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Penny Opponents Look To Save Dollars And Cents.

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Bedrock of the Community
merclover's Avatar
United States
10635 Posts
 Posted 08/18/2011  02:42 am  Show Profile   Bookmark this reply Add merclover to your friends list Get a Link to this Reply

Quote:
Wells Fargo wants to start charing you $3 every time you use their debit card. If all the banks start doing that, I see plastic dying rather quickly.


Nod2003...Ah, no, not quite right. Wells Fargo wants to start a monthly charge of $3 to use their debit card. BIG difference between a monthly charge and a per transaction charge.

And Earle42, I agree with the others... you math downright stinks. It's transactions (cash) that would be rounded, not prices. Case in point, gasoline... everywhere it's sold in .9 increments... no rounding is done until you're finished.

Les
Bedrock of the Community
United States
20753 Posts
 Posted 08/18/2011  10:11 am  Show Profile   Bookmark this reply Add just carl to your friends list Get a Link to this Reply

Quote:
Case in point, gasoline... everywhere it's sold in .9 increments... no rounding is done until you're finished.

Same with almost every item in stores. A pair of shoes is usually $29.99 or $49.99. Even as I said before, even a loaf of bread is $0.59. Not $0.60. I don't think anything on Earth is an even amount of money. Imagine if they bring back Mills and on a gas pump is stated $3.8644281/ gallon.
Valued Member
akane17's Avatar
United States
404 Posts
 Posted 08/18/2011  12:57 pm  Show Profile   Bookmark this reply Add akane17 to your friends list Get a Link to this Reply
I think a lot of people are over analyzing the situation.
First, you are only rounding numbers up/down when paying cash, all credit card and check sales would still contain 1 cent increments.
Second, you're only rounding up/down on the total purchase, not individual items. Gas isn't going to move in 5 cent increments. It would still be $3.499 If the total pumped was $43.06 AND you're paying cash, you owe $43.05, paying by credit card? You pay $43.06.
Bedrock of the Community
United States
20753 Posts
 Posted 08/18/2011  5:16 pm  Show Profile   Bookmark this reply Add just carl to your friends list Get a Link to this Reply

Quote:
Posted Today 4 Hrs 13 Min ago

I think a lot of people are over analyzing the situation.
First, you are only rounding numbers up/down when paying cash, all credit card and check sales would still contain 1 cent increments.

I thought some of the credit card companies have been advertising they would round down on your purchases. So if you paid $14.73 they would post $14.70. Don't remember where or which one stated that though.
However, what you say is really true. And when you get your credit card staement, it is usually paid with a check by mail. That too makes little difference in Cents or even amounts. You can write a check for $14.73 as well as $13.70. So in many instances getting rid of Cents just makes little Cents.
One thing for sure though is without Cents and/or Nickels a check book would be easier ot balance.
Pillar of the Community
nod2003's Avatar
United States
3294 Posts
 Posted 08/18/2011  5:24 pm  Show Profile   Bookmark this reply Add nod2003 to your friends list Get a Link to this Reply
I always balance my checkbook in whole dollars anyways. I compared it to my electronic balance and only have a $0.47 difference, so it all averages out it seems.
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