Friday 7 August 2009

Money to money - at a price

I happened to notice in Tesco's one of those change counter machines. You pour in your miscellaneous coins and it counts them for you. It said on the machine, "Turn your coins into cash". Am I missing something? I always thought coins were cash already! The irony is, they charge you 7.9 pence in the pound for the privilege of having your coins counted. So it's in fact turn your cash into cash and lose 7.9% in the process!

I ought to say if you exchange your coins for goods bought in the supermarket, then you can have the full amount back you poured in. I remember someone once said that given you can buy just about anything at Tesco's, including insurance, why not have your salary paid direct to Tesco's? Then if there's anything left over at the end of the month, they can credit it to you. Seems the logical next step ...

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