1c and 2c coins trial, the result.

Gosub

Last year a trial was carried out in Wexford to see if the 1c and 2c coins could be scrapped. The trial showed that 85% of shoppers and 100% of retailers would be in favour of scrapping the coins.

Now, call me an old cynic but, if I was a retailer and I was pricing an item, would I price it at say 42c to be rounded down to 40c, or 43c to be rounded up to 45c? I know that it would be impossible to work out the total bill of a customer and fiddle it that way, but what about items that are mostly single purchase?

If the scheme were to be rolled out nationwide, I'm sure it would all be done in a fair and transparent way... wouldn't it?

Nidgeweasel

I don't think I've ever cared less about something in my entire life.

Sorry I couldn't be of more assistance.

elefant

Gosub wrote: »

Last year a trial was carried out in Wexford to see if the 1c and 2c coins could be scrapped. The trial showed that 85% of shoppers and 100% of retailers would be in favour of scrapping the coins.

Now, call me an old cynic but, if I was a retailer and I was pricing an item, would I price it at say 42c to be rounded down to 40c, or 43c to be rounded up to 45c? I know that it would be impossible to work out the total bill of a customer and fiddle it that way, but what about items that are mostly single purchase?

If the scheme were to be rolled out nationwide, I'm sure it would all be done in a fair and transparent way... wouldn't it?

Pay by card for the ones that would be rounding up if 2c on a single purchase is that important!

Michael D Not Higgins

In Italy when they had the Lira they used to give sweets as change for the tiny amounts.

smcgiff

Individual products aren't rounded down (unless you buy just one product)*, it's your entire shopping purchase.

But, when you're at the petrol station, just remember to purchase €50.02. In 2500 fills you'll get a free fill up.


*It might finally get rid of the 99c pricing, as people will realise it actually is €1.

Gosub

elefant wrote: »

Pay by card for the ones that would be rounding up if 2c on a single purchase is that important!

I'm not sure you get the gist of the way it works. If you pay by card the rounding-up still happens.

Nidgeweasel

Michael D Not Higgins wrote: »

In Italy when they had the Lira they used to give sweets as change for the tiny amounts.

They're feckin' great, the Italians. Sexy sweet giving bastards.

elefant

Gosub wrote: »

I'm not sure you get the gist of the way it works. If you pay by card the rounding-up still happens.

This system has been in place in Holland for years, and that's how it works.

dulpit

Gosub wrote: »

I'm not sure you get the gist of the way it works. If you pay by card the rounding-up still happens.

I was under the impression that if you pay by card you pay the exact amount, but if you pay by cash it's rounded up/down...

Akrasia

smcgiff wrote: »

Individual products aren't rounded down (unless you buy just one product)*, it's your entire shopping purchase.

But, when you're at the petrol station, just remember to purchase €50.02. In 2500 fills you'll get a free fill up.


*It might finally get rid of the 99c pricing, as people will realise it actually is €1.

More likely instead of something costing a fiver, it'll cost 4.95 instead

mfergus

It means you get an extra 4 cent petrol. Oh I accidentally put in €40.04...

That reminds me, I'd the stingey thread gone?

mfergus

smcgiff wrote: »

But, when you're at the petrol station, just remember to purchase €50.02. In 2500 fills you'll get a free fill up.

I like your thinking but your not using it to the maximum potential. Why not 50.03 or 50.04!

Gosub

elefant wrote: »

This system has been in place in Holland for years, and that's how it works.

Maybe they were just using sharp practices in Wexford then. The total was taken from the till and rounded up/down and then you were asked for payment.

Now that you say it, rounding shouldn't be applied to card purchases as no coins are involved.

smcgiff

mfergus wrote: »

It means you get an extra 4 cent petrol. Oh I accidentally put in €40.04...

That reminds me, I'd the stingey thread gone?

Then you pay €40.05

BBDBB

yep get rid of them but start giving out plastic bags for free

Gosub

BBDBB wrote: »

yep get rid of them but start giving out plastic bags for free

No, can't agree with that. I remember the time when every hedge in Dublin (and probably every other city) was clogged with supermarket plastic bags. Largely getting rid of them was a good thing, in my view.

smcgiff

BBDBB wrote: »

yep get rid of them but start giving out plastic bags for free

Nah, that was a good idea.

But, I'd rather cut off my arm than pay 22 cent for one, and would prefer to walk around town like I just shop lifted my dinner.

thejaguar

It's been in place in Australia for years - if I remember correctly the retailers have some obligation to have prices that round up (.99 to 1.00) and some that round down (.97 to .95) in a certain proportion.

I might have made that up though, it was a long time ago that I was over there....

topper75

Nidgeweasel wrote: »

I don't think I've ever cared less about something in my entire life.

Sorry I couldn't be of more assistance.

Important we have your views of course in on this.

PM the OP and explain to them what threads you would like to see in future.

Good riddance to the pointless pocket trash. Was a bad idea to begin with. Here's hoping Brussels, Frankfurt, or wherever will act.

Nidgeweasel

topper75 wrote: »

Important we have your views of course in on this.

PM the OP and explain to them what threads you would like to see in future.

http://www.youtube.com/watch?v=-rYbSN-sGlI

6 Methyl Morphine !

elefant wrote: »

Pay by card for the ones that would be rounding up if 2c on a single purchase is that important!

+1

smcgiff wrote: »

Individual products aren't rounded down (unless you buy just one product)*, it's your entire shopping purchase.

+1

Gosub wrote: »

I'm not sure you get the gist of the way it works. If you pay by card the rounding-up still happens.

-1

elefant wrote: »

This system has been in place in Holland for years, and that's how it works.

+1

dulpit wrote: »

I was under the impression that if you pay by card you pay the exact amount, but if you pay by cash it's rounded up/down...

+1

The ignorance is mind-boggling. I lived in The Netherlands before and the whole bill is rounded up OR down. If it comes to 40.01 for example, then it is 40.00, if it comes to 40.02, then it's 40.00, 40.03 becomes 40.05 and 40.04 becomes 40.05.

if you pay by card, then prices stay same. Rounding was just done to eliminate the cost of producing 1 c and 2 c coins.

Although in Ireland I can see retailers getting away with rounding up individual items and rounding only up rather tan down too :rolleyes:

Unknown Soldier

I can never understand people who constantly pay by card. It's .20 a shot, unless you get your bank fees refunded.

.30 to withdraw a wad of cash.

calfmuscle

elefant wrote: »

Pay by card for the ones that would be rounding up if 2c on a single purchase is that important!

Not very clever if your bank charges you 29c per card usage.

syklops

Unknown Soldier wrote: »

I can never understand people who constantly pay by card. It's .20 a shot, unless you get your bank fees refunded.

.30 to withdraw a wad of cash.

Who are you banking with?!?

BetterThanThou

Unknown Soldier wrote: »

I can never understand people who constantly pay by card. It's .20 a shot, unless you get your bank fees refunded.

.30 to withdraw a wad of cash.

I've never heard of a bank that charges to pay by card, in fact, paying by card is encouraged now from what I've seen.

Khannie

Nidgeweasel wrote: »

I don't think I've ever cared less about something in my entire life.

Sorry I couldn't be of more assistance.

Thanks for your helpful contribution. I have a suggestion for the future which may help us all out - If you couldn't care less about a topic, extend that lack of care into not commenting on it.

jester77

Unknown Soldier wrote: »

I can never understand people who constantly pay by card. It's .20 a shot, unless you get your bank fees refunded.

.30 to withdraw a wad of cash.

You need to change banks.

Paying by card is so much easier, no having to queue for ATM, carrying cash and pocket full of change the whole time. Plus it's more secure for everyone. You don't have cash on you and the shop doesn't have cash in the till. And best of all is the transparency. You take €100 out of the ATM and then you can't remember how you spent it. With the card you have all your statements online and can see exactly what you spent it on.

Alun

I lived in the Netherlands too, and they were doing this long before the euro came into being. I believe Finland doesn't have 1 and 2c coins either.

But, of course, like many such discussions here, you'll get people who'll come up with all kinds of spurious arguments as to why such a simple thing, that works in many countries all over the world, couldn't possibly work her because we're somehow 'different'. Nonsense, just bring it in and be done with it, end of discussion, it'll all work just fine.

alexlyons

Michael D Not Higgins wrote: »

In Italy when they had the Lira they used to give sweets as change for the tiny amounts.

Your giving everyone diabetes, Joe. Its terrible! Think of the children!

28064212

BetterThanThou wrote: »

I've never heard of a bank that charges to pay by card, in fact, paying by card is encouraged now from what I've seen.

BOI and AIB both do it

Nidgeweasel

Khannie wrote: »

Thanks for your helpful contribution. I have a suggestion for the future which may help us all out - If you couldn't care less about a topic, extend that lack of care into not commenting on it.

Pass.

oldyouth

Retailers would prefer to round down than have to accept 1c and 2c coins in payment. The cost of lodging them to the business bank account is shocking

El_Dangeroso

syklops wrote: »

Who are you banking with?!?

I'm with BOI and they charge that, who doesn't? Serious question.

peter_dublin

El_Dangeroso wrote: »

I'm with BOI and they charge that, who doesn't? Serious question.

PTSB is free if you lodge 1500 a month into the account, I was getting charges of 80 - 100 every three months. 0 now with PTSB.

dxhound2005

6 Methyl Morphine ! wrote: »

+1


Although in Ireland I can see retailers getting away with rounding up individual items and rounding only up rather tan down too :rolleyes:

Shops can probably set their own prices on a lot of products. It is up to people to shop around. If a shop had put up the price of an item from 42c to 43c and you bought two for 86c would you let them away with rounding up to 90c?

m5ex9oqjawdg2i

In New Zealand the lowest amount you can see is 10cent I believe. Works a charm

syklops

El_Dangeroso wrote: »

I'm with BOI and they charge that, who doesn't? Serious question.

Im with PTSB and don't get charged for paying with the card.

Khannie

dxhound2005 wrote: »

Shops can probably set their own prices on a lot of products. It is up to people to shop around. If a shop had put up the price of an item from 42c to 43c and you bought two for 86c would you let them away with rounding up to 90c?

I'd have no problem rounding to the nearest 5C when the total is computed so if it's €11.28, I'd pay €11.30 for example, no problem. €11.27 and I get it for €11.25.

2c and 1c coins are a waste of time and effort. I believe that in the US they cost more to produce than they're worth. I'm not sure if the same applies here.

Bipolar Joe

6 Methyl Morphine ! wrote: »

The ignorance is mind-boggling. I lived in The Netherlands before and the whole bill is rounded up OR down. If it comes to 40.01 for example, then it is 40.00, if it comes to 40.02, then it's 40.00, 40.03 becomes 40.05 and 40.04 becomes 40.05.

Ah, now, I'd hardly call it ignorance. This whole thing was just very badly publicised and not explained too well. I'm living in Wexford, now, and there's still a good few people who don't understand how it works, not because of ignorance, just that like most things like this, the wording makes it sound far more confusing than it is.

dxhound2005

Khannie wrote: »

I'd have no problem rounding to the nearest 5C when the total is computed so if it's €11.28, I'd pay €11.30 for example, no problem. €11.27 and I get it for €11.25.

2c and 1c coins are a waste of time and effort. I believe that in the US they cost more to produce than they're worth. I'm not sure if the same applies here.

The same applies in the Euro zone. Coin hoarding must be to blame. I can never understand why people accumulate vast quantities of small change. And then some of them complain about how difficult it is to count them and how expensive it is get them changed.

http://euobserver.com/economic/120124

The production of 1 and 2 cent coins is clearly a loss-making activity for the euro area with the difference between the face value of the coins and the price paid by the state to get them pointing at an estimated total cumulative loss of €1.4 billion since 2002.

jester77

dxhound2005 wrote: »

I can never understand why people accumulate vast quantities of small change. And then some of them complain about how difficult it is to count them and how expensive it is get them changed.

They are a nuisance, worth feck all and no one wants them in their pocket taking up space. Lots of people just dump them in a jar. After a while the jar gets full of the bloody things.

dxhound2005

jester77 wrote: »

They are a nuisance, worth feck all and no one wants them in their pocket taking up space. Lots of people just dump them in a jar. After a while the jar gets full of the bloody things.

That's what is called coin hoarding and it is a complete waste of time.

I spend them in shops and I never have many in my pocket. If the bill is say €8.24 I would hand in €10.24.

Khannie

dxhound2005 wrote: »

The production of 1 and 2 cent coins is clearly a loss-making activity for the euro area with the difference between the face value of the coins and the price paid by the state to get them pointing at an estimated total cumulative loss of €1.4 billion since 2002.

F*CK ME! That is a disgusting waste of money. Excuse the pun.

SpaceTime

At this stage you'd think we'd just have anonymous, reloadable cards with contactless payment for small transactions.

Not everyone wants to use their debit card for tiny transactions, but some kind of a card you could reload at an ATM like cash would be a very useful cash replacement.

jester77

SpaceTime wrote: »

At this stage you'd think we'd just have anonymous, reloadable cards with contactless payment for small transactions.

Not everyone wants to use their debit card for tiny transactions, but some kind of a card you could reload at an ATM like cash would be a very useful cash replacement.

We have those here. You can add money directly onto your debit card. It's mainly used for vending machines but it's handy. I've never seen it used in stores or cafes.

Unknown Soldier

syklops wrote: »

Who are you banking with?!?

BetterThanThou wrote: »

I've never heard of a bank that charges to pay by card, in fact, paying by card is encouraged now from what I've seen.

jester77 wrote: »

You need to change banks.

Paying by card is so much easier, no having to queue for ATM, carrying cash and pocket full of change the whole time. Plus it's more secure for everyone. You don't have cash on you and the shop doesn't have cash in the till. And best of all is the transparency. You take €100 out of the ATM and then you can't remember how you spent it. With the card you have all your statements online and can see exactly what you spent it on.

You can all see a summary here.

http://compare.consumerhelp.ie/CurrentAccount

It is either by transaction for some or a quarterly fee for others. Some are set aside if you meet a certain criteria. Such as maintaining a certain amount in your account of a set lodgement per month.

I'm with AIB and don't get charged pay anything (I keep above the required amount and get refunded) but I mostly use cash now as I wanted to get back into the habit of it and leave less of a transaction trail of my daily/weekly spending tbh.

oldyouth

Seriously lads, roughly how many transactions do you do a day? (petrol, odd coffee, milk/bread, etc). I would do approx 4. If the retailer rounded up each and every time, then that is nearly 10c a day or 70c a week. How many of lose that down the back of a chair each week?

Get rid of the feckers and let the retailers round up or down to their hearts content

AlmightyCushion

Unknown Soldier wrote: »

I can never understand people who constantly pay by card. It's .20 a shot, unless you get your bank fees refunded.

.30 to withdraw a wad of cash.

I don't understand people who pay exorbitant banking fees when they can get free banking.

Fred Swanson

This post has been deleted.

kneemos

Fred Swanson wrote: »

Ulster Bank charge me €4 a month for unlimited transactions.

It was free up until recently so I hope you don't think that's a bargain.It's just a new revenue source to pay for the Celtic Tiger.

SpaceTime

jester77 wrote: »

We have those here. You can add money directly onto your debit card. It's mainly used for vending machines but it's handy. I've never seen it used in stores or cafes.

The banks in Ireland seem to just prefer the idea of exposing your current account to maximum fraud risk by enabling contacless payments on your debit card.