Because of COVID-19, businesses across San Antonio have asked customers to avoid paying...
www.mysanantonio.com
H-E-B asks customers for help amid another national shortage
By
Taylor Pettaway
Published 1:14 pm CDT, Friday, July 10, 2020
An unforeseen consequence of COVID-19, the coronavirus shutdowns have halted the flow of coins through households, businesses and banks, the head of the Federal Reserve said in a June hearing before the House Financial Services Committee. He said the flow of coins has essentially stopped after the economic shutdowns earlier this year and now the U.S. is experiencing a shortage.
Add monetary coins to the list of things affected by the coronavirus pandemic.
An unforeseen consequence of COVID-19,
the coronavirus shutdowns have halted the flow of coins through households, businesses and banks, the head of the Federal Reserve said in a June hearing before the House Financial Services Committee. He said the flow of coins has essentially stopped after the economic shutdowns earlier this year and now the U.S. is experiencing a shortage.
A number of businesses in the Alamo City, including H-E-B and Taco Cabana, have asked customers to be conscientious and to avoid paying with cash.
"The places where you go to give your coins, and get credit at the store and get cash — you know, folding money — those have not been working. Stores have been closed," said Fed Chair Jerome H. Powell. "So the whole system has kind of, had come to a stop. We're well aware of this. ... As the economy reopens, we're seeing coins begin to move around again."
In Taco Cabana restaurants, signs asking customers to pay in exact change can be seen next to the registers, while H-E-B has been encouraging guests to use a credit card when possible.
"H-E-B is testing several strategies to buy and conserve coins so we can serve all of our customers in the way they want to shop and pay for their purchases," said spokeswoman Julie Bedingfield, emphasizing that the store will still accept all forms of payment.
In an effort to help with the shortage, the grocery chain has also launched Change for Charity campaign so customers can donate coins to benefit Texas food banks and other local non-profits. They are also encouraging customers to take any extra change to a Coinstar kiosk or to their local bank to exchange for paper bills.