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 Replies: 6 / Views: 2,999 |
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Pillar of the Community
United States
622 Posts |
I've taken a little different approach to how I divide my withdrawals/deposits while crhing. You hear the phrase 'don't dump where you eat'. Well, I basically split my dumps/buys between my two main banks. At BofA, I buy halves and dump cents, nicks, and dimes. My regional bank, I dump the halves, and buy the cents, nicks, and dimes. I figured I would have a better chance at not burning any bridges if I spread out my dumps. I have a couple credit unions that I use in relief, but they can't handle large dumps. I've spoke with the head tellers at both locations and I knew they were good with it. However, One of my tellers from the Regional bank calls with the dreaded news. I guess the Corporate Office, in a different town, started noticing all the coin going in and out and decided to institute a fee for deposit AND withdrawal. The kicker is its a flat 3%. I don't mind paying 3% on cents and nicks. Matter of fact, I have a big backup of cents that I planned on separating the copper from. I'm kind of irritated and I want to bring about $800 in cents all at one time and tell them I'm happy to pay 3% on the 80,000 cents. But I know that probably wouldn't be the right thing to do. This really throws a kink in my process. This is our 'household' main checking account. So I guess I'll continue to use them for buying cent and nickels. But I need to find a new dump location for the Halves and a buy location for Dimes. This sucks. I know...I know...it happens to most all if you do it long enough.
OO
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Valued Member
United States
397 Posts |
That does stink, but it is something that is coming up more and more. I dread my banks in the area starting to do this, but I don't search boxes of halves. I currently keep a rotation of a box of pennies, $50 in dimes, and $24 in nickels. For quarters I usually have no more than $80 I am rotating, and usually I never cash back in quarters because after I search through them, my culls get used for laundry.
Only thing I could recommend is asking for the policy in writing, and if they don't want to provide it, ask how a policy can be enforced if it isn't in writing.
I've had one teller say it was a branch policy not to accept more than $10 in coins, and when I asked for the policy in writing, they caved and said there was no policy, they just didn't want to handle the coins.
Another time a branch manager said it was a company policy to charge a fee for any "buys" over $50, and when I asked for the policy in writing and a corporate number to call to discuss the established policy, he backed down and said I wouldn't be a problem as long as I kept my activity to less than $1,000 per week (a big difference between the two numbers).
So asking for a written policy might at least let the bank know you won't just roll over about the situation.
And of course, the easiest thing to do it just walk away and try another branch. I'd be curious to see if you went into the next closest branch and seeing if they cite the same policy issued by the Corporate office in the different town.
Edited by MadMortician
05/31/2012 6:22 pm
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Pillar of the Community
United States
1770 Posts |
yea owass I'm having a hard time buying halves now, since I got hit with the .15 cent per roll fee it really stinks big time, really takes the fun out of roll searching but when theres a will theres a way!
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Pillar of the Community
United States
4333 Posts |
Fees bleeeech! I have 6 diff accounts and none of them charge fees except one, and I've been battling them over that, but it's a non-crh issue regarding direct-deposit.
Good luck
When I listen to LED ZEPPELIN...so do my neighbors...
Roll hunting since '77
Dirt fishing since '72
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Pillar of the Community
United States
632 Posts |
Halves are a red flag for banks in my opinion, because no one uses them for transactions anymore. If you order halves bank know your a roll searcher....
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Pillar of the Community
United States
530 Posts |
Owassokie
throw up 40$ in another bank, with lots of branches, and use them to cash in your halves. I had to give up getting boxes from chase, their computer would charge my business account, if my card was swiped when I got boxes, they reversed the charge for me the first time, the second time I let it go, but never get boxes there anymore, which was fine, I didnt get halves from them, just other denomanatons. I have a small business and a 50% partner, 3 accounts there, and couldnt have any ripples in my business account .
One of the banks I use has a real good branch near my home, I'm gonna talk to them about dumping 6 boxes of halvesa week, gonna ask if I can use coinlock bags, and somehow declare the value, and get my cash back immediately upon drop off, that would be real easy for me.
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Pillar of the Community
 United States
622 Posts |
Fistfull- I'm having an issue with a direct deposit too! Bank told me if I direct deposit $250 per month, they would wave the monthly fee. I deposit $125 every 2 weeks (more than $250/month). They charge me a monthly fee. I inquire online and they say it needs to be a 1 time deposit of $250 monthly...Bleech!! Guy at the bank acknowledges he wasn't aware of the policy when he advised me. Said he's working on it, but he's dragging his feet. Monks is right about this guy taking the fun out of it. I absolutely love this hobby but its getting harder and harder.
HH / MadMort, I'm taking both of your recommendations under advisement right now. The teller that called me actually enjoys me coming in. Almost flirty, and definitely honest with me. She's told me which tellers enjoy, don't mind, and hate working with change from us CRHers. She waves me towards her every time she sees me. I really don't think she would just say it, but you never know.
OO
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Replies: 6 / Views: 2,999 |
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Posted 05/31/2012 6:43 pm
