What is the degree of “nickel rounding” that occurs with Swiss francs?

Question

I am trying to implement currency handling for 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, e-commerce, etc.)
There is a bit of confusion surrounding Swiss francs… According to the Unicode Detailed Territory-Currency Information tables, Switzerland adheres to the same digits and rounding principles as Canada. In the latest ICU version 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?

xyious · Accepted Answer

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.

What is the degree of “nickel rounding” that occurs with Swiss francs?

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