Banking cash

Gettingtherequickly

Hi all

I have a box which I throw 50p & 20p pieces into, there is probably a couple of hundred pounds in there now. I have the opportunity to get it counted by machine (something I am involved in and the money counting machine we currently have is being replaced, so will need to be trained how to use new one. so it seems sensible to kill two birds etc!)

Anyway, once it is bagged up, I then have the problem of banking it. I think most banks have a limit on the amount of coins that can be banked at one time, some stupid amount, so can anyone make suggestions on how I can get it banked easily?

pmduk

It depends on your branch, some of the ex-building societies have very limited storage space, so impose restrictions on what you pay in. Some larger branches have cash counting machines which will credit the funds direct to your account.

Gettingtherequickly

Thanks for that, may nip in and ask what limits they have, hopefully it will be no of bags rather than value.

ic

Just go and buy your shopping at a super market and pour it into the self-serve till. Certainly that is how they put cash into the Morrisons machines.

alanq

Some banks, including all Metro Bank and some larger HSBC branches, have machines that accept loose coins so no need to sort / bag them in the first place. I am not aware of any limits.

quidsy

Go to Metro bank, their machines are free & once counted yo wil get a voucher to use at the counter for cash.

Wywth

Gettingtherequickly wrote: »

Hi all

I have a box which I throw 50p & 20p pieces into, there is probably a couple of hundred pounds in there now. I have the opportunity to get it counted by machine (something I am involved in and the money counting machine we currently have is being replaced, so will need to be trained how to use new one. so it seems sensible to kill two birds etc!)

Anyway, once it is bagged up, I then have the problem of banking it. I think most banks have a limit on the amount of coins that can be banked at one time, some stupid amount, so can anyone make suggestions on how I can get it banked easily?

Most banks have no limits on the amount of coinage they will accept (assuming you bank there)

It's the Building Societies (and maybe some ex ones too) that have limits.

Most banks will expect the coinage to be correctly bagged though (you can get bags for free from your bank) as they will just want to weigh each bag to check it's correct.

I suggest you start by enquiring at your bank what their policy & procedure is

Mags_cat

If you can go outside the busiest periods (i.e. not lunchtime) and if everything is bagged up correctly and it's your own bank you should be OK.

I've heard some people say that they have encountered a "5 bags at a time" policy, but I've never had this issue with Lloyds TSB.

I also have a First Direct account - does anyone know if I can use the coin machines at HSBC? (Not that I've seen any in my local ones, mind you - I'd have to locate one first!)

Lokolo

Mags_cat wrote: »

I also have a First Direct account - does anyone know if I can use the coin machines at HSBC? (Not that I've seen any in my local ones, mind you - I'd have to locate one first!)

Yes you can according a colleague of mine. You need your debit card or account number/sort code to hand.

(there is a thread on MSE somewhere with a list of locations of the coin deposit branches)

ERICS_MUM

my local NatWest don't have a limit on no of bags, they just ask not to take them all in at lunchtime when the queue stretches out the door !

alanq

Mags_cat wrote: »

I also have a First Direct account - does anyone know if I can use the coin machines at HSBC? (Not that I've seen any in my local ones, mind you - I'd have to locate one first!)

Yes. I have done so.

Lokolo wrote: »

(there is a thread on MSE somewhere with a list of locations of the coin deposit branches)

https://forums.moneysavingexpert.com/discussion/2609377