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Deltron
Valued Member
United States
80 Posts |
 Posted 07/29/2010 8:12 pm
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So I go to the bank today to offload my last two boxes of halves, and the teller that I usually deal with tells me that he was told that he cannot accept anymore coins from me without charging a 1% fee. Has anyone had an issue like this before? Or is it just this bank? o.O
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big777bill
Valued Member
United States
258 Posts |
Posted 07/29/2010 8:28 pm
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I don't have any problem at my bank cashing in coins but I always deposit the money to my savings account.
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Tim Stroud
Pillar Of The Community
United States
1024 Posts |
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fioti
Valued Member
United States
462 Posts |
Posted 07/29/2010 8:33 pm
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None. But the manager tells me soon all counters will disappear from all banks. Slowly creeping to plastic only. He no longer orders new coins. Just recycles box searches. In fact, he orders no new bills, either.
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Kabiye_Lady
Pillar Of The Community
USA
577 Posts |
Posted 07/29/2010 8:38 pm
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<Funeral Music in the background>
It'll be everywhere soon. Plus you'll have to pay every time you use your debit card. Or GOD FORBID you have to go to the bathroom while you're in the bank.....
Happy days are over. Get used to it (now or later) - it's up to you.
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SDcoinguy
Pillar Of The Community
United States
776 Posts |
Posted 07/29/2010 9:18 pm
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find a new bank. I recently just helped my bank by taking their plastic coin bags from them. they were going to ship them out, but I saved them some shipping costs. we both win
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Oldest Roll/Loose Finds:
.01 - 1894 IHC
.05 - 1902 Liberty V
.10 - 1918-S Merc
.25 - 1935 Wash
.50 - 1964 Kennedy
http://sdcoins.ecrater.com/ |
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Gothic Florin
Pillar Of The Community
United States
1177 Posts |
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AGCoinHunter
Valued Member
United States
445 Posts |
Posted 07/30/2010 08:59 am
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Got to a credit union and join up. Most CU's will deal with your coins or have a machine.
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edgman
Valued Member
United States
131 Posts |
Posted 07/30/2010 1:53 pm
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Rules of XXXXXX Bank in MD.
If you are a regular client and putting the coin amount into your account there will be no charge but the coins must be wrapped as well as possible with your account number on the wrapper. If you are a business client the coins do not have to be wrapped. If you are not a client they will charge 2% on all wrapped coins. All coins must be in wrappers if possible. Only loose change will be accepted unwrapped. These are the rules of the bank my wife works at, which is a very large bank in MD. Half of her clients are small business accounts.
edgman
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pls
Pillar Of The Community
United States
914 Posts |
Posted 07/30/2010 3:58 pm
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I love credit unions - I've dealt with them for 25 years or more - but be aware that when it comes to acquiring rolls of new coins, like the presidential series, they're at the very bottom of the pecking order, way behind banks. I don't ever recall seeing coin-counting machines installed in one, either.
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tampabaygrampa
Valued Member
United States
144 Posts |
Posted 07/30/2010 7:46 pm
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I live in Florida and have been a member of the same credit union for 20 years. I took a bunch of coins in last year and put them in the coin counting machine. They charged me 3% for the privilege of depositing my coins. You can't deposit rolled coins in any manner. Earlier this month I went in with another bunch of change and was charged 6%. The raise was effective late last year. Coin star in the grocery stores are 7% to 10%. Banking is tough in the Sunshine state.
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vgasca
New Member
Switzerland
34 Posts |
Posted 07/30/2010 7:58 pm
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Like one member said, you can use different banks. You can also have all your coins rolled and use them in the grocery store. Meaning, next time you go shopping pay with your coins. It is a bit embarrassing in the beginning and you will hold the line but you will get used to it.
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925dealer
Valued Member
United States
258 Posts |
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slackware1995
Valued Member
United States
74 Posts |
Posted 08/14/2010 10:17 am
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The local branches of US Bank are terrible around here. Yesterday, in addition to requiring me to have my name and phone number on EACH roll (even the plastic wrapped rolls that I didn't break open), and asking me if I had an account (I go to this particular branch several times a week and it's in a small town); this teller then proceeded to ask my "Why are you returning these coins?"
Even though I was stunned, I replied "I don't need them any more." which satisfied her. BUT, in my mind, I was thinking that it was really none of her business why I was cashing in $110 worth of dimes.
Later yesterday, I was in a larger city and turned in $130 in 1/2s, went to the closest US Bank branch, it was so nice, they were extremely polite, didn't require my name/phone number, nor even asked if I had an account. She even ended the transaction by thanking me for coming in!
A couple of days ago while at the local branch, I asked "Can I please get a few wrappers for 1/2 dollars?". The teller hands me 4 and tells me that "If I need wrappers I should really go to Walmart and buy them." I couldn't believe it.
The customer service of US Bank around here is the worst I have ever seen. If they spent less time trying to get me to apply for a new loan, and more on being polite, I'd consider applying for one of their loans.
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Edited by slackware1995 - 08/14/2010 10:22 am |
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Libertad
Valued Member
Canada
440 Posts |
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pyrbob
Pillar Of The Community
USA
684 Posts |
Posted 08/14/2010 1:07 pm
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I think you guys misunderstand what is happening. This has nothing to do with plastic or cold hard cash. It is simply the economics of our poor economy. Every time you get a large amount of coins from a bank they have to replace them for their commercial customers. Ordering coin in has a fee attached to it. Every time you take a large amount of coins to them if it is more than they keep on hand then they have to bag it and ship it to their supplier. This also has a fee. It is a balancing act for them to keep a proper amount of coin on hand for their commercial customers without having an over abundance of coins in their vault. We coin collectors can throw the balance off. Banks are a business and are not there just to serve us. Just like other businesses, the economy and low interests rates are hurting the banks so just like other businesses they are cutting costs where they can. If they have a customer taking out and/or bringing in a large amount of coins the bank needs to look at how much business the customer gives them compared to the fees that customer costs them. If the person costing them fees is not a customer then what is their incentive to continue providing a coin service to them? This is not a problem at all banks yet so if you run into just switch to another bank. By the way, I have accounts at 2 different banks. I get coins at one and I dump coins at the other. One uses Brinks for their coin supplier and the other uses Dunbar, this way I know the coins I send out are not coming directly back to me. So use the banks for your personal business and make sure you have a presence in them other than coin sorting. This seems to work well for me. Good luck with your searching.
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