A Bank That Doesn't Accept Large Quantities Of Cash??
Discussion
Just popped down to Halifax to pay my quarterly shrapnel savings in - roughly around £250 in all denominations from £1 to 1p, all properly counted and bagged to whole figures. Now I know it's a fair old sum in small change, and it's probably a pain for the clerk to sort it - but they have cash counters and scales to make the job easy - all they have to do is book it in, weigh it and store it.
I was rather surprised when the clerk behind the counter informed me that as it wasn't a business account I was paying into, I could only deposit 5 small plastic cash bags a day - and not per account either - 5 a day only, across all accounts. Apparently it was brought in a few months ago, and the clerk claimed they couldn't fit all the cash in the safe - this I found especially hard to believe and told the clerk my thoughts on that particular detail. I was going to go across to NatWest and try there, but according to the clerk all banks and the post office work on the same system.
So now i'm stuck with a shedload of cash that is bloody hard to spend or put into my account, and I haven't got the time to go down there every weekday for the next month paying 5 bags in a day. I've never felt particularly safe carrying 4 big, heavy, red cloth cash bags along the high street, so I only try to do this once every so often - hence the quarterly paying in.
I suppose i'll have to pile it into one of those shrapnel changing machines at the supermarket - but that'll take a cut of the money as a fee for changing it.
Can anyone actually give me a reasonable explanation of why I cannot pay my money into my account? I find it an utterly ridiculous rule, which must inconvenience quite a few people who save their small change in the same way.
I was rather surprised when the clerk behind the counter informed me that as it wasn't a business account I was paying into, I could only deposit 5 small plastic cash bags a day - and not per account either - 5 a day only, across all accounts. Apparently it was brought in a few months ago, and the clerk claimed they couldn't fit all the cash in the safe - this I found especially hard to believe and told the clerk my thoughts on that particular detail. I was going to go across to NatWest and try there, but according to the clerk all banks and the post office work on the same system.
So now i'm stuck with a shedload of cash that is bloody hard to spend or put into my account, and I haven't got the time to go down there every weekday for the next month paying 5 bags in a day. I've never felt particularly safe carrying 4 big, heavy, red cloth cash bags along the high street, so I only try to do this once every so often - hence the quarterly paying in.
I suppose i'll have to pile it into one of those shrapnel changing machines at the supermarket - but that'll take a cut of the money as a fee for changing it.
Can anyone actually give me a reasonable explanation of why I cannot pay my money into my account? I find it an utterly ridiculous rule, which must inconvenience quite a few people who save their small change in the same way.
Try another bank. Don't take the minimum wage mouth breather's word for it.
Yes, it costs banks to process coin, but they recycle most of it. There is no reason they cannot accept the coin. If you had a business account would their 'safe'* suddenly grow bigger?
Yes, it costs banks to process coin, but they recycle most of it. There is no reason they cannot accept the coin. If you had a business account would their 'safe'* suddenly grow bigger?
- All banks have a room for cash, known as a vault. They do not have safes, except for their own use - keys to the branch, codes, etc.
Nationwide do the same thing, bloody annoying. My Natwest has one of those machines like in Tesco but they don't take a cut for counting it. In fact you only have to put your debit card in and pour the coins in so don't have to get quizzed about your mortgage by one of the girls behind the counter whilst paying in!
And to whoever said pay by a debit card, try that at my local newsagent, the drinks guy by the tube station etc, etc.
And to whoever said pay by a debit card, try that at my local newsagent, the drinks guy by the tube station etc, etc.
Tyre Smoke said:
Try another bank. Don't take the minimum wage mouth breather's word for it.
Yes, it costs banks to process coin, but they recycle most of it. There is no reason they cannot accept the coin. If you had a business account would their 'safe'* suddenly grow bigger?
This is exactly the argument I had with the clerk as soon as he said 'the safe is too small'. I asked what would happen if every customer that day brought in 5 bags of coin - 'well we would accept it'. Yes, it costs banks to process coin, but they recycle most of it. There is no reason they cannot accept the coin. If you had a business account would their 'safe'* suddenly grow bigger?
- All banks have a room for cash, known as a vault. They do not have safes, except for their own use - keys to the branch, codes, etc.
As for paying by card in order to have less shrapnel, great idea. Except for one thing - much of my small change comes from cashing up my takings from work at the end of the week, the small change and any extra that I have is saved. Bloody hard to spend it via card if I can't get the stuff into the account in the first place.
GTO Scott said:
I was going to go across to NatWest and try there, but according to the clerk all banks and the post office work on the same system.
I'm surprised at that, I did just what you say with HSBC about 6 months ago. In fact, I filled the machine up once (not on my own, obviously) and it only took them 5 minutes to take the bags out the back and put new, empty ones in.GTO Scott said:
Except for one thing - much of my small change comes from cashing up my takings from work at the end of the week, the small change and any extra that I have is saved. Bloody hard to spend it via card if I can't get the stuff into the account in the first place.
Pay it into the business account - no limits then as per your OPMost supermarket self serve tills have a nice bucket thingy that counts coins now. So next shop, truck on up with your coins and sling them in. Job done. I imagine these days £250 is going to get burnt up on a few shopping trips pretty quickly. Get some ales on special and a couple of oil packs for the car to help the process 
JPJPJP said:
Pay it into the business account - no limits then as per your OP
If it were my business account (and my business) I would.Problem solved anyway - i've managed to swap it for notes with a friend who works for a firm I used to work for. Wouldn't like to see the face of the back office staff when they realise the auto-counter is full to the brim of copper and small silver though
GTO Scott said:
I suppose i'll have to pile it into one of those shrapnel changing machines at the supermarket - but that'll take a cut of the money as a fee for changing it.
It's what I do. They charge 7.5% which is £18.75 on £250, well worth it IMO as counting and bagging £250 of shrapnel and pissing about at the bank takes ages and is a horrible job. Having already done the worst bit I can understand your irritation but at least you'll know for the future.
mattley said:
It's what I do. They charge 7.5% which is £18.75 on £250, well worth it IMO as counting and bagging £250 of shrapnel and pissing about at the bank takes ages and is a horrible job.
Having already done the worst bit I can understand your irritation but at least you'll know for the future.
I think he is talking about the self serve tills.Having already done the worst bit I can understand your irritation but at least you'll know for the future.
Morrisons is especially good as you can over pay with loads of coppers etc and it will give you change in pound coins etc
Phunk said:
I think he is talking about the self serve tills.
Morrisons is especially good as you can over pay with loads of coppers etc and it will give you change in pound coins etc
When I've accumulated too much I use the self service tills at Tesco when I buy my lunch - I do keep an eye out for a time when there aren't many people as they don't particularly enjoy waiting for someone to feed it with several hundred pennies - the tills also highlight the number of fake £1 coins there are, when they spit them out.Morrisons is especially good as you can over pay with loads of coppers etc and it will give you change in pound coins etc
t, two people in front of me in the local Natwest paying in about £250 in changes - 5ps, 1ps, etc. yesterday.Gassing Station | Finance | Top of Page | What's New | My Stuff