Ireland to phase out 1 cent and 2 cent coins

5starpool

Individual items won't be rounded (unless you are only buying a single item), it's only the final total that will be rounded. If you buy 4 tins of beans at .89 each, it'll cost €3.56 which will be rounded to €3.55.

I'm not sure why anyone thinks it'll lead to price rises other than the usual "the fecking shops/pubs/etc will use any opportunity to gouge us" type argument, and I'm hoping there will be some sort of consumer watchdog or ombudsman, etc, looking to make sure this happens as little as possible.

Greenmachine

5starpool wrote: »

Individual items won't be rounded (unless you are only buying a single item), it's only the final total that will be rounded. If you buy 4 tins of beans at .89 each, it'll cost €3.56 which will be rounded to €3.55.

I'm not sure why anyone thinks it'll lead to price rises other than the usual "the fecking shops/pubs/etc will use any opportunity to gouge us" type argument, and I'm hoping there will be some sort of consumer watchdog or ombudsman, etc, looking to make sure this happens as little as possible.

Some people are ridicolously suspicious of change.

Badly Drunk Boy

jonnypacket wrote: »

Prices will remain the same if paying with card. You should be charged a premium if you insist on paying with cash, in my opinion. It's an antiquated method of payment the belongs in the last century and involves costly security transportation to banks not to mention time wastage in counting it.

Debit card master race here.

I'm all for getting rid of the 1c and 2c coins, but I find paying by cash much handier than by card. You hear 'card' people complaining about others having their shopping scanned through and only then look for their money. People with cards do this too.

Also, while waiting for somebody rummaging through their purse or wallet for money is annoying, it's equally annoying waiting for somebody with their super-efficient card to clear the machine.

Personally, I just have my shopping scanned through, hand over the 50 or 20 quid note, and get my change within seconds.

Enjoy Heroin Responsibly

The Rodgers wrote: »

It's a slippery slope, always starts like this. Next it will be rounding to the nearest 10c, then euro, then tenner, and so on.

It all started with the abolition of the quarter farthing (0.0330661458333333 cent) in 1869

I WANT MY QUARTER FARTHINGS BACK

murpho999

murpho999 wrote: »

The Dutch are tight feckers and wouldn't let shops away with sneaky rounding up!

Yet they round up half the time, just like what's being promoted here.

murpho999

Deleted User wrote: »

Yet they round up half the time, just like what's being promoted here.

Yes, but the other half the time they round down...so it balances out!

murpho999

Badly Drunk Boy wrote: »

I'm all for getting rid of the 1c and 2c coins, but I find paying by cash much handier than by card. You hear 'card' people complaining about others having their shopping scanned through and only then look for their money. People with cards do this too.

Also, while waiting for somebody rummaging through their purse or wallet for money is annoying, it's equally annoying waiting for somebody with their super-efficient card to clear the machine.

Personally, I just have my shopping scanned through, hand over the 50 or 20 quid note, and get my change within seconds.

I don't see how paying by cash is quicker than cards when you take into account change giving etc.

Also, contactless payments coming on board now are very quick as well.

Think that will really take off when it comes to our phones.

GreatDefector

jonnypacket wrote: »

cash, in my opinion. It's an antiquated method of payment the belongs in the last century and involves costly security transportation to banks not to mention time wastage in counting it.

Exactly! And who pays that? The retailer! The same retailers that charge you directly or impose minimum spends when you pay by card

Don't hear them moan about securicor fees, lodgement fees and paying people to cash up, which isnt needed with cards

ScumLord

5starpool wrote: »

Individual items won't be rounded (unless you are only buying a single item), it's only the final total that will be rounded. If you buy 4 tins of beans at .89 each, it'll cost €3.56 which will be rounded to €3.55.

They'll be able to price everything so that it always toots up to €xx.33 or €xx.38, they'll make millions rounding up. Or waste millions trying to price everything so it always lands on 38c.

Enjoy Heroin Responsibly

Self service checkouts (especially the ones with those half funnel things one throws the coins into) used to be handy for getting rid of unwanted changes until the feckers started reprogramming them to give out more small coins than one put in.

Now one has to dump in all their small change and pay the balance by card

Markcheese

ScumLord wrote: »

They'll be able to price everything so that it always toots up to €xx.33 or €xx.38, they'll make millions rounding up. Or waste millions trying to price everything so it always lands on 38c.

How will a shop be able to do this - the shop don't control how many items you buy- if you buy 3 or 4 1.99 items you'll be up a cent or 2 (as they round down)
If you buy 1 or 2 1.99 items you'll be down a cent or 2-
Spars and convenience stores may win out a bit -

Darkglasses

How do some people not understand how this works. I mean seriously.

It has worked well in Wexford, its good for everybody.

mad muffin

They did this in Australia some 25 years ago.

Jesus Wept

Deleted User wrote: »

Hasn't happened after 10+ years in Holland. Only reason for it would be high sustained inflation which isn't looking like an issue any time soon.

Darkglasses wrote: »

How do some people not understand how this works. I mean seriously.

It has worked well in Wexford, its good for everybody.

If Wexford stuck their head in the fire, etc , etc

SpaceTime

Irish banks need to drag their collective behinds into the 21st century. They've rolled out extensive contactless technology for payments and aren't promoting it properly and they've imposed a fee structure that encourages cash use!

They blame "cultural issues" for high cash use - the only cultural issue is their culture of gouging people with fees.

I also discovered to my horror that AIB limits you to 10 debit card transactions per day. I was wandering around making small payments by contactless card and chip and pin as I had free transactions and suddenly my card was declined. Rang AIB to be told oh there's. Ten tx per day limit !!!!????

I can only assume they actually enjoy cash-in-transit robberies and that they think handling cash is free of costs (far from it)

I just cannot understand why they bothered equipping every debit card with contactless chips and rolling out advanced card terminals then not bothering to promote, imposing ridiculous restrictions and constantly threatening fees on people!

What will ultimately happen is new banks under the soon to be a reality EU open banking market arrangements will actually start offering decent merchant and customer services and we can say good riddens to the "big four".

JustTheOne

Wouldn't a cashless society make drug dealing extremely difficult?

Eugene Norman

ScumLord wrote: »

They'll be able to price everything so that it always toots up to €xx.33 or €xx.38, they'll make millions rounding up. Or waste millions trying to price everything so it always lands on 38c.

There is no way to do that.

Eugene Norman

SpaceTime wrote: »

Irish banks need to drag their collective behinds into the 21st century. They've rolled out extensive contactless technology for payments and aren't promoting it properly and they've imposed a fee structure that encourages cash use!

They blame "cultural issues" for high cash use - the only cultural issue is their culture of gouging people with fees.

I also discovered to my horror that AIB limits you to 10 debit card transactions per day. I was wandering around making small payments by contactless card and chip and pin as I had free transactions and suddenly my card was declined. Rang AIB to be told oh there's. Ten tx per day limit !!!!????

I can only assume they actually enjoy cash-in-transit robberies and that they think handling cash is free of costs (far from it)

I just cannot understand why they bothered equipping every debit card with contactless chips and rolling out advanced card terminals then not bothering to promote, imposing ridiculous restrictions and constantly threatening fees on people!

What will ultimately happen is new banks under the soon to be a reality EU open banking market arrangements will actually start offering decent merchant and customer services and we can say good riddens to the "big four".

Well the limit on contactless cards makes sense, because it could be stolen. I agree with the rest though. That said either BOI don't charge me for using a debit card or its hidden. But I don't see it.

Eugene Norman

The Rodgers wrote: »

If Wexford stuck their head in the fire, etc , etc

Ok. Let's generalise it. If a sizeable town in Ireland culturally similar to the rest of the country introduced a pilot scheme to get rid of pennies and the customers and shop keepers were happy why wouldn't the rest of us do it? Who likes pennies?

Carlos Orange

Would it not be simpler to just stop the ridiculous practice of pricing things with a .99 at the end.

Sheldons Brain

Any form of legalised overcharging is not good. Another benefit from the FG/Lab.

Eugene Norman

psinno wrote: »

Would it not be simpler to just stop the ridiculous practice of pricing things with a .99 at the end.

This might encourage that. But they do that because it works.

Axel Lamp

Sheldons Brain wrote: »

Any form of legalised overcharging is not good. Another benefit from the FG/Lab.

Sure thing, ring joe about it.

LDN_Irish

Eugene Norman wrote: »

Well the limit on contactless cards makes sense, because it could be stolen. I agree with the rest though. That said either BOI don't charge me for using a debit card or its hidden. But I don't see it.

They were charging something like 11.50 per quarter but they've apparently reverted back to 20c per card use. I get an invoice along with my statement every quarter. Cunce.

Carlos Orange

Eugene Norman wrote: »

This might encourage that. But they do that because it works.

Mandating that prices be rounded down to the nearest 5 cent would probably work better.

PARlance

Greenmachine wrote: »

Some people are ridicolously suspicious of change.

Even small change like 1 & 2 cent

Enjoy Heroin Responsibly

The Irish decimal halfpenny was phased out between 1985 and 87 Its value was 0.63487 cent. For years before that the majority of shops had stopped pricing individual items to halfpennys anyway (Quinnsworth IIRC was almost the sole exception for some reason)

0.63487 cent in 1987 prices is worth considerably more than two cents in 2015 prices -hell it wa probably worth more than two cents when the Euro was introduced

One and two cent coins should never have been introduced in the first place.

JustTheOne wrote: »

Wouldn't a cashless society make drug dealing extremely difficult?

Or working cash-in hand

Whether this would be a good, bad or mixed thing is a matter of opinion.

I suspect there are large sections of the economy (take-aways, backstreet garages, carpentry, plumbing) which would not be viable in such a scenario

DoYouEvenLift

jonnypacket wrote: »

That's because Ireland insists on using dated chip and pin technology which takes forever while the rest of the world simply swipes their card and walks away.

This. Why the FUK won't sh!tty shops just update their fuking technology. The quicker their customers can pay the better since it can cause positive opinions to other customers since they don't have to spend ages waiting. Such a pleasure when you pay by card with an NFC machine, takes a second.

Capt'n Midnight

LadyFenghuang wrote: »

You can't really use them anymore.

The only thing they are good for is saving them up changing them at the bank and giving to charity really.

Soon there'll be another use.

if a shop charges you €3.03 they'll expect to be paid €3.05

this is when you dig deep into your pockets and produce the 3c

yielding you a return of 66% on your investment cha-ching :cool:

Capt'n Midnight

ScumLord wrote: »

I can appreciate they have overheads from providing the system but it's certainly not €0.20 a transaction overheads, that's obscene profiteering. After all the crap the banks put this country through and the money they took to bail themselves out of the hole they dug from themselves.. All the while they're quietly worming their way into getting a cut of every purchase made in the country. Think of how much money that must generate.

This is why Korea setup a centralised exchange to do this. Contactless payment by mobile phone everywhere. But without the greedy charges here that strangle it.

In East Africa it's M-Pesa and M-Pwaw and in places where you can get 5c topups you can be sure they aren't charging 20c per transaction.