Saturday 3 December 2016

Plan to discourage use of 1c and 2c coins to be rolled out next week

Published 19/10/2015 | 07:38

The rounding plan follows a two-month trial scheme in Wexford in 2013
The rounding plan follows a two-month trial scheme in Wexford in 2013

The Central Bank's plan to have retailers round change to the nearest 5c will be rolled out from Wednesday October 28.

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Consumers will be able to opt out of rounding and 1c and 2c coins will still be legal tender.

Rounding will apply only to cash payments and, only to the total amount of any bill.

The move follows a two-month trial scheme in Wexford in 2013.

“The reaction so far to rounding has been fantastic. As a country we are good at making changes like this. We migrated to the euro ahead of most other countries, and the indications so far are that consumers and retailers alike will embrace rounding," Central Bank spokesman Ronnie O'Toole said.

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