Daylight scenery of the Chattanooga Valley

Phasing Out the Penny

As penny shortages occur, RockPointBank will implement the following rounding up option on check cashing and cash transactions:

  1. Amounts ending in 1, 2, 3, or 4 ¢ → round up to the next 5 ¢

  2. Amounts ending in 6, 7, 8, or 9 ¢ → round up to the next 0 (i.e., next whole dollar)

  3. Amounts ending in 0 or 5 ¢ → no rounding is required

For more information, please see the published FAQs below from the Federal Reserve and American Bankers Association.

Federal Reserve FAQ

ABA FAQ