Thursday, August 25, 2011

What To Do With Your Coins?

Due to the recent news about The Third Series of Malaysian Coins, my parents handed a huge bag of coins to my brother, asking my brother to exchange with cash! Because they worried the existing coins might not be acceptable after the new third series Malaysian coins which will be available in circulation early next year. A huge bag of coins come out to be a few hundred ringgits! 

Do you also have a lot of coins accumulated for years? Perhaps it's time to take them out and so something about it. Here are a few suggestions:

1) Bank-in the coins
I thought I can just walk in to the bank and exchange my coins with bank notes. But, it's not that easy. I need to have a saving account with the bank. I will need to leave the coins with the bank officer. They will calculate it when they are free and bank-in to my bank account. Some bank officer will call to inform the amount before bank-in, but some didn't. For my case, they took 3 working days before bank-in to my bank account. And the officer didn't call me. I am not so sure how much actually the coins as I didn't calculate it before handed over to the officer. Well, just have to trust them.

2) Exchange with business operator
They are quite a number of business operator who will need coins - supermarkets, grocery shops, school canteen operator... in short, any business who has a payment counter will need these coins. Just make sure you calculate the coins before send to them.

3) As a gift for your kids
I am sure your kids will be super happy if you top-up their piggy bank with your coins.

4) Bring them along when you do your shopping
You will make the life of the cashier easier if you give them coins every time you go shopping. I meant if your shopping is RM40.95, the cashier will be happy if you  handed her RM50.95. This makes her job easier. Keep coins in a small purse so that you can practice more often.

Hmmm.. other that the above, any more suggestions? Feel free to add on...

7 comments:

  1. at last resort even some forgot to turn the old coins in, Bank Negara will still gracefully accept them.

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  2. Hi Michael, Really? That's great to know. Thanks for the sharing :)

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  3. I always change with hawker stalls in one of the coffee shops. They love coins so much! It is very effective, you no need to go to the bank at all.

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  4. Hi ChampDog, that's great to know. My brother's friend, a grocery shop owner also needs coins and some times asking my brother to exchange for the coins. And thanks for dropping by.

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  5. Just throw all change in your back pocket and try to spend it as quickly as possible. During the work day, I just throw it into my bag or if I'm at my desk, I just put it into a cup and then transfer to my bag when I have a chance.

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  6. still have it??

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    Replies
    1. Hi, yes, we still have some...

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