not worth five cent

alba SG

so funny, i went to Yakun Kaya in Spore here in one of their branch, i am so shocked when i gave the woman 4x (five cent) that come to 40cent. but she refused to accept it, she only accept 2x (five cent) saying that they cannot accept more than 2x(five cent). is it so, but when i run down to mcdonald and gave the woman 4x (five cent) she accepted it. so does that mean that our spore five cent is not worth. some place just won’t accept five cent. it is so sad and stressful for me the moment, she said only 2 x (five cent) is accept.already money so hard to find, now thinking 5cent not worth i feel more most stress

Devil1976 SG

Next time just go to other stalls to change or ask passerby to change with you lor? Maybe just change 2 x 5 cents with each person / stall if they not too comfortable to accept 4 x 5 cents...

Btw, 4 x 5 cents = 20 cents.. Not 40 cents...

Just my 5 cents' worth... Mr. Green "

dork3d SG

Under MAS regulations, all currencies issued by BCCS are all legal tender and all companies must accept all forms of denominations in terms of payment. Anyone found not following the regulation, the companies must provide an explanation to the Board, otherwise penalty will be meted out.

alba SG

thanks alot, no i can change with other ppl, but i am just curious and stess and frust thinking that why is it not worth the 5cent. i thought it is still of use, why they won't accept more than 3 times of 5cent(10cent)....

just frustrated and sad, stress. how come money become like that, already tough earning money now money 5cent not too use,.thanks

mhcampboy SG

3times of 5 cents is 15cents not 10cents. heheh

Ito_^ SG

ok ill remember this, got chance i go try oso.

if cannot, i go complain for you. Very Happy

Aveme SG

yes actually they can refuse payment in 1 or 5 cents or even coins in any denomination.But the condition is that this rule must be shown in a written form at their sales counter clearly that they will only accept payment up to a certain amount of coins.

Reason being,when such biz deposit their coins into any banks in singapore,there is a service charge per 100 coins of 1 dollars.Imagine if they deposit 100 1 cents coins,it is like depositing nothing,and if they deposit 500 5 cents coins,result? they only get $4 deposited.

This is the reason why there is regulations made to allow biz to disallow coins transaction if they do not want to,but this must be made very clear to any potential customers first.

rathcycle SG

Learn your maths first for goodness sake…

Devil1976 SG

< Laughing >

laurence82 SG

I am lost reading the first post

Shocked

photo_seeker SG

MAS allow Business to have a maximum of coins accepted per payment, however it must be clearly stated and displayed at the counter. This is a minimum requirement.