Monday, November 28, 2011

Why do banks charge for depositing coins?

This has always bugged me that banks charge when you deposit coins into your savings account. I mean why? The banks readily accept money in note form no matter how much the amount so why not coins? Its still currency right? Then why??

Over here in Singapore, our banks charge us $0.0075 per coin. That means if you deposit 100 coins you'll be charged $0.75... Why? This goes to withdrawing coins as well, we're charged for that too but why?

When all coins and notes are minted and printed by the Singapore Mint, why the hell do the banks get to charge us for it?

I understand that in the United States of America, coins are legal tender at any denomination and is by law acceptable as payment for any amount of money owed, but here there is a currency act that limits the use of smaller denominations to pay up to a certain amount.

This also puts a strain and un-needed cost on businesses that operate mostly in coins
like vending machine operators or the neighbourhood mini-mart.

Again I ask, why? Why put a limit on the amounts that people can pay in and penalise those who just wanna deposit their hard saved/hard earned cash?


Finally broke my drought

Its been a long time since I found anything myself, mostly I think its because I've lost my peripheral vision or have just been distracted in my thoughts while I walk around and not scan the floor for stuff. So anyway found a dime at the cashier of the supermarket and she found a trolley with a dollar in it.

Started with $213.20

Ended with $214.30
$1.00 from her
$0.10 from him

Wish us Luck

Friday, November 18, 2011

Survey Stagnation

Not been in the mood lately to actually sit down and do all the surveys that came in.... mainly cause of work and how both my parents' health are in the toilet right now... Just praying that they get well soon.

Wish us Luck


She heard a coin drop and started looking around, the guy behind her (who she thinks dropped it) picked it up and gave it to her... Strange but hey who's saying anything :P

Started with $213.10

Ended with $213.20
$0.10 from her

Wish us Luck