[Mr Medved]

I had to make a bank deposit today (physical currency) but decided to do something a little different. Instead of depositing a whole dollar amount (i.e. $100) I decided to add two cents to the deposit (i.e., $100.02).

I provided the teller a coin for the payment of 2c, but was told it was not necessary. I was effectively given two cents by the bank.

This raises a few interesting questions (to me) about how they account for this and whether or not they've just expanded the "money" supply and created "money from thin air"... this seems to be a different scenario to traders rounding their transactions for sale of goods/services... or maybe it's not different...?

[AndersB]

Aagh! Don't get me started on banks!

Let me tell you what happened to me at a bank I no longer use:

I wanted $3000 in cash. The ATM would only let me withdraw $1000 in a day. I walk in to the bank branch and request a withdrawal of $2000.

Teller: "That will cost $2 in fees for a staff assisted withdrawal."

Me: "What? You are going to charge me a fee for giving back my money?"

Teller: "Unfortunately, sir. Those are the rules linked to this account"

Me: "How much does it cost to close down the account?"

Teller: "Oh, uhm.... nothing"

Me: "OK, let me close down this account then, please."
Me: "BTW, does it cost anything to open a new account to deposit the difference?"

Teller: "Ah, uhm, eh, let's not do anything rash! Let me talk to my manager..."
Teller: "The manager has waived your withdrawal fee, in this instance..."

[ponder]

AndersB, on 01 April 2011 - 04:38 AM, said:

Aagh! Don't get me started on banks!

Let me tell you what happened to me at a bank I no longer use:

I wanted $3000 in cash. The ATM would only let me withdraw $1000 in a day. I walk in to the bank branch and request a withdrawal of $2000.

Teller: "That will cost $2 in fees for a staff assisted withdrawal."

Me: "What? You are going to charge me a fee for giving back my money?"

Teller: "Unfortunately, sir. Those are the rules linked to this account"

Me: "How much does it cost to close down the account?"

Teller: "Oh, uhm.... nothing"

Me: "OK, let me close down this account then, please."
Me: "BTW, does it cost anything to open a new account to deposit the difference?"

Teller: "Ah, uhm, eh, let's not do anything rash! Let me talk to my manager..."
Teller: "The manager has waived your withdrawal fee, in this instance..."

Gold.

[savagegoose]

classic, ill have to use that

[Ruffian]

AndersB, on 01 April 2011 - 04:38 AM, said:

Aagh! Don't get me started on banks!

Let me tell you what happened to me at a bank I no longer use:

I wanted $3000 in cash. The ATM would only let me withdraw $1000 in a day. I walk in to the bank branch and request a withdrawal of $2000.

Teller: "That will cost $2 in fees for a staff assisted withdrawal."

Me: "What? You are going to charge me a fee for giving back my money?"

Teller: "Unfortunately, sir. Those are the rules linked to this account"

Me: "How much does it cost to close down the account?"

Teller: "Oh, uhm.... nothing"

Me: "OK, let me close down this account then, please."
Me: "BTW, does it cost anything to open a new account to deposit the difference?"

Teller: "Ah, uhm, eh, let's not do anything rash! Let me talk to my manager..."
Teller: "The manager has waived your withdrawal fee, in this instance..."

And Anders wins today's prize for most effective negotiation techniques.
What a classic...

[staringclown]

Nice!