Dáil Éireann Debate, Tuesday - 7 July 2015
139. Deputy Ruth Coppinger asked the Minister for Finance further to Parliamentary Questions Nos. 85 to 87, inclusive, of 24 June 2015, if he will clarify that the rounding to the nearest five cent will apply only to cash payments, and that electronic payments will remain unrounded. [27358/15]
View answerI can confirm that rounding will be to the nearest five cent, and will only apply to cash payments and not to electronic payments (such as by debit card) which will remain unrounded. Rounding will apply on a voluntary basis for both retailers and consumers. The rounding rules will not apply to amounts being paid in cash at banks and post offices, and will only apply at the point of sale for the purchase of a good or a service. The Central Bank will continue to ensure that there is an adequate number of coins to meet demand, though demand is expected to fall significantly. The Central Bank has been asked to co-ordinate the communications campaign to ensure consumers and retailers are fully informed about rounding in advance of the national roll-out.
