Canadian penny discontinued
Businesses will round customers' change to the nearest five cents
February 4, 2013, 9:50 PM AST
Last updated February 4, 2013, 10:33 PM AST
The discontinuation of the Canadian penny means paying with cash will be more complicated than before.
The Royal Canadian Mint officially discontinued distribution of the penny today, causing businesses to round the cost when customers pay with cash. University students now say they expect to use debit more often.
Zach Beghetto, an employee at Subway, said students paying with cash should expect their change to be rounded.
He explained, “If it’s $6.49 it would be $6.50 but if it was .46 or .47 it would be $6.45.”
Students paying with debit or credit will not be subject to rounding.
Emily MacDonald, first-year King’s student, says she will definitely be using debit rather than cash when paying for merchandise.
Lauren McNeil, a St. Francis Xavier University student, agreed that debit will also be her payment method of choice in light of the Canadian penny’s extinction,
“I’ll probably use debit more now that they’re rounding prices.”
Check out student reactions about the disappearing penny:
(Video: Jessamyn Griffin)