Why Banks Refuse Foreign Coins — And How We Solve That

If you’ve ever tried to deposit foreign coins or small-denomination notes at a UK bank, you’ve probably been told: “Sorry, we don’t accept those.” This can be frustrating — especially if you’ve just returned from holiday with pockets full of euros, dollars, or other currencies.

But why do banks refuse foreign coins? And more importantly, what can you do with them instead? At Cash4Coins, we provide the solution that banks don’t — turning unwanted coins and notes into real spendable money.

Why Banks Don’t Accept Foreign Coins

Banks are highly selective about the types of currency they’ll handle. While they may exchange foreign banknotes(euros, dollars, etc.) at some branches, almost none will accept coins. Here’s why:

1. High Processing Costs

Coins are heavy, bulky, and expensive to transport. For banks, the cost of moving them to a foreign exchange partner often outweighs the small value of the coins themselves.

2. Sorting & Identification Issues

Foreign coins come in hundreds of shapes, sizes, and denominations. Banks don’t have the time or equipment to separate them, especially when many coins look similar but have different values.

3. Limited Demand

Most foreign exchange is done electronically or via banknotes. There’s very little demand for loose coins in international banking systems.

4. Regulatory Barriers

Some coins are demonetised (withdrawn from circulation) or no longer legal tender. Banks avoid the risk of handling them by refusing everything outright.

What About UK Coins?

Even UK-issued coins can sometimes be rejected by banks:

• Old £1 coins (round pounds) — withdrawn in 2017.

• Pre-decimal coins — farthings, shillings, sixpences, etc.

• Damaged coins — bent, broken, or defaced coins are often refused.

So whether you’re dealing with leftover euros, US quarters, or a jar of old shillings, your bank is unlikely to help.

The Cash4Coins Solution

At Cash4Coins, we specialise in what banks reject. Our service is designed to make it easy, fast, and secure to exchange coins and notes that would otherwise sit useless in a drawer.

We Accept Everything

• All world coins and banknotes

• Old, demonetised, and pre-decimal UK currency

• Damaged or rusty coins

• Mixed bags — no need to separate

Simple Process

• Post your coins or arrange a free collection (for large volumes).

• We sort, count, and value everything.

• Receive payment directly into your bank account.

Transparent and Secure

• Full audit trail and reporting.

• HMRC compliant.

• Used by charities, retailers, and individuals across the UK.

Comparison Table: Banks vs. Cash4Coins

Factor	Banks	Cash4Coins
Foreign Banknotes	Sometimes accepted (limited branches).	Accepted (all denominations, even damaged).
Foreign Coins	❌ Not accepted.	✅ Accepted, sorted, and paid out.
Old £1 Coins	❌ Not accepted.	✅ Accepted.
Pre-Decimal Coins	❌ Not accepted.	✅ Accepted.
Damaged Coins/Notes	❌ Not accepted.	✅ Accepted.
Convenience	Limited service, long queues.	Post or collection, fast payment.

FAQs: Why Banks Refuse Foreign Coins

Q: Do any UK banks accept foreign coins?

A: No, banks refuse all foreign coins. Some accept foreign banknotes, but coins are almost never exchanged.

Q: Can I deposit old UK £1 coins at the bank?

A: The round pound was withdrawn in 2017, and banks are often reluctant to take them.

Q: Do banks accept damaged coins?

A: In most cases, no. They may accept very minor damage, but anything bent, rusted, or defaced is usually rejected.

Q: Why do banks accept foreign banknotes but not coins?

A: Banknotes are lighter, easier to process, and have higher value per item. Coins are too costly to handle compared to their worth.

Q: Is Cash4Coins safe to use?

A: Yes. We are trusted by leading UK charities, retailers, and businesses. Our process is insured, compliant, and transparent.

Who Uses Our Service?

• Charities – raise funds from donated coins that banks refuse.

• Retailers – recover revenue from coins dropped into tills and self-checkouts.

• Airlines – turn passenger donations into maximum value.

• Individuals – cash in jars of holiday coins or inherited old currency.

Conclusion: Don’t Let Banks Stop You

Banks may refuse foreign coins — but that doesn’t mean your coins are worthless. With Cash4Coins, you can turn them into real money, fast.

👉 Contact us today to exchange foreign coins, old UK currency, and damaged notes that banks won’t touch.

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