BNM Rounding Mechanism

As you known, the rounding mechanism had started since 1st of April 08. However, i still have some question that needs to bring out for discussion here.

BNM New Mechanism

The rounding mechanism is to rounding up or down to the nearest 5 cent. Recently, I have paid my insurance premium about MYR 2576.64 but after rounded up I should pay MYR 2576.65. But if total bill is like MYR xx.61 then only pay MYR xx.60. May I know is it good news for a payer or not??

Why Need To Implement Such Kind of Rounding Mechanism ?

Based on my understanding, the system was implemented because the government intended to stop the production of the 1 cent coin since large amount of 1 cent coin unused in our circulation and the cost of producing 1 cent cost is more than 1 cent.

Don’t Be So Calculative In Certain Situation

If the marketer is smart enough, then every item he will put 0.98 to 0.99 cent, we are going to suffer with that unlesss you buy 3x 0.99 item, let it become 2.97, then you will save from that calculation.

On the other hand, I may feel that this will benefit to all marketer because the more user spend the more user can save! Hence, if can, try don’t buy unnecessary thing just because of want to save 1 cent or 2 cent.

How to Pay Less When Go For Filling Your Fuel ?

You can fill your fuel with MYR 50.01 or MYR 50.02. If using credit card, you will be charged the actual amount.

4 thoughts on “BNM Rounding Mechanism”

  1. we cant calculate it as we sometimes earn and sometimes the end will not have much diffrenet on that

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