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	<title>Money matters Archives - LawOnline Singapore</title>
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		<title>Payment using Coins &#8211; Legal Tender limit</title>
		<link>https://lawonline.com.sg/2020/01/31/payment-using-coins/</link>
		
		<dc:creator><![CDATA[lolsg]]></dc:creator>
		<pubDate>Fri, 31 Jan 2020 03:33:29 +0000</pubDate>
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					<description><![CDATA[<p>The number of coins that you can use in a single transaction is 20 coins per denomination. The Singapore Currency Acts says that coins are &#8220;legal tender up to their [&#8230;]</p>
<p>The post <a rel="nofollow" href="https://lawonline.com.sg/2020/01/31/payment-using-coins/">Payment using Coins &#8211; Legal Tender limit</a> appeared first on <a rel="nofollow" href="https://lawonline.com.sg">LawOnline Singapore</a>.</p>
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<p>The number of coins that you can use in a single transaction is 20 coins per denomination.    </p>



<p>The Singapore Currency Acts says that coins are &#8220;legal tender up to their face value for the payment of an amount not exceeding 20 times the face value of a coin of that denomination&#8221;.  When making payment using coins you can use up to only 20 coins per denomination per transaction. This means that a shop or seller can reject your payment if you use more than 20 coins of the same denomination in a transaction.</p>



<p>A shop or seller can also choose to lower the limit on the quantity of coins they will accept in a transaction. A written notice of the lower limit must be put up. Otherwise, all denominations of coins given by a customer as payment up to the legal limits must be accepted.</p>



<p>The legal tender limit for coins in Singapore is as follows: </p>



<ul><li>five-cents X 20 pieces = S$1</li><li>10-cents X 20 pieces = S$2</li><li>20-cents X 20 pieces = S$4</li><li>50-cents X 20 pieces = S$10</li><li>S$1 x 20 pieces = S$20</li></ul>



<p>In each payment you are limited to a cap of 100 coins across all 5 denominations. This means you could pay up to $37 in coins.</p>
<p>The post <a rel="nofollow" href="https://lawonline.com.sg/2020/01/31/payment-using-coins/">Payment using Coins &#8211; Legal Tender limit</a> appeared first on <a rel="nofollow" href="https://lawonline.com.sg">LawOnline Singapore</a>.</p>
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