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Mathematical error or an intentional mistake?

Western Union money transfer (FOREX BANK)

Anda Zevedei
post 25.Feb.2013, 09:31 AM
Post #1
Location: Stockholm county
Joined: 15.Jan.2013

Hello everyone and good morning from foggy Nasby Park area.
Yesterday I have made a money transfer and only back home in the evening, I have observed an error in the multiplication of amount of money sent with the exchange rate. These are the numbers: money amount sent --> 2.250 SEK X 0,4917 which is the exchange rate to 1 RON (the Romanian currency) = 1.106,28 as payout amount. The correct answer is: 1.106,32. You can see that the difference is small, very small: 0.04 but still, it exists and I don't think it should. Please correct me if I am wrong...I am asking for advice..what to do: ignore the situation? or complain about it..? And I am wondering if such a thing happened to anyone else. Thank you.
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johnjohn
post 25.Feb.2013, 09:37 AM
Post #2
Joined: 10.Dec.2010

Oh the humanity!
 
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PDX
post 25.Feb.2013, 09:39 AM
Post #3
Location: Stockholm
Joined: 2.Aug.2011

QUOTE (Anda Zevedei @ 25.Feb.2013, 10:31 AM) *
Hello everyone and good morning from foggy Nasby Park area.Yesterday I have made a money transfer and only back home in the evening, I have observed an error in the multiplica ... (show full quote)


Write a letter to the King. He has ultimate power and his job is to take care of common matters such as this.

By the way, the correct answer is not 1.106,32, rounding properly it is 1.106,33.

~~~PDX~~~
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Johno
post 25.Feb.2013, 09:41 AM
Post #4
Joined: 23.Jul.2008

Simple answer. As PDX says above its a rounding issue. The exchange rate applied was 0.49168. The quoted rate has been rounded to 4 significant figures. Stop nit picking. Why do you want advice over this ? Get a life.
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PDX
post 25.Feb.2013, 09:42 AM
Post #5
Location: Stockholm
Joined: 2.Aug.2011

QUOTE (Johno @ 25.Feb.2013, 10:41 AM) *
Simple answer. The exchange rate applied was 0.49168. The quoted rate has been rounded to 4 significant figures. Stop nit picking.

Still worth writing to the King though... OP was obviously scammed.

~~~PDX~~~
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Johno
post 25.Feb.2013, 09:54 AM
Post #6
Joined: 23.Jul.2008

laugh.gif
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Anda Zevedei
post 25.Feb.2013, 10:08 AM
Post #7
Location: Stockholm county
Joined: 15.Jan.2013

@ johnjohn: I don't see what 'humanity' has to do with it but thank you still at least for the picture smile.gif
@ PDX: I knew rounding 'properly' from 32 to 33 as in this case, would apply if the 3rd digit would be more than 5; the calculator used gave me 1106.325 so I just wrote 1106.32 AND no, I won't disturb the King with such a small matter, I leave that for its servants, you maybe being one of them smile.gif
@ johno: no, the exchange rate applied was as written on the paper and seen in their computer, as they were nice to show me, 0.4917. I expected that to be the exact rate, and not a rounded one as you say. The 'get a life' was mean and so unnecessary, by the way. Have a nice life smile.gif
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Johno
post 25.Feb.2013, 10:18 AM
Post #8
Joined: 23.Jul.2008

You still dont know whether for the actual calculation they used 0.49168 rather than 0.4917 just because that is what showed on a screen and then what you expected. Perhaps you should have carried out the transaction at a bank counter and not have had it paid into an account. Then they would have give you only 1.106 and you really would have had something to complain about.
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Anda Zevedei
post 25.Feb.2013, 10:34 AM
Post #9
Location: Stockholm county
Joined: 15.Jan.2013

@ johno: yes, I expected 0.4917 to be the rate they used for the calculation. I mean, if they used 0.49168 fine by me but why show a rate, but use another, rounded or not. The transaction was carried out at a bank counter, at a Forex Bank counter AND I didn't pay it into an account. The rate they used is not a problem for me, but the fact that I expected they use for 'the actual calculation' the rate they displayed it for everyone to see and not another.
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Anda Zevedei
post 25.Feb.2013, 10:38 AM
Post #10
Location: Stockholm county
Joined: 15.Jan.2013

@ johno: and NO, I am not complaining about the rates. I am just sharing this..
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Johno
post 25.Feb.2013, 10:40 AM
Post #11
Joined: 23.Jul.2008

The amount you are complaining about is dwarfed by day to day and even hour by hour variation in exchange rates. But the best advice for you is to go everywhere armed with a pocket calculator so that you can check all transactions down to the nearest öre and argue your case at the time. It clearly is a big issue for you. But not for me any more. Hej då!
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wondering
post 25.Feb.2013, 10:46 AM
Post #12
Joined: 3.Oct.2011

Not surprised !

The thing is that these 'small' things add up.. and generates some profits for the companies.

Examples: http://www.huffingtonpost.com/2012/08/28/c..._n_1837385.html

It's the same when you are shopping ... If you buy something for 128.33 and pay cash you get back 1 crown.. who takes the 0.67 SEK ?
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Anda Zevedei
post 25.Feb.2013, 10:52 AM
Post #13
Location: Stockholm county
Joined: 15.Jan.2013

(giggles) @johno: I do know about the variations in exchange rates as I worked almost 3 years in this field wink.gif but I do know about displaying the exact rate used in a transaction too. You didn't understand my point of view, it's ok. And yes, this is what I will do from now on, carry a pocket calculator so I can point out a mistake, but no, not argue. It would have been a big issue if the difference would have been significant and then I would have complained about it officially but it's not the case. Thanks for the comments anyway. Hej då yourself smile.gif
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Anda Zevedei
post 25.Feb.2013, 11:00 AM
Post #14
Location: Stockholm county
Joined: 15.Jan.2013

@wondering: exactly, this was the same thought that popped out in my mind as well. And the problem is, that in some cases, it's not even a question of who takes the 0.67 SEK but are you even given that 0.67 SEK at all?
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Anda Zevedei
post 25.Feb.2013, 11:13 AM
Post #15
Location: Stockholm county
Joined: 15.Jan.2013

well, the fog blanket that was covering the area I live in is lifted; it's sunny and a clear sky now and so I will return to my daily routines. Thanks to everyone that commented on my post and I wish you all a nice week smile.gif
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