2

I am trying to implement currency handling with Swiss Francs (CHF). In Canada, we have removed our penny from our currency circulation, but digitally the penny amount ($0.01) still exists (bank accounts, ecommerce, etc.)

There is a bit of confusion surrounding Swiss Francs… According to the Unicode specification of digits and rounding (https://unicode.org/cldr/charts/latest/supplemental/detailed_territory_currency_information.html) Switzerland adheres to the same digits and rounding principles as Canada. In the latest ICU version (http://site.icu-project.org) there is no more nickel rounding for the Swiss franc when outputting formatted currency amounts.

Do these digit and rounding principles also take place digitally? When are Swiss Franc amounts rounded to the nearest 0.05 vs. not? Thank you!

|improve this question
  • The nickel is still being minted and circulated in Canada. Perhaps you mean the penny. See, for example Canadian Nickel. – Nick R Feb 7 at 2:01
1

No.

The only reason to do it in the store is that it's impossible to just cut other coins into pieces. Also over many transactions you'll get very close to the actual amount with half of them rounded down and half rounded up.

With bank accounts there's simply no need (and no legal way) to do it. The bank can't suddenly decide to steal pennies from you. They're under very strict reporting rules.

|improve this answer
  • You are correct. After more digging on our side, we've also discovered that major payment gateways deal with CHF 0.01 amounts. For example, check out the Runkit API box on stripe.com/ch... If you use a non-nickel-rounded amount with the chf currency, the transaction processes correctly. – 1000Nettles Feb 8 at 0:12

Your Answer

By clicking “Post Your Answer”, you agree to our terms of service, privacy policy and cookie policy

Not the answer you're looking for? Browse other questions tagged or ask your own question.