4 ms·
Why would that be so bad? Most interest (that I have to deal with) is calculated monthly or yearly. Even if my bank chooses to always round in their advantage (
by Thiez 8y ago
Why would that be so bad? Most interest (that I have to deal with) is calculated monthly or yearly. Even if my bank chooses to always round in their advantage (so round down when interest is paid to me, and up when interest is paid to them) I have a hard time imagining how they might end up scamming me out of 50 cents annually, even if I were to have several accounts and a mortgage.
I suppose it might end up looking a bit funny in their books?
In the Netherlands we disliked the 1 and 2 euro-cent coins, so all shops round to the nearest 5 cent when you pay cash. By shopping 'smart' you could save yourself multiple cents every purchase (1, 2, 6, and 7 round down, 3, 4, 8, and 9 round up). E.g. if you buy one item for 99 cents, you pay 1 euro.. When you buy three of those items, you pay only 2.95, a 1.66666% discount. I've never heard of anyone doing this, because nobody cares :-)
- gaius 8y agoMost interest (that I have to deal with) is calculated monthly or yearly. Internally your bank is almost certainly doing daily, and across many accounts rounding errors do need to be controlled, even if the retail customers never see that side
- hellofunk 8y agoI get two cent coins in Holland all the time.
- Thiez 8y agoNorth or South Holland? I never get them in Overijssel and Gelderland. But whenever I visit Germany I always end up with a wallet filled with those crappy tiny coins (exacerbated by the fact that many places are cash only there, compared to the Netherlands).
- hellofunk 8y agoNorth Holland. I don't get a lot, but they do trickle in when I pay with cash and am given change. I wait until I have an opportunity to use them, and pay with them, and retailers never say anything about it, gladly accept the coins.