Giro Credit Book

Paton147

My wife is the treasurer for a Toddler group and does the basic banking. Every month she bags up the takings to deposit in the account and she gets a bit of moaning and huffing despite modern technology weighing and confirming the bags all add up to £20.

The bank kept asking why she didn’t have a giro credit book and eventually they posted one out.

We can’t work out what it’s for though! She gets a receipt anyway for her records! So why is it important for her to fill this in?

Westie983

Many organisations require an audit of payments into and out of an account in addition to the bank statements.

A Giro book (or paying in book) will allow your wife to fill in the stubs with every credit so it can be verified against the statements.

Westie983

jonesMUFCforever

Doesn't listing the monies paid in on a credit slip not make it easier for her AND the bank when paying in rather than throwing a load of cash to be sorted then counted?
Less chance of an error IMO.

Paton147

But she has the receipts from each deposit.

jonesMUFCforever

Paton147 wrote: »

But she has the receipts from each deposit.

I don't think that is the point the bank are making - handing a bunch of cash over without a breakdown can sometimes lead to errors (on both sides) a book where each denomination can be written in makes it easier (and quicker)for both parties.

Anthorn

Paton147 wrote: »

My wife is the treasurer for a Toddler group and does the basic banking. Every month she bags up the takings to deposit in the account and she gets a bit of moaning and huffing despite modern technology weighing and confirming the bags all add up to £20.

The bank kept asking why she didn’t have a giro credit book and eventually they posted one out.

We can’t work out what it’s for though! She gets a receipt anyway for her records! So why is it important for her to fill this in?

An old concept which has largely been superseded by "Pre-printed Payment Slips" in a "Paying In Book" which are the same thing and which can be used in most banks and post offices.

I haven't seen bank giro slips in a long time but that doesn't mean they don't exist.

JuicyJesus

jonesMUFCforever wrote: »

I don't think that is the point the bank are making - handing a bunch of cash over without a breakdown can sometimes lead to errors (on both sides) a book where each denomination can be written in makes it easier (and quicker)for both parties.

This is exactly it.

Trust me on this as someone who worked in a bank as a cashier, someone coming in to a bank with a whole heap of coins they don't actually know the amount or breakdown is makes the whole process a lot harder and take a lot longer than it actually needs to, while ultimately means other people have to wait for the bank and the customer to agree something that realistically the customer should already know. It also means that in the event of a dispute over the amount - either on the bank's or the customer's side! - there's a lot less to go on as there's no itemisation of the funds to check against.

If it was £20 in £1 coins then fine, whatever, that's nothing, but if it's a whole bunch of mixed coins (as it sounds like here) then you're damn straight I would have asked for it to be broken down. Indeed, it sounds like here that there isn't even a total to go on, and frankly if someone had come to my counter without even knowing what money they were actually paying in I'd ask them to find out first - the possibility of them turning round and going "actually I gave you £X" and me, the cashier, not having a leg to stand on is just too great.

Westie983

JuicyJesus wrote: »

This is exactly it.

Trust me on this as someone who worked in a bank as a cashier, someone coming in to a bank with a whole heap of coins they don't actually know the amount or breakdown is makes the whole process a lot harder and take a lot longer than it actually needs to, while ultimately means other people have to wait for the bank and the customer to agree something that realistically the customer should already know. It also means that in the event of a dispute over the amount - either on the bank's or the customer's side! - there's a lot less to go on as there's no itemisation of the funds to check against.

If it was £20 in £1 coins then fine, whatever, that's nothing, but if it's a whole bunch of mixed coins (as it sounds like here) then you're damn straight I would have asked for it to be broken down. Indeed, it sounds like here that there isn't even a total to go on, and frankly if someone had come to my counter without even knowing what money they were actually paying in I'd ask them to find out first - the possibility of them turning round and going "actually I gave you £X" and me, the cashier, not having a leg to stand on is just too great.

If it helps this still happens now...

I have to send them away with coin bags and tell them to return, being the only cashier on the counter the queue building up can make the whole branch fall apart, sadly im surprised the amount of customers dont know and just accept what you count and agree.

Its a headache as you must know to have that cash error at the end of the day....

Having business accounts for both my Brownie and Guide accounts having the breakdown is better for all and its verified with the accountant at the end of the year with the cheque book and the bank statements, less likely to misplace the receipts and that said the risk of getting a receipt with an incorrect amount on it.

Onwards and upwards

Westie983

Savvy_Sue

I used to pay the takings for the school fair into the Post Office, and as a matter of courtesy to the staff and the other customers I would have everything correctly bagged before I arrived, with a list of how much I was paying in and how it was broken down, eg £100 in £5 notes, £100 in £2 coins and so on.

Where I work now we make occasional cash payments into the bank, but we leave ourselves some petty cash, so we only pay in 'full' bags and the loose change left over waits for next time.

The other thing is that the receipts will usually be stapled into the paying in book (or giro credit book), making them harder to lose ...

Anthorn

Use a Coinstar machine. You can have your coins counted and then get a voucher to spend in-store or exchange for cash and you can also directly donate to charity. There is one in my local Sainsbury's store. There is a machine locator on the Coinstar website:
https://www.coinstar.co.uk

Westie983

Anthorn wrote: »

Use a Coinstar machine. You can have your coins counted and then get a voucher to spend in-store or exchange for cash and you can also directly donate to charity. There is one in my local Sainsbury's store. There is a machine locator on the Coinstar website:
https://www.coinstar.co.uk

Coinstar takes between 8 - 10 % off the total paid in so maybe an alternative option that doesn't charge.

Westie983