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  • FIRST POST
    • FTB-James
    • By FTB-James 3rd Oct 17, 10:23 AM
    • 10Posts
    • 4Thanks
    FTB-James
    Free coin counting machines
    • #1
    • 3rd Oct 17, 10:23 AM
    Free coin counting machines 3rd Oct 17 at 10:23 AM
    Does anyone know where you can take coins to be counted and sorted for free? I have a fairly big mound that needs sorting. I thought Barclays used to have free coin sorting machines but my local branch doesn't seem to have one.

    I'm reluctant to use CoinStar as they take a chunk of my money. I am happy to sit and bag them up for the bank but if there was a free machine to do it, that would be ideal.

    Thanks :-)
Page 1
    • Lokolo
    • By Lokolo 3rd Oct 17, 10:25 AM
    • 19,851 Posts
    • 14,934 Thanks
    Lokolo
    • #2
    • 3rd Oct 17, 10:25 AM
    • #2
    • 3rd Oct 17, 10:25 AM
    Metro usually have them.
    • Mchambers
    • By Mchambers 3rd Oct 17, 10:35 AM
    • 501 Posts
    • 154 Thanks
    Mchambers
    • #3
    • 3rd Oct 17, 10:35 AM
    • #3
    • 3rd Oct 17, 10:35 AM
    Take it to your local bank or building society branch.

    I just put the coins in bags for each type of coin. For example,I have one bag for 50p coins..

    They will then weigh the coins to work out how much money you have.

    Ask for a receipt once they have worked out how much you have.

    I did this last week as I wanted to get rid of all of my coins; in particular my old £1 coins. In total, I had over £57 of coins.

    Lazy yes but get the banks to earn their money for a change.

    For info Barclays will do this.
    • Ballard
    • By Ballard 3rd Oct 17, 10:48 AM
    • 1,660 Posts
    • 1,400 Thanks
    Ballard
    • #4
    • 3rd Oct 17, 10:48 AM
    • #4
    • 3rd Oct 17, 10:48 AM
    Some HSBC branches have machines which count coins and deposit them into your account.
    I got a letter from the government the other day. I opened it and read it. It said they were suckers.
    • alanq
    • By alanq 3rd Oct 17, 10:51 AM
    • 3,883 Posts
    • 2,496 Thanks
    alanq
    • #5
    • 3rd Oct 17, 10:51 AM
    • #5
    • 3rd Oct 17, 10:51 AM
    Metro usually have them.
    Originally posted by Lokolo
    Interesting article
    https://ftalphaville.ft.com/2016/06/02/2164179/the-metro-bank-coin-caper/
    I'm a Board Guide on the Budgeting and Bank Accounts, Savings & Investments, Food Shopping and Over 50s MoneySaving boards. I volunteer to help get your forum questions answered and keep the forum running smoothly. Any views are mine and not the official line of moneysavingexpert .com. Board guides are not moderators. If you spot an inappropriate or illegal post then please report it to forumteam@moneysavingexpert.com
    • EachPenny
    • By EachPenny 3rd Oct 17, 12:10 PM
    • 3,278 Posts
    • 6,036 Thanks
    EachPenny
    • #6
    • 3rd Oct 17, 12:10 PM
    • #6
    • 3rd Oct 17, 12:10 PM
    Thanks, it is very interesting.

    So you put your coins in the machine and if it overcounts then you can 'bank' a little profit. It does sound much harder work compared to the current account and regular savings merry-go-round though
    "In the future, everyone will be rich for 15 minutes"
    • alanq
    • By alanq 3rd Oct 17, 1:48 PM
    • 3,883 Posts
    • 2,496 Thanks
    alanq
    • #7
    • 3rd Oct 17, 1:48 PM
    • #7
    • 3rd Oct 17, 1:48 PM
    I suspect that the unreliability of these machines is a reason that they are not being rolled out into more bank branches (and withdrawn from some that they are already in). The first and only time I used one in HSBC it short changed me by a couple of pounds. Luckily I knew exactly how much I had put in, challenged the amount credited and my balance was later corrected when the machine was checked.

    Unless people pre-count the coins they will not know if Coinstar or whatever is giving a correct total.
    Last edited by alanq; 03-10-2017 at 1:50 PM.
    I'm a Board Guide on the Budgeting and Bank Accounts, Savings & Investments, Food Shopping and Over 50s MoneySaving boards. I volunteer to help get your forum questions answered and keep the forum running smoothly. Any views are mine and not the official line of moneysavingexpert .com. Board guides are not moderators. If you spot an inappropriate or illegal post then please report it to forumteam@moneysavingexpert.com
    • Don80
    • By Don80 3rd Oct 17, 2:04 PM
    • 206 Posts
    • 83 Thanks
    Don80
    • #8
    • 3rd Oct 17, 2:04 PM
    • #8
    • 3rd Oct 17, 2:04 PM
    A lot of city centre and larger bank branches have coin deposit machines. You pop your card and PIN in, then drop in all your coins (no need to sort). It counts them and credits the amount to your account. The only issue is that some coins get rejected, so you need to take them to a counter or spend them.
    • zerog
    • By zerog 3rd Oct 17, 2:07 PM
    • 2,306 Posts
    • 785 Thanks
    zerog
    • #9
    • 3rd Oct 17, 2:07 PM
    • #9
    • 3rd Oct 17, 2:07 PM
    Interesting article.

    With the Metro Bank machines, I am pretty sure they received the extra money because it had been lying around inside the machine. Sometimes coins get stuck inside and need a bit of force (such as the next customer pouring another kilo of coins on top) to get them moving. Or, for whatever reason, the previous user poured extra coins in after the machine had finished counting.

    Also, I think the problems with being short-changed arise when you put in coins that are damaged, discoloured or bent in a certain way. It causes the machine to reject it but it doesn't come back out.

    I have been consistently short-changed by Metro Bank, but only by about 1-2%, and it only ever fails to count (old) pound coins, so I stopped putting those in. 1p-50p are always counted perfectly.

    I also know something more interesting about these machines which I don't want to say publicly.



    The HSBC machines are very accurate in my experience, but I don't use them any more because the money only goes into your account the next day.

    Since HSBC takes any amount of bagged or loose coins at the counter, there isn't any benefit to me using the machines either.
    • alanq
    • By alanq 3rd Oct 17, 2:18 PM
    • 3,883 Posts
    • 2,496 Thanks
    alanq
    The only issue is that some coins get rejected, so you need to take them to a counter or spend them.
    Originally posted by Don80
    Both trial reported in the article to which I linked and my own experience had rejected coins. The discrepancies were AFTER rejected coins were taken into account. (Unless some REjected were not Ejected)
    Last edited by alanq; 03-10-2017 at 2:20 PM.
    I'm a Board Guide on the Budgeting and Bank Accounts, Savings & Investments, Food Shopping and Over 50s MoneySaving boards. I volunteer to help get your forum questions answered and keep the forum running smoothly. Any views are mine and not the official line of moneysavingexpert .com. Board guides are not moderators. If you spot an inappropriate or illegal post then please report it to forumteam@moneysavingexpert.com
    • Flobberchops
    • By Flobberchops 3rd Oct 17, 6:30 PM
    • 594 Posts
    • 429 Thanks
    Flobberchops
    Natwest branches often have coin counting machines if you happen to bank with them.

    I also know something more interesting about these machines which I don't want to say publicly.
    Originally posted by zerog
    Come on, you can't leave us hanging like that!
    I work for a UK bank, but any comments made on this forum are solely my personal opinion. Caveat Emptor!
    • societys child
    • By societys child 3rd Oct 17, 7:55 PM
    • 4,893 Posts
    • 5,333 Thanks
    societys child
    I also know something more interesting about these machines which I don't want to say publicly.
    Well just give us a clue . .

    • EachPenny
    • By EachPenny 3rd Oct 17, 8:17 PM
    • 3,278 Posts
    • 6,036 Thanks
    EachPenny
    Well just give us a clue . .
    Originally posted by societys child
    I bet it is something like if you drop some of the dog biscuits in the machine it counts each one as a £2 coin

    Must try it the next time I go to a branch
    "In the future, everyone will be rich for 15 minutes"
    • karlie88
    • By karlie88 3rd Oct 17, 10:03 PM
    • 8,304 Posts
    • 106,027 Thanks
    karlie88
    Pay the groceries via the self-service checkouts at your local supermarket?
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