Banks and counting coins
Sir, – A piggy bank is the universal symbol for savings and is often portrayed by the banks in promotions. I encourage my grandchildren to save and often point out that I continue to save by emptying my pockets of change each night. When it comes to banking their (and my) savings, there does not appear to be any bank which operates a coin counting service. They merely supply plastic bags and send you off to separate and count your own coins. What lack of service.
In Australia, most banks have a coin counter which separates and counts their clients’ change and supplies a receipt which, when presented to the cashier, is stamped and the sum is deposited to your bank account. Why is this service not provided here?
The Central Bank exhorts us not to hoard coins and to keep as many as possible in circulation. Coin-counters are available in supermarkets but these machines deduct a commission of approximately 10 per cent. Not as much as a payday loan, but usury just the same. Surely it is not too much to ask for the banks to have a coin-counter available in at least local banks for savers. I am sure business clients would also appreciate the facility. – Yours, etc,
Dún Laoghaire, Co Dublin.