BANKS REFUSE TO HANDLE CHINESE MAN'S COIN STASH

One plucky businessman has been left with the difficulty of trying to convert the hundreds of thousands of coins he has accumulated into cash notes and bank credit.

The laundry business owner surnamed Zhang, from Zhengzhou in central China's Henan province, revealed that he had piled up coins worth over 300,000 yuan (£32,000) over a couple of months, according to a report by People's Daily Online.

The coins, which weigh around 1.5 tonnes, have been stored at Mr Zhang's warehouse in plastic bags, with 500 one Yuan coins per bag.

After going round the Agricultural Bank of China, the Construction Bank of China and Minsheng Bank, he was told he could only convert 2,000-3,000 coins a day, amounting to an extremely slow and time wasting process.

Mr Zhang called for help to local newspapers on January 11 saying he was in desperate need of changing these coins to banknotes so he can pay salary to his staff.

He told assembled reporters: ‘I’m extremely concerned about my many coins. If any supermarkets need small change, please contact me.’

To read the complete article, see:
Too much money CAN be a headache! Entrepreneur pleads for help after banks refuse to accept the 1.5 tonnes of coins he earned from laundry business (www.dailymail.co.uk/news/peoplesdaily/article-3395474/Chinese-laundry-entrepreneur-pleads-help-banks-refuse-accept-1-5-tonnes-coins.html)

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