5cent, 10 cent, 20cent – The best place to deposit your coins

if you’re a lazy ass like me who just doesn’t want to due with asking people to change with you.

I wanna bank in 228 coins (72 50cent, 36 20cents, 110 10cents, 10 5cents) = $65.5

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I have a small piggy bank

Currently I have 5 Options to choose from:

  1. Posb/Dbs – Charges $0.012 per coin (Cost : $ 2.74)
  2. Singapore Mint – Charges $3.75 for every 1,000 coins (Cost : $3.75)
  3. OCBC – Charges $1.50 for every 100 coins (Cost : $4.5)
  4. Citibank – Charges $5 for total coin value below $200 (Cost : $5)
  5. Standard Chartered – Charges $5 for total coin value between $20-$100 (Cost : $5)
  6. UOB – Free for the first 199 piece/ Subsequent $1 for every 200 pieces (Waived for junior account holder) – Courtesy from Kj 🙂

As you can see the cheaper option for me now is to bank it in through Posb/Dbs [As i do not have a UOB account] with a total cost of $.274. Due to the little amount of coins I have, it makes no sense for me to be depositing through Singapore Mint (even though it is the cheapest) as i will charged the full amount of 1,000 coins ($3.75).

I need to get a new piggy bank for the 1,000 coin:(

+1 knowledge point

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8 thoughts on “5cent, 10 cent, 20cent – The best place to deposit your coins

  1. Actually the cheapest option on the market is UOB.

    The charge is “free for first 199 pieces, S$1 for every subsequent 200 pieces or part thereof”. Hence you would only be charged $1 for your 228 coins, instead of $2.74 by OCBC/DBS.

    (Of course, that means you will have to have an UOB savings account, so I guess you don’t have one…? haha)

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  2. Just bring the coins to any hawker stalls or shops, they will change it. And if you are lucky, the stalls will throw in a bowl of noodles or whatever they sell.

    Like

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