Bye Bye penny: Kwik Trip stores to round down cash purchases

MANKATO, Minn. (KEYC) - A staple piece of American currency will no longer be found inside cash registers of a popular midwest convenience store.

Kwik Trip announced Thursday that the company is rolling back on the penny at all 900 locations and at its Kwik Star locations.

Instead, cash transactions will be rounded down to the nearest five-cents-- that is would be less out of pocket to the customers paying in cash. Prices for credit card and digital transactions will remain the same.

For perspective, if a purchase costs you $1.04, for cash transactions, that price drops down to a dollar even. However, credit card transactions for the same purchase will remain at $1.04.

Stores will enforce this new cash policy as penny supplies are exhausted, meaning stores will go penniless at different times.

The company president and CEO says that the change quote “reflects our ongoing focus on guest experience. We apologize for any confusion this may create for our guests” end quote.

In a statement the company cited a lack of guidence from the US Department of Treasury after the decision to stop minting new pennies.

Kwik Trip has stores in Wisconsin, Minnesota, northern Michigan, Iowa, Illinois and South Dakota.

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