Talk:Cash rounding

unless i misinterpret this text it says that Swedish Rounding has not been used in Sweden since 1985.

this is wrong, since such a system is still in use. values are rounded to the closest .50 SEK. 213.65.197.147 13:38, 22 July 2007 (UTC)Reply

You mean to the closest 50 öre. I find it odd that Sweden isn't mentioned under "rounding with 50 öre intervals". Kapten Nordström (talk) 02:05, 12 January 2012 (UTC)Reply

Why is there a section for "10c intervals"? Isn't it just "normal rounding"? --ChoChoPK (球球PK) (talk | contrib) 10:04, 27 September 2007 (UTC)Reply

Isn't all of this just "normal rounding"? What is specifically Swedish about it? Are there country names for always-round-up or always-round-down too? –Henning Makholm 13:32, 27 October 2007 (UTC)Reply

Must be many countries which have no 1/100 coins, but some coins smaller than the currency unit, therefore needs a rounding method. Maybe no English speaking country, since they tend to have 1 cent/penny coins and highly valued currencies. How is the rand rounded? It has 5c as the smallest coin. --BIL 21:03, 27 October 2007 (UTC)Reply

Australia's smallest coin is .05, and New Zealand's is .10, and there are many English-speaking African states that have lost subdivisions all together. Nik42 21:45, 27 October 2007 (UTC)Reply

I assume, that rounding is not so very Swedish, but it is called "Swedish rounding" in Australia and New Zealand, just terminology. Many countries do some kind of rounding. -- BIL 09:40, 28 October 2007 (UTC)Reply

Okay, whimsy aside: The article does leave me wondering why they need to put any adjective in front of "rounding" in Australia and New Zealand. In Denmark we just speak about "rounding" to the nearest multiple of DKK 0.25. Were there any alternative rounding methods for cash transactions seriously proposed in .au or .nz such that it became necessary to explicitly specify this way of rounding rather than some other way? If anyone knows about this, please add some information or cross-references to the article. –Henning Makholm 20:45, 28 October 2007 (UTC)Reply

I live in Australia and never heard rounding referred to as being Swedish... This 'article' seems more appropriate for urbandictionary... I can't see why rounding, a fairly logical and universal concept even needs an article? —Preceding unsigned comment added by 139.130.43.94 (talk) 04:54, 22 November 2008 (UTC)Reply

This reads like Wikipedia creating another urban myth. I live in Australia and I've never heard the term, and further, Googling the term (in quotes) and selecting Australian sites turns up mostly Wikipedia pages and quotes from this page. There is not a lot of extrinsic evidence for the term's usage in Australia. Is there any evidence that the references to Australia are not completely made up?

Do people actually flip a coin for values ending in 5 with the 10c rule? Nik42 07:37, 14 October 2007 (UTC)Reply

As far as I'm aware, 5 is the limit; thus from 5 up, the sum is always rounded upwards. 惑乱 分からん * \)/ (\ (< \) (2 /) /)/ * 19:58, 9 November 2007 (UTC)Reply

I live in New Zealand and I have never seen or heard of a 'coin flip' for deciding to round up or down on the 5 cent mark. This is not practiced, and as far as I am aware the rounding is usually in favour of the customer - ie. down to the nearest 10 cent. --Torrance 118.92.90.159 (talk) 05:32, 27 June 2008 (UTC)Reply

in cases where small coins are eliminated, have there also been cases where this also applies to amounts of money on bank accounts? This would only be logical. The statement If payment is being tendered using credit card, debit card, EFTPOS or cheque no rounding is necessary. should not always be correct, as bank accounts also have a lowest amount of balance, and prices could still have to be rounded, where they are like 1.139 € per litre or so. --androl (talk) 14:39, 9 February 2009 (UTC)Reply

The point of this rounding is that the virtual balance retains the old minimum unit. In most countries outside the USA, it has been normal to withdraw the smallest-denomination coin when inflation renders its value trivial. The usual practice is to round all balances at the time of withdrawal and make the new minimum unit the price increment for individual items. Swedish rounding is different from this.

Here's a worked example, assuming the 1c coin is withdrawn leaving the 5c coin as the cash minimum. I've called the non-Swedish-rounding method the "withdrawal method" :p jnestorius^(talk) 08:45, 11 March 2010 (UTC)Reply

Item	Number of units	Old unit price (= Swedish rounding unit price)	Old item price (= Swedish rounding item price)	New unit price (withdrawal method)	New item price (withdrawal method)
Loaf of bread	2	46c	92c	45c [rounded from 46c]	90c
Sugar	1.45kg	34c/kg	49c [rounded from 49.3c]	35c/kg [rounded from 34c]	50c [rounded from 50.75c]
Petrol	4.27 l	78.9c/l	$3.37 [rounded from $3.36903]	78.9c/l [unrounded]	$3.35 [rounded from $3.36903]
EFTPOS total	—	—	$4.78	—	$4.75
Cash total	—	—	$4.78 [old money] $4.80 [Swedish rounding]	—	$4.75

Rounding to the nearest 5 drachmas was also used for a while in Greece (certainly ca. 1995–1996), since 1 and 2 drachma coins were practically not circulating. I don't have exact dates, though.

It's less relevant now that they have introduced the euro, so drachmas don't matter anyway. -- pne (talk) 10:21, 15 June 2010 (UTC)Reply

Several countries have countries that are worth almost nothing in small demoninations, and they similarly must round prices. I have added the example of Chile, but I know this is also true in Paraguay, and probably dozens of other countries. Do we think this is an appropriate addition? Why? Zavtrakat (talk) 14:58, 27 December 2010 (UTC)Reply

This article only mentions cases where it is mandated by law. It does not include cases where the store chooses to use rounding to simplify change. I have seen this in the US in a couple stores. Of course, they always round up and keep the difference. Bostoner (talk) 21:25, 4 September 2011 (UTC)Reply

I wish this article gave some idea of the value of the currencies stated, so readers can tell how much the difference is in actual value. Preferably this should be given in US dollars and Euros, for example, in country X, they round by 10c (3¢/2c). Of course, the relative values of currencies are constantly changes, so maybe it's 10c (2008: 2c/3c). Bostoner (talk) 21:25, 4 September 2011 (UTC)Reply

More references are needed. Besides ref. number 1 does not work anymore. — Preceding unsigned comment added by 188.67.60.11 (talk) 13:04, 22 March 2013 (UTC)Reply

Man comes out 89 cents richer after a year of penny-rounding

• Montreal-area man Roger Guitar tracked cash transactions for a year

I don't know how this article started out, but it has become a general article about cash rounding. Many countries have this and many are mentioned on the page. So I have removed the template at the bottom with a detailed table of New Zealand coins; there is nothing special about New Zealand here. That template is still viewable in the article Coins of the New Zealand dollar, where it makes sense.

In fact, so many countries have cash rounding that this article needs to be restructured. It should be a description of how cash rounding works in general, with one or perhaps two worked out examples in a specific currency, then a list of links to the articles for specific currencies that have cash rounding without any details here.StormWillLaugh (talk) 12:07, 4 September 2016 (UTC)Reply

Hello fellow Wikipedians,

I have just modified 3 external links on Cash rounding. Please take a moment to review my edit. If you have any questions, or need the bot to ignore the links, or the page altogether, please visit this simple FaQ for additional information. I made the following changes:

• Added archive https://web.archive.org/web/20111006085119/http://www.newcoins.govt.nz/1570749.html to http://www.newcoins.govt.nz/1570749.html
• Added archive https://web.archive.org/web/20100424091353/http://www.nationalbanken.dk:80/DNUK/NotesAndCoins.nsf/side/New_rounding_rules_!OpenDocument to http://www.nationalbanken.dk/DNUK/NotesAndCoins.nsf/side/New_rounding_rules_!OpenDocument
• Added archive https://web.archive.org/web/20110517145611/http://www.norges-bank.no:80/en/about/published/circulars/2011/regulation-relating-to-withdrawal-of-50-ore-coins-as-legal-tender/ to http://www.norges-bank.no/en/about/published/circulars/2011/regulation-relating-to-withdrawal-of-50-ore-coins-as-legal-tender/

When you have finished reviewing my changes, please set the checked parameter below to true or failed to let others know (documentation at {{Sourcecheck}}).

This message was posted before February 2018. After February 2018, "External links modified" talk page sections are no longer generated or monitored by InternetArchiveBot. No special action is required regarding these talk page notices, other than regular verification using the archive tool instructions below. Editors have permission to delete these "External links modified" talk page sections if they want to de-clutter talk pages, but see the RfC before doing mass systematic removals. This message is updated dynamically through the template {{source check}} (last update: 5 June 2024).

• If you have discovered URLs which were erroneously considered dead by the bot, you can report them with this tool.
• If you found an error with any archives or the URLs themselves, you can fix them with this tool.

Cheers.—InternetArchiveBot (Report bug) 15:01, 16 November 2016 (UTC)Reply

Hello fellow Wikipedians,

I have just modified one external link on Cash rounding. Please take a moment to review my edit. If you have any questions, or need the bot to ignore the links, or the page altogether, please visit this simple FaQ for additional information. I made the following changes:

• Added archive https://web.archive.org/web/20110604094106/http://www.info.gov.za/speeches/2002/020402946a1001.htm to http://www.info.gov.za/speeches/2002/020402946a1001.htm

When you have finished reviewing my changes, you may follow the instructions on the template below to fix any issues with the URLs.

This message was posted before February 2018. After February 2018, "External links modified" talk page sections are no longer generated or monitored by InternetArchiveBot. No special action is required regarding these talk page notices, other than regular verification using the archive tool instructions below. Editors have permission to delete these "External links modified" talk page sections if they want to de-clutter talk pages, but see the RfC before doing mass systematic removals. This message is updated dynamically through the template {{source check}} (last update: 5 June 2024).

• If you have discovered URLs which were erroneously considered dead by the bot, you can report them with this tool.
• If you found an error with any archives or the URLs themselves, you can fix them with this tool.

Cheers.—InternetArchiveBot (Report bug) 06:13, 30 December 2016 (UTC)Reply

The organization of sections is kind of weird. First, there is "0.05 or 5", then 0.1, then 0.5, then 1.0. But Vietnam with 500 dong is placed under the first category! Would anyone protest if I just reorganize them to 0.05, 0.1, 0.5, 1, 5, 10, and so on? --ChoChoPK (球球PK) (talk | contrib) 06:19, 30 March 2017 (UTC)Reply

Hello fellow Wikipedians,

I have just modified 3 external links on Cash rounding. Please take a moment to review my edit. If you have any questions, or need the bot to ignore the links, or the page altogether, please visit this simple FaQ for additional information. I made the following changes:

• Added archive https://web.archive.org/web/20090123153550/http://rbnz.govt.nz/currency/Money/0094086.html to http://www.rbnz.govt.nz/currency/money/0094086.html
• Corrected formatting/usage for http://www.nationalbanken.dk/DNUK/NotesAndCoins.nsf/side/New_rounding_rules_%21OpenDocument
• Corrected formatting/usage for http://www.norges-bank.no/en/about/published/circulars/2011/regulation-relating-to-withdrawal-of-50-ore-coins-as-legal-tender/

When you have finished reviewing my changes, you may follow the instructions on the template below to fix any issues with the URLs.

This message was posted before February 2018. After February 2018, "External links modified" talk page sections are no longer generated or monitored by InternetArchiveBot. No special action is required regarding these talk page notices, other than regular verification using the archive tool instructions below. Editors have permission to delete these "External links modified" talk page sections if they want to de-clutter talk pages, but see the RfC before doing mass systematic removals. This message is updated dynamically through the template {{source check}} (last update: 5 June 2024).

• If you have discovered URLs which were erroneously considered dead by the bot, you can report them with this tool.
• If you found an error with any archives or the URLs themselves, you can fix them with this tool.

Cheers.—InternetArchiveBot (Report bug) 07:37, 25 May 2017 (UTC)Reply