Wuhan couple receive 50000 coins weighing 300 kg,only to find all banks reject them because counting them 'troublesome'

Updated:Sat, Nov 9, 2013 06:18 AM   By Bernd Chang

50000 coins,Bank rejects coin

The rejected 50,000 one-yuan coins have a total weight of 300 kilograms.

A couple in Wuhan, Hubei province received 50000 one-yuan coins weighing 300 kg as project payment, only to find all banks reject them.
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A Wuhan couple received a payment of 50,000 yuan that consists of 50,000 one-yuan coins. But when they tried to deposit the money in his bank account, all banks rejected their request, Xinhua reported Saturday.

And the reason was that counting the money was too troublesome.

The helpless couple had no choice but to transport all the coins back to their home. They used their private car to transport the coins to their residential complex and then used a baby stroller to carry them to their home on the 19th floor.

They then packed the 50,000 one-yuan coins into 50 bunches. With each bunch consisting of 1000 coins and weighing about 6 kilograms, the 50 bunches have a total weight of 300 kilograms.

After their uncomfortable experience with the banks received major media coverage, finally a bank in Wuhan agreed to enter the money into their account.

According to Chinese law, RMB is the statutory currency of China and all banks, companies and individuals are forbidden to reject it, which means the Wuhan banks have broken the law.

How can banks discriminate against small bills as RMB is the legal currency in China regardless of their values, Xinhua questioned.

 

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