Where To Cash Coins For Free Near Me: 8+ Best Places in the UK
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Do you want to know where to cash coins for free near you?
Saving your spare coins can be a great way to save money without much effort. However, you will inevitably end up with a jar or piggy bank full of loose change, and then you will need to find somewhere to cash your coins for free.
Most places charge a fee to convert your coins into cash, but some places let you cash your coins for free. Doing this often can save you money in the long run.
There are several places in the UK where you can cash coins for free, providing a solution to declutter and make the most of your spare change.
Let’s take a look at the options.
Quick Recap
- Some places don’t charge a fee, saving you money. These include local banks and post offices.
- Coinstar machines are a simple option if you have a lot of coins, but they do come with a processing fee.
- You can bag your coins using free bags from your local bank, helping you to organise and save simultaneously.
- You can always get rid of your coins by spending on small items, donating to charity or using them in amusement arcades.
Coin Limits in Shops
It is good to know that you can’t pay for all your shopping using your collected coins. There are limits and laws based on The British Coinage Act (1971):
- 1p and 2p coins can only be used to pay for goods up to a maximum of 20p
- 5p and 10p coins can only be used to pay for goods up to a maximum of £5
- 20p and 50p coins can only be used to pay for goods up to a maximum of £10
- £1 and £2 coins can be used for any amount
Places to Cash Coins For Free
If you would rather use your coins instead of converting them into cash, give the following options a try.
Keep In The Car
Keeping coins is a good habit to get into and saves you from unexpected situations that arise, such as toll booths, parking meters, or drive-through services. They can also be used for car washes or small purchases like snacks, coffee or vending machines.
You will be prepared for these situations without fumbling around searching for coins at the last minute.
Spend On Cheap Items
You can use your coins to spend on cheap items at the supermarket, such as sweets, drinks and any grab-and-go items. Coins are also great when using the self-service checkout machines.
Donate to Charity
When out and about, there are plenty of opportunities to donate to charity with collection boxes in most shops or public spaces.
So do some good next time you are out and get rid of your spare change simultaneously!
Amusement Arcades
If you have kids, taking a bag of coins to an amusement arcade can provide hours of fun, and you might even get lucky and win some prizes!
Coins can be used on anything from classic pinball games and arcade-style simulations to jackpot skill-based challenges.
Use in the Post Office
Coins are also useful in the post office for buying smaller items such as stamps, envelopes, stationary or packing items.
Coin Machines at Local Banks
Local banks are the best place in the UK to convert your coins to cash. You will, however, need to have your coins sorted before you head into your local branch. See below for how to bag your coins properly.
However, there is another option: some local banks have coin-sorting machines. You will usually need to be a customer, so check with your local bank before making the journey.
Barclays
A few Barclays branches have a free coin deposit machine, but there are not many across the country, so check before you travel. You will need to be a customer to use these machines as well.
HSBC
Similar to Barclays, only a few HSBC branches have coin counting machines. So always check with your local branch before making the journey.
Natwest
Natwest has a Bulk Coin In machine to pay in coins. You don’t need to count the coins beforehand, as the machine does it for you. You’ll receive a voucher to pay in at the counter. Check with your nearest branch to see if it has a Bulk Coin In machine.
Metro Bank
Metro Bank has a free coin machine that anyone can use, even if you’re not a customer. Every branch has a ‘Money Magic Machine’ that counts your coins.
The machines are aimed at kids, and Metro has created a special ‘Magic Money 5 for 5 Club’. If your child is under 15 and has a Young Savers account with Metro Bank, they can earn a £5 bonus using the Magic Money Machine to add money to their account over five months. Find more details here.
Post Office
Most banks also allow you to pay at your local Post Office, which can be handy if your local bank branch is further away. You can pay in coins at the post office, but the maximum amount varies depending on the branch, so check with your local post office.
How to Bag Your Coins
Bagging coins is a relatively easy process.
Start by sorting your coins into their respective denominations, separating £2, £1, 50p, 20p, 10p, 5p, 2p and 1p coins.
Then head to your local bank and ask for some money bags. They are available for free from most banks. Just ensure they match the coin denominations of the quantities you have.
Carefully fill each bag with the correct number of coins, following the guidelines on the bad. Seal the bags securely using the self-sealing tape on the bags.
Label each bag with essential information, including your account number and the total value of the coins enclosed. Then organise the sealed bags for deposit, grouping them by denomination or securing them in a container for transport.
Then, finally, take the labelled and organised money bags to your local bank for deposit.
Coinstar Coin Counting Machines
What is Coinstar?
Coinstar is a company that operates a network of self-service machines that allow customers to convert loose coins into cash or a donation to charity. The machines are often found in supermarkets or other retail locations.
UK charity options include BBC Children in Need, British Heart Foundation, British Red Cross, Cancer Research, Diabetes UK, The Children’s Society, Unicef and the World Wildlife Fund (WWF).
How to Find Coinstar Machines
You can type ‘coinstar machine’ into Google Maps, and it will show you your closest locations, or you can visit the Coinstar website and use their locator to find your closest machine. I found ten within 5 miles of my location, so you should be able to find a few near you!
How Much Does Coinstar Charge?
Coinstar charges a fee to use their machines. This is a 25p transaction fee, a 10.9% processing fee for cash transactions, and an 8.9% fee for charity donations. Fees can vary by location.
This fee is worth paying if you have a large amount of coins that would take a while to sort yourself.
How Does Coinstar Work?
Here is how the Coinstar process typically works:
- Find your closest Coinstar using the locator on their website.
- Choose to get cash or donate to a charity.
- Remove dirt and any other objects from your coins.
- Put your coins into the machine.
- Slide the coins into the machine as it starts to count using the metal tray.
- Check the return tray for rejected coins, and give them one more try, just in case.
- If you choose cash, you will receive a voucher to redeem at the cashier.
Frequently Asked Questions (FAQs) About Where To Cash Coins For Free
Below are common questions and answers about where to cash coins for free.
Where can I cash in coins for free?
You can cash coins for free at most local banks and some post offices. The best banks for this service are Metro Bank and Natwest, which have coin counting machines in most branches. Other banks like Santander, HSBC and Barclays don’t always have a coin counting machine in their branches, and you will need to deposit the coins at the counter using money bags.
Do all banks cash coins for free?
Most banks in the UK will cash coins for free, but this service does depend on the branch, and if you have an account with the bank, always check before you travel.
Where can I find a free coin counting machine?
Free coin counting machines are available at all Metro Bank branches and most Natwest branches. Some other banks also have coin counting machines, but not in all of their branches, so it is best to call your local branch to check.
Are coin sorting and counting machines accurate?
Yes, most coin sorting machines are accurate. However, some may have a small margin of error if they are not maintained well.
Are there any alternatives to Coinstar for cashing in coins?
Yes, there are alternatives to Coinstar for cashing in coins. These include going to a bank or post office. Many banks have free coin counting machines and will exchange your coins for free. Always check with your local branch before travelling.
How much does Coinstar take out of £100?
Coinstar charges a fee of 10.9% plus a 25p transaction fee to use their machines. So, if you cash in £100 worth of coins, Coinstar would take £10.90 + 25p for a total of £11.15, leaving you with £88.85 in cash. The fee is lower at 8.9% if you are donating to charity.
Does Sainsbury’s or Tesco have a free coin exchange service?
Supermarkets don’t have a free coin counter or exchange service, but a few Sainsbury’s and Tesco locations have Coinstar coin counter machines.
Are there any free coin deposit options at Metro Bank?
Metro Bank is probably your best option for a free coin counting machine and deposits in the UK. They have a free Magic Money Machine in every branch. Always call your local branch and check before travelling.
How To Find Free Coin Counting Machines Near You – Final Thoughts
I hope this guide helps you on how to cash your coins for free.
Finding free coin counting machines near you can help you sort and organise your coins whilst helping you save more money at the same time.
Local banks, particularly Metro Bank and Natwest, are the best places to cash your coins in the UK. Post offices and other bank branches are good options if you don’t need a coin counting machine.
Always remember to call your local bank branch before making the trip to cash your coins in, as not all branches will have a coin counting machine or a free coin cashing service.
Let me know in the comments below if you cash in your coins regularly and what service you use.
