Can I pay postage stamps into my bank account?

wolvoman

Now, I know they are legal tender but not sure about this. I accepted (perhaps too hastily) payment for a used PC from an eBay buyer in postage stamps. It is about £250 in various denominations of stamps (5p, 9p, 1st Class, 37p and £1.00).

Can I pay these direct into my bank account? Or can I cash them in at a post office?

Cheers

gt94sss2

I think you may find that stamps are actually not 'legal tender' in the UK - hence I doubt any bank will accept them as a deposit.

(Not being legal tender doesn't mean some shops etc won't accept them - only that its not compulsory for them to do so)

Regards
Sunil

focusgaming

I would have thought the post office would have taken them back?

JohalaReewi

You should be able to pay them into a bank account although there may be a special charge. Check with your bank.

Related thread on another forum...

http://www.policespecials.com/forum/index.php?showtopic=5288&st=0

JohalaReewi

gt94sss2 wrote:

I think you may find that stamps are actually not 'legal tender' in the UK - hence I doubt any bank will accept them as a deposit.

(Not being legal tender doesn't mean some shops etc won't accept them - only that its not compulsory for them to do so)

Regards
Sunil

Strange though it may seem, postage stamps are legal tender in England and Wales (not sure about Scotland). However, being legal tender means thay cannot be refused as payment of a debt. This is not technically the same as shops accepting them as payment for goods so shops can choose to refuse them even though they are legal tender.

CopperPlate_2

Hmmm. I can just see me wandering into Sainsbury's to pay for my Christmas food shopping with a clutch of 2nd class stamps...queues...???!!! :eek:

Idiophreak

By way of a stupid question...why would anyone pay in stamps anyway??

gt94sss2

JohalaReewi wrote:

Strange though it may seem, postage stamps are legal tender in England and Wales (not sure about Scotland).

Not according to the Royal Mint or The Guardian

Regards
Sunil

CopperPlate_2

Idiophreak wrote:

By way of a stupid question...why would anyone pay in stamps anyway??

Quite.

rjm2k1

More importantly, why would anyone accept payment in stamps? Is this a normal ebay option?

PoochyChoo

i would accept payment in stamps for items up to about £5 it owuld be handy,

but £250... you must be mad.. and why did he have £250 of stamps lying about his house anyway to pay with.. probably steamed off old letters ! or nicked ! LOL