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Pocket Change

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cneil
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Pocket Change

Postby cneil » Sat, 17 Mar 2007 1:33 pm

I have a habit of saving pocket change. At the end the day I usually just throw my spare coins into a stand by my nightstand. When I lived in the states, I would turn this money in after a year or two and have about $100 that I could spend any way that I wanted.

I've lived in Singapore for about two years now and I have quite a bit of change stored up. Unfortunately, I have found out that many Singapore banks charge a percentage fee for handling coins. Is there a way that I can get this change converted to dollars without paying a hefty fee?
Thanks for your help.

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sundaymorningstaple
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Postby sundaymorningstaple » Sat, 17 Mar 2007 1:54 pm

I do the same thing only for me I only save 50¢ & $1 coins. After 3 years it cost me around $8 at POSB to exchange them for notes. ($2200 that time). Right now after around 2 years I think I'm up to around $1200 in coins. Will wait until the little spittoon shaped double boiler fills up again before cashing it in.

At POSB if you are depositing it into a childs savers account I believe it's no charges at all.

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Wind In My Hair
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Postby Wind In My Hair » Sat, 17 Mar 2007 6:37 pm

I had the same difficult getting coins converted to notes, and I put aside about $100 a month in coins so want to change it quick as it gets heavy. My darling mum found a hawker in the wet market nearby who needs small change for her trade, so now we simply pass the bag to her and she returns the equivalent in notes. Not as crisp as the banks' but hey, cash is cash. So you could ask the people you buy things from if they would be interested in such an arrangement.

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Postby sundaymorningstaple » Sat, 17 Mar 2007 11:07 pm

Just don't try it with a Paul Masson Wine Carafe full of 1cent coins! Been sitting in my house for damn near 10 years now! Even the bank won't take 'em! :mad:

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Postby Wind In My Hair » Sun, 18 Mar 2007 12:21 am

1c coins? Helloooooo SMS, we're in the 21st century. :P

Seriously, even the hawker lady won't take 5c coins, let alone 1c.

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Loops
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Postby Loops » Sun, 18 Mar 2007 1:16 am

I have to pay coins into a UOB account every so often. It is free for the first 199 pieces (ie coins) and then something like $2 per 200 after that, so it isn't a great amount to have to pay (although it is still a bit of a cheek I think........afterall, they're banks, surely that's what they do!).

But anyway, at UOB you just have to put the coins into bags of the same denomination and they use the coin counting machine to count it at the bank, so it is quite straightforward.

However, they only offer the coin counting and paying in service on Tuesdays and Thursdays (9.30am-11.30am) so it is best to ring the bank you choose first and find out what their times are before you lug your hoard down there.

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Postby Matney » Sun, 18 Mar 2007 8:34 am

My daughter took her coins(over $100) worth to the DBS on a Saturday and didn't have any problems and she wasn't charged anything either. Parkway Parade branch.

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Postby germangirl » Sun, 18 Mar 2007 9:24 am

How does this work, can you go to any bank and change your coins or do you have to go to the bank you have your account with?

Thanks !
we know what we are, but know not what we may be

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Splatted
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Postby Splatted » Sun, 18 Mar 2007 10:47 am

I usually don't let the silver change accumulate past $20.

Then I order mcdonalds delivery service & pay with small change.

The delivery person has never commented or refused as yet...


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