Sunday September 11, 2005
Give traders time to change coins after deadline
Bank Negara says the RM1 coin is still legal tender and traders must accept them until Dec 6.
I am a trader. What am I to do with the RM1 coins I receive on Dec 6? The banks will no longer accept them on Dec 7.
If the bank is to charge a fee for changing the RM1 coins from Dec 7, why should I be the one to pay? And what is the charge rate like?
If I do not accept the coins before the deadline, my customer can report me and I will be in trouble also. Either way, traders are the losers.
Can Bank Negara allow traders not to accept the coins after Nov 30 and ensure that banks accept them until Dec 7? This will give traders one week to change all the RM1 coins they receive.
Concerned Trader
Kuala Lumpur
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