Depositing Saved Change into Banks (only accept 5 bags)

withnell

oldwiring wrote: »

This not not the answer to the OP's question, but it should be realised that cash ( especially coin) in banks' tills takes up space, needs a safe, has to be controlled ( 2 persons in my day) and does not earn then any money.

I also wonder if the ex BSs like Alliance are even less equipped than the main stream Banks tp deal with large volumes of coin.

That's correct - its the same reason that only the banks offer safe deposit box services - most of the old building societies have fairly small safes.

willo65

If you had an account with a proper bank like mentioned before (Barclays, Natwest, HSBC) then I'm sure you wouldn't have a problem. I often have a problem where people want to pay a bill by Giro Credit and the same "banks" with the coin issue can't take them because they are not clearing banks. Then the customers come to us to pay and we say it will cost £10 - we get all sorts of people kicking off about it but if you had an account with us then it would be free.

7sefton

Surely Halifax, Abbey, etc are clearing banks because they issue and clear their own cheques. They just weren't banks when the bank giro credit system started up, so can't process them at their counters (and it wouldn't be worth changing their computer systems because giros are on the way out anyway)?

willo65 wrote: »

If you had an account with a proper bank like mentioned before (Barclays, Natwest, HSBC) then I'm sure you wouldn't have a problem. I often have a problem where people want to pay a bill by Giro Credit and the same "banks" with the coin issue can't take them because they are not clearing banks. Then the customers come to us to pay and we say it will cost £10 - we get all sorts of people kicking off about it but if you had an account with us then it would be free.

giraffe01_2

I've never had a problem paying bags of coins in at Barclays and I've done it at several branches - this thread is making me a bit wary of taking my latest stash though in case they've changed their policy!

In the past I've also taken bags of coins to the Post Office and as long as they're bagged correctly, they have exchanged them for notes. You can then take them into whichever financial institution you hold your account with and pay it it. A little extra work but it's always an option.

Off to count my money pig now

Waggers

Every December I empty the old jar and go to NatWest with around £200 in correctly bagged up change. I don't know how many bags I use, perhaps 20/30 but I have never been turned away. I do always make sure that I go at a quiet time of day and I always have a few extra each of the coins in my pocket should I have made a bagging mistake. I do have several accounts at my local branch so perhaps this is why they have never had a problem handling my change. I am truly amaized at all these "maximum of 5 bags" postings as I never thought a bank would want to turn away cash!

7sefton

For the last time, proper banks such as Barclays, NatWest, HSBC etc DO NOT HAVE LIMITS - never have done, never will do. It's just the building societies and former building societies that do, so don't worry if you have 200 bags to pay in at your local bank!