With the implementation of Bank Negara Malaysia’s (BNM) Rounding Mechanism effective 1 April 2008, the total amount of a bill which ends in 1, 2, 6 and 7sen will be rounded down while the total bill which ends in 3, 4, 8 and 9sen will be rounded up to the nearest multiple of 5sen. Foe example RM70.01 and RM70.02 would be rounded down to RM70.00 whereas RM70.03 and RM70.04 would be rounded up to RM70.05. What surprised me was that I had received an unexpected letter last afternoon. I had received many types of bill before and this was the first time I saw this type of envelope.
I opened up the envelope curiously to find out there was a cheque for 2sen issued by Standard Chartered Bank on behalf of Maxis Mobile Services Sdn. Bhd. This is crazy! Having endless of problems with no solutions when I was subscribing to Maxis Wireless Broadband services for more than a year was already a dilemma, and now they have decided to pay me 2sen just because I had paid more? What has happened to the BNM’s Rounding Mechanism? I know this is the act of being professional and fair but this is just plain absurd!
I do not think I would be crazy enough to bank in that cheque attached as I would be the laughing stock of the bank tellers. Just study the envelope and the payment advice above. Postage is 30sen, window envelope is around RM1, two colored letterhead would be around 80sen, laser printing would be another 20sen or so. What about the processing charges by the bank (RM1) and the time of the staff to generate this report? Let just put it as a total of RM3.30 just to process a payment cheque of 2sen. I do not think I am the only one receiving this as there could be hundreds or maybe thousands from the millions of Maxis subscribers all over Malaysia receiving this as well. Can you imagine that each 100 persons receiving this and RM330 would be wasted for unnecessary payments? Each one thousand would lead to RM3300 of wastages.
I think the company will need to look into their accounting system seriously and abide to BNM’s rounding mechanism. This is an unnecessary wastage of the company’s funds although it might be a small figure to the company. I rather have them spending the amount in R&D to find ways to improve their services better. I might be a discontented user earlier but it does not mean that I would not want to see the company improve itself better for the benefit of other users.
I think the company will need to look into their accounting system seriously and abide to BNM’s rounding mechanism. This is an unnecessary wastage of the company’s funds although it might be a small figure to the company. I rather have them spending the amount in R&D to find ways to improve their services better. I might be a discontented user earlier but it does not mean that I would not want to see the company improve itself better for the benefit of other users.
3 comments:
Their postage cost more than the origin reason of sending out that letter/cheque...zzzz
Isn't that totally ridiculous, Criz? The same thing happened to me a few years ago. The tax office sent me a cheque for $2.40. It would have cost them double to print the thing. Crazy sort of accounting...false economy...but that's bureaucracy for you.
You should be given an award telling the company how crazy this is.
The solution is so simple: Credit all amounts less than a certain amount on next invoice.
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