Although today it is more common to use credit or debit cards and even Bizum to make payments in stores, supermarkets or other businesses, there are also those who prefer to continue using cash. In fact, it is advisable, even if other payment methods are used, to have physical money to avoid any problem, such as the one that last November affected the Redys payment platform and that caused incidents in the use of ATMs and dataphones.
Whether you prefer to pay by card or cash, we have all experienced having a large number of coins in our wallet and wanting to get rid of them. However, you probably didn't know that there is a maximum amount that you can deposit in the bank or be accepted in a store.
What is the maximum they can accept?
Perhaps it was something that you had never considered, but as the Bank of Spain explains in its blog 'Bank Customer Portal', establishments are not obliged to accept more than 50 currencies in a payment, with the sole exception of of a 'public fund', that is, one that depends “on an entity or body of the public sector.”
As the organization explains, “this coin limit is the rule often applied in the daily operations of banks, since counting large sums could delay attention to the rest of their clients.” Furthermore, it points out that, in the event that the bank accepts a high number, “it must provide you with a receipt showing the amount delivered.”
Why don't stores accept more than 50 currencies?
The Bank of Spain highlights that professionals in sectors such as commerce and hospitality, receiving so many coins daily, need special cash services. “Entities undertake to accept, count, package and transform the periodic delivery of currency for deposit into account, as well as the remittance and delivery of cash refunds in currency.”
The entities undertake to accept, count, package and transform the periodic delivery of currency for deposit into an account, as well as the remittance and delivery of cash refunds in currency. They usually refer these services to subcontracted companies, which does not mean that they can ignore the incidents that arise due to their actions and must respond to the client, in accordance with what was agreed.
In fact, they can agree to charge a counting commission for the frequent admission and handling of a high number of coins, although this is usually applied to merchants dedicated to activities that require a daily cash service, which consumes human resources and technical means for part of the entity.
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