Where to exchange banknotes for small change: banks, other institutions, exchange rules and convenience

2024 Author: Howard Calhoun | [email protected]. Last modified: 2023-12-17 10:16

Paper bills are always present in the wallet of most people. However, despite the era of plastic cards and contactless payments, it is very common to pay or deal with cash. And in such cases, like it or not, you are faced with the need to exchange money for a trifle, which often turns out to be a big problem. Today, there are many ways to exchange - from the most traditional, such as buying something in a store, to more complex, expressed in a trip to financial and commercial institutions. Let's analyze in detail where to exchange money for small change?

Exchange in banking institutions

Change paper money for change in the bank is not difficult. However, before visiting the bank, you need to be sure of the authenticity of the banknotes that are subject to exchange.

Until recently, this service was provided on completely free terms, and now each commercial bank has the right to indicate its percentage forproviding this option. So, for example, the most popular PJSC Sberbank in Russia takes 1-2% of the exchange amount in its favor. However, this option is only suitable if you need to exchange a large number of five-thousandth bills for rather small money, otherwise passing this procedure is pointless.

Rules for exchanging banknotes for small change in a bank

If you still need to exchange banknotes for a trifle, you will have to comply with some requirements.

Firstly, when contacting any bank branch, you must have an identity document with you (passport, driver's license).

Secondly, a document (application) is drawn up, in which all information about an individual is specified in detail, as well as the denomination and number of the bill to be exchanged.

Next, the cashier checks the authenticity of the banknote and issues a change in the change currency you specified. It can be paper money with a face value less than presented to the cashier or small coins. After that, the cashier makes a note on the application for the operation and gives small money to the visitor of the bank.

In this case, you must remember about the commission, which each bank sets at its discretion. Therefore, before carrying out this operation, you should check with the administrator regarding this detail, since the percentage can vary not only from bank to bank, but even be different in one institution, in its different branches.

Why can a bank refuse tobig bill exchange

The method of changing money in a bank is the least common service of all possible. Obviously, banking institutions, like no other, deal with banknotes and must carry out any operations without hindrance, but in practice, not every bank has such an option in the general list of services provided. So, when visiting another bank for an exchange, you should keep in mind that you may be refused regardless of the status of a financial institution, and the bank's position will have to be accepted.

Where to change banknotes for small change, if not at an ATM

One of the easiest and at the same time unpretentious ways of exchanging is an ATM. The exchange is convenient in that transactions can be carried out 24 hours a day, and for this you need to have only the appropriate bank card. The process is quite simple - we replenish the card account, and then withdraw the required amount in small bills. But even with this method of exchange, there is a difficulty, since the ATM does not always have small money and options for withdrawing and replenishing the account.

However, this option is one of the fastest, and even if it is not possible to exchange for a trifle, then at least you can exchange for a smaller denomination, which will further facilitate the exchange process.

Where to exchange banknotes for small change in public transport

Each of us has experience of using public transport. For everyone it is their own story. Someone uses it every day, and someone even forgot the number of the bus or tram that goes towards his house. However, most of us found ourselves in an awkward situation when riding a tram or trolleybus, if in the morning we handed the conductor a five thousandth bill with a secret desire to exchange it for smaller bills and coins.

In some cases, you can drive to your destination for free, and therefore, stay with the same large bill. And the picture is radically opposite, if you turn to the conductor with a similar request at the end of the work shift. After all, each conductor hands over the accumulated cash, reports and counts them, and will gladly exchange the trifle accumulated during the day for large bills offered by you. This method of exchange has a disadvantage. In the case of exchanging a large proposed banknote for coins, the time for mutual settlement may be delayed, despite the fact that the arrival time of transport at the depot at the end of the shift is strictly regulated.

Metro tokens as an alternative

This method is good in cities with underground transport, because when collecting a large flow of passengers, cashiers always have a supply of cash. During the next operation to buy a token, you can always exchange the large amount you have for coins. The advantage is the machines, which also have the function of issuing change, which is good news.

Use vending machine

Under the Soviet regime, the question of where to exchange banknotes for a trifle was not acute for society, since special machines were very popular in which it was possible to exchange banknotes for a trifle. These machines were everywhere. In our time thesedevices are not present in our lives, but some analogues are very rare - vending machines. These devices are distinguished by the largest commission - up to 5%, but the device can not only exchange your banknote for a trifle, but vice versa, accumulate all your accumulated coins and issue a brand new banknote.

Often, such devices are installed in combination with a light snack by analogy with a vending machine, and if you pay attention to such devices, you will notice that there are models not only with your favorite coffee and chocolate, but also those that can give out change coin. Here you can also simply exchange a banknote if you put the banknote into the machine in a hurry, but do not place an order. And the question of where you can change money for a trifle is closed.

Other ways to change bills

The most obvious way that most people are guided is to go to the nearest store (stall, kiosk, pavilion) and buy some small goods there like gum or ice cream. Often, sellers are reluctant to part with the change coin accumulated during the day, and the situation is especially difficult in the early morning or in the morning, when there are clearly few coins in the cash register. As practice and logic show, it is better to carry out an exchange operation in the evening, when there are enough coins in stores, the number of visitors is minimized by the evening and it is necessary to hand over the cash desk soon.

As a result, the question of where to exchange banknotes for a trifle should no longercause embarrassment.

Note that a few months ago, by order of the Central Bank of Russia, 2 new denominations of 200 and 2,000 rubles were introduced into circulation in the Russian economy. This action is necessary to facilitate payment transactions and reduce the burden on the largest bill of 5,000 rubles.

In any case, each person should consciously approach where to change paper money for a trifle, weighing all the pros and cons, because you can not only fail to achieve your goal, but also get into an awkward position.