What to do with coins collected by kiddos

With rising costs and increased learning needs, financing our children's education is no longer a simple walk in the park. Discuss with other parents about how they are managing their finances to cope with their expenses.

What to do with coins collected by kiddos

Postby angel » Thu Aug 30, 2012 9:07 am

I have 2 large tins, full of coins, collected since kiddo started formal school last year. And I found out we need to pay $1-2 for every 100 coins deposited with POSB. And if I am not mistaken, OCBC does not accept coins over counters too.

What should I do with the coins? It is filling up and will continue as long as kiddo brings loose change back from his daily allowances.

Kindly advice.

Thank you very much! :lol: :lol:

angel
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Re: What to do with coins collected by kiddos

Postby iLoveChubby » Thu Aug 30, 2012 9:26 am

Hi angel
If i m not wrong, POSB does not charge any service charge if the coins are deposited into the kids' POSB savings a/c.

iLoveChubby
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Re: What to do with coins collected by kiddos

Postby peapot » Thu Aug 30, 2012 11:44 pm

That's correct! After the coins are deposited into the machine, you will receive a receipt. Throw the receipt into quick cheque deposit box. Once the cheques are cleared the next day, the staff will update their system based on yr receipt. No penalty will be imposed.

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Re: What to do with coins collected by kiddos

Postby peapot » Thu Aug 30, 2012 11:47 pm

My child has Posb and OCBC a/c, so i m familiar. For OCBC, you deposit the coins over the counter and your kid must have a children's a/c with the bank and no charges will be imposed.

peapot
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Re: What to do with coins collected by kiddos

Postby verykiasu2010 » Fri Aug 31, 2012 12:07 am

can deposit it with me. i don't impose service charge :evil: :evil: :rotflmao: :rotflmao:
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Re: What to do with coins collected by kiddos

Postby Mychildren » Fri Aug 31, 2012 12:58 pm

angel wrote:I have 2 large tins, full of coins, collected since kiddo started formal school last year. And I found out we need to pay $1-2 for every 100 coins deposited with POSB. And if I am not mistaken, OCBC does not accept coins over counters too.

What should I do with the coins? It is filling up and will continue as long as kiddo brings loose change back from his daily allowances.

Kindly advice.

Thank you very much! :lol: :lol:


You can exchange the coins with your own dollar note & help them deposit the $$ into bank. This coins can be slowly eat up when u used them yourself for marketing etc. I did it this way. :wink:

verykiasu2010,
rainman/shower man your mouth big enough for all these coins to be deposited anot??? :rotflmao:
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Re: What to do with coins collected by kiddos

Postby shopaholic » Sun Sep 02, 2012 7:12 pm

I exchanged their coins with my dollar notes so that I can deposit them into their bank acct once it hits $100. As for the coins, I recycle for the kids' use as they take coins/small notes from a box for their daily allowance.

shopaholic
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Re: What to do with coins collected by kiddos

Postby mumzmummy » Sat Nov 24, 2012 1:29 am

posb has those coin deposit machines where you can just dump all the coins in. don't even have sort your coins according to denomination as the machine takes from 1 cent all the way to 1 dollar. Plus no service fee. Of course you must have a account with dbs or posb lah..

http://www.posb.com.sg/personal/others/ ... fault.page

mumzmummy
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Re: What to do with coins collected by kiddos

Postby HAPPYH » Sat Nov 24, 2012 9:00 am

verykiasu2010 wrote:can deposit it with me. i don't impose service charge :evil: :evil: :rotflmao: :rotflmao:


:rotflmao:

HAPPYH
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Re: What to do with coins collected by kiddos

Postby straffan23 » Mon Dec 03, 2012 5:05 pm

Buy a gift for someone special? Donate it to to charity? It's meaningful, and teaches them something along the way... Imagine their spare change can actually make some other people really happy?

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