Tesco Ireland - Coin Changing

E30i

Has anybody used one of the Coin Changing machines in Tesco Ireland Stores. They charge a commission of about 9.6% for getting the cash value. However the machine instructions outline that you can 'Redeem the full value against your shopping at any Tesco store'.

I recently changed coins to the value of €117.06 (Penny Jar)in one of these machines. This gave a cash value of €106.06 after commission. I fully understand the commission structure leading to this cash value.
However I understood from the instructions on the machine that I had 2 options
1) Redeem the full value against your shoping at any Tesco Store
or
2) Exchange for cash at the Customer Service Desk.

Given the use of the word 'full' in option 1 (and repeated on the voucher I received) I had the expectation that I could use the €117.06 value against my shopping. However in Tesco Wexford this morning the manager insisted that this is incorrect and that whether I choose cash or to redeem against my shopping the only value on my voucher is €106.06.

Anyone else find this misleading or have the same experience? I rang the machine operators but only got a recorded message. I have now e-mailed both Tesco Ireland and the machine operators to clarify the position and outline why the term 'Full Value' means the coin value less commission rather than the full coin value which I think is a reasonable assumption.

I'd welcome any thoughts/experiences

petethebrick

No, by 'full value' they just mean the value after the commission has been deducted.

Random

I'd have assumed "redeem the full value" ment they weren't taking commission but would really need to see a photo of the machine to see exactly how it was advertised. Do you have one? Can you get one?

calex71

I be happier counting the coins my self and taking them to the bank than give them a 10er. Dont they have to pay the bank for change ?

Also i dont think them machines handle 1c and 2c coins very well and thats all i ever seem to have spare lol

dxhound2005

http://archives.tcm.ie/irishpost/2004/07/27/story797.asp

This story is from 2004 but I think the situation is the same now. Spend your small change (its easy) and dont hoard it and you wont have to worry about paying someone to count it.

Thoie

E30i wrote: »

1) Redeem the full value against your shoping at any Tesco Store
or
2) Exchange for cash at the Customer Service Desk.

I'd have read that as "redeem the full value of the voucher" (which has already subtracted the commission).

I'd also take it to mean that if I have a voucher for €100, but the shopping comes to €70, then I won't get change.

Davy

E30i wrote: »

1) Redeem the full value against your shoping at any Tesco Store
or
2) Exchange for cash at the Customer Service Desk.

I would think the same as the OP, it does suggest that when you read it. You could also say the word 'full' means that you can use the value against the shopping but you wont get any change, but thats just ridiculous!

It should just say:
Exchange for cash at the customer service desk or use the value against your shopping at any till.


The best thing is to try avoid using these machines. Something like This Coin Sorter is quite cheap, and will sort the coins and give you an amount so you can easily bag them to bring to your bank. It also doesn't require counting a big amount of coins all at one time. Also makes tesco's money robbing ones obsolete

Del2005

E30i wrote: »

Has anybody used one of the Coin Changing machines in Tesco Ireland Stores. They charge a commission of about 9.6% for getting the cash value. However the machine instructions outline that you can 'Redeem the full value against your shopping at any Tesco store'.

I recently changed coins to the value of €117.06 (Penny Jar)in one of these machines. This gave a cash value of €106.06 after commission. I fully understand the commission structure leading to this cash value.
However I understood from the instructions on the machine that I had 2 options
1) Redeem the full value against your shoping at any Tesco Store
or
2) Exchange for cash at the Customer Service Desk.

Given the use of the word 'full' in option 1 (and repeated on the voucher I received) I had the expectation that I could use the €117.06 value against my shopping. However in Tesco Wexford this morning the manager insisted that this is incorrect and that whether I choose cash or to redeem against my shopping the only value on my voucher is €106.06.

Anyone else find this misleading or have the same experience? I rang the machine operators but only got a recorded message. I have now e-mailed both Tesco Ireland and the machine operators to clarify the position and outline why the term 'Full Value' means the coin value less commission rather than the full coin value which I think is a reasonable assumption.

I'd welcome any thoughts/experiences

So you think coin counting machine supplier is a charity? They have a big sign saying we charge ~10% commission, yet you still expect them to give you full amount of money you put in. AFAIK it's the full value of the voucher you get not the money you put in. You are paying a large premium for the convenience of not counting your money.

Tesco has nothing to do with these machines. They rent the space out to the supplier and have an agreement to accept vouchers from the machines, but they don't empty them or maintain them. So why should they loose €11 because you didn't correctly read or understand the T&C's on the coin counting machine. If you where unsure as to how much you'd get back you should have called the supplier before use not after.

If you want to get the full value for your money count and bag it yourself, then go to a bank or most large supermarkets and they'll give you full value.

After a quick google I found the Coinstar site which explains there fee.

Coinstar's patented self-service kiosk is easy and fun to use. Just pour in your jar of mixed coins and watch them add up. The Coinstar Centre accurately counts up to 600 coins per minute, saving you the time and effort of sorting, rolling and taking them to the bank. When you cash in, you'll get a voucher to redeem for cash at the store checkout or apply to your purchases. Check your voucher for special promotions or sweepstakes that Coinstar may be offering. In the UK, the fee for our coin counting service is 7.9 pence per pound counted. In Ireland the fee is 9.4 cents per Euro.

Davy

Del2005 wrote: »

Tesco has nothing to do with these machines.

My local one is heavily branded with tesco all over it. Their was a machine in the same place prior to the current one which had nothing relating to tesco on it. I'd say Tesco a good chance to make a cut, hence the new machine thats now branded.

Del2005

Davy wrote: »

My local one is heavily branded with tesco all over it. Their was a machine in the same place prior to the current one which had nothing relating to tesco on it. I'd say Tesco a good chance to make a cut, hence the new machine thats now branded.

They may have Tesco branding, but they are all Coinstar. I'm sure Tesco are getting a cut and rent, but they don't own or operate them. And I'd hazard a guess that if you went to Coinstar and asked to place an add on any of the machines you could.

Random

@Dell2005
I don't think the OPs problem is with the commission - it's more with the misleading wording that's being used.

Davy

Del2005 wrote: »

They may have Tesco branding, but they are all Coinstar. I'm sure Tesco are getting a cut and rent, but they don't own or operate them. And I'd hazard a guess that if you went to Coinstar and asked to place an add on any of the machines you could.

Ye, so tesco are probably getting a cut. So in response to your first post, the OP understand that coinstar are not a charity, and he stated that he was willing to pay the 10% but the way its done that you can use the voucher in tesco, they are benefiting from you using the machine where you may not have spent teh money in-store. Tesco should be paying coin star the commission in the cases where you use the voucher in the store.

Ste.phen

I thought you were supposed to be able to get the full amount (i.e. no commission) if you spent the voucher in Tesco itself, but were charged the commission if you wanted cash?

E30i

Del2005 wrote: »

So you think coin counting machine supplier is a charity? They have a big sign saying we charge ~10% commission, yet you still expect them to give you full amount of money you put in. AFAIK it's the full value of the voucher you get not the money you put in. You are paying a large premium for the convenience of not counting your money.

Tesco has nothing to do with these machines. They rent the space out to the supplier and have an agreement to accept vouchers from the machines, but they don't empty them or maintain them. So why should they loose €11 because you didn't correctly read or understand the T&C's on the coin counting machine. If you where unsure as to how much you'd get back you should have called the supplier before use not after.

If you want to get the full value for your money count and bag it yourself, then go to a bank or most large supermarkets and they'll give you full value.

After a quick google I found the Coinstar site which explains there fee.

To be clear I understood that this is a commercial venture and that the operators are there to make a profit, however the description of the service and the value for the coins I feel is misleading. My interpration based on the description given is that if you choose to be paid in cash you pay commission but if you use the voucher against your shopping you receive the Full value of the coins you have deposited as a credit against your shopping.

This is not a charity, it is an incentive for you to spend the money in a Tesco store and therefore I could see how this benefited Tesco, I did not expect something for nothing and I would not have used this machine if I knew that 'full value' did not mean that you received the value of the coins less commission against your shopping bill.

Therefore I could understand why there could be a difference between the 'cash value' and the 'credit against your shopping value' and I feel the descriptions given give the impression there is a difference.

parsi

I think those machines are crap.

I believe we should all bag our coins and drop them to the bank or our local (who famously told me one day -we'll change your coins and you don't have to buy a drink).

I think folk who use these machines and pay a commission are wasting money.

However in this case I see that the OP decided to use the machine to his benefit and get the full value of his money at the local Tesco because that's what was advertised.

I think the OP is right to feel aggrieved that he had to pay a commission either way seeing as the options were given as " Do x _OR_ do Y". If the end result is the same then the OP wasn't given a choice.

(for he/his replace with she/her if required...)

allthedoyles

Contact these guys and see what they have to say :

http://www.asai.ie/index.asp

Because I have seen the ads in tesco and my understanding was that you get the full amount in cash /.

parsi

allthedoyles wrote: »

Contact these guys and see what they have to say :

http://www.asai.ie/index.asp

Because I have seen the ads in tesco and my understanding was that you get the full amount in cash.

Waste of time.

Not a stautory body and they don't have any power except to lightly tap advertisers on their wrsits...

Ste.phen

When I'm emptying my change jar I tend to dump the coppers into one of those machines and count the rest myself, not worth the time needed to count out bags of 1c coins, but for the 10c coins it probably is

delllat

why not just give your coins to the cashier and make her count them ?

why give a machine 10% ?

if you must use a machine use the automatic checkout and put the coins in that,it will count them for free!

Ste.phen

What if I don't want to spend hundreds of euro in small change in tesco?
i try to avoid spending any money in tesco these days, with the price increases and whatnot

ArmaniJeanss

Del2005 wrote: »

In the UK, the fee for our coin counting service is 7.9 pence per pound counted. In Ireland the fee is 9.4 cents per Euro.

Any good reason why its 7.9% in the UK, and 9.4% in Ireland?
I rarely scream 'rip-off', but the difference in commission charge seems a little strange.

ShooterSF

delllat wrote: »

why not just give your coins to the cashier and make her count them ?

why give a machine 10% ?

if you must use a machine use the automatic checkout and put the coins in that,it will count them for free!

+100 If you are going to spend it in tesco anyway why change it in that machine? Get the cashier to count it.

Davy

ShooterSF wrote: »

+100 If you are going to spend it in tesco anyway why change it in that machine? Get the cashier to count it.

Awaits on 'Why do people pay for shopping with small change' thread :P

Welease

ShooterSF wrote: »

+100 If you are going to spend it in tesco anyway why change it in that machine? Get the cashier to count it.

IIRC its only legal tender up to 50 coins.. they can refuse to accept more than that....

ShooterSF

Welease wrote: »

IIRC its only legal tender up to 50 coins.. they can refuse to accept more than that....

Surely that can't be true! Can it? I agree it'd be annoying but I'd still do it ahead of giving a machine 10%.

Then again I don't build up a bulk of change.

delllat

Welease wrote: »

IIRC its only legal tender up to 50 coins.. they can refuse to accept more than that....

well if you spend 50 coins every time youre not going to accumulate them :rolleyes:

Welease

ShooterSF wrote: »

Surely that can't be true! Can it? I agree it'd be annoying but I'd still do it ahead of giving a machine 10%.

Then again I don't build up a bulk of change.

http://www.irelandinformationguide.com/Legal_tender#Legal_tender_in_the_Republic_of_Ireland

Legal tender in the Republic of Ireland

According to the Economic and Monetary Union Act, 1998 of the Republic of Ireland which replaced the legal tender provisions that had been re-enacted in Irish legislation from previous British enactments, No person, other than the Central Bank of Ireland and such persons as may be designated by the Minister by order, shall be obliged to accept more than 50 coins denominated in euro or in cent in any single transaction.

rubadub

E30i wrote: »

However I understood from the instructions on the machine that I had 2 options
1) Redeem the full value against your shoping at any Tesco Store
or
2) Exchange for cash at the Customer Service Desk.

I think it is deliberately misleading. I have NO doubt that this issue has come up in every single tesco store. And because of this they should have massive signs to make sure people know it is the case.

Del2005 wrote: »

So you think coin counting machine supplier is a charity? They have a big sign saying we charge ~10% commission, yet you still expect them to give you full amount of money you put in.

Not on the one I saw, I had to look all over the place before I found a tiny notice with the %, and I also thought it was going to be full value of coins on the voucher. It also might not be "charity" if they did give full value, AFAIK banks can charge more than the monetary value for coins. In the 80's I remember mc donalds giving free burgers, and superquinn giving free donuts out, you brought in £5 in small change and got a £5 note and free food.

E30i wrote: »

My interpration based on the description given is that if you choose to be paid in cash you pay commission but if you use the voucher against your shopping you receive the Full value of the coins you have deposited as a credit against your shopping.

Same here. I thought the machines were tesco owned, or at least had a relationship with them. e.g. they might give you a €100 tesco voucher and then tesco pay the machine owners 5% of the €100, knowing they are "forcing" people to buy in tescos and so will get that money back.

It is blatantly obvious that this assumption would be made, therefore I do think it is an intentional scam. I remember when I found out it was this scam I told people and they were all saying "sure WTF would you want a tesco voucher instead of cash?" esp. if the other poster was correct and you had to use all the voucher, like tescos clubcard vouchers (e.g. I have €35 vouchers from clubcards, you must spend over €35, you get no change.)

What supermarkets should do is have coin bins like the toll bridges do, you just dump fistfulls into the bin at checkout and it counts it up there on the spot. I mentioned that they should give out shop vouchers in another thread ages ago before these tesco machines came in. It was still fresh in my mind and I presumed tesco had done this, like they wanted coins in the 80's.

MORE importantly the central bank should be offering this service for free. Most coins cost more to produce than they are worth, e.g. a 50cent coin might cost €1 to make. The central bank pays a fortune minting new coins because of hoarders. These machines would cost a few grand and save the taxpayer millions if people had a convenient free way to count hoarded coins. No doubt it is the taxpayer that has to foot the bill for new minted coins.

These supermarket machines must only cost a few grand yet people are paying probably €10-50 just for a 1 minute go on them, crazy when you think about it. Many arcade machines probably cost more, and you get a 5minute go for a euro.

delllat

rubadub wrote: »

I think it is deliberately misleading. I have NO doubt that this issue has come up in every single tesco store. And because of this they should have massive signs to make sure people know it is the case.


Not on the one I saw, I had to look all over the place before I found a tiny notice with the %, and I also thought it was going to be full value of coins on the voucher. It also might not be "charity" if they did give full value, AFAIK banks can charge more than the monetary value for coins. In the 80's I remember mc donalds giving free burgers, and superquinn giving free donuts out, you brought in £5 in small change and got a £5 note and free food.


Same here. I thought the machines were tesco owned, or at least had a relationship with them. e.g. they might give you a €100 tesco voucher and then tesco pay the machine owners 5% of the €100, knowing they are "forcing" people to buy in tescos and so will get that money back.

It is blatantly obvious that this assumption would be made, therefore I do think it is an intentional scam. I remember when I found out it was this scam I told people and they were all saying "sure WTF would you want a tesco voucher instead of cash?" esp. if the other poster was correct and you had to use all the voucher, like tescos clubcard vouchers (e.g. I have €35 vouchers from clubcards, you must spend over €35, you get no change.)

What supermarkets should do is have coin bins like the toll bridges do, you just dump fistfulls into the bin at checkout and it counts it up there on the spot. I mentioned that they should give out shop vouchers in another thread ages ago before these tesco machines came in. It was still fresh in my mind and I presumed tesco had done this, like they wanted coins in the 80's.

MORE importantly the central bank should be offering this service for free. Most coins cost more to produce than they are worth, e.g. a 50cent coin might cost €1 to make. The central bank pays a fortune minting new coins because of hoarders. These machines would cost a few grand and save the taxpayer millions if people had a convenient free way to count hoarded coins. No doubt it is the taxpayer that has to foot the bill for new minted coins.

These supermarket machines must only cost a few grand yet people are paying probably €10-50 just for a 1 minute go on them, crazy when you think about it. Many arcade machines probably cost more, and you get a 5minute go for a euro.

yeah but you have to remember on average a coin doesnt just get used once ,
A coin that cost 1euro to make will change hands many times in its lifetime and be involved in god knows how many transactions so its nont a single use item

coins like notes cant be too simply made becasue they would be open to forgery so thats why they 1 and 2 euro are made of two difernt metals

E30i

Thanks for all helpful Comments/Contributions. I just wanted to update everyone on progress. I e-mailed both the machine operators and Tesco outlining my comment/complaint and asking them to clarify the meaning of the term 'Full value'.

I received the following reply very promptly this morning;



Dear XXXXX,

Thank you for bringing this to our attention.

The term 'full value' refers to the voucher value as Tesco are unable to give change on the transaction.

If you can send me your address I will have a cheque sent to you to cover the processing fee.

I apologise for any inconvenience that this has caused you and I hope that this is a satisfactory outcome.

Best regards,

XXXXXXXXXXXXX
_____________________
XXXXX, Coinstar Ltd.
www.coinstar.co.uk


I have e-mailed back and suggested that they make the instructions less ambigious on the machine as it is clearly open to intrepretation. Anyway if you are thinking of using these machines in the future you can make a decision based on the information above.

rubadub

delllat wrote: »

yeah but you have to remember on average a coin doesnt just get used once ,
A coin that cost 1euro to make will change hands many times in its lifetime and be involved in god knows how many transactions so its nont a single use item

Yes, but they still have to buy loads to make up for the hoarded ones, it was in the paper a while ago they had to buy them in from sweden or someplace, costing millions. They would have been better off paying people €1.10 per €1 worth of hoarded coins! the central bank & government make no attempt to intice people to part with their hoarded coins. A few of these machines in the central bank would save millions. They should also force banks to offer free coin counting machines for this reasons to, christ knows the bastard banks owe the public at least that.