City of Fort Walton Beach rounds cash payments to nearest nickel ahead of federal penny phase-out
Fort Walton Beach, Florida – Beginning on November 1, customers who pay their utility bills in cash in Fort Walton Beach will see a tiny but essential difference in how their payments are processed. The customer service office stated that it will no longer provide pennies as change for cash transactions. Instead, all cash payments will now be rounded to the next nickel.
With the new approach, if a bill total needs to be rounded up, the extra amount will be added to the customer’s next payment as a credit. If the amount rounds down, the tiny difference will be applied to the next month’s bill as a debit. This change makes sure that payments stay correct without the need for pennies, which will soon be discontinued.
For example, if a consumer pays $100 for a bill of $76.84, the payment will be rounded up to $76.85. They will get $23.15 back in change, and the extra penny will show up as a credit on their next bill. The change only impacts cash payments made in person. Customers that pay with a check, bank transfer, money order, or credit card will not notice any change.
Read also: City of Destin unveils upgraded MGO Connect platform built from user feedback
Officials said that the choice is in line with current trends in banking and the federal government. The U.S. Treasury has said that it would stop making pennies by 2026. The utilities office’s bank will also stop including pennies in its change orders. The office is making changes to make sure everything goes smoothly before the federal phase-out, even if they can’t get the one-cent coin.
The change may seem small, but it is one of the first local changes that happened since the penny is slowly going out of circulation. Utility representatives express appreciation for customers’ cooperation and understanding as the office aligns with forthcoming national monetary policies.
