Far out Friday: Bank receives deposit of over $114,000 in coins

by NZ Adviser18 Mar 2016
Showing up with 540,000 Yuan (NZ$114,463) in coins to deposit, a Chinese businesswoman has left bank bosses bewildered, according to Fairfax Media. 

After being refused by a number of banks who wouldn't take her deposit, the Agricultural and Commercial Bank in Dongyang city agreed to draft all of their staff to empty the sacks and count the coins. 

The South China Morning Post reported that the woman's husband runs a firm in Dongyang city and the one Yuan and five Mao coins were paid to them by a bus company to honour a loan.

The couple would have had to find something bigger than the truck for transport if they had decided to deposit their full amount of 1.16 million Yuan, but they decided on the smaller amount due to the difficulties of transporting the money. 

The Agricultural and Commercial Bank said they hadn't seen a case like this but agreed to take the money as many of their customers were restaurants that needed coins. 

Although it was the first time this bank had seen such a case, a truck load of coines had been used in a transaction the year before where a was not the first time a man used $148,378 in coins to buy a new car in China. 

The coins weighed a total of four tonnes and were wrapped in 1300 bundles and a team of 10 staff unloaded the truck for over an hour to shift it to the car company's showroom where the load took up more than 4 metres of floor space.

Mr Gan explained to the Liaoshen Evening News that he had collected the huge amount of coins and notes through the petrol station where he works.

 "As our station is in the suburbs, there are very few banks. So we didn't deposit the coins and decided to use them to buy a car for our company," he says.

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