3 ways to… cash in spare change
Brits have almost £343 million in loose change scattered around their homes, according to a study by lock and security specialists Yale. So why not raid the coin jar, check your pockets and start using it?
1 Out and about
Keep a small stash of loose change in your handbag and offload coins a few at a time when you’re shopping. Sadly you can’t shift large amounts in one go – shops can refuse payments of more than 20p with pennies or tuppences, more than £5 paid with 5ps or 10ps, and more than £10 paid with 20ps and 50ps.
2 Bank it
Some high-street banks have coin machines
that will allow you to pay in your change without having to sort it first. If they don’t, you can still deposit the change into your account at the counter, providing the coins are sorted into the correct money bags.
3 Swap it
If it’s not easy for you to convert your coins at a bank, you can use one of more than 1,900 Coinstar machines, based in supermarkets around the UK. They let you turn your loose change into vouchers redeemable for cash or shopping at the checkout. However, be aware they typically charge 9.9% commission, and fees may vary according to location.