Recent changes affecting cash transactions

In November 2025, the United States Department of the Treasury decided to stop producing one-cent coins (pennies), marking a historic change in how cash transactions are handled nationwide. As a result, at Popular we are preparing to operate without this denomination once the current limited supply is exhausted.

We encourage you to review your business operations and make any necessary adjustments, as the limited availability of one-cent coins may affect cash transactions that rely on this denomination. Electronic transactions—such as debit and credit card payments, ACH, checks, and others—will not be affected and will continue to be processed to the cent.

To support you during this transition, we’ve included the following frequently asked questions.

Why is this happening?

The U.S. Treasury ended the production of one-cent coins. This decision was influenced by the rising cost of producing pennies. Manufacturing and distributing each penny cost 3.69 cents.

For more information, please refer to:

  U.S. Department of the Treasury
  Penny Production Cessation FAQs | U.S. Department of the Treasury 

 

What will happen to the pennies I already have? Can I still use them?

Yes. You may continue using or depositing existing pennies already in circulation. Although they will gradually be withdrawn, pennies remain official U. S. currency—just like $1 coins or $2 bills.

 

Can I continue depositing pennies at Popular?

Yes. We will continue accepting deposits of one-cent coins.

 

Will I be able to obtain pennies at Banco Popular branches or vault?

Currently, the availability of pennies is limited, and fulfillment will depend on available volume. We estimate that at any given time we will not have sufficient inventory at our branches to supply customers.

 

What happens when the Bank runs out of pennies?

Once we no longer have pennies available, we will modify procedures for transactions that include them. This may mean, for example, that the pennies in the transaction must be deposited into an account.

 

What should I do if my business does not have penny change available for customer transactions?

This change is recent and may vary across merchants. Currently, there is no official guidance issued by the federal or local government.

If penny change is not available, the U.S. Treasury suggests that merchants round the final total of a cash transaction to the nearest multiple of five cents.

Many merchants—primarily in the United States—have already begun rounding transactions when payment is made in cash.

• Round up example: A total of $10.74 would be rounded to $10.75.
• Round down example: A total of $10.72 would be rounded to $10.70.

There is a proposed federal bill known as the Common Cents Act that considers the practice described above.

 

How can I address the impact on my business?

We understand these changes may affect how you handle your business transactions. Find out some strategies that can help minimize disruptions during the transition and ensure smooth operations:

• Review coin inventory: Evaluate your current penny inventory to determine how long it will last and plan ahead.
• Post informational notices: Inform customers about the change and encourage exact payment or the use of electronic payments to reduce cash transactions.
• Promote electronic payment alternatives that don’t rely on cash, such as accepting debit and credit cards. For information about alternatives, click here.
• Consider establishing a rounding procedure, according to US Treasury's recommendations.

 

If you have any questions or need additional guidance, please contact your Relationship Officer or call us at (787) 756-3939.