HSBC rant - Unbelievable!

lynzpower

albertross wrote: »

What is so difficult about spending it as you go along, in the same shops that give it to you?

because I get more than I spend!!

Say I start the week with a quid.

Monday, I get a can of coke, leaving me 25p.

what does 25p get you then? not a lot, so I then take another quid out the next day.

Ill buy another can of coke, so theres another 25p change.

I have 50p now, still not enough for anything that I would want to buy. so I have 50p in change, again not enough for a can of coke, so I draw out another pound. say if I buy something else, like an OJ, then I would only have 6p left over. So I have 56p now, again, too small an amount for anything I want to buy. If I want to buy say a newspaper a cereal bar and OJ thats like 1.75 so then again, more money needs to be brought out. and more shrapnel generated.

It very difficult to stick to a daily budget when you dont have spendable change to use IYSWIM

MarkyMarkD

lynzpower wrote: »

but I get more change than I spend! And so many places WONT TAKE COPPER!!! Its not just banks, but buses and london underground dont take copper, parking meters dont take copper. I do take as much of it to the self service checkouts as possible, and feed it in there keeping my cash in the bank, but I dont like to drag around 15 quids worth of copper when doing my weekly shop - I tore a handbag twice carting copper and thats not moneysaving......

I do think its a scandal that banks can pick and choose what format the money can come into the account. Im sure someone will say that banks can choose what they want to do, which like any business they can, but it just bothers me.

Plenty of kids start of learning to save by saving coppers and I think that It just sends out the wrong message, thats all. All saving & prudence should be appluaded by banks, not rejecting money as it comes in coin format.

People only get more change than they spend because they keep tendering notes and large coins, rather than small coins. All the places you mention as not accepting copper also don't give you any copper, so your logic is flawed.

Why should banks waste ages of counter staff time on people paying in stupid amounts of coinage? More to the point, why should other people have to queue for ages in the bank because someone else is paying in stupid amounts of coinage?

Kids are exempt from all of the banks' rules limiting the amount of coinage paid in, precisely for the reason you mention.

It's a shame that some people don't grow out of childish savings habits and save money instead by simply spending less, not hoarding coins, when they are an adult.

lynzpower

It's a shame that some people don't grow out of childish savings habits and save money instead by simply spending less, not hoarding coins, when they are an adult.

But you are proving your own point there Marky.

Im not spending for the sake of it, just to "get shot" of my coins.

As the OP has shown they have almost 80 quid in coins.

Do you think that YOU would buy something for 80 quid using shrapnel like this, ie,would you take 40 quids worth of copper to fill up your car? Would you spend 50 quid of copper to sainsburys?

Of course I try to offload bits here and there if eg I buy a newspaper Ill of course try to pay in copper. But over a pounds worth and it DOESNT GET ACCPETED

Are you saying that I should try to make every endeavour to squander copper just so I dont have to inconvenience the poor banks yet again to help me look after my own money

I am not saying some poor hard done by clerk has to waste thier time with me, BUT 80 quid is 80 quid, whether its 4x 20 pound notes or bags full of change in an auto hopper.

I await 2008s announcement from the mint when they bemoan the lack of copper in circulation and urge us to dig down the back of our sofas again. We dont need to, there are scores of MSErs who save copper, Ideally, yes, wed put it in the bank to start earning a bit of interest on it. But alas, we cant.

SIGH

lynzpower

Why should banks waste ages of counter staff time on people paying in stupid amounts of coinage? More to the point, why should other people have to queue for ages in the bank because someone else is paying in stupid amounts of coinage?

What i meant to add was, I dont think we NEED to have queues, cant we just have a coinstar type hopper in the banks themselves, so that we could just swipe our card, put the pin in, and tip the copper into the hopper, it would count it and just credit our account? Just so that of course, no staff have to be paid to process it?? I cant see this being that difficult to do- can you?

Spark

Why should banks waste ages of counter staff time on people paying in stupid amounts of coinage? More to the point, why should other people have to queue for ages in the bank because someone else is paying in stupid amounts of coinage?

I was saving the £2 coins all year to pay most of my TV licence. I am not doing it anymore but as I recall it didn't take more time at the counter than any other transactions, they were weighting the bags, so it was quick. You did need to have an account with the bank though.
I must admit what I hate the most is the 2p and 1p, I wish they would do away with it.:)

BallandChain

I don't know how you can accumulate a lot of copper like that. I pay by cash for all my shopping needs and just use the change as I go along. The smaller stores are always appreciative of it as they don't have to worry about running out of small change, but then again I don't pay in lots of 2ps either.

In the past I went into my Building Society and tried to pay in bags of 2ps, they said they'd only accept a maximum of 5 I think it was. I had more than that as I was saving them for my son so just handed over 5 bags and then took the next 5 in when I was next in town.

YorkshireBoy

lynzpower wrote: »

Just so that of course, no staff have to be paid to process it?? I cant see this being that difficult to do- can you?

No. It's just a case of each bank investing the capital to purchase the odd machine (or 4,000), and setting aside a sum of money from their revenue budgets for the depreciation and ongoing maintenance of them.

How much would you be prepared to pay for such an additional/unusual service? 2%, 4%, 6% of the amount counted??

lynzpower

maybe the royal mint should provide these machines then! They are the voices telling us to bring them into circulation, as they dont want to keep pressing more.

Retired_I.F.A.

Is there a Morrisons near you? I saw a machine in one the other day which sorts your money and gives out notes. Least I think it did I did not look very close at it.

reehsetin

^they usually take a percentage though