Can a business refuse to accept payment with change?

Banks can apply a coin-counting fee for having to use technical and human resources to count change.

Using all of the spare and loose change accumulated in the wallet is something everyone tries to do, however, banks can apply a coin-counting fee for having to use technical and human resources count change.

Any merchant can refuse payment of up to €50 in change: “Except for the issuing authority and the persons specifically designated by the national legislation of the issuing Member State, no party shall be obliged to accept more than 50 currencies in a single payment”, reads article 11 of EU Regulation number 2169/2015.

The Bank of Spain says that banks use this reason for not accepting payments at the window that require counting of over €50. However, they can provide the service, particularly to businesses that usually end up with a large amount of coins. In the case of providing the service, the bank must provide a receipt stating the amount, indicate that the payment is subject to counting and apply a commission for counting the coins.

“The collection of this commission does not deviate from good banking practices, as long as it is duly informed of its existence and of the way to calculate its amount,” emphasises the Bank of Spain.

The entity has this information and these recommendations:

Pay with notes of an amount that is in proportion with the bill to avoid possible refusal to accept a high denomination note for a much lower bill amount.

Organisations have an obligation to withdraw notes that appear to be counterfeit and must identify the person who is using the note.

There is no obligation to accept over €50 coins in one payment.

Funds deposited in banks are available immediately, however, if the amount is very high it is advised to notify them in advance.

If there are contradictory versions about the amount of cash given to the bank from the client, the document that will clarify this is a receipt of income validated by the entity. The list of operations in the electronic journal and the cash count at the end of the day should also be looked at.

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