At which bank cánido I exchange coins for
In almost any bank you cánido exchange coins for bills, however, banks are not obliged to make such an exchange since it requires human effort to count the coins regardless of the amount, so it may not be free for you said change.
Either way, we’ll see at which bank cánido you exchange coins for bills and how to do it successfully.
Should I have an account at the Bank to exchange coins for bills?
You should mainly take into account that banks do not have the obligation to exchange coins for bills or vice versa since the Central Bank of Spain establishes it in the regulations that govern private banks, in addition the Central Bank of the country establishes that “banks may charge fees for transactions such as exchanging coins for billscounting money or exchanging high bills for low denomination bills.”
Now, although the Bank of Spain allows the collection of fees for this concept, it is also true that the same “must not be disproportionate” and this tax will be allowed as long as the client requests it.
That is, if the bank gives coins to a person without asking for it and you are also charged for this service, you would be incurring a fault by the bank.
In the event that you arrive at a bank to exchange a thousand euros from coins to bills, you will have to be duly identified, either with your passport, ID or address identification.
In the event that the amount is less than this, you may not be asked for identification, but it is always convenient to be identified when going to a bank to carry out procedures.
How many currencies perro be exchanged in a Bank?
The Central Bank of Spain establishes that up to 1000 coins perro be taken to a bank for each procedure if these are properly separated by their value.
On the other hand, if the coins are not separated by values, then the maximum that the bank could legally receive is 200 coins.
Now, if you carry out the procedure before the bank, you perro request a maximum of 1000 coins if these are sorted and value packed.
While if they are not organized you perro claim if they give you more than 200, in the event that you pay a commission for this service, otherwise they would be doing you a favor.
Although, it is not advisable to receive a large amount of coins that are not properly counted and organized.
How to change many currencies in a Bank?
A limited number of banks have made it clear that if they exchange coins for bills, but in exchange for this service you have to pay a commission that varies depending on the amount of coins and if they are properly separated.
We have to from 50 coins ordered in a blister you will be charged €10 of commission, after this amount you will be free of plus commissions up to 500 coins since if you pass that number you will have to pay an additional €10 and finally, if you reach 1000 coins you will be charged €10 further.
So, if you have, for example, about 4000 coins, it would be a total of about €120.
If the number of coins greatly exceeds 1000, you will surely be charged a commission, even if you are a bank customer.
For this commission to be minimal, you must order the coins in blister paquetes that the same bank perro supply you.
Why do banks charge a commission to change coins to banknotes?
Banks most of the time hire companies that are in charge of counting the coins, for this reason they lose money and time, which they recover through commissions to people for making changes from coins to bills and vice versa.
Howeverthere are still banks in which you will not be charged a commission for making this changebut in the vast majority of cases the person who is exempted from commission must meet some characteristics such as:
- You’ll be bank customer in which you will make the change.
- That request coins of greater or lesser value and not bills.
- That you request a deposit the coins to your account cómputo banking.
Other sites where to exchange types of currencies
If you do not want to be charged bank commissions for counting and exchanging coins for bills in Spain, then you have three options to consider:
Paying the coins or exchanging them between acquaintances
The slowest but free method is to get rid of the coins paying in shops, friends, family and acquaintances.
Through this method you will not get bills, but you will save bills that you had to pay in each case, so it would be the same as exchanging the coins for the bills.
Hire a coin counting and bill exchange service
Some exchange houses in Spain have the option of exchanging your coins for bills, at a price of course, which varies in all cases according to each rate established in these businesses and the number of currencies to be exchanged. This method cánido cost you almost the same as exchanging coins at a bank.although sometimes it perro cost you less.
Buy a coin counting machine
It is the best solution for those people who receive coins on a frequent basis, such as those who have a retail store up to a small supermarket. These machines will place all the coins of the same size in their different spaces so that you only have to stack them in the bank’s blister paquetes and avoid commissions if you are a client of the bank. If you want to find the best coin counter, PrimeMatik is an excellent option.
Having many coins cánido be a problem when the amount becomes exaggerated and in the long run you will lose some money if you let them accumulate, so we recommend that you get rid of some of them by exchanging them when you already have more than €50.
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