Tuesday, March 11, 2008

GEICO taking its cues from the federal government...

Today we received a rather interesting item in the mail. It was a check from GEICO in the amount of .40 cents for a "refund due to a recent adjustment to your policy."

After I thought "oh goody, a refund!!" (LOL--yes I was being facetious) I took a closer look at the postmark, something told me that I just had to do that. Sure enough my suspicions were right--it cost Geico 31.2 cents to mail it the .40 cent check.

It cost GEICO 8.8 cents just to mail me that check (not to mention the cost of processing, paper, etc).

It would cost me .39 cents to mail it to my credit union which is located in Jacksonville.

I shredded it. I mean really now, don't insult me for a lousy one-cent refund.

I think I'll be jotting an email to the President of GEICO and ask him why they couldn't simply take the .40 cents and apply it to our next six-month premium which is due April 19th. Surely the cost of applying that credit would have been far less, ya think?

3 comments:

  1. I haven't received anything from them, but if I do, you know it will be going to the bank with me, along with my survey checks... hey, every few cents adds up. Maybe you should consider changing over to our local bank in Bell?

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  2. Oh yeah, sounds like pathetic stupidity to me. You would think that A/P would pick that up, since the whole process probably cost them at least $5.00.

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  3. it looks good when an evil corporation spends money to give back to "the little guy". the fact is that if they were to simply apply it as a credit, in terms of paperwork and manpower, it more than likely would have been more expensive.

    however, you should't have shredded the check - you are adding to the cost of their refund to you. now someone has to be making constant adjustments on the bank rec until the 6 month period expires and you haven't cashed the check. better to have saved it and mailed it along with something else...

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