Wexford rounding trial kicks off today

Two month trial to reduce 1c and 2c coins

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More than 250 local businesses in Wexford town have signed up take part in a two-month Central Bank rounding trial, which begins today (Monday) and will see all cash transactions at participating outlets rounded up or down to the nearest 5c. The trial, which runs until Sunday 17 November, is intended to reduce the number of 1c and 2c coins in circulation, test how rounding will work in practice and assess the reaction of consumers and retailers.

During the trial, the price of individual goods or services will remain unchanged as only the total bill will be rounded. Non-cash transactions are not affected. Participation by businesses and consumers is voluntary. According to programme manager for the National Payments Plan, Ronnie O’Toole, there has been a huge level of interest in the trial. "All the indications are that Wexford will provide an excellent testing ground for issues that might arise and will provide a strong representative sample of experiences from local retailers and consumers," he said.

"I am not surprised at the enthusiastic support for the trial which has come from Wexford businesses," said Madeleine Quirke, chief executive of Wexford Chamber of Commerce. "The trial is a great opportunity to show Wexford town in a positive light and help cement the brand of Wexford town as being highly innovative and a great retail experience. When Wexford was announced as the host town in July, we attracted local, national and even international interest and I expect a lot of interest in how the trial works."

The Central Bank of Ireland has run a public information campaign around the trial over the last two weeks, including a leaflet drop to every household in Wexford town, local print and radio advertisements, a dedicated website, a Twitter handle (@WexfordRounding) and an information number (053 911 0390).

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