Coin exchange in Tesco- rip off

Chiparus

Brought the bedside jar of coins to Tesco, where they have a coin machine. It said quite clearly exchange the "full value against tesco shopping" however they took 9% ( 10 euro) and refused to exchange the full value against my shopping bill.

Is there anything I can do?

kippy

Chiparus wrote: »

Brought the bedside jar of coins to Tesco, where they have a coin machine. It said quite clearly exchange the "full value against tesco shopping" however they took 9% ( 10 euro) and refused to exchange the full value against my shopping bill.

Is there anything I can do?

9.5% is the standard fee I have seen on these machines in other places. (Usually advertised on the machine)
Don't use them, absolute rip off in general.
Theres more efficient ways of cashing in the change.

Dublin_Gunner

kippy wrote: »

9.5% is the standard fee I have seen on these machines in other places. (Usually advertised on the machine)
Don't use them, absolute rip off in general.
Theres more efficient ways of cashing in the change.

Like use it in the self service checkout

Doyler92

Dublin_Gunner wrote: »

Like use it in the self service checkout

True or like myself, your local corner shop is usually hapy with change. The only thing is you would have to bag it yourself but still worth the saving of 9%.

wmpdd3

Use the self scans to spend you change, just lob it all in after you've put through your items. It usually gives back €2 coins for anything you've over paid.

maxer68

Chiparus wrote: »

Brought the bedside jar of coins to Tesco, where they have a coin machine. It said quite clearly exchange the "full value against tesco shopping" however they took 9% ( 10 euro) and refused to exchange the full value against my shopping bill.

Is there anything I can do?

Plenty of areas where tesco try and rip customers off (especially on special offers which don't appear on receipts) but this isn't one of them.

Its very clearly marked on these machines that a commission rate is applied.

Tesco (Centra, Super Valu, Spar, Londis etc etc) rent the space to the operators of the machine and provide the voucher encashment service for which they probably charge a fee. Full value of the voucher is given by Tesco with no further encashment fee.


I agree it is written in a way that some people could think that 100% of the coins value is given, but a second look would tell you otherwise.


In the USA & Canada, the fees are higher - Fee for coin counting when exchanging for cash = 9.8 cents per dollar counted in USA; 11.9 cents per dollar counted in Canada.

And the main company that runs these machines is only worth $1.5bn!!!! and had a net profit last year of $71million. - Ticker = CSTR Cooinstar Inc, if you want to buy shares in it

keithclancy

Chiparus wrote: »

Brought the bedside jar of coins to Tesco, where they have a coin machine. It said quite clearly exchange the "full value against tesco shopping" however they took 9% ( 10 euro) and refused to exchange the full value against my shopping bill.

Is there anything I can do?

If it states this on the machine then they should honor the agreement, I'd take a picture and sent it to Tesco head office.

If they don't offer this deal then they should not advertise it as you have used the service under the agreement you get the full value against your shopping.

However I would assume you would also have to spend the full value against your shopping otherwise you could just use it, present your receipt and buy a pack of gum to change an unlimited amount of cash.

Techno_Toaster

In my local Tesco they charge the 9% too but exchange the voucher for cash or off shopping no problem so it must be something to do with your local store. Talk to a manager or email tesco.

Solair

You can buy a Euro coin sorter for about €15 quid if you really have piles of change.

Go into any decent bank branch, particularly ones that deal with a lot of commercial cash, and they'll give you bags.

Load bags + bring to branch, they weigh them and will lodge to your account.

Chiparus

keithclancy wrote: »

If it states this on the machine then they should honor the agreement, I'd take a picture and sent it to Tesco head office.

If they don't offer this deal then they should not advertise it as you have used the service under the agreement you get the full value against your shopping.

However I would assume you would also have to spend the full value against your shopping otherwise you could just use it, present your receipt and buy a pack of gum to change an unlimited amount of cash.

I complained to the manager who said "full value" referred to the full value of the voucher.

wmpdd3

Techno_Toaster wrote: »

In my local Tesco they charge the 9% too but exchange the voucher for cash or off shopping no problem so it must be something to do with your local store. Talk to a manager or email tesco.

No its the exact same sign but the OP is not reading it as the full face value of the voucher, but the full value of the coin he/she put in the machine.

Chiparus

Yes, the options are posted on the outside of the machine:

"Exchange for cash at the Customer Service Desk"
or
"Redeem the full value against your shopping at any tesco store."

To me it seemed they would charge a commission if you opted for cash but nothing if you opted to use the voucher in Tescos.

I should have just brought the coins (€102 in 20 c,10c etc to the checkout).

the groutch

Chiparus wrote: »

I should have just brought the coins (€102 in 20 c,10c etc to the checkout).

except they legally only have to take 50 for a transaction (EC 974/98)

Max Power1

the groutch wrote: »

except they legally only have to take 50 for a transaction (EC 974/98)

I wonder does the self scan checkouts stop taking after 50

Pablo Sanchez

Max Power1 wrote: »

I wonder does the self scan checkouts stop taking after 50

It will take whatever you have, assuming your willing to endure the angry eyes of the people in the Q behind you......just do your shopping at 3am and your golden:D

wmpdd3

Max Power1 wrote: »

I wonder does the self scan checkouts stop taking after 50

Yep it only seems to stop accepting coins if you have loads of bronze money, it will take loads of other coin, atleast up to €50.

zero19

Dublin_Gunner wrote: »

Like use it in the self service checkout

I broke one of those in Tesco Galway one night, i was hammering about 100 1cent coins into it along with various other change

ComaWhite

wmpdd3 wrote: »

Yep it only seems to stop accepting coins if you have loads of bronze money, it will take loads of other coin, atleast up to €50.

If you put too much coinage into the machine, the coin slot can jam up completely, especially in the evenings when the coin collection bin is already nearly full. I worked these tills for four years and have seen it happen many many times. It's a huge pain to restart and get back on track again.

wmpdd3

The new ones are a bit stronger, they dont hold coin, they give back what customers put in.