Thursday, November 8, 2007

The Cheque Out

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The Method Explained

Step 1 - It's original state as before bank had announce the increment of 50cent per cheque withdrawal.

Step 2 - After bank had announced, if they had pass on bank charges to bloggers.

Step 3 - After they increase by a 100% of the bank charges to bloggers fee.

Step 4 - After they realised they make a 50cent per cheque, they further reduce the withdrawal amount so as to encourage bloggers to withdrawal more often because now they are profiteering from each cheque issue so they want bloggers to withdrawal often.

This is no longer good will. There is only this grand excitement to see how they can push for more withdrawal from bloggers. The angst that tips the scale or the arbitraging that so form the basis of their operation. How far will they go to take advantage of bloggers? Their amendment of TOS should be the total disregard of principles of integrity? There is no more good will community pretension; it may soon be an outright disregard.

*There is a mistake in the chart,  fees at step 4 should be $2.
The above chart is a representation of the progress of amendment with withdrawing cheque/cheques per $100. 
The effort is to make a consistent study. I welcome comments and feedbacks.

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DK said...

Someone posted a comment in cobalt paladin's blog to ask people to debunk this. So here I am.


Everytime you cashout, they incur labour and material cost. The more you cashout, the more cost they incur. So its normal that they charge you more for cashing out more. The idea is to deter you from cashing out too frequently.

They give you the option to cashout frequently, but the choice is yours. You can still cashout at $100.


H said...

The most intelligent and capable owners of nuffnang cannot in their cloak of giving choice go with two critically important qualities: arbitraging and disregard for bloggers.

In their search for accumulation, they must in their most conscionable way in the treatment of bloggers in 2 ways: Being genuine and be composed of it.

In the sum of it all, they will then be the seen as a genuine community servant as they proclaimed.

This may sound like a mouthful but it is the essence with which bloggers would want to be led and mere guided by scammers, which will then not be a community dot com and does not require fulfilling the above qualities.

How Nuffnang deals with people who wish to withdraw their profit is the manner with which the bloggers will judge whether it is of the community.

Nuffnang may doubt itself of intent to arbitrage on the circumstances: that is fine. However to increase 100% of the charges based on the profiteering invention is not fine. Nuffnang may use their passion of profiteering to guide their control of TOS. Then Nuffnang must ask the simplest question are they reasonably expected to cause a stir in the blogging community, given their amendment were suspected of integrity by community. If the answer is yes then Nuffnang has not behave in the matter reasonably expected to provide, of and for the community of bloggers.

Samg said...

DK> granted, everytime you cash out they incur some cost but the cost is minimum, i mean how much for paper ink and things like that? they are part of your overheads and should already being calculated into their business right from the start, how can they not expect to have more than a few hundred customers in the future and then redesign their business framework?

they know customers will want to cash out ASAP but they take advantage of customer in that sense which i think is morally not right.

just my 2 cents.

Anonymous said...

But the choice is still yours, if you are not happy you can choose to cash out at $100. So whats the difference?

Anonymous said...

how in the world NN comes into business is really beyond common sense. They have no intention to give an official reply but just going around those blogs that support them to reply.

What a stupid move.

H said...

You hit the nail on the head there, for the first time in this blog.

The question > How the hell did they even get into the business community? Based on what? Just because they are rich? Someone who has never worked a single day telling me they want to succeed? And not just succeed but as big as Google? Just because they started their office from some cottage? And to think starting from cottage equates to similar level of success? How humble? How realistic? How accurate is that assumption?

Do they have the ability? Are they as smart as those few? Do they have answer to everything? Do they have support? Do they know how to get out of trouble? Do they know even understand the value of customer?

I will leave the answers to those questions for you to find out from this blog.


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