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Are banks obliged to accept coins regardless of condition?

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  • 01-10-2014 2:45pm
    #1
    Spirogyra
    Closed Accounts Posts: 1,184 ✭✭✭


    Hi have a bag of euro coins that are badly damaged, they were in a wet area for a number of years. Are the bank obliged to accept them regardless of condition?.

    Thanks

    Sarah :)


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    #2
    padair
    Registered Users Posts: 1,318 ✭✭✭padair


    Spirogyra wrote: »
    Hi have a bag of euro coins that are badly damaged, they were in a wet area for a number of years. Are the bank obliged to accept them regardless of condition?.

    Thanks

    Sarah :)

    I think so. Just make sure they have been counted and are in the correct little baggies


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    #3
    Tesco TripleChicken
    Registered Users Posts: 164 ✭✭Tesco TripleChicken


    If the coins are not easily identifiable then they probably don't have to take them.


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    #4
    28064212
    Registered Users Posts: 10,632 ✭✭✭✭28064212


    They aren't obliged to take them even if they're in perfect condition (unless it's in settlement of an pre-existing debt, and they are only required to accept a maximum of 50 coins in that case).

    The Central Bank of Ireland will accept damaged coins (subject to some conditions, and a handling fee)

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    #5
    coylemj
    Registered Users Posts: 25,437 ✭✭✭✭coylemj


    Being wet or in a wet area doesn't affect coins, they're manufactured to resist most abuse that gets thrown at them. Exactly how are they damaged - were they exposed to corrosive chemicals? You say that they're 'badly damaged' - are they physically distorted or corroded?

    As already stated, a bank doesn't have to accept more than 50 coins in a single transaction and that's if you are paying back a debt, in any other circumstances they can refuse shiny brand new coins at their discretion and in any event, most branches nowadays restrict the days of the week when you can lodge coins.


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    #6
    D3PO
    Registered Users Posts: 7,879 ✭✭✭D3PO


    ive never seen a bank offical look at coins being despoited. they weigh the bags and thats it. So unless the damage has impacted the weight then i dont see any issue outside of their willingness to accept coin in general.


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    #7
    homer911
    Registered Users Posts: 5,119 ✭✭✭homer911


    You could always soak them in a combination of salt and vinegar - tends to get a nice shine on bronze coins as well as shifting the dirt..


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    #8
    daUbiq
    Registered Users Posts: 420 ✭✭daUbiq


    They are not obliged to take anything off you if they don't want to!


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    #9
    Miaireland
    Registered Users Posts: 4,065 ✭✭✭Miaireland


    Get a can/bottle of coke a cola and soak them in that. That shoudl remove any grim etc on them. Once the bank are able to identify the coins there should be no issue. However if they a physically damaged or corroded you may have to take them to the Central Bank.


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