New solution for those unwanted holiday coins
It is a ritual with which every globetrotter is familiar … returning back home weighed down by a pocketful of foreign change that ends up permanently housed in a dusty jar.
Now, an Irish company called Coindrum is hoping to end the scourge of inadvertent coin collecting by exchanging unwanted loose change for vouchers that can be spent in the airport.
The general idea will be familiar to those who have used coin collectors in supermarkets but with one major, and significant, difference – there are none of the high commission rates charged by those services.
Instead, Coindrum not only gives you the full value of the coins but actually a bonus 10% on top, all in the form of vouchers that can be spent on airport shopping.
The idea has been successfully trialled at Dublin Airport where some passengers deposited up to €300 in coins using the service.
It has also proven popular with locals looking to offload their own euro coin collections and not just visitors heading back to countries with different currencies.
Coindrum is now looking to expand into major international airports across the world and has just secured US$2 million in its latest funding round.
Lukas Decker, the company chief executive, told Lonely Planet: “Travellers are currently getting stuck with their leftover coins when they are departing the currency area, so Coindrum offers a simple solution to this inconvenience. Instead of your change turning into dead weight, you get to buy something you love with it.
“Coindrum should and will be in every international hub airport worldwide as it offers a simple solution to a common problem.”
The service has also proven popular with managers at Dublin Airport, not only providing a boost for shopping but also the amount of time people spend fumbling with coins at security checks.