Penny Problems

My total was 17.99 and I put in $18 and figured OK, round up,
but it gave me a nickel. I'm not sure they understand the economic philosophy of rounding up or down to the nearest nickel.
Prob the machine had to be programmed in a way to give the lowest denomination coin if 1,2,3,4 cents in change was to be dispensed.

 

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Apparently some state laws can be interpreted in a way that prohibits rounding in favor of the party determining the rounding, even if it's part of a mathematically neutral strategy. Merchants figure it's better to eat a few cents on a transaction than to face possible legal action and certain bad publicity.

Edit to add: and losing four cents on a cash transaction is still cheaper than merchant fees on a credit card transaction.

 

I was haphazardly dumping cents into the Harris Teeter self checkout Sunday, and inadvertently went one cent over a five-cent boundary. Yes, they gave me back a nickel for my extra cent. No, I'm not going to use this guaranteed 400% return to Get Rich Quick.

 

I bought beer today and the owner manning the cash register cracked open a roll of Loomis cents to give me change. I noted two or three more rolls in the till. She hasn’t had any problems getting them.

 

The era of finding "pennies" in the parking lot are coming to an end. Will nickels take their place? Or leave a nickel tray at the stop and rob?

 

I went to the grocery store today and was surprised to see a sign at the self checkout that said “Not all self checkouts accept cash nor do they give change. Your bill is rounded up to the nearest dollar.”
I don’t use self checkouts as I want customer service. If I did use them and saw a sign like this I’d stop using them.

 

I wonder if that grocery is headed for legal problems. I mean, as far as I'm concerned, they can round up to the nearest twenty as long as they clearly post the policy and they're willing to deal with the lost business - but I'm guessing state laws do have something to say about it.

Was it one of the big chains, or a local store? I've seen what Giant was doing with the bounty for turning in cents, but I don't know what the more local shops are doing, or even which ones are prevalent where you are. (We used to hit Stauffers of Kissel Hill when we lived in Lancaster, but I don't know if you're near one...)

 

It was one of the giant chain grocery stores.

 

Yeah I don't think you can do that.
Just because there is a "sign" that's not the law.

 

Giant's a big chain. Are you 100% sure that the signs said they were rounding up the bill, and not rounding up the change they return to you? I know I saw at least one sign at a store here that was confusing on that point - I forget the exact wording, but I had to read it a couple of times to be sure it said they were rounding in the customer's favor.