Parenting, Lifestyle, Budget, Money Saving

Wednesday, 12 November 2014

Ways To Cash In Your Loose Change Without Paying Fees

This week I finally managed to fill my change pot up to the top. Every cooper which I had been given over the last year was in this pot, not to mention silver coins such as 5p's, 10p's, 20p's and a few 50p's. Seeing as we have a lot to buy over the next few month ahead of Christmas, I thought it would be a brilliant idea to cash the money in. I took my change pot to our local supermarket. I found a machine which changes all your change to pounds and notes however I was disgusted to see that for every £1's worth of coins I put in, I would only receive 90p back of that £1 which means for ever £1 I put in 10% would be taken by the machine. This got me thinking on how I could use all my change but pay no fee's to greedy machines.


Take your change to the bank
Many people hate sorting out change and taking it to the bank however did you know some banks now offer a service which counts your change for you and adds it straight into your account? HSBC and RBS offer this service and it is extremely easy to use. All you simply need to do is visit your local bank and see if there is a coin deposit machine. If there is this will enable you to pay your loose coins into your bank account without the need for a paying-in slip or individual coin bags and get a detailed receipt of your transaction. This is a free service in many branches.

Doing it the old fashioned way
This is the longest process in cashing in your change however it ensures you get every penny of your money back. You need to visit your local bank and ask for money bags at the counter, once you have received your money bags you need to go home and sort the change you have saved up. You’ll have to collect at least £1 in coppers and £5 in silver and the selected coins in each bag MUST be the same e.g 100 x 1p's to get £1 in coppers back. Once you have sorted the change all you need to do is take the bags into the bank and the cashier will be able to weigh them to check you have the right number of coins. The cashier can then either credit your account or give you money back for your efforts.

Use your change on self service machines
Most supermarkets now have self service machines. These self service machines are quite efficient and allow you to pay via cash, notes or cards. If you are planning on buying something small why not take your coin jar along to your local supermarket and use your coins in the self service machine, this way you are getting rid of the annoying change, whilst loosing nothing and buying that little treat you need. Warning on this idea - Be considerate to others! It may not be best to pay for £50's worth of shopping in 2p's.

Pay that extra pence in change
Often when we are out in the car we go to the petrol station to pay for fuel. Often the petrol can end up on a odd amount like £31.53. Instead of adding that full uneven amount to your card why not pay £30 on your card and then pay for the remaining £1.53 in change. Not only does this withdraw a even amount on your card, but it is using that loose change up.
SHARE:

25 comments

  1. Love these ideas, especially the petrol one - I hate having to sort out all my coins into bank bags, so these tips will come in really handy! Thank you :)

    ReplyDelete
  2. great article - always have lots of change saved up!

    Ashleigh

    ReplyDelete
  3. I always count out the pennies and take them to the bank, those change machines charge a silly amount

    ReplyDelete
  4. Some good ideas, I'm always ending up with loose change.

    ReplyDelete
  5. We save all our two pences throughout the year for my children to spend on the two pence sliding machines in the arcades- it always provides us with a good days fun if the weather is bad on holiday.

    ReplyDelete
  6. I use the machine in the supermarket, i don't mind the fee as it goes to a charity

    ReplyDelete
  7. My purse is always heavy with cahnge. I am going to adopt your ideas

    ReplyDelete
  8. I have a huge jar full of copper and 5ps and I will be taking them to the Bank the "old fashioned way" as you call it. If only I could summon up the energy to actually do the counting and bagging part.............

    ReplyDelete
  9. wow fantastic idea thank you for your insight into this.

    ReplyDelete
  10. My hubby hates changed on he breaks notes all of time so I end with av bag full of chage which I try to use up on purchases, coppers are the worst. thank you for your ideas!

    ReplyDelete
  11. Thanks for this great tips x

    ReplyDelete
  12. Thanks for the tips, I attempted to change all mine at a local post office but was told it was an act of money laundering 😟 , I was only trying to change it all for the kids for there hols x

    ReplyDelete
  13. I have at least £30 worth of coins & have always been too embarrassed to take my coins to the bank. I did have a face pulled at me once by a clerk even when it was for charity. Had no idea they had coin deposit machines. I will be googling that asap.

    ReplyDelete
  14. My son who works at a supermarket told me when buying at self service checkouts if you throw in all your loose change first it will give you change in notes. Eg. buy something for £1.00 throw in all your change that might amount to £6.00 and you will get a five pound note back

    ReplyDelete
  15. I often pay the extra in change - say if something comes to £9.08 I'll pay £10.08 so I only get a £1 in change.

    ReplyDelete
  16. Great tips, thanks. I use the bank and self-checkout

    ReplyDelete
  17. Great tips, I've always had a change bottle at home and every few months think that I will put it into bags to go to the bank ... it doesn't get there all the time because of the weight LOL so in future I'm going to stick the odd few quid into the self service tills.

    ReplyDelete
  18. Very useful suggestions. OH always comes home and empties his pockets of loose change, & it's always hard to use up all the coppers. I hate those coin machines at the supermarket that charge you a percentage!

    ReplyDelete
  19. I have a large Winnie the Pooh full of coppers and also was appalled that the Supermarkets charge for changing it up so these are great ideas thank you!

    ReplyDelete
  20. Love these ideas. Off to count my loose change

    ReplyDelete

Thank you for commenting! Have a lovely day!

© MUMMY TO THE MAX | All rights reserved.
Blogger Template Created by pipdig