As much as it is not so comfortable to walk around with chunks of close to valueless coins in one’s pockets, it is also painful to note that we are being robbed by banks and other commercial institutions of these small amounts.
Maybe I am wrong since I am not an economist and I may just not be having my facts straight but have you ever wondered what happens to the 1 Thebes and 2 Thebes that we all leave at the banks? Have you ever asked yourself why banks do not round their figures upwards if it is closer to the next 5 thebe? Maybe you should. They would run short if they round off to the nearest thebe, hence the plan to rob off customers of their money. I cannot take it anymore!
Note that these 1 Thebes are not there in monetary form or physical from, but they are there in figures. How many of you have wondered, like me, why a bank will not issue you P1355.60 if your cheque reads P1355.58? They will rather give you P1355.55. What happens to the 3 Thebe? Do you know? Do they return it to the originator since its change? No, they will not do that, but the cheque owner’s account will be debited with P1355.58. I think it stays with the bank as part of their profit, profit which they did not even work for.
Unless someone tells me something understandable, I believe that with these 1 thebes and 2 thebes banks confiscate from us, they do not even have to charge interests and other charges as they make enough money.I find it odd and surprising that institutions as big as banks can be allowed to continuously rob people and remain unchecked.
Why can’t the bank round up to the nearest figure even if it does not favour them, like we were taught at school; I mean even calculators and computers do that? Who has not heard of a bank teller who started deducting 1 thebe (or equivalent) from every customer’s account every morning and became an instant millionaire? Of course no one cares when 1 thebe has been deducted from their account. Is there a law that we are not aware of that says money cannot be rounded up. I am saying this because I see people being comfortably with donating their 1 thebes to banks every day. I suggest that banks should at least start rounding to the nearest 5 thebe or government should reintroduce the 1thebe coin. The way I see it, banks are making a kill with our 1 to 4 thebes. Something must be done about this issue before it’s too late if it is not already late.