Bonaire wants to bid farewell to the penny

POSTED: 11/7/11 4:58 PM

KRALENDIJK — The use of the penny is expensive, for both shops and banks on Bonaire. It was decided to start a pilot to see if rounding up at 5 cents with cash payments at cash desks on Bonaire is a possibility. The test will be done at two supermarkets, namely Warehouse and More for Less. The test will last three months and start today.
As Central Bank in Caribbean Netherlands, the Dutch Bank (DNB) is responsible for the efficiency of the transfer of payments. The study group ‘transfer of payments’ is to examine possible improvements. This study group, under chairmanship of DNB, consults with the business community, the banks and the government. The study group will view both the computerized payments and the cash payments.
All prices in the shops will be given in cents. Only the amount that is paid cash at the cash desk will be rounded up or down. The rounding down rule is to such extent that the costs for the customers remain the same on average. If a customer insists on the return amount to a penny, the cashier will comply.

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