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Can you deposit small denomination coins in a bank account?


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I have loads of shrapnel I've collected over the years (as do a lot of people): 1p, 2p and 5p coins. If I count and bag them myself, can I deposit them straight into my bank account?

 

I know you can change it up at the machines in a supermarket, but on principle I don't want to give them a share! Might only be small value but it's still money I've earned. A colleague told me the bank might not accept them, or might even charge... is this true??

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As far as I'm aware (provided they are bagged correctly..they will check)...And you have an account there, they will accept small change just like any other money.

 

But only complete bags in the correct denomination. Not simply a mixed bag of shrapnel.

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You can usually only deposit 4 or 5 bags of coins into a normal bank account at a time without incurring a fee, so if you bag them up and are prepared to deposit them gently over time then yes, you can put them into your bank account.

 

If you want them all to go in one visit then you probably can't without paying a fee- sorry.

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I've paid loads in at Halifax like this before and never had an issue - just be sure that the bags are counted out right! when you hand them over they just put them on a scale behind the counter to check the weight and if there's any discrepancy it has to be recounted - at which point you get huffs and puffs.

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I think if you deposit it, all correctly bagged etc and post it into the drop box inside the bank you will be ok.

If you just turn up and hand it over the counter, they won't be so pleased, especially if there's a queue

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I think if you deposit it, all correctly bagged etc and post it into the drop box inside the bank you will be ok.

If you just turn up and hand it over the counter, they won't be so pleased, especially if there's a queue

 

Eh?...A drop box outside the bank?...Are you getting confused with a night safe?...You need a key to use one of those...Other than that, there's always a letter box I suppose! (no I'm not advocating using a letter box)

 

---------- Post added 21-01-2016 at 13:43 ----------

 

Mind you, I've not actually been inside a bank in years...Never had the need so I could be talking <Removed>. :)

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