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| Thread ID: 51109 | 2004-11-11 21:04:00 | OT - Would you like to see the 5c go? | SKT174 (1319) | Press F1 |
| Post ID | Timestamp | Content | User | ||
| 290929 | 2004-11-12 00:02:00 | I usually use my eftpos or credit card when purchasing, because say something is $1.98 and if you pay by cash, then you pay $2. It all adds up each time you go to the supermarket. You could save up to $10 over the course of a year by just paying with eftpos because it goes by the exact amount. *Hugs fee free bank account*. Very little stores round down like that to keep customers happy, most use Swedish rounding, I think 7 cents and up they round up to the nearest dollar? I also like to use my credit card for each transaction. Makes them pay the merchant fee and I get cash back points. ]:) |
alphazulusixeightniner (185) | ||
| 290930 | 2004-11-12 00:07:00 | i work at a um, very large retail store (which btw has already started the christmas carols) . After working on tills, you find that 5c coins are the bain of your life . Its also a pain due to the round down policy - so many transactions require getting 5c coins out, which are so small that people just put them in the charity boxes anyway (which is a good thing really) . The only reason prices have been put at 19 . 95 or what ever is to make it seem cheaper than it actually is, people will just have to get used to seeing $20 . 00 . Continuing the money making from rounding up, when i run end of day on tills it states how much money has been lost from rounding down, and on some of the busiest tills on a normal day it can reach upto $40, multiply that by a few tills and you could lose $200 a day easy . - David |
DangerousDave (697) | ||
| 290931 | 2004-11-12 00:43:00 | > > even parking meter doesn't accept it. > > The ones round here won't accept $10.00 notes either. > Your suggestion is? If the government itself won't even accept 5c then why should we? If you want the parking fees to increase $10 an hour I'm sure they will accept $10 notes, until then it's inappropriate for the meters to accept $10 notes. |
SKT174 (1319) | ||
| 290932 | 2004-11-12 01:19:00 | > Continuing the money making from rounding up, when i > run end of day on tills it states how much money has > been lost from rounding down, and on some of the > busiest tills on a normal day it can reach upto $40, > multiply that by a few tills and you could lose $200 > a day easy . This is of course with a turnover of thousands . . . . Compare it to how much total has been placed into the till, and also how much (estimated) profit would be already made . From there you'll see its rather insignificant I feel . |
Chilling_Silence (9) | ||
| 290933 | 2004-11-12 03:47:00 | Getting rid of them will instantly raise the cost of living as manufacturers and stores change their prices to get them close to the 10cent mark. You can bet they will not drop them down to the nearest 10 cent mark so inflation suddenly goes up. It will still affect you even if you use EFTPOS as they will make the prices close to 10 cents so having to work out all that horrible rounding in the store. |
Big John (551) | ||
| 290934 | 2004-11-12 03:56:00 | I used to work in a large retail store where it was considered quiet to be putting through less then 60 transactions per hour for each staff member. Some days we could get over 90 transaction per hour. We used the swedish rounding system (6 & 7 cents were rounded down, 8 & 9 cent were rounded up), but the difference in the shift totals due to rounding would always be less then $1 | 4bes (2848) | ||
| 290935 | 2004-11-12 11:42:00 | Well I'm against it going, that's for sure. I'm pretty sure the US still have one cent coins - and given the current exchange rate, that's not even the equivalent of two cents here - yet we abandoned one, two, and three cent coins long ago. I think it's also wrong to say that not many people pay by cash these days. Spend a few hours in a large retail store and you'll probably see what I mean. Not everybody have free transactions, either. I always use cash when I make payments (even though I wouldn't get charged transaction fees for EFTPOS anyway), but it's personal preference. On a similar note, how many people are concerned about websites that leave cookies, which may be used to track your browsing preferences, or such similar matters? I wonder how many of those same people are concerned that cards like Fly Buys, or Progressive Enterprises OneCard, may be used to track your purchasing preferences. |
agent (30) | ||
| 290936 | 2004-11-12 18:24:00 | I too would not like to see them go, mainly because of the effect on prices it would have as retailers adjust. Removing the 1c and 2c wasn't a major because it was only a couple of cents difference in prices (due to rounding), but removing the 5c will make it a little more interesting - prices will go up to make it easier on the stores to start with, and then they'll be rounding up after that anyway so in the end you're paying even more. > On a similar note, how many people are concerned > about websites that leave cookies, which may be used > to track your browsing preferences, or such similar > matters? I wonder how many of those same people are > concerned that cards like Fly Buys, or Progressive > Enterprises OneCard, may be used to track your > purchasing preferences. Interesting thought. On top of that a cookie doesn't necesarily know who you are, but a flybuys or one card has your name and other details attached. Someone is watching ;) Mike. |
Mike (15) | ||
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