Main site > MoneySavingExpert.com Forums > Shopping & Freebies > I wanna buy-it or do-it > Loose change - best place to cash in? (Page 1)

IMPORTANT! This is MoneySavingExpert's open forum - anyone can post

Please exercise caution & report any spam, illegal, offensive, racist, libellous post to forumteam@moneysavingexpert.com

  • Be nice to all MoneySavers
  • All the best tips go in the MoneySavingExpert weekly email

    Plus all the new guides, deals & loopholes

  • No spam/referral links
or Login with Facebook
Loose change - best place to cash in?
Closed Thread
Views: 22,235
Thread Tools Search this Thread Display Modes
# 1
WOW Factor 0
faraday
Old 14-12-2008, 10:46 AM
MoneySaving Convert
 
Join Date: Dec 2008
Posts: 24
Default Loose change - best place to cash in?

Hi,

Not sure where this goes, but I reckon it's 'old style' saving.

Over the last year I've been filling a Whisky tube with my loose change, anything less than 20p goes in. I reckon there's a good 40 quid in there which will pay for some festive Whisky (will get a couple of decent bottles with the Christmas discounts in the supermarkets!).

So, I was thinking about taking it to one of the Coinstar machines, but they take commission and another percentage for charity.

Would I get funny looks if I took it to the Bank? Will they give me money bags to count out the change?

Or do I go in to Tescos and use the self service counter and put the loose change in coin by coin ?
faraday is offline
Report Post
# 2
frugallass
Old 14-12-2008, 10:50 AM
Fantastically Fervent MoneySaving Super Fan
 
Join Date: Dec 2006
Location: Nr Glasgow
Posts: 2,208
Default

some banks only allow a certain amount of bags and some banks need proof that you are one of their customers if you aren't depositing the money

I always take mine to coinstar, I really don't mind paying the commission
frugallass is offline
Report Post
# 3
misskool
Old 14-12-2008, 10:51 AM
Deliciously Dedicated Diehard MoneySaving Devotee
 
Join Date: Mar 2005
Posts: 12,451
Default

Banks will give you loose change bags. Bag them up and bank it in. The cashier will weigh the bags when you hand them in and credit your bank account.

If spending it at a supermarket, there's a limit to how much a certain type of change is legal tender. I think it's £2 for 1p and 2p's. not sure of the others.

I detest the coinstar machines that people use as they take so much of your money away.
misskool is offline
Report Post
# 4
DianneB
Old 14-12-2008, 10:53 AM
MoneySaving Stalwart
 
Join Date: Sep 2005
Location: Norfolk
Posts: 740
Default

Hi, well done!! first of all go to the bank and ask for a whole heap of copper and silver bags, come home count it all out then take it back, the cashier will then weigh the bags and give you the dosh!! Whatever you do don't take the cash loose you will be blacklisted forever! Then sit back and enjoy the Whiskey.
Loading........................
DianneB is offline
Report Post
# 5
Triker
Old 14-12-2008, 10:53 AM
Fantastically Fervent MoneySaving Super Fan
 
Join Date: May 2006
Posts: 7,048
Default

HSBC have their own coinstar type change machines which are free for account holders to use.

My DD has an account with them so I use her card in the slot, plonk all the change in and it counts it it up puts it into her account which I then get the money from.
DFW Nerd 267. DEBT FREE 11.06.08
Stick to It by R.B. Stanfield
It matters not if you try and fail,
And fail, and try again; But it matters much if you try and fail, And fail to try again.
Triker is offline
Report Post
The Following 2 Users Say Thank You to Triker For This Useful Post: Show me >>
# 6
Penelope Penguin
Old 14-12-2008, 10:57 AM
Deliciously Dedicated Diehard MoneySaving Devotee
 
Join Date: Mar 2006
Location: East Yorkshire
Posts: 16,977
Default

There's a similar thread here I'll move this thread to that board and it may get merged.
Life is too short to clean behind the fridge
Penelope Penguin is offline
Report Post
# 7
ali-t
Old 14-12-2008, 7:58 PM
Fantastically Fervent MoneySaving Super Fan
 
Join Date: Dec 2006
Posts: 3,089
Default

Quote:
Originally Posted by faraday View Post
Hi,


Would I get funny looks if I took it to the Bank? Will they give me money bags to count out the change?
many banks refuse to take bags of change. I am with the A&L and they only take 5 bags in any day from each person. Check before you go down as the refusal from the did offend me I then took the bags to the post office and they paid them into my A&L account which was bizarre but did the job.
If you always do what you have always done, you will always get what you always got

If my posts are a bit ropey with dodgy spelling and grammar, it's because I'm on a tablet or mobile and can't type properly on it.
ali-t is offline
Report Post
# 8
juno
Old 14-12-2008, 8:06 PM
Fantastically Fervent MoneySaving Super Fan
 
Join Date: Aug 2004
Location: Nottingham
Posts: 6,296
Default

I took mine to HSBC and they were really nice! I only took a few bags at a time, and tried to go when it wasn't busy. One of my bags was a bit short, but I just gave them whatever I had to top it up and they accepted that.
Sealed pot challenge #377
Target £125 - 2009 total £117.57
2010 total £151.95


Murphy's No More Pies Club #209
juno is offline
Report Post
# 9
downhillfast
Old 20-12-2008, 3:20 AM
MoneySaving Stalwart
 
Join Date: Dec 2006
Posts: 651
Default

As an ex-publican I can wholly recommend offerring your correctly bagged change to your local pub - especially at this time of year as there's nothing worse than running out of change! I don't mean using it to buy a round... offer it to the landlord so it doesn't get plonked into the till and have to be re-counted!
downhillfast is offline
Report Post
# 10
little_miss_moneysaver
Old 21-12-2008, 9:56 AM
Serious MoneySaving Fan
 
Join Date: Oct 2008
Location: Hemel Hempstead
Posts: 1,228
Default

I think i'm right in saying that the Halifax only takes 3 bags of coins per person per day. Last time I tried to paymore bags into a second Halifax account but they wouldn't let me and told me to come back another day!! Not sure if this is still their policy. But HSBC took all the bags of change in one go
Baby boy arrived 22nd August 2012
Second menace arrived safely 13th February 2014
Goal for 2014: Saving £s, loosing lbs
little_miss_moneysaver is offline
Report Post
# 11
kittiej
Old 21-12-2008, 2:30 PM
Fantastically Fervent MoneySaving Super Fan
 
Join Date: Apr 2007
Location: In a rocket exploring space
Posts: 2,500
Default

My local post office says they'll take as many bags as I want as long as there aren't long queues.

It's a sub post office, I wouldn't ask the sour pusses in the main PO tho
Sealed pot challenge member number 18
Karma - the consequences of ones acts.
"It's OK to falter otherwise how will you know what success feels like?"
1 debt v 100 days £2000
kittiej is offline
Report Post
# 12
wannabe sybil
Old 21-12-2008, 3:06 PM
Fantastically Fervent MoneySaving Super Fan
 
Join Date: Apr 2008
Posts: 2,394
Default

My local chemist and newsagent both appreciate bags of change, if you don't go in when it is too busy. They have to pay the bank to get change, you see, so it saves them.

Edited as I just remembered - my bank will not accept more than five bags of loose change at one time.

Also, if there is a bill that is particularly irritating you, pay it in pennies! And count them out before the person slowly. And lose count and start again. Of course, that depends if it is something like a paper bill or a parking fine.
Ankh Morpork Sunshine Sanctuary for Sick Dragons - don't let my flame go out!


wannabe sybil is offline
Report Post
# 13
SomeBozo
Old 21-12-2008, 6:20 PM
Serious MoneySaving Fan
 
Join Date: Feb 2006
Posts: 1,162
Default

Or if you are patient, use the loose change to pay on the "self service" payout aisles in supermarkets.

Bozo
SomeBozo is offline
Report Post
# 14
Forgetful
Old 21-12-2008, 9:14 PM
Serious MoneySaving Fan
 
Join Date: May 2007
Posts: 1,526
Default

yes never take to one of those coinstar machines.. a rip off at 7.5 % if i remember correctly
banks are a bit picky too.
so I suggest take to local shop,i work in a chipy and we always need the change... cos boss has to pay bank to get money changed.
Forgetful is offline
Report Post
# 15
too_much_debt
Old 21-12-2008, 9:55 PM
Fantastically Fervent MoneySaving Super Fan
 
Join Date: Mar 2008
Location: Somewhere nice
Posts: 3,086
Default

I bank with Lloyds and they always let me change it up and pay it in my account then I just withdraw the cash or do a payment through Internet banking to a credit card bill. I think I took about 7 bags in the last time and I asked for more bags and they gave me a handful.

I also change them in my local Post Office as long as it isn't too many bags they don't mind.
Sealed Pot Challenge 2010/11/12 - #282
Long Haul Supporter #147
too_much_debt is offline
Report Post
# 16
novagirl
Old 21-12-2008, 10:00 PM
Serious MoneySaving Fan
 
Join Date: Jul 2007
Posts: 1,543
Default

Don't mix up the different types of coins in each bag when you take them to a bank. That's what annoys cashiers the most
novagirl is offline
Report Post
# 17
exel1966
Old 21-12-2008, 10:41 PM
Fantastically Fervent MoneySaving Super Fan
 
Join Date: May 2005
Posts: 4,819
Default

Collect the bags from the bank, ask what is the quietest time of day to come in and exchange/deposit them, check any bag limitations (many smaller branches or ShAbbey/A+L won't accept more then 5 at one time) go home bag the coins up, return to bank and hey presto, pour the whiskey !
exel1966 is offline
Report Post
# 18
Mathew
Old 21-12-2008, 10:48 PM
MoneySaving Stalwart
 
Join Date: Aug 2008
Posts: 534
Default

I always choose to use coinstar machines, its simple and can be done when I shop rather than the time and effort of counting it all out!

I find that the charge is reasonable and well worth it to save the hassle of counting it out, placing it in bags etc.
Mathew is offline
Report Post
# 19
indierocker85
Old 22-12-2008, 3:24 AM
Serious MoneySaving Fan
 
Join Date: Oct 2007
Posts: 1,916
Default

Quote:
Originally Posted by Mathew View Post
I always choose to use coinstar machines, its simple and can be done when I shop rather than the time and effort of counting it all out!

I find that the charge is reasonable and well worth it to save the hassle of counting it out, placing it in bags etc.
cointar are a rip off

They charge 7.5p of every pound, dont seem a lot but its 75p for every £10
Or £7.50 for £100 changed. Easier to bag it up and bank it, or,go into a bank and ask them to change it, normally theyll change it, if they ask if you bnk with them just say yes
Live for what tomorrow has to bring, not what yesterday has taken away
indierocker85 is offline
Report Post
# 20
Coveredinbees!!!!
Old 22-12-2008, 7:07 AM
Fantastically Fervent MoneySaving Super Fan
 
Join Date: Apr 2006
Location: The Hive
Posts: 2,953
Default

I off load my change into the petty cash tin at work, they always want change.

Coveredinbees!!!! is offline
Report Post
Closed Thread

Bookmarks
 
 




Thread Tools Search this Thread
Search this Thread:

Advanced Search
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off

 Forum Jump  

Contact Us - MoneySavingExpert.com - Archive - Privacy Statement - Top

Powered by vBulletin® Copyright ©2000 - 2014, Jelsoft Enterprises Ltd.

All times are GMT. The time now is 1:20 AM.

 Forum Jump  

Free MoneySaving Email

Top deals: Week of 29 October 2014

Get all this & more in MoneySavingExpert's weekly email full of guides, vouchers and Deals

GET THIS FREE WEEKLY EMAIL Full of deals, guides & it's spam free

Latest News & Blogs

Martin's Twitter Feed

profile

Cheap Travel Money

Find the best online rate for holiday cash with MSE's TravelMoneyMax.

Find the best online rate for your holiday cash with MoneySavingExpert's TravelMoneyMax.

TuneChecker Top Albums

  • VARIOUS ARTISTSBBC RADIO 1'S LIVE LOUNGE 2014
  • TAYLOR SWIFT1989 (DELUXE)
  • ED SHEERANX (DELUXE EDITION)

MSE's Twitter Feed

profile
Always remember anyone can post on the MSE forums, so it can be very different from our opinion.
We use Skimlinks and other affiliated links in some of our boards, for some of our users.