what can canadian tire money be used for
Canadian Tire money Canadian Tire money, officially Canadian Tire 'money',[1] (CTM) is a loyalty program operated by the Canadian retail chain Canadian Tire. It consists of coupons, issued by the company, which resemble real banknotes. It can be used as scrip in Canadian Tire stores, but is not considered a private currency. The notes are printed on paper similar to what Canadian currency was printed on when they were printed on real paper, and were jointly produced by two of the country's long-established security printers, British American Banknote Company (BABN) and Canadian Bank Note Company (CBN).[2] Some privately owned businesses in Canada accept CTM as payment (see history below), since the owners of many such businesses shop at Canadian Tire. In Canadian Tire stores, CTM is accepted for Canadian money at par.
Penny (Canadian coin) Production of the penny ceased in May 2012,[1] and the Royal Canadian Mint ceased the distribution of them as of February 4, 2013.[2] However, like all discontinued currency in the Canadian monetary system, the coin remains legal tender. Once distribution of the coin ceased, though, vendors were no longer expected to return pennies as change for cash purchases, and were encouraged to round purchases to the nearest five cents.[3] Non-cash transactions are still denominated to the cent.