Nationwide has issued a crucial update for customers who carry coins. The bank, which has branches in Birmingham, has shed light on its stance on customers paying coins into accounts.
Customer Inquiry Sparks Response
Contacting AskNationwide on X, a social media user wrote: "Hi I'd like to pay in various coins. Do I need to book that in and how should they be packaged? Thanks." In response, AskNationwide replied: "Hi there, you can find out more about depositing coins here."
Coin Deposit Guidelines
You can deposit full bags of either: £1 or £2 coins to the value of £20, 50p or 20p coins to the value of £10, 10p or 5p coins to the value of £5, or 2p or 1p coins to the value of £1. Nationwide says: "You can deposit any amount of full bags into your account. We just ask that you separate the coins into full bags that contain only one type of coin."
Large Deposits and Loose Coins
If you have a large number of coins to deposit, please call your local branch first to see if they are able to accept them. If you're depositing a small amount of loose coins, you can pay these in at a Nationwide branch. If you have a large number of loose coins, we can give you bags to separate these into. When you're ready, we'll be happy to help you at your local branch.
Business Deposits and Branch Discretion
It adds: "We do not accept any coins from businesses or trade. Whilst we'll try to accept any cash you want to deposit, it's at the discretion of our branches to either accept or refuse coins." It continues: "You can pay bags of coins into your Nationwide current account or savings account at any of our branches. Here's how we'll need them organised." The amount of cash you can pay in at any Nationwide branch counter is £5,000 per account, per day.
