Saving For A Rainy Day?

The U.K.’s Daily Mail reports that saving for a rainy day has a totally new meaning in Zhengzhou, as a man decided that he wanted to buy a new car and raided his piggy bank! The man from Liaoning was looking to purchase a new vehicle and apparently tried a few different dealerships before finding one who would accept RMB 680,000 in coins to purchase a 4WD vehicle.

The man arrived at the dealership with 1320 bundles of coins and it took ten staff over an hour just to unload the coins from the truck, never mind beginning the arduous task of actually counting the four tonnes of coins. Luckily for the man the dealership had the forethought to contact their bank in advance so as to check whether they would accept the huge quantity of coins, but allegedly told them that they must make an appointment first before depositing the funds.

Saving For A Rainy Day?

It is not unusual for customers to pay for items using large amounts of coins in China, as was reported recently with a man making a similar purchase for a car of RMB 400,000 in coins and small denomination notes. The customer arrived at the Toyota dealership in Zhengzhou, Henan Province, proffering the change in exchange for a Toyota Prado, with the largest note in his wallet being RMB 1. Staff there also had to spend 12 hours processing the payment, which the customer had earned through customers purchasing small quantities of flour from him. The customer said that he had been to banks as well as other dealerships who had all refused to take the small change before the Toyota dealership had agreed to his onerous payment method.

Banks and companies are at liberty to take whatever payments they feel like, but I think both the customer service aspect and positive media coverage a story like this generates as opposed to the small administration payment of banking so many coins is enough for most companies to take the financial hit. Kudos to the staff at both dealerships for persevering and counting the money so diligently – not many staff would be as willing or able to undertake the task!

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Author: Chris Na