Using spare foreign currencies

(Robyn Mackenzie/123rf.com)

Do you hate coming home from holiday with handfuls of foreign coins? The solution may be at hand.

Anyone who's travelled knows how annoying it is to come home with a handful of foreign change. But it seems as though there's a solution.

An Irish company called Coindrum is hoping to get rid of this loose change by creating a service that will collect this money at airports, where it can be exchanged for vouchers. The vouchers can then be spent at the airport.

Coindrum has been successfully trialled at Dublin Airport, with some passengers reportedly depositing up to €300 in coins when taking advantage of the new service.

The great advantage is that it not only gives you the full value of the coins you deposit, but throws in a bonus 10 per cent on top, which is a significant mark up!

The idea has proven popular not just with visitors who are heading back to countries where they've been using different currencies, but also with locals looking to offload their own euro coins.

Based on the initial success Coindrum has plants to expand to major airports around the world, and has secured quite a sizeable $US 2 million in its latest round of funding

Coindrum chief executive Lukas Decker 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."

Not only did Coindrum significantly boost shopping levels at Dublin Airport, it also cut down on pedestrian traffic with people spending less time fumbling around with coins at security checks.

Reprinted from oversixty.com.au

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