0.000001%? Really?
And if it was your fault there would have been a bill for $10k and court summons.
this post was submitted on 27 Oct 2026
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lmao. floating point precision issue?
Seems plausible. It could also be a difference of "rounded up when any remainder is required to be floored." That percentage is $0.01 on $1,000,000, so anything ~$500,000 or above would create an issue.
This might also explain the blanket $2, if this went out to a wide range of portfolios. $2 would cover anything up to a $200M value.
I'm floored by the whole thing ;-)
Is there context I'm missing here?
Same question lol
The original picture was a letter from a financial institution saying they made a calculation error of .0000001% on interest for OPs mortgage (I think) and refunded him $2 for the inconvenience.
Dunno why the pic got swapped with the meme.
The law is the law! and accountants are autistic people that demand monetary perfection! I should know, I have a daughter that is a CPA.
Lol okay, wtf
I didn't even know they cared about such errors.
Oh mien Gott! They care very deeply. Perfection or Death!
Source: I have a Daughter that is a CPA.
I think the original photo accidentally included OP's personally identifying information
I mean... they could have said nothing, pocketed the 2$ and wouldn't have lost face... them admitting this is... funny, because the amount is so small, but it's still a good thing.
Yes, but this is RBC. The nicest and least competent of the big five banks in Canada.
Least competent or least incompetent? The way you phrased it makes me think you have a typo but I’m not Canadian.
I think it's the case of "they're required to do that by government" or sth like that. Otherwise they would not do it, furthermore they might just have "errors" regularly that takes more money from people
And that's why you never use floating point arithmetic in finance.
Wow two loonies?
That and two more loonies could buy a coffee!
Very important: make sure you put that $2 toward principal so that interest doesn't accrue on it.
Congratulations on your windfall. Maybe share your tips to achieving financial independence by cross-posting to !personalfinancecanada@lemmy.ca.
The fuck is the other option than putting it towards principal? It's compound interest, no?
Typically when you make a manual payment on a mortgage it will give you a couple options, including "regular payment" and "principal only." The former will go toward your next regular payment, so if your standard automatic payment is $1000 and you pay $2 manually, your next automatic draft would be $998.
Ok so what's the difference between putting it towards principal vs interest?
If you don't specify they automatically put any extras towards interest so you're not reducing the principal.
What?? Are they somehow different? Does interest not accrue on interest?
If it's applied to the interest, it takes $2 off the total because you're always paying off the last month first. (Yes it's predatory and that's how mortgages work) If it's applied to the principal it takes off $2 plus the interest that would have accrued on that $2 from the time of payment to the time you finally pay it off completely.
Unless I'm wrong. I'm not an expert. But we paid off the mortgage for our condo early (got a windfall) and that's how I understood what I was told at the time. It's a reason some loans have a prepayment penalty; don't get one of those.
Oh so it's just off by one month. That makes sense.
A toonie saved is a toonie earned
Is that your interest rate or your phone number!
This is a very RBC letter. I hope you may enjoy a Tim’s small coffee due to this windfall.
Free at last
Well, no, the house still costs money, just $2 less ;-)
Thanks, dad
Anytime, son. You're doing really well. You've got a handle on life and I know there are struggles, but you're handling them.
Rejoice! Go buy a Beaver Tail!
When my company switched HSA providers I transferred my balance from the old company to the new company. While the transaction was processing the interest payment hit the account and my balance ended up being more than my transfer by $0.01. The company ended up sending me a check for the 1¢ but I never bothered cashing it.
OP:
But seriously, what are you going to do with your new found wealth?
After I bought my house, after the notary, mortgage paper, etc. after maybe 3 weeks I received a registered letter from the notary with an explanation letter about rounding error and enclosed was a 1¢ check, yes, a $0.01 check. In the letter it was written that I please must deposit it or the notary book will not balance.