Banking Small Change At Halifax

vickypink

Hi

I don't know if anyone else has had this problem but I went to bank in some small change (£19.52 of coins) into my Halifax current account and the women behind the counter said I can't bank this unless I bag it up. Fair enough I thought so took some money bags and went to bag it all up.

I joined the queue (again) and the women behind the counter (who was very rude) told me I couldn't bank it unless they were full bags. I asked why and she said there was nowhere to keep the money! I thought, your a bank...you hold money!!

I have never had this problem before although I usually deposit it with HSBC but have just started banking with Halifax.

When I told her I had never had this problem before she said that other banks are the same! I ended up paying it into a HSBC account no problem so I know that is not right. Why would a bank refuse to let me put money into my account, yes its a small amount and in small denominations but its money and MY account and if I want to bank 1p or £100 then I should be able to!

It wasn't like I went to a small bank, it was a big branch of Halifax. I just don't get it! While I was there another women had problem banking a cheque. They wouldn't let her bank it because it was under £300!!

Am I missing something??

gt94sss2

Some banks (mainly ex building societies) and current building societies don't like dealing with lots of small change or coin deposits and impose limits on the amount you can deposit each day and if it has to be bagged etc.

This is because dealing with these kinds of 'low value' transactions takes up a 'relatively' long time and there is nothing in it for the bank - also if the branch is busy the staff could be serving other customers (with potentially more profitable transactions etc)

At the very least, 'full bags' of coins can be very quickly weighed/checked on the bank counter machines.

As such, if you want to deposit coins etc., you are better off sticking to the likes of HSBC rather than the Halifax or Abbey National..

I hardly ever deposit coins at all (its not worth it imv), but if I do - I always wait until I have a full bag.. though this may change in future as some branches of HSBC (who I also use) have fitted coin counting machines, where you just put all your coins in and the machine will automatically count them and produce a deposit receipt for you - which is much better for paying in 'odd amounts'

Regards
Sunil