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 Replies: 23 / Views: 13,667 |
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New Member
Canada
15 Posts |
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Uhhh.... no.... it's a draw for freeloaders.
Do you think the machines that roll them are free? Do you think the wrappers are free? Do you think the truck that brings them is free? Do you think the gas is free? Do you think the guy that drives the truck works for free? Do you think the insurance for that truck is free? How 'bout the gun the guy carries to protect your precious free rolls? Free too?
But you think your rolls should be free so you can make money while the bank foots all the bills to supply you with them. That's just ridiculously absurd thinking. Pay the 16¢ a roll and be glad it's not more or stop roll hunting.
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. |
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Locked
822 Posts |
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You really think banks are going to be worried over making 16¢ per roll? Obviously they are tired of throwing money in the CRH hole. Duh. Quote:
They are making millions off our interest rates, us keeping money in our accounts. Really? Just got notified Wednesday that the bank that holds my mortgage filed chapter 11. Banks are folding and being absorbed like crazy. Quote:
However, think what you want, you won't see any other banks following suit. Think what you want, but a quick search of this forum will tell you this trend has been continuing for years.  Edited by scubu
05/25/2012 3:45 pm
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Pillar of the Community
Canada
933 Posts |
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
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Valued Member
Canada
386 Posts |
Several tellers have told me in the past that they usually have a surplus of rolls in the vault and they send them out by armed car every Thursday or Friday. So giving them out to CRHs is only a few minutes of effort on their part. This might be different now because of everyone hoarding pennies.
Most banks have an official policy in their services pamphlets stating there is a charge per roll.
But it is rarely enforced except when someone is ordering excessive amounts of rolls or simply the teller is too lazy to be bothered to serve the customer. It has happened to me once where they wanted to charge me and I quickly went to the manager's office and threatened to take my bank accounts, credit cards, insurance and retirement investments to a competitor across the street. Needless to say, I got my rolls for free and an apology from the teller.
Banking is a very competitive business and it does not hurt to remind them you have other options once in a while.
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Valued Member
Canada
262 Posts |
My bank already charges non-customers, only a matter of time...
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Rest in Peace
United States
2668 Posts |
Ya know, Scuba, iffen you weren't a skinflint you would pay 16% more on your mortgage payment. Keeping all of you year in and year out loan payers on the books obviously forced them into bankruptcy. Do you think that lousy interest you pay is enough to keep them going? It's people like you, whom expect something for nothing, that are causing all of the bank failures and bankruptcies. [/sacasm]  |
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Pillar of the Community
Canada
1354 Posts |
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.
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Pillar of the Community
United States
2295 Posts |
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you guys can still get canadian penny rolls? I tried 2 weeks ago, all I got from RBC is rolls of US penny That is funny to hear. Quote:
I think that it's not done for any monetary reasons, because to a bank, charging 16 cents 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. I would think this is the real reason too. Most banks hand roll coins, so it is labor intensive, which just adds to their costs. It is interesting to hear how banks run their business. Are you still able to get rolls of cents from banks now that they have stopped minting them? Are people hoarding them more now? It might be too early to tell, but I would think it would start to happen now. Edited by wquinn
05/30/2012 10:27 am
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Replies: 23 / Views: 13,667 |
First Page
Posted 05/25/2012 1:00 pm
