Do banks round up?

Do banks round up? It’s a commonly used method for rounding taxes. Rather than rounding 0.5 and higher up, and 0.4 and lower down, bankers rounding rounds 0.5 to the nearest even number. Essentially if the cent value of the tax total is odd, the 0.5 (half-cent) rounds upwards; If the cent value is even, the half-cent rounds it downwards.

It’s a commonly used method for rounding taxes. Rather than rounding 0.5 and higher up, and 0.4 and lower down, bankers rounding rounds 0.5 to the nearest even number. Essentially if the cent value of the tax total is odd, the 0.5 (half-cent) rounds upwards; If the cent value is even, the half-cent rounds it downwards.