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Changing lots of coins for cash - How?

 
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raulfd4



Joined: 04 Mar 2008

PostPosted: Thu Apr 23, 2009 4:24 pm    Post subject: Changing lots of coins for cash - How? Reply with quote

I have been saving all of my coins over the past year and the collection has become pretty big. In the states we have "Coinstar" machines at banks or supermarkets where you can just dump your money in and get a receipt for cash at the cashier.

The other option at home is getting the paper rolls for wrapping coins and counting and wrapping them yourself.

What's the method in Korea? If I need to get the paper wrappers, any idea how to ask for them in Korean?
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saw6436



Joined: 16 Jan 2003
Location: Daejeon, ROK

PostPosted: Thu Apr 23, 2009 4:27 pm    Post subject: Reply with quote

Separate the coins by type and carry them to the bank. The bank will weigh your coins and give you the cash or deposit it in your account.

You will probably want to count how much you have and make a note of how much W for each type of coin. Two times I exchanged coins the bank was off by a bit (not much but enough).
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Pink Freud



Joined: 27 Jan 2003
Location: Daegu

PostPosted: Thu Apr 23, 2009 4:28 pm    Post subject: Reply with quote

Most larger banks these days have machines that sort and roll coins for customers. I wasn't sure how to use the one in mine, so a security guard showed me how. Quick and easy.
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stuey11



Joined: 13 Jun 2003
Location: Seoul

PostPosted: Thu Apr 23, 2009 6:14 pm    Post subject: ... Reply with quote

I bank with KB and in most branches they have machine with a conveyer belt that you dump all your unsorted coins in (yes! no need to sort your coins out!!), the clever machine then totals up the amount and then gives you the same amount in notes.

You need to to have a KB account i think to use it, it asks for your bank book or card before you can start.

I would guess most other banks have a similar system, if you can't speak korean then just walk into the bank waving your bags of coins around and i'm sure someone will be able to help

p.s make sure there are no small objects (i.e small pieces of paper, paper clips etc) in with the coins or the machine will jam
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raulfd4



Joined: 04 Mar 2008

PostPosted: Thu Apr 23, 2009 6:46 pm    Post subject: Reply with quote

awesome, thanks guys!
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Looney



Joined: 23 Dec 2008

PostPosted: Thu Apr 23, 2009 7:54 pm    Post subject: Re: ... Reply with quote

stuey11 wrote:
I bank with KB and in most branches they have machine with a conveyer belt that you dump all your unsorted coins in (yes! no need to sort your coins out!!), the clever machine then totals up the amount and then gives you the same amount in notes.

You need to to have a KB account i think to use it, it asks for your bank book or card before you can start.

I would guess most other banks have a similar system, if you can't speak korean then just walk into the bank waving your bags of coins around and i'm sure someone will be able to help

p.s make sure there are no small objects (i.e small pieces of paper, paper clips etc) in with the coins or the machine will jam


Do KEB or SC have this kind of machine? Went to the one in Gangnam(KEB) and they didn't have it. Not sure if it's the same with all the branches.
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Horangi Munshin



Joined: 06 Apr 2003
Location: Busan

PostPosted: Thu Apr 23, 2009 8:00 pm    Post subject: Reply with quote

The bank by my school (Busan Bank) has a coin machine. Don't need an account just chuck them in and it spits out notes. I'm off to do it now actually.
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Rusty Shackleford



Joined: 08 May 2008

PostPosted: Thu Apr 23, 2009 8:10 pm    Post subject: Reply with quote

Yea, it's mega easy to get them converted to notes. I had enough 100w coins to pay my gas bill. In the middle of winter!
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Intrepid



Joined: 13 May 2004
Location: Yongin

PostPosted: Thu Apr 23, 2009 8:37 pm    Post subject: No fee Reply with quote

Yeah, it's nice. There's nothing like the extortionate machines they have at WalMarts in the US--Coin-Ease or whatever they are...
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raulfd4



Joined: 04 Mar 2008

PostPosted: Thu Apr 23, 2009 9:15 pm    Post subject: Reply with quote

success! 261,000 won between me and my girlfriend in 11 months. we're thinking casino time.
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eamo



Joined: 08 Mar 2003
Location: Shepherd's Bush, 1964.

PostPosted: Thu Apr 23, 2009 10:21 pm    Post subject: Reply with quote

Why don't you spend your coins as you go......then you wouldn't have to hump heavy jars of coins to the bank.
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roadwork



Joined: 24 Nov 2008
Location: Goin' up the country

PostPosted: Thu Apr 23, 2009 10:28 pm    Post subject: Reply with quote

eamo wrote:
Why don't you spend your coins as you go......then you wouldn't have to hump heavy jars of coins to the bank.


Yeah, I do that too, but the 10 won and 50 won coins really build up.
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roadwork



Joined: 24 Nov 2008
Location: Goin' up the country

PostPosted: Thu Apr 23, 2009 10:28 pm    Post subject: Reply with quote

eamo wrote:
Why don't you spend your coins as you go......then you wouldn't have to hump heavy jars of coins to the bank.


Yeah, I do that too, but I only spend the 500 and 100 won coins and the 10 won and 50 won coins really build up.
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Xuanzang



Joined: 10 Apr 2007
Location: Sadang

PostPosted: Thu Apr 23, 2009 10:28 pm    Post subject: Reply with quote

The post office also has a sorting machine. They've been kind enough to do it for me.
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Robot_Teacher



Joined: 18 Feb 2009
Location: Robotting Around the World

PostPosted: Fri Apr 24, 2009 2:43 am    Post subject: Reply with quote

I'm noticing a pattern of growing coin piles on my table, desk, floor, and drawer. I'm just going to get a big coin pot at Emart this weekend. Surely they sell that as Korea turns you into a coin collector. Too see a holographic video on coins management pop out of my Bicentennial Man head, please deposit obagwon coin. Thank you sir or madam. Wink
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