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 Replies: 59 / Views: 9,094 |
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Pillar of the Community
United States
1903 Posts |
I still don't understand why everyone here feels the banks "owe us". (I promise you I don't work at a bank) Banks are businesses plain and simple. No one requires you to save your money in a Bank, no one requires you to have a checking account, and no one forced anyone to sign a bad mortgage product. Many people have this instinctive urge to blame others when things don't go our way. The sooner you admit to yourself that
1) the bank is there to make money
2) the bank does NOT need your money
3) the bank is not obligated to cater to roll hunters
You will change your mindset and find the right way to build a relationship with your bank that will allow you to roll hunt without hassle. Its all about not wearing out your welcome and building relationships. If you go about it in that way you will run into far less issues.
Edited by unholyroller
05/30/2012 07:55 am
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Valued Member
United States
126 Posts |
Oh Unholyroller The banks Use our money. They are the ones who are making the real money from our money. In a sense they are borrowing our money. The interest they pay us is a joke when compared to the amount they make borrowing from us. In turn they provide a service for us. OK now in America we have many forms of money Coins being one. They are in the business of American money in all its forms. There for they need to except all of its forms. If I have an account I should be able to deposit as much or as little of any American money I choose.
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Bedrock of the Community
United States
20753 Posts |
Quote:
I think unholyroller summed it up nicely.  Just don't understand why people don't realize that a bank is a buisness, not a fun house. They have employees that collect a salary and if that bank does't make a profit, those employees will be out of a job. As more people play the coin dumping game, the more time that bank is doing something that makes no profit of any kind. So think of this the next time your playing the take out rolls and return rolls. YOU could be putting someone out of work. |
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Pillar of the Community
United States
2049 Posts |
Quote:
Oh Unholyroller The banks Use our money. They are the ones who are making the real money from our money. In a sense they are borrowing our money. The interest they pay us is a joke when compared to the amount they make borrowing from us. In turn they provide a service for us. OK now in America we have many forms of money Coins being one. They are in the business of American money in all its forms. There for they need to except all of its forms. If I have an account I should be able to deposit as much or as little of any American money I choose. At the end of the day, banks are a business and have the right to refuse business to anyone for any reason, especially those that are solely using them as a dumping ground for unwanted coins from roll hunting. As Carl just said and others have said, it costs the bank time and money to process the coin dumps. How much money do really think a bank is going to net on someone dumping $1000 worth of halves, and then another person dumping $250 worth of pennies, then another dumping $400 worth of quarters? For the record, I don't work at a bank. I did for a few months years ago and hated it so if anything I should be one to pile on the bank bashing. But I understand business from the other side and don't feel that banks owe me any favors or should let people have an open invite to buy and dump as many coin rolls/boxes as they want to. Should baseball card shops sell boxes and boxes of cards to collectors, and then let them return the cards to the shop at the same price that was paid for the cards? Or should a coin shop let someone buy 5000 wheat cents at 3 cents each, let someone search through them and pick out what they want, and then turnaround and take them back at 3 cents each? Whether it's a bank, a card shop, a coin shop or a business, every transaction has costs associated with it. So there's no reason IMO to expect them to provide a free service for the purpose of advancing my individual hobby. Edited by CoinHunter53562
05/31/2012 09:16 am
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Pillar of the Community
United States
8518 Posts |
It's our society today, everyone expects something for free.
Oregon coin geek.....*** GO BEAVS ! ! ! ***
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Valued Member
United States
157 Posts |
two things I have a bank I dump at and dump maybe 10 dollars in pennies a month they told me icant dump there because it costs them money but they told me that on the phone after they told me my order of 25 dollars in pennies was not ordered because there was someone out sick also I collect halfs even clads so I will buy over face any that you have or ill trade.
and what bank do you get your halfs at anyway
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Valued Member
United States
366 Posts |
Getting cut off from a bank is never any fun. Hopefully the bank doesn't black list you for all their branches.
Also it never helps to be anything but understanding and respectful. Most of the times it's not even the immediate staff who are making the call to cut you off.
Bottom line: They don't have to keep you as a customer, they are doing you an incredible favor. If you reach an impasse just move on to the next banks in your area.
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Moderator
 United States
189340 Posts |
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Bottom line: They don't have to keep you as a customer, they are doing you an incredible favor. If you reach an impasse just move on to the next banks in your area. Very important to remember.  |
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Bedrock of the Community
United States
36844 Posts |
The problem with halves is that the bank has to send them back to the Fed or armored car service. Quarters or below can get placed with merchants over time so not a big problem for them. With halves and dollar coins they have to wait until they have $1000 worth, then order a pick up to send them out. They do not like to store and inventory coins. I was told this by a teller when I bought halves.
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Valued Member
United States
157 Posts |
Why do they have to send them back and my bank sends all the coins collected in the machine back why?
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Bedrock of the Community
United States
36844 Posts |
According to the head teller, there is no demand for them, so they do not want to store them in the vault. It is at the discretion of the head teller.
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Valued Member
United States
157 Posts |
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Pillar of the Community
United States
1227 Posts |
Just a thought because I have no idea how much coin you go through (it sounds like A LOT), but . . . why don't you just spend the coin you've sorted, or as much of it as you can? I don't burden our local teller with my junk cents and dimes--I use them at my own cash register to swap out for goodies, to make purchases, and to spot people who are a cent or two short.
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Valued Member
United States
157 Posts |
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Pillar of the Community
United States
858 Posts |
I think the best thing to do, depending on how many branches there are of a bank in anyone's particular area, is to rotate dumps. I usually map it out so that I only go to most branches once every two months.
I agree with earlier statements along the lines that banks aren't there just to swap coins. My experience is that if one branch is giving you a hard time, just move on to the next branch and forget about the previous, no hard feelings. I have found that branches within a bank vary on the types of services they will provide.
The most important thing to remember is to have fun and don't abuse the banks that are willing to provide these services for no charge at all.
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Replies: 59 / Views: 9,094 |
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Posted 05/31/2012 03:20 am
