Cryptocurrency Q&A
Do Canadian banks still accept coins?
Do Canadian banks still accept coins?
CryptoVanguard
Wed Nov 06 2024
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5 answers
1131
I'm wondering if Canadian banks still accept coins as a form of payment or deposit, considering the increasing use of digital transactions in recent years.
5 answers
Carolina
Fri Nov 08 2024
Pennies remain a legal tender in Canada, which means they are officially recognized as a valid form of payment.
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GeishaCharm
Thu Nov 07 2024
Despite their legal status, the practical use of pennies has declined significantly in recent years due to inflation and the rise of digital payments.
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BlockchainEmpiress
Thu Nov 07 2024
Many banks in Canada still accept pennies for cash payments, recognizing their official status as legal tender.
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Andrea
Thu Nov 07 2024
Regarding withdrawing pennies from a bank account, it is generally unlikely due to the low value and the inconvenience of handling large quantities of small coins.
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BlockchainMastermind
Thu Nov 07 2024
It is advisable to check with your specific bank regarding their policies on withdrawing pennies, as some banks may have their own regulations or limitations.
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