Loose change - banking in for savings

djhworld

Sorry, this question might be a bit stupid but this issue is confusing me.

You know the money bags you get from the bank? Well on the front there is instructions printed stating

"£5 in 10p or 5p
£1 in 2p or 1p"

....You get the idea.

What I want to know, is do the bags have to have that amount in them before they can be banked?

Or is that the maximum value they can hold?

I.e. Say if I had £2.90 worth of 5p pieces, would I be able to place them in a bag and hand them in?

It's just I have £25.45 in loose change and would like to bank it all.

Thanks for any replies.

kazd

The banks normally require the full amount to be in the bags, they also quite often limit the amount of bags you can pay in in one day. There is some leniency though if you are paying into childrens savings accounts.

jonesMUFCforever

Depends.
If the bank is full of customers then coin bags have to be correctly filled in order to weigh them not counted by hand.
So be polite and go in when bank is quiet then you should be ok.

jaybee

Generally if you have an account with the bank then they don't mind how many 'bags' you pay in. Im with Lloyds TSB and they are fine with however many I take in (although it's not usually more than 5 or 6 - they may feel differently if it's 100s!!)

exel1966

djhworld wrote:

Sorry, this question might be a bit stupid but this issue is confusing me.

You know the money bags you get from the bank? Well on the front there is instructions printed stating

"£5 in 10p or 5p
£1 in 2p or 1p"

....You get the idea.

What I want to know, is do the bags have to have that amount in them before they can be banked?

Or is that the maximum value they can hold?

I.e. Say if I had £2.90 worth of 5p pieces, would I be able to place them in a bag and hand them in?

It's just I have £25.45 in loose change and would like to bank it all.

Thanks for any replies.

Two weeks ago I deposited over £4000 in various coins in two visits to LLoyds Bank.

£1 = £1870.00
£2 = £640.00
50p = £630.00
20p = £490
10p = £190
5p = £198
2p = £82
1p = £34

You wouldn't believe how heavy that lot was !!!! It took about one hour to process in total, but all the coins were pre-bagged into the small and larger coin bags. I checked with Lloyds beforehand when the best time would be to visit and they were quite happy to take such a large amount. Amazingly enough every bag was correct !!! As for a small amount of £2.90 in a bag, i'm sure they'd be happy to do that for you if you visit outside of the lunch period 12-2.
But don't go the branch and expect the counter staff to sort and count your money if you have a lot of loose change. They won't appreciate it, and they could even refuse to take it.