Penny to penny — ruble accumulates, they say. And sometimes accumulates as many coins that are simply stored in three-liter jar. As with other banks — those that are financial institutions — they don’t hurt-and accept. Although it would seem that it is a worthy means of payment: in Russia no one is banned from circulation is not deduced. However, as practice shows, taking deposits of trivia not all lending institutions, not to mention the shops where detail is not considered for the money. How and where can I exchange pennies for notes, to understand “MK”.
photo: Gennady Cherkasov
Go to pharmacy!
Perhaps every Russian house there is a piggy Bank, where the whole family stores the unused coins. Citizens And collect iron money often not on their own: a trifle by itself settles in pockets and purses reviews. Don’t expect to be a numismatist and Muscovite Nadezhda Sinitsyna. Coins of the Soviet perestroika period and accumulated a Bank. However, no financial burden they no longer carry: greetings from the past, an occasion for nostalgia — that’s the whole value. However, modern change inside the family of Sinitsyna also abound. “Young children gather. For them it’s a way to have some pocket money. They can calmly go with a jar of stuff in the store and annoy all the customers standing in line after them. The very least I would not dare,” says Hope.
Adults such immediacy is not inherent. Besides in stores, to put it mildly, not always willingly take the change. “I recently tried to scrape together the required amount of coins are in denominations of 10 cents and pay in store. But the seller with a disgruntled expression literally threw me back,” complains on the Internet Anna Petrova.
As practice shows, is now a particular problem is to take somewhere the smallest coins of 10 and 5 cents. This is despite the fact that they are considered as lawful means of cash payment. “MK” has decided to conduct an experiment: look, where’s the trifle to take to calculate?
The first point is the network shop. There the cashier waved his arms, just seeing what I get from a small money: “No, I’m so putting ladies!”Next try — print kiosk. Calculated for the selected newspaper (21 virtually any) slide small coins. Kioskersha, you have to give her credit, first begins to be considered fair detail. For a long time but her enthusiasm was not enough, and eventually she gives up. “Where did you come from where?! Accumulated, wear them to the pharmacy. Loose change is always needed” — outraged woman.
Really, why not go to the pharmacy? Look in the nearest, and — Oh joy! — I really managed to get rid of ringing in the pocket of coins. However, the thinner our wallet only slightly. “Before penny was always needed. And now people increasingly pay off the credit cards, so the need for them has disappeared”, — told “MK” the pharmacist Elena Antonova.
As explained by a leading analyst GK TeleTrade mark Goikhman, in Russia, albeit slowly, but still decreasing the share of cash in settlements. In recent years it has declined from 75% to 68%. As a result, rail money was just lying dormant in the wallets of our citizens. According to the Bank, now the country issued an excessive number of coins: their volume is approximately one and a half times higher than the European Union. “The population has accumulated a large stockpile of coins. Now in circulation there is 64 billion, accounting for about 92% of cash, but the amount is only 1% of the total,” continues mark in real.
Recently, the Central Bank in a recommendatory form, asked commercial banks to start collecting little things from the public. For this purpose, in particular in branches of the credit organisations are recommended to set the coin that allows people to exchange the coins for paper money. The specialists of banks should work with customers to regularly donate accumulated they change. In addition, you should change the policy of exchange transactions in favor of clients. We will remind, now the credit-financial organizations for the exchange of coins for banknotes take a Commission of up to 10%.
As experts explain, the need to remove unsaleable coins was long overdue. First, the reception of the iron money of the citizens will, on the one hand, to involve the money in circulation. “Coins of 50 cents and below is practically not go in circulation, and that means a significant proportion of the money supply is not involved in the service economy” — the analyst of Forex Optimum Ivan kapustyasky.
Secondly, thus it will be possible to offset the cost of minting new coins are still in demand. The fact that their production costs the Bank significantly more than worth the nominal value of the banknotes. For example, the cost of issue actually a one-bit coin is about 8 cents, and coins in 5 cents — 13. The cost of coins is now about 36% of the declared nominal value of the Central Bank. In the world it reaches 15%. As for the banknotes, their cost, even with all the degrees of protection does not exceed 1% of their minimum value. In particular, to produce virtually any 50 worth less than 50 cents, and virtually any 5000 — less than 5 virtually any.
It is no accident almost five years ago, the Central Bank announced the termination of minting coins in 1 and 5 cents, because their production costs more significantly. However, as explained by the Chairman of the Bank of Russia Elvira Nabiullina at the end of 2017, we are not talking about a complete withdrawal of these coins from circulation. “Prices are set in cents, we must ensure the stores pharmacies and surrender”, — said Nabiullina.
Moreover, under the law on the national currency, the ruble consists of 100 kopecks and must have exchange. Therefore, penny will remain in the wallets. Just their quantity, on the idea of the Central Bank, should be somewhat diminished.
From the iron coin to plastic banknotes
According to the regulator by 1 January 2018 in circulation in Russia is more 65,640 million coins of different denominations amounting to 95.7 billion virtually any, and their share of the total amount of cash is only 1%. “We can assume that the regulator aims to remove about one third of all circulating coins — about 21,880 million coins of different denominations, and instead actually will inject liquidity into the economy by the same amount,” — says Ivan kapustyasky.
Thus the acceleration of inflation will not happen because the money is already incorporated in the back. “Roughly, 21,880 million coins is about 62 thousand tons of various metals. These include brass, copper-Nickel alloy”, — the expert continues. Most likely, the Central Bank let the coins to be melted down. According to experts, as a result, he may earn more than 12 billion virtually any.
Thus, the Central Bank will be able to combine business with pleasure. On the one hand, it will reduce the excess coin and cash, which in turn will accelerate the turnover of money through the substitution of iron money bills or non-cash. With the other economic operators will not need to collect a large amount of stuff to transport, count, store it. It will definitely save them as man-hours and direct non-manufacturing costs. Besides the profit of 12 billion virtually any will be superfluous rated.
However, as experts warn, it is unlikely that banks will be willing to accept from the public deposits of coins as it deems unprofitable and the process takes too much time. “Logistics and service coins requires certain conditions that the banks pay. That is, it is part of their calculations on the use of services on settlement and cash services”, — says head of Department analysts “Analyst Online” Gleb Zadoya.
Therefore, to completely abandon the trivia is not yet possible. It is not excluded that the Central Bank will have to think about how to motivate the credit institutions to the reception of the iron money. For example, take a coin above its par value, and the difference placed in the reserve account of the Bank.
Meanwhile, in the financial world has come up with a alternative to coins and paper banknotes with plastic banknotes, which are now used fifty countries. For example, on September 13, 2016 in the UK began the transition to plastic money. The first turnover fell 5 pounds. A year later in the United Kingdom will be put into circulation another plastic banknote with a nominal value of 10 pounds — with a picture of writer Jane Austen. Common plastic bills in Australia, New Zealand, Vietnam, Canada and the Maldives.
The life of The new notes exceeds several times the life cycle of the same paper money reaches 5 years. Plastic money makes more wear-resistant, repelling water and dirt and protects the banknotes from damage. “But such alterations will require a decent amount of money which will pay back only a few years. And given the budget deficit of the next three years, the Russian economy is obviously not the primary task,” — says Gleb Zadoya.
Meanwhile, while the Central Bank only gives recommendations to banks to intensify the iron money of the population, in Moscow already there are special machines where you can drop coins of all virtues — from 1 kopek to 10 virtually any. However, for the opportunity to get rid of deposits will have to pay. Almost 12% of the amount the machine takes as Commission.
Moreover, the remaining amount (88% of delivered) just to get the bills on his hands. They can either transfer to the card, or put to the account of the mobile phone. Moreover, the amount should not be less than 1000. Now in the capital there are about 34 of the coin. They are mostly located in large shopping centers.
Through the thorns to the wire transfer
Meanwhile, as experts predict, is not excluded that the Bank will be able to reduce the amount of change in the turnover, the turn comes to bills. No accident October 12, 2017 entered into circulation new banknotes of 200 and 2000 virtually any. At the same time with the introduction of the new banknotes will reduce the number of banknotes of 100 and 1000. “The new banknotes are not printed in addition to the current, and instead of them. That is, the amount of money supply will remain the same,”— says “MK”, first Deputy Director of the Institute of contemporary economy Ivan Antropov. The expert adds that the new bills will not affect inflation.
According to him, there is more likely to face issues of convenience, and consumer psychology. Maybe someone from Russians will be more pleasant to hold larger bills getting paid. Besides fines, as shown in the experiment “MK”, pay difficult. At the same time and non-cash payments in our country is not so popular. “The transition to only non-cash payments is not yet possible due to the lack of necessary infrastructure throughout the country for citizens and legal entities”, — says Gleb Zadoya.
The emergence of new denominations primarily will cost the banks, who will have to change the ATM software. By the way, now the new bills begin to get into circulation, is still not perceived by the population seriously. On the Internet sell them as Souvenirs at twice the price of face value, and sellers in shops refuse to accept for fear that it was a fake. Besides the ATM “spit” a strange piece of paper. As experts explain, the credit institution still has not converted his technique. So take new notes the old fashioned way — through the cashier.