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Montreal Man Has $800 In Rolled Change, But Bank Won't Deposit It

 
 
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Valued Member
Canada
378 Posts
 Posted 09/18/2019  08:59 am Show Profile   Bookmark this topic Add Cdncoins to your friends list Get a Link to this Message
Is this a sign of times to come? From personal experience CIBC has changed the two closest branches to me to "advice" and no longer have traditional tellers that will give or deposit rolled coins.

https://ca.news.yahoo.com/montreal-...0000115.html
Bedrock of the Community
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United States
41234 Posts
 Posted 09/18/2019  09:20 am  Show Profile   Bookmark this reply Add Coinfrog to your friends list Get a Link to this Reply
Wow, that's quite a story - thanks for posting.
Valued Member
United States
163 Posts
 Posted 09/18/2019  09:23 am  Show Profile   Bookmark this reply Add fplagge to your friends list Get a Link to this Reply
Wow! I hope this doesn't spread to other banking institutions.
I wonder how small businesses are reacting to this - Surely they must need to both deposit and request rolled coins from their respective banks.
Pillar of the Community
Canada
4352 Posts
 Posted 09/18/2019  09:30 am  Show Profile   Bookmark this reply Add john100 to your friends list Get a Link to this Reply
The TD has cashless branches for many years, just go to a regular branch they might charge a small fee like 3/4% for the service, the bank is not going to lose a customer over 800 buck, cost them much more to acquire one
Bedrock of the Community
United States
29402 Posts
 Posted 09/18/2019  10:25 am  Show Profile   Bookmark this reply Add John1 to your friends list Get a Link to this Reply
Time for him to find a new bank. Small businesses have a business account that should take and give change to their member.If you do not have a business account,then the bank can refuse the transaction.
John1
( I'm no pro, it's just my humble opinion )
Searched 5+ Million Cents Since 1971
Valued Member
Canada
93 Posts
 Posted 09/18/2019  5:09 pm  Show Profile   Bookmark this reply Add inconnu to your friends list Get a Link to this Reply
So when the other financial institutions adopt this change what do we do with our rolled coins?
Pillar of the Community
Canada
565 Posts
 Posted 09/19/2019  07:49 am  Show Profile   Bookmark this reply Add Alex A to your friends list Get a Link to this Reply
The CTV news story showed protesters holding signs that it is "illegal" not to accept legal tender coins.

What exactly is the legal obligation of the bank for Canadian coins in Canada?
Valued Member
Canada
378 Posts
 Posted 09/20/2019  08:23 am  Show Profile   Bookmark this reply Add Cdncoins to your friends list Get a Link to this Reply
I know that CIBC won't accept 50 cent or nickel dollar coins. Last time I checked those were still legal tender. I think it is up to the bank, but ultimately if they are too restrictive and upset enough of their clients they may end up rethinking their policy.
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