Monday, January 27

50cents For Cheques From 1st April 2014

I received this message about banks encouraging paperless system via Interbank Giro Transfer. Hence, all cheques will be charged 50cents per piece I assumed for every transaction beginning from 1st April 2014. That, will be approximately roughly about 2 months from now. 

In the midst of Barang Naik and Bad News (short-formed as BN), even bank transactions are being charged! Yes, you may say, paperless is always better! But let me tell you, for banking matters (or other money related matters) a paper transaction is more secure. One week before 2014 arrives (roughly in December 2013) Maybank has changed its web interface, and the whole webpage crashed/lagged. I had trouble logging in to pay bills for a whole week. Then subsequently, the old interface came back.

See? My point is, how safe and reliable is all the Online banking stuff? My personal transactions max at 1k. But for companies, I think many will still opt for the cheque book facility because tens of thousands of transactions involved. 

Furthermore, in the business world, trust is not something that can come easy. For instance, COD via cheque is best. You will never know whether the other party will turn up after transferring the payments to them, right?

Just some of my hoping that price of living doesn't increase any further. 


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