Digital payments thrive in Malaysia. From roadside hawker stalls to high-end malls, transactions can be made electronically – by tapping a card or scanning a QR code.
Yet, many public schools in the country do not enjoy the luxury of e-payments. They still rely on good old-fashioned cash – and coins. That, in turn, has sparked an interesting dilemma, one often discussed over meals.
Parents give their children cash for school. After buying meals at the canteen, the children usually return with coins to spare. To encourage saving, parents often tell their children to put the coins into a piggy bank.
Once the container is full, the next step is to deposit the money into the child’s savings account. Simple enough – or so it seems. What should be a straightforward act often turns into a surprisingly tedious experience.
First, one must call the bank to check if the coin deposit machine is functioning. If it is, the bank may ask you to come “between 10am and noon” – for reasons best known to them. Unfortunately, this is usually during school hours, meaning the child misses the opportunity to see their savings counted and deposited.
Then comes the wait. And when it is finally your turn, you had better:
i. pray the machine does not break down halfway; and
ii. hope you have fewer than 1,000 coins – because there is an RM10 charge for every 1,000 coins deposited.
Some machines are faulty for weeks on end. A friend, over lunch earlier this week, shared how she had to visit several banks just to find one with a machine – only to discover that it had been out of order for months.
Hawkers face a similar issue. With coins piling up from daily transactions, many prefer to deposit the excess and earn whatever little interest the bank offers. Leaving the coins lying around is hardly ideal.
Banks, of course, may argue that handling coins is a hassle. It requires manpower. Staff must deal with noisy machines – louder than a novice violinist – and the metallic smell is far from pleasant. Fewer people showing up with coin-filled containers – whether it’s a cloth bag, Peppa Pig tin, or an old whisky canister – is better for them.
Some may say, “Just use digital payments lah.” Sure – if schools and canteen operators have the proper infrastructure. That would mean allowing children to bring payment cards or electronic devices to school. But for this to work, it must be implemented nationwide – from Kuala Lumpur to Kapit.
And school administrators have more pressing concerns – such as fixing toilets and ensuring good internet connectivity.
But this is not just about payment methods or the inconvenience of coins. It is about instilling the habit of saving. Watching coins pile up and eventually reach RM100 brings a sense of pride and accomplishment. It reinforces the value behind sedikit-sedikit lama-lama menjadi bukit.
That habit, if nurtured early, can follow children into adulthood, helping them understand and appreciate the importance of saving.
While digital transactions may have made wallets obsolete for some, let us not forget those who still carry coins in their pockets – or piggy banks. That is their hard-earned money, too.
Let us encourage children to save. And let us start by making sure the coin deposit machines in banks actually work.
