saving loose change (merged)

lswwong

Hmmmm .... I have heard of the legal tender point mentioned above.

However, I did deposit 16 pounds worth of coins OTC at HSBC's Moorgate branch in London on Thursday 10 May. They were 3 bags - 1 bag 10 pounds 20p coins, 1 bag 5 pounds 5p coins and 1 bag 1 pound 2p coins. No problem whatsoever. Did this too in the past both at HSBC and NatWest and had no problems.

exel1966

ejones999 wrote: »

I bet you were popular!

I pre-arranged it with my local branch and did it in 3 visits. Had to be 3 visits because of the weight of it in the car !!!!
Was accumulated over approx 4 years from my give-up smoking fund. Used to save the equivalent i would have spent on cigarettes in huge whisky bottles.

exel1966

katherinemackenzie wrote: »

Seriously, if you have more than a handful it stops being legal tender????

In some denominations yes it does. £2 and £1 coins have no limit, but all the others do ! The others are :-


50p - for any amount not exceeding £10

25p (Crown) - for any amount not exceeding £10

20p - for any amount not exceeding £10

10p - for any amount not exceeding £5

5p - for any amount not exceeding £5

2p - for any amount not exceeding 20p

1p - for any amount not exceeding 20p

What it basically means is that any service provider/shop etc can refuse to take payment for goods if the amounts exceeds the above.

avfc4life

exel1966 wrote: »

I pre-arranged it with my local branch and did it in 3 visits. Had to be 3 visits because of the weight of it in the car !!!!
Was accumulated over approx 4 years from my give-up smoking fund. Used to save the equivalent i would have spent on cigarettes in huge whisky bottles.

Sorry this is off subject;)

I want to get one of those huge whisky bottles aswell but cant seem to find them anywhere. Could you please tell me where you got yours from I know they are usually on sale in places like debenhams around christmas but i dont want to wait till then do you know anywhere

Thanks

exel1966

Got mine from my local pub !! Most pubs will get them at some stage and maybe keep a few but I think most get recycled. Just ask around.

Biggles

The phrase 'legal tender' is not relevant when it comes to paying into a bank.

£25 won't be any problem, though it would clearly be appreciated if you had gone to the trouble of counting them and bagging them beforehand.

I was in the habit of banking up to £1,000 a week in coins at one time. That was never a problem (except for me to bag up!) and I would be in and out of the bank in no time.

exel1966

Biggles wrote: »

The phrase 'legal tender' is not relevant when it comes to paying into a bank.
QUOTE]

But it is relevant when exchanging them !

katherinemackenzie

Thanks all - will count, bag and give my local branch a go. Cheers, K.

jonesMUFCforever

exel1966 wrote: »

I pre-arranged it with my local branch and did it in 3 visits. Had to be 3 visits because of the weight of it in the car !!!!
Was accumulated over approx 4 years from my give-up smoking fund. Used to save the equivalent i would have spent on cigarettes in huge whisky bottles.

Ah That's different.
Forward planning - I like that in customers.

However just think of the interest you would have gained on the money if you had emptied the bottle monthly.

torbrex

If you have an account and your branch has a quick deposit facility, all you need to do is register to use it (free) and when you get your key you can just put all the bagged coins into the deposit bag and pop it in the slot anytime. I use this deposit method on a weekly basis sometimes with upwards of £300 in coins, no standing in long business counter lines and depressed looks from the tellers.