Coin wrappers are typically small metal capsules that are put between your coins and the face of the coin itself, making them harder to tell apart from the coins themselves (it’s a coin wrapper-related term). This makes it harder for your cashier to identify these coins and you’re not really sure whether you were handed one or hundreds, or the coins in a bag.
This is generally not a problem at all (although if you’re having trouble seeing it, a pin can aid to identify), unless you’re dealing with money you’re in the middle of withdrawing. You can keep your coins in the bank (or have them delivered to your doorstep) without worry, however.
We’ve been told that if you’re withdrawing money to buy something at a supermarket and you’re given a coin wrapped card, it can be very difficult to identify which one is yours and which one is the same (this is due to the thin material the coin is made from – the thinner the coin, the more likely it is to be damaged or torn).
What are the effects of coin wrappers?
Most notably, they block your withdrawal as opposed to leaving it to the bank to decide – you’ll have to show your cards or tell them to put the money in a bag and deposit it. This can cause delays of up to a minute, although you can still claim your withdraw. It can be difficult to tell whether coins are inside anyway.
They also make a lot of noise and you’ll be worried about your neighbours, which doesn’t help, and that’s where you’ll end up paying. In a few cities, they’re actually banned from being delivered from one store to another.
In addition, the effect of the wrappers can be more severe if you’re dealing with cash, and they don’t get destroyed when you take it out of the bank. So when you’re waiting for that large payday, you’ll be waiting to see if the money arrives in a bag or in your pocket.
Should you ever have trouble getting your money out of a bank, you should talk to your local authority and see if it’s possible to get your cash back. In the unlikely scenarios, if it gets ripped out of your pocket with a pin and you’re at home, you may be able to claim it back, especially if the amount being taken is worth less than you paid in.
If you’re really worried, you should check out our guide to how to spot a scam
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