Is The Bank Legally Required To Send Foreign Money Back

Ya I know they do that I was just curious about the foreign money that gets dumped in the reject slot of coin counters what they have to do with it lets say if the customer doesn't want it do the bank themselves keep it like an employee if they want it or does it legally have to go somewhere

There is no legal requirement. What a bank does with weird foreign coins deposited and detected by them is entirely up to them. A bank might have a bank-wide policy on the issue, or it might leave such decisions up to the local managers.

I'm sure some banks simply throw them away, or arrange for a scrap metal merchant to collect them. Some banks have arrangements with local collectors or coin dealers to regularly come in and take them off their hands. Some banks, particularly those near the borders with branches on both sides, might have arrangements to send supplies of the wrong country's coinage back across the border to branches in that country.

But I think it would be fair to say that no bank has a systematic coinage repatriation programme going. This doesn't even happen at the national government level. Coins are simply too expensive for banks and governments to be shipping them in bulk across the globe at face value.

Banks that offer a foreign currency exchange service and currency exchange businesses like Travelex never extend that service to coins; they only exchange paper money. Handling foreign coinage is simply too awkward; they can't be bothered converting the fiddly small change, even for relatively high-face-value foreign coins like the 1 and 2 euro and the British 1 and 2 pound coins.

In short, to find out what happens to foreign coins at your bank, just ask them. You never know, you might end up with a new source of bulk world coins.

wow thanks for all the input...definately going to ask the bank next time I'm in

Many definitely get counted/rolled. We find a variety of foreign cons in bank rolls at work from time to time.

I always reach down under the dump slot and check the magnets with my fingers. I usually find 5 or 6 foreign coins a week. Sometime a 1943 cent. However there is also a reject bin that is contained within the machine. It holds any other non-magnetic object that will not fit within the coin slots. I ask them and my banks said that they give the reject bin material to the person that cleans the bank. Probably a decent amount of silver and gold jewelry in there.