Your browser isn't supported
It looks like you're using an old web browser. To get the most out of the site and to ensure guides display correctly, we suggest upgrading your browser now. Download the latest:

Welcome to the MSE Forums

We're home to a fantastic community of MoneySavers but anyone can post. Please exercise caution & report spam, illegal, offensive or libellous posts/messages: click "report" or email forumteam@.

Search
  • FIRST POST
    • mateus
    • By mateus 11th Sep 07, 9:54 PM
    • 146Posts
    • 98Thanks
    mateus
    Avoid Coinstar - Use HSBC!!
    • #1
    • 11th Sep 07, 9:54 PM
    Avoid Coinstar - Use HSBC!! 11th Sep 07 at 9:54 PM
    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!
Page 1
  • ramtec
    • #2
    • 11th Sep 07, 9:58 PM
    • #2
    • 11th Sep 07, 9:58 PM
    do you know if you need to bank with them or will any bank account do?
  • wbaguesty
    • #3
    • 11th Sep 07, 10:01 PM
    • #3
    • 11th Sep 07, 10:01 PM
    You need a bank account yes.
    • Forgetful
    • By Forgetful 11th Sep 07, 10:02 PM
    • 1,543 Posts
    • 8,778 Thanks
    Forgetful
    • #4
    • 11th Sep 07, 10:02 PM
    • #4
    • 11th Sep 07, 10:02 PM
    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
    • By mateus 11th Sep 07, 10:04 PM
    • 146 Posts
    • 98 Thanks
    mateus
    • #5
    • 11th Sep 07, 10:04 PM
    • #5
    • 11th Sep 07, 10:04 PM
    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
    • By luxor4t 11th Sep 07, 10:24 PM
    • 9,208 Posts
    • 32,031 Thanks
    luxor4t
    • #6
    • 11th Sep 07, 10:24 PM
    • #6
    • 11th Sep 07, 10:24 PM
    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
    • By ShaunJUK 11th Sep 07, 10:34 PM
    • 713 Posts
    • 533 Thanks
    ShaunJUK
    • #7
    • 11th Sep 07, 10:34 PM
    • #7
    • 11th Sep 07, 10:34 PM
    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!
    Originally posted by luxor4t
    Expensive lesson?

    It cost you £2.40

    Yeh better in the charities hand than coinstar but hardly expensive
  • mx-3
    • #8
    • 11th Sep 07, 10:47 PM
    • #8
    • 11th Sep 07, 10:47 PM
    If you do not have a HSBC account..........................You can always put it in to mine.
    • blue_haddock
    • By blue_haddock 11th Sep 07, 10:50 PM
    • 11,761 Posts
    • 18,423 Thanks
    blue_haddock
    • #9
    • 11th Sep 07, 10:50 PM
    • #9
    • 11th Sep 07, 10:50 PM
    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
    Expensive lesson?

    It cost you £2.40

    Yeh better in the charities hand than coinstar but hardly expensive
    Originally posted by ShaunJUK
    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.
    Look after the pennies and the £££s will look after themselves
    • ashcarrot
    • By ashcarrot 11th Sep 07, 10:53 PM
    • 626 Posts
    • 151 Thanks
    ashcarrot
    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)
    Money, Money, Money ..... Banks/Casinos/Bookies give me all you money its a poor mans world....
  • bluey9
    Or another option is to take it to ur local shop..

    You better have a pretty thick skin if you're gonna do that. Those machines are a godsend to people who get homicidal urges when stuck behind some modern day Ebeneezer Scrooge counting out millions of pennies and holding up the whole shop/ bank.
    • dougs
    • By dougs 12th Sep 07, 9:24 AM
    • 570 Posts
    • 708 Thanks
    dougs
    I don't think this is a Grabbit, unless HSBC are about to be sold out
    • Raspberry Swirl
    • By Raspberry Swirl 12th Sep 07, 12:27 PM
    • 1,362 Posts
    • 1,438 Thanks
    Raspberry Swirl
    I'm quite happy to pay the % that coinstar charge as my bank won't accept my change and the queue in my local post office is always out the door it's so long. so the time it would take me to bag the change correctly, get to my post office and queue is nothing compared to the coinstar charge as it's at my local supermarket so no special journey made.
  • Hapless
    I must agree with Raspberry Swirl, the coinstar are a bonus. Although I have an HSBC account they don't have a change machine inside and they will only take 5 bags of coins max at a time even if I am paying it in to my account.. Rather annoying really.
    The "Bloodlust" Clique - Morally equal to all. Member 10
    grocery challenge...Budget £420

    Wk 1 £27.10
    Wk 2 £78.06
    Wk 3 £163.06
    Wk 4
    • grn.w.nv
    • By grn.w.nv 13th Sep 07, 11:53 AM
    • 351 Posts
    • 897 Thanks
    grn.w.nv
    I've used the Coinstar machine a few times, not got any complaints about their commission, although that's just on small amounts (£20 and under). However I've started to collect £2 coins, and was wondering what to with the when I filled the coffee jar. Not sure of the procedure to be honest, but do I just bag them up and take them to my bank (Lloyds TSB)?
    • far
    • By far 13th Sep 07, 3:11 PM
    • 322 Posts
    • 110 Thanks
    far
    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 ?
    Originally posted by mateus
    Correct - any account with HSBC will do. Just make sure you don't do what I do and put the coins under the plastic tray rather than on it!
    • MarkLS12
    • By MarkLS12 20th Sep 07, 6:23 PM
    • 244 Posts
    • 141 Thanks
    MarkLS12
    Does anyone know how I can find out which HSBC branches have these machines? Would they be with the "print a statement" type machines or behind the counter?
    • custardy
    • By custardy 20th Sep 07, 6:30 PM
    • 30,903 Posts
    • 25,398 Thanks
    custardy
    since you punch in the details i would say not behind the counter
    • Grade_A_Reject
    • By Grade_A_Reject 24th Sep 07, 6:07 PM
    • 758 Posts
    • 552 Thanks
    Grade_A_Reject
    Anyone know if these work with First Direct accounts as they're part of the HSBC group?
    "A nation of plenty so concerned with gain" - Isley Brothers - Harvest for the World
Welcome to our new Forum!

Our aim's to save you money quickly and easily. We hope you like it!

Forum Team Contact us

Live Stats

226Posts Today

1,255Users online

Martin's Twitter