What do you with those coins lying around?

It takes very little to make me happy and today it has to be the discovery that there are now self-service coin deposit machines for DBS and POSB!! I have been using the cash deposit machine on occasions and these days with online banking, I thankfully have reduced my trips to the banks because I really hate the thought of queues and such. But my Dad, though curious about online banking, still goes to the bank to update his savings book and also for other transactions. So when I told him about the coin deposit atm machine, his reply was 'Yeah, at the right hand side of all the atm machines' with a tone that really meant to say 'where have you been all this while' *grins* I was also surprised to see lots of people carrying bags of coins to drop it in and I knew I had to find out more about this cuz I know somebody who keeps his loose change and we spent about an hour yesterday manually counting the coins to figure out how much he has (and we were pleasantly surprised by how much he has managed to accumulate!)

I know the banks had certain days where they would accept coins and I think they use to charge a nominal fee or something? I could be wrong. But with this coin deposit machine, it's so cool. What a great way to teach kids (and adults like me who are so assumed by lil things like this) - bring their savings and let them put it into the slot and wait for the machine to count the money and it goes straight to his/her savings account.

Alrighty, back to the coin deposit machine. A little more about it. All you need is your account number to get started. Simply follow the screen messages on the coin deposit machine and pour your coins into the hopper tray of the machine. What's more, there is no need to sort your coins according to denomination as the machine can accept a mixture of denomination of 1 cent, 5 cents, 10 cents, 20 cents, 50 cents and 1 dollar (Singapore coins, floral series only). After counting, a receipt will be generated from the machine and your account will be credited latest by the next business day. Yay!!! For those of us who are visual learners, you can see how the steps are here and for those of you who need to press them buttons and figure it out, head down to them machines the next time you have coins to deposit. If you have other questions, check out their FAQ site.

If you want to know where the machines are, well, there are 30 coin deposit atm machines located around the island so head there soon!

Hmmm...just went to the FAQ site and there's a lil catch here. Coin deposits through the coin deposit machine are levied fees based on $0.0075 (0.75 cents) per piece, and total charges rounded off to the nearest 1 cent. Coin deposit fees will be waived for deposits into Children's accounts (age 12 years and below). To enjoy this waiver, you will need to drop the coin deposit receipt in our Quick Cheque Deposit box. Refunds will be processed by the next business day (Mon-Fri). So might want to take note ya!