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Avoid RTGS fee & piss off bank

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VituVingiSana		#1 Posted : Thursday, October 01, 2009 6:29:00 AM
Rank: Chief Joined: 1/3/2007 Posts: 18,351 Location: Nairobi		One day when I have 1mn,I am going to write a chq for 999,999.95 Greedy when others are fearful,Very fearful when others are greedy - to paraphrase WB Greedy when others are fearful. Very fearful when others are greedy - *to paraphrase Warren Buffett*
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Fundaah		#2 Posted : Thursday, October 01, 2009 7:00:00 AM
Rank: Elder Joined: 11/19/2008 Posts: 1,267		That's genious..... Rules of the game here: Before you post anything think.give facts only..It's a serious blog for serious people....Do not insult your brother....respect one another...Just be good.... It's good to live a honest life....life without guilt.... Jeremiah 17:11 As a partridge that hatches eggs which it has not laid,So is he who makes a fortune,but unjustly; In the midst of his days it will forsake him,And in the end he will be a fool.' From the SK Anti-hate/anti- corruption campaigner.. Isaiah 65:17-Look! I am creating new heavens and a new earth, and no one will even think about the old ones anymore
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Chaka		#3 Posted : Thursday, October 01, 2009 7:02:00 AM
Rank: Elder Joined: 2/16/2007 Posts: 2,114		And then the following day you write one for .05
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KulaRaha		#4 Posted : Thursday, October 01, 2009 7:20:00 AM
Rank: Elder Joined: 7/26/2007 Posts: 6,514		CBK has put in monitoring software to avoid cheque splitting. Business opportunities are like buses,there's always another one coming Business opportunities are like buses,there's always another one coming
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VituVingiSana		#5 Posted : Thursday, October 01, 2009 7:31:00 AM
Rank: Chief Joined: 1/3/2007 Posts: 18,351 Location: Nairobi		@kularaha - As long as the chqs are written on 2 different days - from the explanation I was given.... * You cannot write more than 2 chqs exceeding 1mn to the same person/entity on the same day (not sure if it means business day). So if i were a business who has to pay 1mn to a single supplier,I would write chqs on different days but each less than 1mn... Saves me 1,500 (less ledger/chq fees) per RTGS Greedy when others are fearful,Very fearful when others are greedy - to paraphrase WB Greedy when others are fearful. Very fearful when others are greedy - *to paraphrase Warren Buffett*
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VituVingiSana		#6 Posted : Thursday, October 01, 2009 7:33:00 AM
Rank: Chief Joined: 1/3/2007 Posts: 18,351 Location: Nairobi		My bank calculates even pennies. Probably the software. So is a chq for 999,999.99 valid? Greedy when others are fearful,Very fearful when others are greedy - to paraphrase WB Greedy when others are fearful. Very fearful when others are greedy - *to paraphrase Warren Buffett*
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bird_man		#7 Posted : Thursday, October 01, 2009 7:36:00 AM
Rank: Veteran Joined: 11/2/2006 Posts: 1,206 Location: Nairobi		Interesting.....but surely....all that effort to save Ksh 1,500??And you are a company?With 1 Million to pay? Its too much effort and it might make you look 'cheap'.Not good. 'When I sell liquor,it's called bootlegging; when my patrons serve it on Lake Shore Drive,it's called hospitality' Formally employed people often live their employers' dream & forget about their own.
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mukiha		#8 Posted : Thursday, October 01, 2009 7:36:00 AM
Rank: Elder Joined: 6/27/2008 Posts: 4,114		Now this reminds me of my days in the UK [the real UK!!! but do I say?] in the mid 1980s. We used to get cheque guarantee cards from the bank with limits of 50pounds. Then when making higher payments,we'd write several cheques with different dates...usually one day apart. Now that gives an idea of how old I am.....was writing cheques in the UK in mid 80s!!!! Behind the gardens...Behind the wall...Under the tree (Including: Red...Dark Blue...Yellow) Nothing is real unless it can be named; nothing has value unless it can be sold; money is worthless unless you spend it.
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VituVingiSana		#9 Posted : Thursday, October 01, 2009 12:54:00 PM
Rank: Chief Joined: 1/3/2007 Posts: 18,351 Location: Nairobi		@birdman... Of course... saving money is IMPORTANT... 1,500 for 1mn = 0.15% (plus costs of sending a messenger to & fro the bank). This is NOT a trading activity but a pure expense. * Ati,making me look cheap... Kwani the bank charges me lower interest or pays me more interest so it does not look cheap... LOL... birdman... have you heard of Warren Buffet? Greedy when others are fearful,Very fearful when others are greedy - to paraphrase WB Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett**
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bird_man		#10 Posted : Thursday, October 01, 2009 3:34:00 PM
Rank: Veteran Joined: 11/2/2006 Posts: 1,206 Location: Nairobi		VVS,wont you spend even more writing two cheques plus having to send the messenger two times?Plus the time he will waste going there twice to deposit the cheques instead of running other errands?It might work.......it might save costs,maybe,I don't know! Try it out and tell me whether its better. 'When I sell liquor,it's called bootlegging; when my patrons serve it on Lake Shore Drive,it's called hospitality' Formally employed people often live their employers' dream & forget about their own.
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Wazua » Market » Pennywise » Avoid RTGS fee & piss off bank

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