How much are you charged for changing up small change in coin changing machines?

[barney15c]

Can anyone tell me how much it costs to change up loose change in ones of those coin changing machines you find in some supermarkets.
I assume you pay so much for every pound changed.

I cant be arsed bagging up and waiting in a bank to change it up as its only a relatively small amount.

Any ideas anyone? - Thanks!!

[dzug2]

Their website says 8.9%

If you are with the right bank and use the right branch you can pay it into your account for nothing if they have a coin machine - no sorting needed

[albaqwerty]

I've seen them charge 25p in the £

I'd rather wait in the queue in my bank to be honest

If you count out 100 pennies and weigh it on kitchen scales and do the same with the rest of the pennies,it gives you a reasonable idea about how many without having to count them, similarly with 2 p's and so on

[Postdog]

In asda you can either give it all to charity or a charge is made and you get a printed voucher to redeem on goods that day

[barney15c]

Thanks very much guys for all your answers...as i said i only have a relatively small amount (around a fiver) so i can take a hit of 50p or so. Might buy me a couple of loaves of bread and some milk next time i'm in Asdas!!!

[Jonathan-Joe]

Is there a limit to the amount of small change you can pay in at the self-service checkout? If you're able to put in 50p or so of small change you could get full value for your £5 over several visits.

[wolf63]

I take my small change to the Tesco self scan till - I usually go when they are not busy and there is no queue. Alas after taking 'forever' emptying my piggy bank into the till machine there is usually a queue of very grumpy shoppers. :-)

[lcg]

if you have that little, why not give the correct odds-and-sods for a while? it won't last long, make your purse/wallet lighter and you get to keep your money! but then, if you haven't thought of that then you probably aren't intellegent enough to do it...a fool and their money are soon parted x

[ABerrant]

@albaqwerty

1p weighs 3.56g
2p weighs 7.12g (i.e. twice 1p)

Dividing weight in grams of any amount of (mixed) copper coins by 3.56 gives the total value in pence.

5p weighs 3.25g
10p weighs 6.5g (i.e. twice 5p)

Dividing weight in grams of any amount of (mixed) 5p an 10p coins by 0.65 gives the total value in pence.

Other denominations need to weighed separately...

20p = 5g
50p = 8g
£1 = 9.5g

[spudqueen]

There is actually a limit as to how much change someone has to legally accept, so if you want to hand over more than 20p worth of copper or £5 of silver coins at a till (or on a bus etc etc) then they are under no obligation to accept it.

It does make me laugh though when someone like Barney is willing to lose 50p out of £5 to save himself a bit of trouble. What happened to the old adage "look after the pennies and the pounds will look after themselves"?

[Old_Geezer]

Someone told me the profit from the machine went to charity. Unsure if it were true. I never contemplate changing my cash into cash and paying for the privilage.

[ABerrant]

@spudqueen - "legal tender" does not apply to ordinary transactions so someone on a till or a bus is under no obligation to accept any quantity of coins.

The strict meaning of legal tender is such that a debtor cannot be sued for non payment if that payment is made to a court in legal tender. The legal tender limit for 20p and 50p coins is £10.

[MrIncredible]

Our one at our loacal Asda's is 7%.

[jd_here]

But have you noticed that NONE of the machines actually advertise the interest rate they charge.

"I cant be arsed bagging up and waiting in a bank to change it up as its only a relatively small amount" ..... dear oh dear, how sad!

[barney15c]

"I cant be arsed bagging up and waiting in a bank to change it up as its only a relatively small amount" ..... dear oh dear, how sad!

If it was a big bottle of change and the interest rate meant i would be losing £10 + for the priveledge of changing it up then yes i would bag it up... we are talking 50p or slightly more. the cost of the petrol alone to my bank would be more plus i cant make it there during opening hours due to work...Asdas is a 2 min drive. For the sake of 50p its worth it to 'me' maybe not to you. I would probably do this once or twice a year so its not going to cast me into poverty.

[boxtops]

We save our small change, bag it up and take it to the building society, who will accept up to 5 bags in one transaction. It mounts up - and you get interest, not charged, for doing it.

[poke11122]

Error yes they advertise. If you press the start button it will tell you the rate they deduct and give you the option of cancelling the transaction if your not happy. 7% is the normal for coinstar machines found in asda stores. If you take the ticket to customer service desk they will give you the cash equivalent. You don't have to spend it on shopping