Singapore Expats

Which bank offers coin exchange

Events and gatherings for the 40's Club
Post Reply
User avatar
sundaymorningstaple
Moderator
Moderator
Posts: 40356
Joined: Thu, 11 Nov 2004 1:26 pm
Answers: 21
Location: Retired on the Little Red Dot

Re: Which bank offers coin exchange

Post by sundaymorningstaple » Wed, 30 Dec 2020 2:29 am

POSB-but there is a charge for the quantity of coins sorted
SOME PEOPLE TRY TO TURN BACK THEIR ODOMETERS. NOT ME. I WANT PEOPLE TO KNOW WHY I LOOK THIS WAY. I'VE TRAVELED A LONG WAY, AND SOME OF THE ROADS WEREN'T PAVED. ~ Will Rogers

therat
Editor
Editor
Posts: 1011
Joined: Thu, 04 Sep 2008 2:23 pm
Answers: 2

Re: Which bank offers coin exchange

Post by therat » Wed, 30 Dec 2020 11:32 am

POSBkids Account - below 16 yrs old.
1st 1000 pcs fee wavier
1001 pcs onward - charge

Another way is .. exchange with shop owner.

User avatar
PNGMK
Moderator
Moderator
Posts: 9074
Joined: Thu, 21 Mar 2013 9:06 pm
Answers: 10
Location: Sinkapore

Re: Which bank offers coin exchange

Post by PNGMK » Wed, 30 Dec 2020 6:01 pm

My son deposits his at DBS free of charge.
I not lawyer/teacher/CPA.
You've been arrested? Law Society of Singapore can provide referrals.
You want an International School job? School website or http://www.ISS.edu
Your rugrat needs a School? Avoid for profit schools
You need Tax advice? Ask a CPA
You ran away without doing NS? Shame on you!

User avatar
malcontent
Manager
Manager
Posts: 2604
Joined: Sat, 22 Dec 2007 11:52 am
Answers: 8
Location: Pulau Ujong

Re: Which bank offers coin exchange

Post by malcontent » Wed, 30 Dec 2020 6:38 pm

Yes, the best way to convert coins to cash without incurring fees is using the coin deposit machine into a kids account at DBS/POSB. Used to be unlimited, now it’s limited to 1,000 pieces free per month.

My daughter has thousands of dollars in her account from coin deposits - in fact that is all we have ever deposited in there!
Every great and deep difficulty bears in itself its own solution. It forces us to change our thinking in order to find it - Niels Bohr

User avatar
sundaymorningstaple
Moderator
Moderator
Posts: 40356
Joined: Thu, 11 Nov 2004 1:26 pm
Answers: 21
Location: Retired on the Little Red Dot

Re: Which bank offers coin exchange

Post by sundaymorningstaple » Thu, 31 Dec 2020 11:06 am

I used to do the same until they both got married and bought their own homes. :-/
SOME PEOPLE TRY TO TURN BACK THEIR ODOMETERS. NOT ME. I WANT PEOPLE TO KNOW WHY I LOOK THIS WAY. I'VE TRAVELED A LONG WAY, AND SOME OF THE ROADS WEREN'T PAVED. ~ Will Rogers

therat
Editor
Editor
Posts: 1011
Joined: Thu, 04 Sep 2008 2:23 pm
Answers: 2

Re: Which bank offers coin exchange

Post by therat » Thu, 31 Dec 2020 1:10 pm

how abt grandchild :)

User avatar
sundaymorningstaple
Moderator
Moderator
Posts: 40356
Joined: Thu, 11 Nov 2004 1:26 pm
Answers: 21
Location: Retired on the Little Red Dot

Re: Which bank offers coin exchange

Post by sundaymorningstaple » Thu, 31 Dec 2020 6:44 pm

My problem is I quit smoking 16 years ago and 13 years ago I went on a diet which meant I started takin3g my lunch to work. No way to accumulate the $3 or $4 dollars every day in change. Now sometimes I don't even break a tenner in a week. Especially since I retired. Guess their parents gonna have to practice it. :lol:
SOME PEOPLE TRY TO TURN BACK THEIR ODOMETERS. NOT ME. I WANT PEOPLE TO KNOW WHY I LOOK THIS WAY. I'VE TRAVELED A LONG WAY, AND SOME OF THE ROADS WEREN'T PAVED. ~ Will Rogers

User avatar
malcontent
Manager
Manager
Posts: 2604
Joined: Sat, 22 Dec 2007 11:52 am
Answers: 8
Location: Pulau Ujong

Re: Which bank offers coin exchange

Post by malcontent » Thu, 31 Dec 2020 9:52 pm

I’ve gone pretty much cashless except at the hawker centre.

I use Citi SMRT visa for the groceries, fast food and public transport, StanChart Unlimited for everything else except on rare occasions when I gas up the wife’s car - for that I use the DBS Esso card which doubles as an ATM card. For low spenders like me, this 3 card system seems to give me the most value.
Every great and deep difficulty bears in itself its own solution. It forces us to change our thinking in order to find it - Niels Bohr

User avatar
abbby
Manager
Manager
Posts: 1972
Joined: Thu, 21 Jul 2005 3:00 am
Answers: 2
Location: Tiny Island

Re: Which bank offers coin exchange

Post by abbby » Sun, 03 Jan 2021 7:47 pm

therat wrote:
Wed, 30 Dec 2020 11:32 am
POSBkids Account - below 16 yrs old.
1st 1000 pcs fee wavier
1001 pcs onward - charge

Another way is .. exchange with shop owner.
Yes, i use posb as well, they have a few coin deposit machines in Singapore. It's quite useful and they accept mixes of denominations.
The secret of life is honesty and fair dealing. If you can fake that, you've got it made. - Groucho Marx (1890-1977)

User avatar
rajagainstthemachine
Manager
Manager
Posts: 2871
Joined: Sat, 24 Nov 2012 10:45 am
Location: Singapore

Re: Which bank offers coin exchange

Post by rajagainstthemachine » Fri, 25 Aug 2023 2:58 pm

POSB machines - Boon Lay MRT is the only i know about.
To get there early is on time and showing up on time is late

x9200
Moderator
Moderator
Posts: 10073
Joined: Mon, 07 Sep 2009 4:06 pm
Location: Singapore

Re: Which bank offers coin exchange

Post by x9200 » Fri, 25 Aug 2023 8:22 pm

Seems OCBC also has coin deposits
https://www.ocbc.com/personal-banking/c ... lter=cwncd
(scroll down close to the bottom)

I guess the banks that offer accounts for kids may have it.

Lisafuller
Governor
Governor
Posts: 6211
Joined: Sat, 07 Nov 2020 11:45 pm
Answers: 3

Re: Which bank offers coin exchange

Post by Lisafuller » Sat, 26 Aug 2023 1:51 pm

therat wrote:
Wed, 30 Dec 2020 11:32 am
POSBkids Account - below 16 yrs old.
1st 1000 pcs fee wavier
1001 pcs onward - charge

Another way is .. exchange with shop owner.
This is what I do, most of the time they appreciate the small change.

Lisafuller
Governor
Governor
Posts: 6211
Joined: Sat, 07 Nov 2020 11:45 pm
Answers: 3

Re: Which bank offers coin exchange

Post by Lisafuller » Sat, 26 Aug 2023 1:52 pm

x9200 wrote:
Fri, 25 Aug 2023 8:22 pm
Seems OCBC also has coin deposits
https://www.ocbc.com/personal-banking/c ... lter=cwncd
(scroll down close to the bottom)

I guess the banks that offer accounts for kids may have it.
If we really think about it, it doesn't make any sense for them to only offer the service to kids. I mean, it is sensible to think that children are more likely to save in small amounts, but if you are an adult that tends to go cashless, you wouldn't want to carry around a bunch of coins.

x9200
Moderator
Moderator
Posts: 10073
Joined: Mon, 07 Sep 2009 4:06 pm
Location: Singapore

Re: Which bank offers coin exchange

Post by x9200 » Sun, 27 Aug 2023 7:53 am

Lisafuller wrote:
Sat, 26 Aug 2023 1:52 pm
x9200 wrote:
Fri, 25 Aug 2023 8:22 pm
Seems OCBC also has coin deposits
https://www.ocbc.com/personal-banking/c ... lter=cwncd
(scroll down close to the bottom)

I guess the banks that offer accounts for kids may have it.
If we really think about it, it doesn't make any sense for them to only offer the service to kids. I mean, it is sensible to think that children are more likely to save in small amounts, but if you are an adult that tends to go cashless, you wouldn't want to carry around a bunch of coins.
I am not sure what other social or profession groups still operate with some coined cash? Coffee shops? I mean sufficient amount to justify maintaining such machines.
Not saying it is all for the kids, but I would expect is one of the reason such services still exists. Another reason could be, that even if the use of coins is now pretty marginal, still it is sufficient in terms of the volume to justify having the machine as opposed to a clerk staff handling it.

Lisafuller
Governor
Governor
Posts: 6211
Joined: Sat, 07 Nov 2020 11:45 pm
Answers: 3

Re: Which bank offers coin exchange

Post by Lisafuller » Sun, 27 Aug 2023 12:16 pm

If we didn't need coins for shopping carts and the occasional vending machine, I'd never carry them around.

Post Reply
  • Similar Topics
    Replies
    Views
    Last post

Return to “40s' Club”

Who is online

Users browsing this forum: No registered users and 16 guests