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The coin shortage is so bad, banks will now pay you extra for change

20 Jul 2020

A chain of banks will pay you a 5% bonus for bring in your loose change. That’s better than the annual interest rate return on most savings accounts.

As if we needed any more challenges in 2020, earlier this month a national coin shortage hit America. That right, America doesn’t have enough physical change to go around. And yep, you can blame that on the pandemic, too. In short, coins aren’t circulating through the economy as readily as they once were since people are going out and spending less–and opting for digital or contactless payments wherever they can.

Read the full article here.
This content was originally published by Fast Company. Original publishers retain all rights. It appears here for a limited time before automated archiving. By Fast Company

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