Coin counting machines - rates

AntCL

I have a couple of simple questions but despite searching the web and these forums I haven't found anything that seems to answer them so here is hoping somebody can.

- Do coin counting machines constitute a service or a sale?
- Do coin counting machines have to display rates before using the service?
- If you have loaded your loose change and are then informed of the rate, do you have a right to cancel the service/sale, free of charge?
- What should you do if if you can't easily do any of the above, i.e. cancel operation once started?

These seem to be appearing as rapidly as the ATM's that used to charge ridiculous rates for dispensing cash.

I find these machines in various local supermarkets/public market areas. Discussion with supermarket customer services have been at best unhelpful, they deny any responsibility for them as they are 3rd party services. Also, all machines seem to be different, charges, operation, advertising, etc and in some cases I have seen charges as high as 8.9% (after my son loaded the machine with change and had no means to return it).

Thanks in advance.

System

Most banks have them now. It goes straight in your bank account with no fees.

texranger

the coinstar one at my local Asda store clealy states their charges before you place any coins in. but here is what it shows on their website

http://www.coinstar.co.uk/uk/Webdocs/A1-1

Coinstar's patented self-service kiosk is easy and fun to use. Just pour in your jar of mixed coins and watch them add up. The Coinstar Centre accurately counts up to 600 coins per minute, saving you the time and effort of sorting, rolling and taking them to the bank. When you cash in, you'll get a voucher to redeem for cash at the store checkout or apply to your purchases. Check your voucher for special promotions or sweepstakes that Coinstar may be offering. In the UK, the fee for our coin counting service is 8.9 pence per pound counted. In Ireland the fee is 9.9 cents per Euro.

mountainofdebt

I must admit I despair when I see one of these machines being used - I feel like going up and offering to count the money if people are willing to throw 9% of the money they've saved away.

AntCL

That does kind of answer some of it (Thanked).
The rate is on their website though which people may not be able to check from in-store.

Another of the big 4 also has a clear note on the machine indicating the rate but the one that we used last weekend and which I saw again this morning (prompting this post), does not display any rate before use only once you have loaded your change.. voucher or charity.. no other options at that point and because of this, never having used one before, we thought it was free. Another customer after us thought the same but since they were only converting some copper, they decided to carry on with the service.

mountainofdebt

[QUOTE=AntCL;48478397[/quote]
The rate is on their website though which people may not be able to check from in-store.

Another of the big 4 also has a clear note on the machine indicating the rate but the one that we used last weekend and which I saw again this morning (prompting this post), does not display any rate before use only once you have loaded your change.. voucher or charity.. no other options at that point and because of this, never having used one before, we thought it was free. Another customer after us thought the same but since they were only converting some copper, they decided to carry on with the service.[/QUOTE]

In fairness to coinstar I'm sure that the rate is quoted on a sign on the machine....hence I know never to use one !

scheming_gypsy

mountainofdebt wrote: »

I must admit I despair when I see one of these machines being used - I feel like going up and offering to count the money if people are willing to throw 9% of the money they've saved away.

are you going to count it, bag it and then take it to the bank and cash it in for them? For the sake of £8.90 in from £100 i prefer to empty it into a machine and then do my shopping, pay with the voucher and get the change in cash.
What i don't want to do is go to the bank to get some cash bags, go home and spend hours counting and bagging and then go and queue up again in the bank.... If you calculate running costs and my time at my currently hourly rate; 8.9p in the pound is a bargain.

nikki1520

I'm with scheming gypsy on this one. I'll often take all the shrapnel (less than 20p) down and do it in the machine. I'm happy to pay less than 9p in the ound for the convenience.

mo786uk

AntCL wrote: »

- Do coin counting machines constitute a service or a sale?
- Do coin counting machines have to display rates before using the service?
- If you have loaded your loose change and are then informed of the rate, do you have a right to cancel the service/sale, free of charge?
- What should you do if if you can't easily do any of the above, i.e. cancel operation once started?

I have used the COINSTAR ones in Tesco and Sainsburys and they used to charge 7% I think and made this clear - looks liek the price has gone up since though.

To anser your question

- its a service
- yes they should because it is critical information you need to make an informed decision - I would be surprised if they didnt somewhere
- you should do
- if you have no other choice - get your money converted and complain

As it is a standalone vending machien i think your contract is soly between you and the machine makers and I dont think the supermarket has any liability - its like a seperate business operating on the premises of the sueprmarkets business property.

texranger

mountainofdebt wrote: »

In fairness to coinstar I'm sure that the rate is quoted on a sign on the machine....hence I know never to use one !

all the coinstars machine ive seen does have it on the machine and even mentions this on the screen

adonis

Don't forget, you can use the self service tills if you only have a small amount of shopping and pay with all your change.:D