/ Best way to change £1500 in loose change into cash.
Supermarkets have machines that count and take money from you. 7% commission I think.
Are you sure? I took £80 in bags, in 1ps, 2ps and 5ps to our bank when we moved house. No quibbles at all.
The machines take a commission but for low value coins it's probably your best bet.
Halifax won't take more than 3 bags per day, but I've had no problems with Barclays for up to about a dozen bags.
Problem is not neccesarily the bank, more the secure courier company they use to take the excess cash off-site, apparently.
Ive never had a problem, what do you think businesses do with all the change they get given?
Likewise. I took over £300 of 1p, 2p, 5p 10p & 20p coins in to my local branch (Barclays) with no hassle whatsoever - I'd pre-sorted and bagged the coins. For the amount the OP is talking about I'd have a word with the local branch first.
Tip. Use a set of kitchen scales and count out one bag's worth of whichever coin. Bag it and use that as the counter weight - now all you have to do is fill the bowl until the scales balance, bag and repeat. All the time is then in the initial sorting - get the kids to do it while they are off school due to the snow :-)
Know any small businesses? They get charged by the banks for change. Some may have a machine for accurately weighing the coins - much faster than counting in my experience
Not sure if it has taken off in the UK yet but my bank in Holland has an in built coin sorting machine which is free to use to make deposits.
They only charge if the amount done in any one transaction is more than 150 euros or thereabouts but you can do as many transactions as you want on the same day.
Saves all the sorting hassle too which is great.
They use those machines in Germany too. I haven't seen them in the UK though.
I suspect that most banks have them 'behind the scenes' as I can't imagine it's very efficient to have some poor employee counting change out all day...
Natwest have the machines where you can put coins in and it doesn't charge you commission. However, when I used it I got to about £80 before it stopped working because it was full. I don't know what their capacity is or how many had used it before me but I imagine it'll take a few trips for that amount of cash.
The best thing is you don't have to bag them. The down side is you'll get some rejects and it can be a bit tricky to keep track.
I hate having change so I dump it all in a pot when I get home. Every month or so there's about £50 in it. Using the HSBC machine I normally end up with more counted than I actually put in (there's always a few 5ps that get dislodged when you use the machine).
Call the (their) bank and ask.
Amazes me that people would even consider using a coinstar machine. 7% of your money just because they're too bone idle to count, bag and bank it.
Similarly I'm amazed that people will pay £1.50 to use a cashpoint rather than walk a bit further to find a free one.
Maybe I'm just a tight sod...
That wasn't aimed at anyone in particular by the way. It's just a little bug bear of mine (one of many).
When I was a nipper my nana would empty out her handbag once every month or so and let me keep all the loose change in there. I used to love counting it, bagging it, arranging it in piles and eventually putting it in my bank account. I have a feeling it helped with my grasp of arithmetic and general concentration.
Kids nowadays are too busy with their bloody x-boxes. :)
In the past I have been involved in counting up charity collections. We have had several thousand pounds of coins to pay in. We simply counted and bagged them all, made an appointment with the bank and just paid them in. It takes a while though, as the staff have to weigh and count it all (hence the need for an appointment).
Cheers guys, those HSBC coin machines sound interesting, we'll phone around and see what the branches near us say, never knew they had them. Knew of the coin machines in supermarkets, and used them when feeling lazy, they give you a receipt that you can take to the tills and they will change it into cash or you can use it to buy shopping.
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