Coin counting machines - rates

Fridaycat

Sorry to be slightly off-topic, but does anyone know if there are machines in the uk that will do Euro shrapnel? We must have at least €100 in small denomination coins that I would gladly pay 9% to have converted into either euro notes or sterling.

AntCL

Thanks for all the replies, especially mo786uk. :beer:

The one in my local Tesco does not have any 7ft, 1ft or even 1inch sign, I checked very carefully to see what the rate was before he tried to deposit his change. Read all the info and took the lack of signage/on-screen rate info to indicate it was a service being funded by them. I guess they are not that altruistic.

There wasn't a method of cancelling the service, I checked very carefully again when my son screamed about the loss of cash (he only had £15 and was trying to top up his mobile pay-as-you-go for the double bonus credit; has to be £10, £15 or £20).

I do have the time to bag up silver (unfortunately) and since I live reasonably close to a branch of my bank, I take it there normally to credit my account. They don't have a coin machine but the main one in town does, although it has been 'broken' the couple of times I have carried a bag of ~£100 of change

Personally, I won't use them ever... unless I win the lottery and Camelot decide to pay me in 5p's..:eek: then I won't really care, will I? lol

brettcta

i'm currently doing the sealed pot challenge and took my pot down to natwest on friday and had £68 in change. balls to counting it all up, just tip it in to my bank account and off we pop.

i do wish more branches had them though, the one at my local branch is intermittent at best and i've found a few times that i've rocked up with tubs full of change and it's been out of order

Flyboy152

scheming_gypsy wrote: »

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.

Or....here's a novel idea; why not count it as you save it. Each time you put some money in the jar and it looks like five pounds worth, count it up and bag it then. Or just weigh it on the kitchen scales.

dotlibbydot

goater78 wrote: »

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

Yeh I use Natwest, throw it all in one of their machines in branch and it debits into your account with no fee.

tuggy12

dotlibbydot wrote: »

Yeh I use Natwest, throw it all in one of their machines in branch and it debits into your account with no fee.

LOL, no wonder banks have a bad reputation !!

So they take your money and then DEBIT your account.

The shareholders will be delighted.

tomwakefield

tuggy12 wrote: »

LOL, no wonder banks have a bad reputation !!

So they take your money and then DEBIT your account.

The shareholders will be delighted.

Double entry bookkeeping. If I increase the value of an asset (such as a bank account) it's debiting.

WhiteHorse

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.

Exactly.

The interesting thing is that the sort of people who use these machines would be the first to tell you that they are 'poor'.

paddyrg

Slightly festive necro of an old thread - but it made me smile...

brettcta

paddyrg wrote: »

Slightly festive necro of an old thread - but it made me smile...

i, however, handle them fantastically well.

this thread reminds me, i have to take a bucket o' change in on wednesday