Bags of Change

narabanekeater

My local Mossisons has a self scan till where you can litrally pour all your loose chage into to pay for your shopping
Made me laugh the other day to see someone with a carrier bag full on 2ps pouring them into the slot

dzug1

Valli wrote: »

Why not make an appointment to bank your bags in one go...if they are expecting it it won't be such a shock.
How do businesses pay in cash takings?

They pay it in at the counter - usually just ahead of me in the queue. They are probably charged for doing so.

Larger businesses will use Securicor or something similar. Again it don't come free.

LittleVoice

Jacquiesce wrote: »

I empty the jars at various times of the year, whenever they are full, and (1) I always put every last penny into my ISA just before the interest is due.

Does anyone know if the (2 ) percentage that Coinstar machine takes off goes to charity?? I was sure it did but maybe I am wrong.. I know there is the option to donate it all.

(1) Why before the interest is due? This makes some sense if that is also just before 6 April - but only because it will be taking advantage of the then current year's allowance. As already said, it doesn't help in gaining any extra interest in the year as it only accrues interest for the time it is in the account.

(2) If they give the money to charity the machine would have to specify the details of how this is done. As far as I know, they are there to make money, not give it away. And, given that, they may even be taking their percentage even if the depositer wants to give the proceeds to charity via the machine. And if they do offer that option, again they need to say on the machine how it is done.

ailuro2

My hairdresser told me his bank charges 4 % for bags of change, even on bags of pound coins!!

Ask at your local shops or pub if they want to take the change off your hands, job done, no fuss!

Oblivion

ailuro2 wrote: »

My hairdresser told me his bank charges 4 % for bags of change, even on bags of pound coins!!

That does not surprise me at all. The cost of securely moving heavy coinage around is huge. When Cash-In-Transit firms (they are the ones who use security vehicles to transport and bank takings from various cash offices) quote for a contract, they always ask for a breakdown of your annual takings split between notes and coin. If you are heavy on the coin side, your quote will be huge.

Moving metal around the country is not a cost-effective activity.

Dave.

charlie555

ailuro2 wrote: »

My hairdresser told me his bank charges 4 % for bags of change, even on bags of pound coins!!

After I posted earlier on this thread I took a load of change to a small local shop to pay for some groceries and asked if he minded being paid in small change. He said he would be delighted to have it as they have to 'buy' change from the bank. So let's all do our bit and take a handful of the jangly stuff whenever we go shopping.

SpoonyOh

Bah! Charlie555 you beat me to it! My son's godmother runs her own shop and I take all my shrapnel there. She's happy to not pay her bank for the privilege of having shiny bits rather than paper bits, and I gets my luvverly paper bits (which of course I then stash sensibly......ahem).

brightonman123

i am surprised the banks are refusing ANY cash, right now!

sd006c3768

If you have and account with Lloyds TSB they have no limit on how many you pay in. Just need to avoid lunchtimes.