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store refused money

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kev.s
kev.s Posts: 513 Forumite
in Budgeting & bank accounts
to settle an arguement at work, anyone know if it's wrong of a store to refuse small denomination coins? guy at work went to makro to pay for something £100 ish, he had all £1 coins bagged into £20 amounts, store refused to take it so he left, i thought that store could not refuse legal tender, i could be wrong though, anyone know?
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Comments

  • HappyMJ
    HappyMJ Posts: 21,115 Forumite
    10,000 Posts Combo Breaker
    They can refuse even if you had it in £20 notes.
    :footie:
    :p Regular savers earn 6% interest (HSBC, First Direct, M&S) :p Loans cost 2.9% per year (Nationwide) = FREE money. :p
  • vaporate
    vaporate Posts: 1,955 Forumite
    They are not allowed to refuse cash so god knows what they were thinking..?
    Hi, we’ve had to remove your signature. If you’re not sure why please read the forum rules or email the forum team if you’re still unsure - MSE ForumTeam
  • vaporate
    vaporate Posts: 1,955 Forumite
    HappyMJ wrote: »
    They can refuse even if you had it in £20 notes.

    I don't see why?
    Hi, we’ve had to remove your signature. If you’re not sure why please read the forum rules or email the forum team if you’re still unsure - MSE ForumTeam
  • HappyMJ
    HappyMJ Posts: 21,115 Forumite
    10,000 Posts Combo Breaker
    vaporate wrote: »
    They are not allowed to refuse cash so god knows what they were thinking..?
    They can refuse to accept cash and accept something else if they wish... No debt exists at this point. It's an offer for the goods in question. I'll offer you £100 in £1 coins for those goods anyone can refuse that if they wish. They may wish to only accept debit cards.

    http://www.royalmint.com/corporate/policies/legal_tender_guidelines.aspx
    :footie:
    :p Regular savers earn 6% interest (HSBC, First Direct, M&S) :p Loans cost 2.9% per year (Nationwide) = FREE money. :p
  • vaporate
    vaporate Posts: 1,955 Forumite
    HappyMJ wrote: »
    They can refuse to accept cash and accept something else if they wish... No debt exists at this point. It's an offer for the goods in question. I'll offer you £100 in £1 coins for those goods anyone can refuse that if they wish. They may wish to only accept debit cards.

    http://www.royalmint.com/corporate/policies/legal_tender_guidelines.aspx

    Begs the question why a shop would let a sale slip through their fingers?

    Unusual to me.
    Hi, we’ve had to remove your signature. If you’re not sure why please read the forum rules or email the forum team if you’re still unsure - MSE ForumTeam
  • HappyMJ
    HappyMJ Posts: 21,115 Forumite
    10,000 Posts Combo Breaker
    vaporate wrote: »
    Begs the question why a shop would let a sale slip through their fingers?

    Unusual to me.
    The markup may not be sufficient to cover the costs of storing 100 pound coins counting them taking them to the bank and paying the staff at the bank to count them again.
    :footie:
    :p Regular savers earn 6% interest (HSBC, First Direct, M&S) :p Loans cost 2.9% per year (Nationwide) = FREE money. :p
  • nzseries1
    nzseries1 Posts: 2,240 Forumite
    vaporate wrote: »
    Begs the question why a shop would let a sale slip through their fingers?

    Whatever the reason, the fact is they're allowed to - who are we to question their methods?
    You're spelling is effecting me so much. Im trying not to be phased by it but your all making me loose my mind on mass!! My head is loosing it's hair. I'm going to take myself off the electoral role like I should of done ages ago and move to the Caribean. I already brought my plane ticket, all be it a refundable 1.
  • timbo58
    timbo58 Posts: 1,164 Forumite
    Yes, an offer at full asking price is still only an offer, an item offered for sale in a retail store is 'an invitation to treat', they don't have to accept any payment, they can turn you away because they don't like the 'cut of your jib' if they so wish.
    Unless specifically stated all posts by me are my own considered opinion.
    If you don't like my opinion feel free to respond with your own.
  • simax
    simax Posts: 1,976 Forumite
    Part of the Furniture 1,000 Posts Name Dropper Combo Breaker
    I do like this quote from the Royal Mint:
    In order to comply with the very strict rules governing an actual legal tender it is necessary, for example, actually to offer the exact amount due because no change can be demanded.

    Now, I knew this before but always make me chuckle. If you buy a newspaper with a £20 note, the retailer is not obliged to give you any change :D
    I spent 25 years in the mobile industry, from 1994 to 2019. Worked for indies as well as the big networks, in their stores also in contact centres. I also hold a degree in telecoms engineering so I like to think I know what I’m talking about 😂
  • Derivative
    Derivative Posts: 1,698 Forumite
    'Legal tender' only has to be accepted on settlement of a debt as far as I know.
    Buying an item in a shop doesn't count as you're not indebted to the store.

    I think a better analogue would be, if you give a cashier £10 for a newspaper, they are well within their rights to give you the £8 change in twenty pence coins.

    http://www.royalmint.com/corporate/policies/legal_tender_guidelines.aspx
    Said Aristippus, “If you would learn to be subservient to the king you would not have to live on lentils.”
    Said Diogenes, “Learn to live on lentils and you will not have to be subservient to the king.”[FONT=Verdana, Arial, Helvetica][/FONT]
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