What's Your Experience Cashing In Your 20for20-S At The Bank?

Thanks John100,

But what do you do when your bank flat out says NO! I explained to them that there was a procedure but they wanted nothing to do with it. I understand that it's extra work for their employees, but that's what they're paid for, to work. LOL. It's not like we're asking them to do something totally different from what's in their job description.

I read a long time ago that some people had better luck with RBC. I don't have an RBC account.

Think if I go to an RBC as a walk in client they'll do it?

Anyone else have better luck.....?

I don't think I'd have any trouble cashing them in at my bank(RBC). If I did there would be one large withdrawal before I walked out the door !LOL

Thanks silverwolf, but I don't think this topic was discussed (i.e. post which banks specifically have accepted your 20for20s and which have not). If I'm wrong please point me in the right direction and sorry.

You're right John100 I guess it's easier if you already have an established relationship with a bank. I think though, most of us don't.
My goal is to try to single out the banks that are already aware of the procedure for exchange to make life easier for those who want to do it.

Anyone else willing to share their experience.....

If I ever tried it I wouldn't go to my own RBC branch because they know me and there wouldn't be any problem, I'd take them to the TD or BOM across the street where I'm a stranger...that would be the test !
I agree John100, the bank fees are endless!

Mts:Just trying to test if my bank, or any bank for that matter, will exchange some 20for20s and how easy it is to do so.
I was trying to exchange the reindeers. I'll sell you a couple if you want them. But still going to try and see if I could exchange some.

Btw: John100, true bank fees are endless. Try opening an ING account. No fees.

I bash the banks for being greedy like charging business customers a fee for depositing cash, ect. but if I managed a branch I would not accept 20 for 20 coins except for existing customers because it creates much paperwork and the cost of sending the coins back. Hard to do business with only an online bank, my guess if you experiment trying to cash in these coins at random banks you will be very disappointed, maybe 1 in 20 if your are lucky, good luck!

I've mentioned this on numerous forums, and multiple times.

RBC has a special partnership with the Royal Canadian Mint. They know how to accept these back. Other banks can do this as well, but most won't know how.

Simply walk into any RBC bank and tell them you want to cash in uncirculated coins.

They'll usually ask a branch manager etc. as the tellers won't know.

I have an account with RBC with barely anything in it (A few hundred at most) and have a transaction occur (whether withdrawl or deposit) once in a blue moon. I've gone to the branch itself only for the deposit of these coins.

The branch I went to was in a suburb, so its not even the downtown branch, they simply called their headoffice and they sent em over some forms they needed to fill out.

For those claiming its not worth the banks time to do this. The Royal Canadian Mint pays the banks a fee of something like 5% of the face value when accepting these in as deposits (per one of the forms, I can't rememeber the exact % value).

It could take time, but it will get done. Mine took a couple hours, but then again I walked in with 100 coins.