Avoid Coinstar - Use HSBC!!

mateus · 11 September 2007 at 9:54PM

You know the Coinstar machines at the supermarket.
They take a commission (About 5%) for sorting your change out.
Great they are, but save yourself £'s if you have a HSBC high street branch.
Most of them, now have the machines that are the same, but are FREE, just either type your sort code and account number in, or swipe your card.

Load all your change, and it will be credited into your account. You get a little printout with the amounts of each coin and NO COMMISSION!!!!!

Thanks to Chiptivo on HDUK! :beer:

ramtec · 11 September 2007 at 9:58PM

do you know if you need to bank with them or will any bank account do?

wbaguesty · 11 September 2007 at 10:01PM

You need a bank account yes.

Forgetful · 11 September 2007 at 10:02PM

Yes I always want to say somthing when I see folks pouring their change into one of those machines...in ou ASda it 7.5 %..
so very expensive..
Or another option is to take it to ur local shop..
My boss has to pay 5% to get change out of the bank for her shop.....so u can be doing both parties a favour!!!

mateus · 11 September 2007 at 10:04PM

YES YOU NEED AN ACCOUNT - open one via Quidco etc for £10 too!!

Not 100% sure if it needs to be current account - probably not ?

luxor4t · 11 September 2007 at 10:24PM

I used a coinstar machine once but will never do so again!

The kids in school had raised / collected just over £30 in loose change to buy Christmas presents for a local children's charity. I had poured most of the box of coins into the machine before I realised what it would cost - 8%!!!!!
I made up the loss but it was an expensive lesson!

ShaunJUK · 11 September 2007 at 10:34PM

luxor4t wrote: »

I used a coinstar machine once but will never do so again!

The kids in school had raised / collected just over £30 in loose change to buy Christmas presents for a local children's charity. I had poured most of the box of coins into the machine before I realised what it would cost - 8%!!!!!
I made up the loss but it was an expensive lesson!

Expensive lesson?

It cost you £2.40

Yeh better in the charities hand than coinstar but hardly expensive

mx-3 · 11 September 2007 at 10:47PM

If you do not have a HSBC account..........................You can always put it in to mine.:D

blue_haddock · 11 September 2007 at 10:50PM

I recently used a coinstar machine - to be honest the 8% they take saved me a couple of hours of counting and sorting plus the extra time to make a trip to the bank to pay it is.

I think i had £38 in change and got about £35 back. now i don't know about you but 2 hours of my time is worth more than £3 so i don't have a problem paying for the convenience.

Joto_2 · 11 September 2007 at 10:52PM

ShaunJUK wrote: »

Expensive lesson?

It cost you £2.40

Yeh better in the charities hand than coinstar but hardly expensive

I have to disagree £2.40 may not seem a lot, but % wise it is.
£24 commission from £300 or £2.40 from £30. I know who's pocket I'd rather put it in.

ashcarrot · 11 September 2007 at 10:53PM

Or if you dont get loads of coin bags from your bank and save up your coins until you have enough to fill one (though the thought of not bothering to sort them is pretty good I may check it out)

Avoid Coinstar - Use HSBC!!

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