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A Chick-fil-A in Virginia is offering customers food stamps in exchange for coins to avoid running out of cash amid a nationwide currency shortage due to the coronavirus pandemic.
For every $ 10 in rolled coins, customers will receive the same value in paper bills, plus a Chick-fil-A card for free entry during select hours on Wednesday.
Lynchburg Chick-fil-A will collect coins until the need is met.
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The announcement comes at a time when the circulation of currencies has been disrupted as the economy struggles to reopen, forcing businesses to run out of cash or consumers to pay with an exact exchange rate.
In a virtual hearing last month, Federal Reserve Chairman Jerome Powell said the flow of coins has “stopped” as a result of consumers not going to stores and businesses facing blockages.
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“The places he goes to give his coins, get store credit, and get cash, you know, double money, haven’t worked,” Powell said at the hearing with the House Financial Services Committee. “The stores have closed. So the whole system has stopped.”
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The national shortage of coins has prompted some banks to take initiatives to raise pennies, nickels, nickels and quarters that could be distributed to local businesses. In Wisconsin, the Community State Bank started a coin buyback program, offering $ 5 to $ 100 coin donations with a maximum bonus of $ 500.
The Chick-fil-A located in Lynchburg joins a number of companies struggling to maintain a constant flow of coins.
Kroger, the country’s largest supermarket chain, has stopped using currency exchange for its customers earlier this month. CVS and WaWa have also requested that customers pay with the exact change.
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