BMVThe Indiana Bureau of Motor Vehicles (BMV) is asking Hoosiers to pay with a credit card or check when possible to complete transactions. The BMV is making this request because of the national coin shortage which has directly impacted its branches.
The United States Federal Reserve is experiencing a coin shortage that is currently impacting all Financial Institutions within the U.S. As a result, the BMV is unable to access additional coin inventory to replenish its supplies. The BMV required all branches to take steps to help mitigate the impact of the coin shortage several weeks ago and is now asking customers to use cash only when able to pay with exact change. At this time, branches are displaying signs identifying the situation and asking customers to use alternate forms of payment.
The Federal Reserve has not provided a timeline for the coin shortage to be resolved. They have stated they expect coin inventories to return to previous levels once the coin supply chain returns to normal circulation patterns.