Cashing in coins

sharkey 25

Hi all

I'm heading to the euros next month and want to cash in some coins I have for spending money. I've started counting the and judging by how much I've counted so far I would say there will be well over €1000. Do banks mind if I go over the amount that should be in each bag? I will be going to my own bank and plan on lodging it there. I presume there will be issue with this?

Thanks in advance

Spocker

You'll need to bag the coins correctly; i.e. if its a bag of €2 coins that is only supposed to have €20 in it, then make sure it only has 10 coins.

Most banks charge to lodge coin (see here for AIB BOI and PTSB). Many banks will only take coin lodgement on specific days/times, you should ring you branch to check.

An alternative (that I would not recommend) is the coin counting machines you see in supermarkets, the rate/charge can be up to 12.5% (thats €125 of your €1000!)

Mrs OBumble

A better alternative is your local pub: provided you're not talking coppers, they would quite likely take bulk change off you, because it saves them paying the bank for it.

sharkey 25

Spocker wrote: »

You'll need to bag the coins correctly; i.e. if its a bag of €2 coins that is only supposed to have €20 in it, then make sure it only has 10 coins.

Most banks charge to lodge coin (see here for AIB BOI and PTSB). Many banks will only take coin lodgement on specific days/times, you should ring you branch to check.

An alternative (that I would not recommend) is the coin counting machines you see in supermarkets, the rate/charge can be up to 12.5% (thats €125 of your €1000!)

Thanks for that. Yeah I had thought about using one of those machines but feck that charge.

I'll check which one is cheaper I suppose.

tuisginideach

Mrs OBumble wrote: »

A better alternative is your local pub: provided you're not talking coppers, they would quite likely take bulk change off you, because it saves them paying the bank for it.

But would they have scales to weigh them to check? Our local Post Office takes mine (would never have anywhere near €1000 though, more like €100).

Jan Laco

sharkey 25 wrote: »

Thanks for that. Yeah I had thought about using one of those machines but feck that charge.

I'll check which one is cheaper I suppose.

I lodged e500+ coins in BOI and wasn't charged. Make sure to bag them properly.
The amount of old 2 penny coins masquerading as 5c!

mahoganygas

Credit union will do it for free.

Mrs OBumble

tuisginideach wrote: »

But would they have scales to weigh them to check? Our local Post Office takes mine (would never have anywhere near €1000 though, more like €100).

Yes. Unless you are in an extreme backwater, in which case, try a pub(s) in a larger town.

poppers

Mrs OBumble wrote: »

A better alternative is your local pub: provided you're not talking coppers, they would quite likely take bulk change off you, because it saves them paying the bank for it.

I would agree with this. Or any local shop would take the coins as the bank charges them for both lodging and getting coins from them.

mcgoveb

I now live in the Netherlands and the banks there have really big coin counting machines. You just pour your coins into the machine, put in your bank card and the machine adds the total to your account. They charge 0.25% for the transaction. I changed almost 500 euro in coins all mixed denominations.
So surprised at what's happening in Ireland, someone posted 10% for shops to do it and only certain days in Irish banks. You would think in current circumstances the banks would be delighted to get these coins back in so they can sell them to businesses.

tphase

poppers wrote: »

I would agree with this. Or any local shop would take the coins as the bank charges them for both lodging and getting coins from them.

i bring my bagged change to the local butcher who weighs them to check they're correct

Mint Sauce

Banks have never charged me, alternatively I have gone to my local Centra/Mace after pretty arranging with the Manager.

CIARAN_BOYLE

Mint Sauce wrote: »

Banks have never charged me, alternatively I have gone to my local Centra/Mace after pretty arranging with the Manager.

I believe most banks don't charge personal customers if bagged correctly. Companies are a different kettle of fish.