Convert change into notes

Russe11

Loughton_Monkey wrote: »

Count it out and bag it up into bank plastic money bags.

Take them into the bank branch at about 1:05 p.m., causing maximum annoyance to all the customers.

I prefer to join the queue just before the 15 30 cut off approaches

rb10

Loughton_Monkey wrote: »

Take them into the bank branch at about 1:05 p.m., causing maximum annoyance to all the customers.

Russe11 wrote: »

I prefer to join the queue just before the 15 30 cut off approaches

If you take in too many bags at an inconvenient time, then the bank will probably just refuse to accept them. I know that Halifax, Santander and HSBC all have restrictions on paying in large amounts of coin, but you can often get away with it at less busy times.

nzseries1

I've outlined a few "thinking outside the box" ideas on this blog post:
What to do with a large pile of coins

System

It's never occured to me that a bank would object or make a charge for paying cash into one's own account. Retailers bank thousands of pounds a week in cash.
Barclays for example always seem pleased to see me. I bank our takings during my lunch hour because that's the time that suits me. What's the problem?

WhiteHorse

Don't you just love those coin-note changer machines that you see in supermarkets? 'Turn your coins into cash' they say. As if coins are not money.

Neat psychological trick.

leahciM

rb10 wrote: »

If you take in too many bags at an inconvenient time, then the bank will probably just refuse to accept them. I know that Halifax, Santander and HSBC all have restrictions on paying in large amounts of coin, but you can often get away with it at less busy times.

I used to take in bags of cash all the time when I was younger - we're talking £30's worth of 2ps. I'd do it at lunch time and the guy behind the counter wouldn't ever say anything.

Guess it is a policy that the banks won't accept your coins if they're busy, but in reality, the person behind the counter will probably process you rather than deal with the hassle of telling you to come back later.

stokelady1

My local Natwest also offers the free coin drop machines if you have an account with them, not sure if it is in all branches?

agrinnall

asbokid wrote: »

I was looking at the machine in Tescos..

It takes an outrageous 7.9% commission if you request it to change coins into bank notes.

The instructions on the machine are not at all clear, but I think if you request it to change coins into Tesco shopping vouchers, there is no commission..

Does anyone know for sure whether that is correct?

Sadly (as I found yesterday) it is NOT correct. The machine prints a voucher which shows the total amount of the coins fed in and the value that you're getting, which is 7.9% less. You can then either use the voucher to pay for shopping, or on the same day convert it to cash at the customer services desk.

Derivative

Spend at self service stations and shift the cash that way.
Note if you're paying a f'ton of 2p's into the machine, generally it'll take forever to tot up. It took me about 10 minutes to get a Tesco machine to accept £7 in 5p's, eventually I think it got 'full' and I had to pay 50p off in other coins.

I would say use the coins to buy the paper or similar. If you have a spare hour or two (how much are we talking here? £20? £200?) count them out and stick them in the bank.

The 8% commission machines are crap. If you don't have the time and it's a large amount, perhaps count out a tenner a week and stick that in the bank? At least you'll be a well known face :rotfl: