Perth Amboy To Round Cash Payments to Nearest Dollar as Pennies Phase Out

Perth Amboy will start rounding cash payments to the nearest dollar once pennies run out, according to Shore News Network. Mid-December marks the deadline. This shift comes after the U.S. Mint stopped producing one-cent coins across the country.

Cash transactions for taxes, utilities, and other services will see changes. Checks, debit cards, credit cards, and online methods? Those stay precise to the penny.

City offices keep a small stash of rolled pennies for now, but that won't last. Banks have stopped receiving and handing out pennies, per the U.S. Department of the Treasury.

A memorandum from the mayor's office spells out how rounding works. If someone overpays because of rounding, that extra money gets credited to their next quarterly tax or utility bill. Officials want to maintain fairness and accuracy as the nation adjusts to life without pennies.

Pennies already in pockets and jars will vanish over time. The federal government axed the coin after critics pointed out that making each one cost more than it was worth.

Canada did this years ago. Other countries followed suit. Rounding cash transactions didn't cause major problems in those places, and the U.S. expects similar results.

Officials stress that fairness drives the new system. Rounding kicks in only when someone hands over bills and coins at the payment counter.

The switch happens mid-December when the city's penny supply hits zero. Municipal services will keep running, just with a different approach for cash-paying customers at city offices.