I received the above notification today. A new client has put a penny in our bank account. We haven’t started the project (or even signed the contract) yet; this is clearly some validating that they have the correct bank details in their system.

I appreciate the gesture (better to work it out now then when they actually owe us something), but it’s such a weird artifact. There’s some interesting signal processing thing happening here; the message (“Hello Portigal bank account, are you receiving?”) isn’t meant to contain any actual content (“Here’s some money!”) but the system doesn’t allow any contact without content, so $0.01 is this meaningless amount that gets moved in order to prove out the connection.

I’ve authorized services like PayPal or Quickbooks to read and write my bank account; if I recall, they send a value below $1.00 and then ask you to verify the amount.

But this is just write access and we’re still doing ping/validations.

Will they deduct $0.01 from my first invoice? Will they try to get it back? Are penny errors so common now that there’s no concern about these piling up here and there?

Otherwise, I guess, woo-hoo! Free money!