Bank Charging For Rolls

RBC is a horrid bank. No wonder profits fell. I personally do not believe other banks will follow suit, not charging for rolls would be a draw for customers.

My BF brought $25 in pennies to the bank & they sat there & counted them all. Never had this happen in my life. Thank god BMO opened around the corner with a free change drop machine - no need of an account.

TD Canada Trust has no trouble making change for my work without an account. RBC requires an account for $5 in pennies. & they are rude about it.

I am considered a student and the bank I g to changes it since I am a student I do t get charged.

They do be me for an account, but never forced.
By the way, do you buy a large amount of rolls frequently?


Bank has the duty of storing cash. Exchanging currencies at equal values should NOT apply to prices.

Here are several possibilities:
-- Your bank rolls coins with a machine.
-- They want to rip you off since they know you want coins so badly.

Here are the reasons to quit RBC:
--They're doing things I've never heard of (Nonsense).
--I believe that RBC workers have the responsibility of suggesting an account, but not force into an account just because of rolls. (UNLESS FOR RETURNING ROLLS, SO THEY HAVE TO SHIP ROLLS OUT) Keep this in mind.
--If they charge you money, it would be PROBABLY the branch that gets and shares the benefit. Not the company. This is only my opinion. Recently, I've been to several RBCs and none of them charge for fees.
--Even a CoinStar only charges 11% on RETURNING COINS.

Switch to CIBC. A good bank for coin rolls.
Hope this helps.

LOL @ the bank footing the bill.

You really think banks are going to be worried over making 16¢ per roll? They are making millions off our interest rates, us keeping money in our accounts. Providing rolls is a courtesy, not a gigantic money making scheme. Maybe in your little coin collecting world, it's a gigantic money making scheme, but in the real world, it's not. Banks are not worried about a measly 16¢ per roll off their customers. Maybe RBC needs to resort to charging for rolls because their profits are down & they are losing customers.

If the coindrop at the BMO was just for freeloaders, they would have made it exclusive to customers long ago, especially since a lot of jerks do go in there & use it. You don't get charged to use it. You do not have an account. It is there to draw customers.

The coin being delivered - the gas, the guns, the delivery guy - all separate company from the bank. They pay for this service. The bank will pay for the machine & possibly the rolls. Prices may rise, but so will your interest rates.

However, think what you want, you won't see any other banks following suit.

I don't consider my rolls very "precious". It's possible you might consider yours "precious", but I don't. I do not "roll" that way.

I think that its not don for any monetary reasons, because to a bank, charging 16cents per roll is not going to even make a slight drop in the bucket for profit. I think it is done to push roll hunters AWAY so that the bank doesn't have to waste time ordering, collecting, sorting and rolling coins for NON BUSINESS customers who just use those rolls for a hobby. This is not something I AGREE with, as I just started roll hunting a few months ago and so far had NO problems with RBC, only good service. I really hope this trend does NOT continue, it if does, I'll be forced to open a business account lol

My bank already charges non-customers, only a matter of time...

Hmmm. This seems to be a fiery topic. Here's my thoughts.

I don't feel there should be charges and I don't see CRH as freeloaders.
1. They take the residual coins back to the bank. Plus there are others taking rolls to the bank. So they should have them on hand.
2. I'm not sure abouts the comments on all the resources needed to get coins to the bank when the same process happens for paper money. We dont get charged to take that out of our accounts.
3. What business is it of theirs how we like to withdraw our money. Whether it be paper or coin. We do pay monthly service charges, that should cover it.

And for the people from the USA making non informed comments of our our system works. I have gone to banks in the USA to get boxes of coins. I have never been charged. I've never had an account. And I have seen how low interest rates are on loans down there. And free monthly accounts. I know that a lot of the banks never want your coins rolled because it goes through a counter and bagged and shipped out. Just to turn around and pay someone to deliver boxes of coins to them. Talk about a waste of money.

In Canada we take rolled coins to the bank and from what I've seen they keep it all in their branch and reuse it as they need it. If to many rolls come in then they ship it out. I have received coins from multiple banks, with and without accounts their, we have high interest rates on loans, high monthly fees, expensive ATM fees and it's just another way of gouging in my opinion.

I am in a small town and the teller at my bank will special order me boxes of coins weekly and not even bat an eye. And she knows what I'm doing with them.