Rm110 for RM100 worth of Rm1 coins
See... if only our BN comes up with incentives like this, i guarantee you all the banks will be jam packed with people everyday and the mop-up process will go very smooth. No need to wait for the Dec 7 dateline to collect all the RM1 coins lah.
And they no longer have to chide the petty traders, restaurants and retailers for re-circulating it back to the public. In fact, all traders will service their customers that pays with RM1 coins with a smile and teh-ping on-the-house leh.
The truth is all the shops and coffee-shops that i frequent refuse to accept the coins as legal tender although the given dateline is Dec 7. My container of about RM20+ worth of coins is still sitting in the car. No point arguing with them about the dateline thing also. No means no, period.
Why are they refusing? They are worried that they might be short-changed by the banks. They are worried that the banks might imposed service charge for exchanging them. Even with the awareness campaign going on, they are still worried.
I called up a few friends of mine who work at the banking institutions just now. I asked them about the charges and the one crucial thing that's on my mind and i guess on many others' too.
"What about the coins formerly rejected and returned by one neighbourhood bank on suspicions that they may be fakes?"
They all tell me the same thing. No charges are imposed whatsoever and no questions asked on the latter issue.
So, i'm going to the bank tomorrow to exchange my container of RM1 coins for paper money. And remember, we CAN refuse them as change. Traders are supposed to accept them and not re-circulate them back to the public.
And they no longer have to chide the petty traders, restaurants and retailers for re-circulating it back to the public. In fact, all traders will service their customers that pays with RM1 coins with a smile and teh-ping on-the-house leh.
The truth is all the shops and coffee-shops that i frequent refuse to accept the coins as legal tender although the given dateline is Dec 7. My container of about RM20+ worth of coins is still sitting in the car. No point arguing with them about the dateline thing also. No means no, period.
Why are they refusing? They are worried that they might be short-changed by the banks. They are worried that the banks might imposed service charge for exchanging them. Even with the awareness campaign going on, they are still worried.
I called up a few friends of mine who work at the banking institutions just now. I asked them about the charges and the one crucial thing that's on my mind and i guess on many others' too.
"What about the coins formerly rejected and returned by one neighbourhood bank on suspicions that they may be fakes?"
They all tell me the same thing. No charges are imposed whatsoever and no questions asked on the latter issue.
So, i'm going to the bank tomorrow to exchange my container of RM1 coins for paper money. And remember, we CAN refuse them as change. Traders are supposed to accept them and not re-circulate them back to the public.
5 comments:
The qestion begging to be answered is how did BNM failed to ensure that the coin could not be counterfeited?
It's a good move to have RM1 coin in the first place. But, alas, crooked people ensure the fast demise of this coin.
Keep one or two of yours, four posterity, sourvenir!
aznijar - i will definitely keep a few for myself
totoro - i'm getting good at this
Shhh... don't tell anyone, but I used to use the $1 coins for vending machines in Australia - the older ones recognized them as Australian $1 coins.
so bad me!
IB - cheeky you. well at least the aussie machines accept them, lol
they look and feel exactly the same. Cant tell the difference till you weigh them. The bank's coin machine will somehow automatically reject those. The pic u saw were all rejects. As for the link, u can link me too, thx.
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