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 Replies: 35 / Views: 21,745 |
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Pillar of the Community
 United States
2424 Posts |
well. I agree with what one person said already, that certain banks order coin already becuase of merchant supply and demand..
it makes sense. the chase bank I go to, already order coin. so if I ask for a box or 2 of pennies or dimes or even halves it does not cost them anything more to order becuase I assume it all comes from one delivery, and one charge. I dont know for sure if the deliveries are weight based or not, I wouldnt think so.
anyway, I will continue to dump at the chase's around me until they start to charge too.
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New Member
Switzerland
46 Posts |
I guess banks are looking for ways to make a profit since they have been hit hard. You can always keep them and use them in Las Vegas. :)
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Valued Member
United States
364 Posts |
I'm really not trying to start any fires, but what did you guys expect? Picking up four or five boxes at a time and what not of halves. That's a lot of load on them (I say this having been one), and they have every right to charge you. I don't think they have a right to refuse you, but charge you for huge coin dumps? Sure.
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Valued Member
United States
66 Posts |
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I guess banks are looking for ways to make a profit since they have been hit hard. You can always keep them and use them in Las Vegas. :) I don't think Vegas takes (or pays out) in coin anymore either.  well, there might be a few novelty machines, but not many... |
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Valued Member
United States
102 Posts |
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I don't think Vegas takes (or pays out) in coin anymore either. well, there might be a few novelty machines, but not many... Kinda takes the fun out of it. Instead of walking around with a bucket of money you get a tiny slip of paper... Though I stick to Texas hold'em these days so I don't miss it too much. |
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Pillar of the Community
United States
1547 Posts |
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well. I agree with what one person said already, that certain banks order coin already becuase of merchant supply and demand..
it makes sense. I don't believe you didn't know that. Look, here's the deal. When it's a small bank or credit union, they may be ordering, "as they go." They simply don't have the retail customers the majors do. When it's a bank like Wells Fargo, the odds are, they're "contracted." What that means to you is, it doesn't cost them any extra each month to order your boxes or to redeem your dumps. The smaller ones, OTOH, may incur a "special fee" when they do that, and, as such, understandably pass that fee onto you. With the majors, however, that's never the issue. Their only issues are the fuss they personally have to go through to accommodate your requests. You've got them thinking, now. That's why they're treating you this way. I've been over this ground, I know. I had a real sweet deal, once, on two boxes a month, from a major. I got a little imposing, and I upped it to two boxes a week. That's all it took. Within only about four or five weeks of that, the "bank policy" is, $25/box! I quit ordering from that branch, and went to another branch, and, guess what? No such "bank policy." Some food for thought... |
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Bedrock of the Community
United States
17884 Posts |
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Most banks that I have talked to are paying to handle coin under a contract. Normally it's not a 'per bag' fee. what does the contract say? It would not surprise me for there to be a maximum limit per trip. Go over that and they might still be charged. Many flat rate contracts work that way. The contract is negotiated based on a certain average sized work load and a "buffer' is added because sometimes the load will go over average. But go over it the average consistently or to a greater than allowed extent and extra charges apply. |
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Locked
822 Posts |
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Are we really being penalized for spending American coins now? Nope, and don't know where you got that idea. That's not what's being discussed here. |
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Pillar of the Community
United States
1547 Posts |
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what does the contract say? It would not surprise me for there to be a maximum limit per trip. Go over that and they might still be charged. Many flat rate contracts work that way. The contract is negotiated based on a certain average sized work load and a "buffer' is added because sometimes the load will go over average. But go over it the average consistently or to a greater than allowed extent and extra charges apply. Conder101, I believe it's tied into weight. I may be wrong. At any rate, while you're operating within their contractual limitations, the contract is absorbing your orders, and you're fine. There may very well be those contractual limitations, though, I agree with you. |
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New Member
United States
42 Posts |
FWIW, I dropped $100 in nickels at a Wells Fargo yesterday and there was no charge. I'd say try another branch somewhere.
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Moderator
 United States
16679 Posts |
I use my little sorting machine and roll them myself. I'm not into paying an 8% fee for using coinstar.
swcoin.ecrater.com
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Pillar of the Community
United States
1080 Posts |
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I use my little sorting machine and roll them myself. I'm not into paying an 8% fee for using coinstar. except my Wells Fargo won't take rolled coins... Chase, however, only takes rolls... but credits you several days later. |
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New Member
United States
33 Posts |
wow some of you guys are realy lucky, I got a chase back here that I use(where I got my first 2 boxes of pennies), they don't have a coin machine, also had a BOA account and they said when it comes to coins, they bag them, send them off, and about 12 to 14 days later my account will be credited because they have no machine. called around to a few banks, and finally found one tha has a coin machine, didn't think to ask if they charge customers, guys I should do that before I open the account.
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Valued Member
United States
372 Posts |
My banks ( 3 ) in North Carolina haven't had any halves for along time. I usually search them and then pay for my gas and groceries with them. I usually travel and it is nothing to drop $ 35.00 worth of halves for gas, $ 5.00 at a burger joint- walley world. I also pay in halves at the S C State Park for entry. I uusally get to the entry window before the clerk arrives and proudly pay with Halves and take my receipt, so if their is any questions if I payed, I ask in return how many 50 cent pieces did you get today.Anyone can drop $ 100.00 worth of Kennedy halves in no time. |
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Pillar of the Community
United States
1042 Posts |
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also had a BOA account and they said when it comes to coins, they bag them, send them off, and about 12 to 14 days later my account will be credited because they have no machine After reading that, I'm now feeling really lucky. My local BOA doesn't even ask me to swipe my card when I return my coins. No matter if I'm swapping them for boxes, or asking for cash. I have my account # and the total $ amount written on the coin bags before I hand them over. As of my last statement with them, I've got less than $7 in my account. I've been doing this for almost a year now and have never had any problems. |
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Posted 09/13/2010 1:35 pm
