Number 5
New member
Floyd said:Busta Reims said:Floyd said:Oh I know. I suppose I couls just give them 8300 pennies each time. Or do people get charged for using those these days too?
There are actually limits on how many of certain types of coins you can use in a single transaction.
Yep....it's part of the Currency Act. a business can choose to accept the overages, but they can indeed refuse to accept it. If I recall, there was a guy in Quebec a while back who tried to pay his taxes with a quarter million pennies, and was charged.
http://laws-lois.justice.gc.ca/eng/acts/C-52/page-1.html?term=payment%20in%20coins#s-8.
Limitation
(2) A payment in coins referred to in subsection (1) is a legal tender for no more than the following amounts for the following denominations of coins:
(a) forty dollars if the denomination is two dollars or greater but does not exceed ten dollars;
(b) twenty-five dollars if the denomination is one dollar;
(c) ten dollars if the denomination is ten cents or greater but less than one dollar;
(d) five dollars if the denomination is five cents; and
(e) twenty-five cents if the denomination is one cent.
And according to the RCMP, any business can choose to accept whatever form of payment they want:
http://www.rcmp-grc.gc.ca/count-contre/faq-eng.htm#legal)
There must be mutual consent between the retailer and the consumer as to the particular form of payment in order to conclude a transaction. It is the Bank's understanding of the general law in this area that a tender of bank notes as payment does not necessarily compel the party who is owed money to accept that form of payment. The form of payment which is mutually acceptable to the parties to a transaction appears to us to be essentially a matter of private agreement between those parties. For example, a provider of goods or services could insist on payment by credit card or cheque.
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What can I do if a retailer refuses to accept my $100 note? Can retailers legally refuse notes?
The method of payment (e.g. cash, debit or credit card) used in a transaction is a private agreement between the buyer and the seller. Each has the right to accept or refuse a bank note when accepting payment or receiving change.
We encourage retailers to use security features; this is more customer-friendly than refusing notes for counterfeiting concerns and it?s also a more effective protection against counterfeiting losses.
There are several reasons why a retailer may choose to refuse notes (e.g. security for 24-hour operations; maintaining float).