As u all known, the rounding mechanism has started 1st of April 2008...but i have some question wan to ask regading this issue..

the rounding mechanism is to round upwards or downwards in order to the nearest multiple of 5 sen.
recently i have paid my insurance premium about rm2576.64 but after rounded up i should pay rm2576.65...may i know is it a good for end user or not?? it seems like eat our 1 cent...

but if total bill is like rmxx.61 then only pay rmxx.60....then what are the benefits between pay more and pay less?

BNM Rounding Mechanism

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Assuming the last digit of your (automatically calculated) bills has a 10% chance of being any digit 0-9, rounding should have no effect on your long-term average.

In cases where the last digit isn't evenly distributed, you may be better off or worse off, depending on how the distribution is skewed. All those 'special offers' that are one sen less than a whole number of ringgits, or tens of ringgits (like RM8.99 or RM499.99) will have to change to .95, so maybe consumers will be 4sen better off!

Have they introduced the rounding mechanism as a prelude to removing the <5 sen coins from circulation?

Hello,

the purpose of this rounding because they want to eliminate 1 cent. It is because the COST of manufacture the coins is higher than face value.

I use debit card to pay sometimes, but they do the rounding too
Debit card can pay excact amount huh

Thank you,

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The rounding only applies to the total bill amount, not individual items. So you can still sell eg RM8.99 or RM499.99 individual items without rounding them.

In that case, better make sure to buy your bargains in 3s (profit!), 4s (profit!), 5s (same!), 8s (profit!) or 9s (profit!) and avoid 1s (round up = loss!), 2s (loss!), 6s (loss!) and 7s (loss!).

I would imagine that anything under a RM10 note might be more costly to manufacture than its face value. Remember that its value to the Malaysian government is in the number of times it will be used. They get tax revenue nearly every time money changes hands.

no..actually we as consumer should avoid 3s,4s,8s,9s bcos we have to pay more..0.03s,0.04s we have to pay 0.05s...0.08s and 0.09s have to pay 0.10...

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Ideas For Financial Freedom

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Did I get it wrong? Buy 3 at 5.99, total 17.97, round to 17.95, 2 sen profit. Oh I see, my confusing typing. When I said 'buy bargains in 3s' I meant buy 3 things, each at RMsomething.99 - if you look at it that way, it's the inverse of the 'prices ending in' explanation.