Looking to get rid of spare change

[JameliaD45]

Over the years I have been collecting spare change (e.g. 1p, 2p, 5p, 10p and 20p) and have acumulted a sum of £1,241.59 exactly, after counting it the other day. You can imagine my suprise, however, it makes sence, because I do over use the self service machines at the shops. Anyway, my question was wether I would be able to cash all this money in at the bank or wether I would have to take it in small installments. Does anyone have some expertise on the matter?

'convenience worth the 7%' (or more...)

yep, it's an excellent business model. I take my hat off to whoever thought of it, and also worked out that there doesn't have to be a sign on the machine giving the charges.

7% of £1241 is £86 so definitely worth taking it to the bank.

If their time is more valuable than the 7-10% commission, fine. That's their choice. bugger that for a way to run a small business...

But what if their time is more valuable? I 'run a small business' and my time is charged out per hour. So I do think if things in terms of 'that's x hours of work I won't be doing', such as paying £35 for Ikea delivery rather than making a 5-hour round trip.

But for £86 I'd take it to the bank!

That is gobsmacking - people pay to have their money swapped into more convenient denominations?

What a business!

I just use it at the self service. Better the ones you chuck the money in rather than put them in one by one. Then pay the remainder on card.