Paying in cash to a current account

sealdriver

Hi
I have a habit of saving most of my coins in my pocket at the end of the day until I have saved a fair amount then I bag them up and pay them into my bank. Today I went to my bank with 14 plastic cash bags full of change, all counted out with the proper amount in each bag. The cashier said they could only accept 10 bags from me and this has recently risen from 5 bags. She also said that other banks charge for accepting cash or refuse to accept this at all. Is this really true? I am astounded that I can't pay any amount I wish into my own account. I have never come across this before and I've had a current account since I was 16. Have others come across this? Does anyone know of a bank that does not have any such restrictions? Thanks
Pat

eskbanker

If you search the forum for threads involving coin bags you'll find plenty of previous discussion about these limits (such as five or ten), but I'm unaware of any banks either charging or point-blank refusing.

https://forums.moneysavingexpert.com/discussion/5731179/where-to-deposit-a-load-of-coins
https://forums.moneysavingexpert.com/discussion/5770459/how-many-money-bags-do-banks-hsbc-specific-allow-at-once
https://forums.moneysavingexpert.com/discussion/5591635/taking-lots-of-coin-into-your-bank

eDicky

Metro Bank branches have a {one might say) very stylish machine in which you can dump your coins.

sealdriver

Thanks, I'll have a look


Aaah, no branches in the north, unfortunately. Thanks anyway.

Katiehound

Why not just spend the cash as you get it? If you want to use the coins as a means of saving jot down the spare loot at the end of the week and set that aside in notes & coins- and then bank that.
HSBC has a paying in machine- but don't know if it accepts coins- it certainly takes notes.

sealdriver

Well, because that's what I've always done and this is the first time I've ever come across a limit on how much I can deposit. Another reason is that I don't have a local branch so I make the trip infrequently and thus the physical amounts are larger.
I'm always amazed at when people ask questions on these forums they are told to do things differently; I was aking if this was common and which banks don't have a limit not how I can change my saving behaviour.
Thanks.

eskbanker

sealdriver wrote: »

I'm always amazed at when people ask questions on these forums they are told to do things differently; I was aking if this was common and which banks don't have a limit not how I can change my saving behaviour.

That seems an unnecessary response.

It's clear that however astounded you may be, you're not going to be able to carry on exactly as before, so it's hardly unreasonable for people to make constructive suggestions, even if you choose to dismiss them and do something else....

EarthBoy

sealdriver wrote: »

I'm always amazed at when people ask questions on these forums they are told to do things differently; I was aking if this was common and which banks don't have a limit not how I can change my saving behaviour.

Banks almost universally have limits on the amount of cash they will accept and 5 bags per time is a common limit. I am amazed that you have never heard of this before. By advising you to do things differently people are trying to be helpful, and it's a shame that you don't realise this. If no bank will let you deposit unlimited amounts of cash then you will have no choice but to do things differently, whether you like it or not. Either stop saving your loose change, or visit the bank more often to pay it in.

Shakin_Steve

Agreed. People on here merely try to advise according to the prevailing winds. It's no good asking how to do something if the means to do it is no longer available. Banks really don't want to spend time counting coins, bagged or not.

Gers

My 'everyday' bank (TSB) take bags. Yesterday the person ahead of me was banking over £100 in coins - teller weighed them all.

My 'other' bank (RSB) has a coin weighing machine in the foyer into which all the coins are tipped at once. The machine sorts them and then spits out a voucher to be taken to the teller where it can be either exchanged for notes or paid in the account.

Sorry, probably not too helpful though I've never encountered a bank which refused to take bag of coins. What would business customers do?

WillPS

Gers wrote: »

Sorry, probably not too helpful though I've never encountered a bank which refused to take bag of coins. What would business customers do?

Pay for access to change banking services (which is one reason some banks aren't keen on providing unlimited free services for personal customers).