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 Replies: 19 / Views: 1,678 |
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Forum Dad
 United States
24175 Posts |
Honestly, if I was a bank manager, I wouldn't do it at all. Not my job and it would cost me money.
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Bedrock of the Community
United States
94367 Posts |
Dump bank - bound to make it into the Oxford dictionary at some point.
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Valued Member
United States
303 Posts |
But, Bobbie we could take our money out of the bank and close the account... not good business.
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Moderator
United States
189502 Posts |
Quote:
But, Bobbie we could take our money out of the bank and close the account... not good business. I would not count on this. Unfortunately for you, they can afford to lose a few consumer accounts. |
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Forum Dad
United States
24175 Posts |
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Forum Dad
United States
24175 Posts |
A little story about banks. My son-in-law last year found paperwork on a CD his Dad had bought him like 15 years ago.
The selling bank had been bought and sold 3 or 4 times since, so like 4 bank names later he calls and they tell him they can't find it. After 2 months of calling every 2 weeks max, they tell him, now get this.... "We'll keep looking and if we find it we'll send you a check."
My daughter told me this and I called my teammate who is a lawyer with all the information. HE called the bank... they called back 30 minutes later, whaddya know, they found it. It was a 5K CD, he got a check for 16K in the mail 4 days later.
They were straight-up lying to my son-in-law, that's how much they care about you.
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Moderator
United States
189502 Posts |
A good reason for me to stick with my credit union. Coming up on 40 years.  |
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Bedrock of the Community
United States
19215 Posts |
Back to bartering--chickens for potatoes, and whatnot.
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Valued Member
United States
254 Posts |
Quote:
A little story about banks. My son-in-law last year found paperwork on a CD his Dad had bought him like 15 years ago.
The selling bank had been bought and sold 3 or 4 times since, so like 4 bank names later he calls and they tell him they can't find it. After 2 months of calling every 2 weeks max, they tell him, now get this.... "We'll keep looking and if we find it we'll send you a check."
My daughter told me this and I called my teammate who is a lawyer with all the information. HE called the bank... they called back 30 minutes later, whaddya know, they found it. It was a 5K CD, he got a check for 16K in the mail 4 days later.
They were straight-up lying to my son-in-law, that's how much they care about you. Absolutely wild story! I was in banking for a decade and this doesn't surprise me at all. I buy my dump bank (credit Union) breakfast every now and then (Chick Fil A, McDonalds, Bob Evans, etc) and those little gestures will do wonders. |
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Pillar of the Community
 United States
6561 Posts |
I took my buy bank kiffles and cookies at Christmas. And I only get $20 a week in nickels! =)
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Pillar of the Community
 United States
1791 Posts |
Turns out not all the penny rolls were mine. I came across a roll of lower quality wheat cents which had one 1902 Indian head in it. So I guess I will have to go through all of them thoroughly now. As far as the quarters, one DDO turned up. I wonder how many customers a bank would lose turning away coin roll hunters.....The tellers at the 2 banks I go to constantly tell me about other hunters. More people may be doing it than you think.. Edited by Seeker_101
05/16/2024 10:50 pm
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Moderator
Australia
16857 Posts |
Once coin roll hunters become the primary reason why coins are handled in bulk at all, then the banks will simply either stop supplying coins to non-business customers, or charge hefty fees to discourage such requests. And make everybody depositing coins use the Coinstar.
As for the "I'll take my money elsewhere" argument, if you're costing the bank more in coin handling fees than they're generating from investment of your deposited money, then I'm sure their attitude would be "good riddance, we don't want your kind around here anyway".
Don't say "infinitely" when you mean "very"; otherwise, you'll have no word left when you want to talk about something really infinite. - C. S. Lewis
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Moderator
United States
189502 Posts |
I have said it many times, enjoy the ride while you can. But when it ends, say thank you and move on. I did it over twenty years ago and survived.  |
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Pillar of the Community
United States
6561 Posts |
Quote:
As for the "I'll take my money elsewhere" argument, if you're costing the bank more in coin handling fees than they're generating from investment of your deposited money, then I'm sure their attitude would be "good riddance, we don't want your kind around here anyway". I would just like to point something out. The frontline tellers who fetch coins from the vault probably have no visibility into the bank's finances. They also probably don't care about making the tradeoffs between customer cost and ROI. The costs of having coin rolls available is a pittance compared to mortgage payments, auto loans, CDs. I would assume that they care about their specific management-assigned metrics around customer satisfaction. If you annoy them enough to risk their metrics, then the bank and its managers probably wouldn't blink to lose a small account. They might care if there were a danger of getting poked in the eye on social media or something. |
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Valued Member
United States
397 Posts |
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I mark my wrappers so at least I know if I get my nickels back, although I have a buy bank and a dump bank. Nice about the quarters, though. =) I also mark my rolls. However, I've had one bank teller say recently that they don't accept marked rolls, which was the first time I've ever heard that. I don't understand why they wouldn't. But needless to say, I don't go to that branch anymore. They're all a little surly over there. Edited by AllSeasons
05/18/2024 5:56 pm
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Replies: 19 / Views: 1,678 |
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First Page
Posted 05/12/2024 08:45 am
