Do you think customers would object to "no coin change"?

[inhawaii]

I'm my B&M store, do you think customers would object to a "no coin change" policy,

rounding their purchase up or down to the nearest dollar?  No need to stock the till with coins!

You think that's even legal?

[alcoforever]

I think it is a good idea but you would have to try it to see if it works.  As to legality, I suspect there are no laws against it.   After all, you can set your prices anywhere you want and this would just be a form of setting prices.

[soh.maryl]

If I knew that was your policy, I would not shop at your B&M store.

Is it really difficult to stock the tilll with coins? I've never been a merchant, so I really want to know. 

[downunder-61]

Over here we did away with 1c and 2c coins years ago. All sales are rounded up/down to the nearest .05c demonination.

Don't think many would agree to rounding up .51c sale to a buck though 

[inhawaii]

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@downunder-61 wrote:

Over here we did away with 1c and 2c coins years ago.

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I did not know that. Very interesting.

I don't care what everyone else says, you Aussies are pretty darn smart.   😉

[lacemaker3]

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@inhawaii wrote:

I'm my B&M store, do you think customers would object to a "no coin change" policy,

rounding their purchase up or down to the nearest dollar?  No need to stock the till with coins!

You think that's even legal?

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@inhawaii 

Oh yes, some customers would definitely object to this. Off hand, I'd say that a large percentage of those customers whose purchases would be rounded up will object.

Canada doesn't use pennies any more either, so like Australia, all cash purchases are rounded up or down to the nearest nickel. I think, if they thought that Americans would accept that, they would have already done away with pennies in the USA. It already costs more than 1¢ to make a penny, and more than 5¢ to make a nickel.

[nobody*s_perfect]

If I was shipping in a store with that policy, I'd just use cash for purchases that were being rounded down, and a credit card for purchases that would have been rounded up. And if you try to round up a credit-card purchase, I'm out the door.

[rosszonebricks]

Personally, I (used to) pay cash for anything under $10, just because I know the fees associated with processing an electronic payment vs cash.   That said, given my personal reasons why I would pay cash in the first place (i.e. only on low total amounts) I would probably not like being forced to 'round up' on a $2.51 purchase to $3, representing a 17% increase in price.

A few stores I frequent have signs up with similar text talking about national coin shortage and please consider paying with electronic payment instead.   However, if the store has a sign up requesting electronic payment... well, ok... I'll run my card for a $2 beverage.  But this type of 'encouragement' to use electronic payment sits better with me than just being 'forced' to round up cash.

[inhawaii]

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@nobody*s_perfect wrote:

If I was shipping in a store with that policy, I'd just use cash for purchases that were being rounded down, and a credit card for purchases that would have been rounded up. And if you try to round up a credit-card purchase, I'm out the door.

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Wow you would actually calculate your total and based on that decide on which payment method you would use just to AVOID this policy?  I never realized people would be so against it.  I learned something today. Myself personally would have no problem at all with such a policy.  

[postcardcountry]

I have noticed two of the local grocery stores have made their self serve checkouts credit card only. 

That way they need coins only for the live cash registers.

One of them wasn't even doing that....they would only give a coupon for the change.

I noticed our favorite casino is doing the same thing -  if you cash out at the auto teller, you get dollars and a coupon for the change.

The lottery machine is cash only, exact amount.  So if you want $8 in lottery tickets you have to put in $8.  If you put in $10 you have to purchase $10 worth of tickets.

[jda11121]

How would it set with you to round everything down. Customers would never complain.

[nobody*s_perfect]

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@inhawaii wrote:

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@nobody*s_perfect wrote:

If I was shipping in a store with that policy, I'd just use cash for purchases that were being rounded down, and a credit card for purchases that would have been rounded up. And if you try to round up a credit-card purchase, I'm out the door.

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Wow you would actually calculate your total and based on that decide on which payment method you would use just to AVOID this policy?  I never realized people would be so against it.  I learned something today. Myself personally would have no problem at all with such a policy.  

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I would wait until the cashier totaled it, then either hand them cash or use a credit card, depending.

It's not about being opposed per se; it's more about using the policy to my own advantage on the round-downn purchases while avoiding the built-in penalty on round-up purchases. So a store with this policy will lose either way: due to the rounding-down, or due to paying the credit-card processing fee.

[inhawaii]

I just thought most people would think, yeah I might lose a few cents once in a while but I also might GAiN a few cents once in a while. It should all even out.  Apparently not everyone thinks like me ... which is probably a good thing.    😉   Thanks for your input.  I'll put that project on the back burner for a while. 

[coolections]

No, it would not be legal. You will have to just keep your coins as always.

[uncle-papaw]

I used to have a convenience store. One customer would come in and buy two 25¢ cakes and always insisted on paying for them separately  because the way tax was calculated, she could save a penny that way. I would say rounding up would be a bad idea.