That is pretty cheap, and I can opt out (I have). These were all USAA administered DRIP transactions.
To clarify, many of the transactions were off by 1/2 of a cent or less, but several were off by .02, .03, .05, .14, and up to .54 (among several accounts). It adds up over time and I would not consider these to be large accounts.
But the Customer Account Agreement clearly says, “No commissions will be charged for these transactions.” Additionally, there is no mention that any excess dividend that is not converted into fractional shares will be diverted to a charity of their choice.
If you don’t manually calculate these things, you’d never know it was happening. The statements show incorrect calculations (i.e. Quantity 0.125 X Price $631.65 = Amount $79.50). This does not compute. This would never fly on a credit card statement or corporate financial statements.
