Bring your new £1 when parking in West Devon
From 1st July the parking machines in West Devon Council carparks will no longer be able to accept the old £1 coins. Customers will still be able to pay by cash using the new coins or by phone through Ringo.
The Council has a contract with Teignbridge District Council, who count and bank the cash from the machines, before transferring the income to the Borough Council. Teignbridge also counts and banks cash for Exeter City Council, in addition to dealing with its own income, so the cash amounts to approximately £45k every day.
The bank receiving this cash has instructed that the new and old pound coins should be separated, and, having explored options for complying with this instruction. Teignbridge have reluctantly concluded that eliminating the old coins is the most cost-effective solution. To continue to accept the old coins would mean employing additional staff to undertake this work, or replace counting machinery, at a cost of £40k.
At present, approximately 45% of £1 coins being counted are the ‘new’ style, and we are seeing roughly a 5% increase each week. If this trend continues by the end of June it will be 60% and by the end of July 80%.
Cllr Robert Sampson, Lead Member for Commercial Services at West Devon Borough Council said: “Ringo is a great option for a quick and easy way TO PAY to park. We are sorry for any inconvenience and hope it will not be disruptive while the 'old' coins are taken out of circulation. Don't forget you can pay with the 'new' £1 coins ”.