Policy Change At Kwik Trip - No More Pennies

Is Kwik Trip one of the first stores to adopt a new policy of no longer accepting pennies? It appears that since the recent announcement made by the US Department of Treasury that they will no longer be minting pennies, Kwik Trip is adopting a new policy. The new 'cash transaction policy' says they will no longer be accepting pennies at their Kwik Trip/Kwik Star locations.

They are actually adopting the policy in favor of their customers. They will round all cash purchases DOWN to the nearest five cents.

KWIK TRIP WILL BE ROUNDING DOWN FOR ITS CUSTOMERS

For example, if your cash purchase is 26.27 cents, you will only have to pay $26.25. No more will you need to fumble through your wallet for those few extra pennies.

If you are using a debit or credit card, your purchase will still be the exact purchase price.

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'What we're finding from some of our banks in our markets here in Wisconsin is that penny supply is already depleted. So given that, we have to make a pivot here at Kwik Trip because we still have 17 percent of our customers who pay with cash,' said John McHugh, who is Kwik Trip's vice president of external relations.

WILL OTHER RETAILERS BE ADOPTING THIS POLICY SOON?

Can you expect to see other retailers adopting this policy? 'We're anticipating that a lot of other companies will probably have to make similar decisions, because again, this impacts every retailer that's having cash transactions. It's not limited to just Kwik Trip. I think we'll see a lot of this coming in the next couple of weeks, John added.

WHAT DO YOU THINK ABOUT THE POLICY?

So will this policy change upset people? Confuse people? We've been hearing about this possibility for years, and although penny pinchers might be shocked, they shouldn't be too upset with Kwik Trip's decision. Now it seems that your piggy bank will be the greatest savings for your pennies.