| Author |
 Replies: 21 / Views: 4,080 |
|
Valued Member
United States
258 Posts |
Today I decided to dump some excess modern coins I had in my collection that weren't worth more than face value and just took up space. I've known for a couple years now BB&T charges fees for using their coin counting machine depending on if you're an account holder and by how much you dump. Since I have an account there I can empty up to $25 in change without being charged, but if you go over that amount they take 5%. I always made sure I wouldn't be charged, but today I didn't realize how much change I was ridding myself of. Low and behold I got charged $1.65. Granted that's like nothing and I was happily surprised I had that much to dump. I just got annoyed by the fact that they charged me to exchange my legal tender for other legal tender.  So how many other roll hunters out there have problems with fees at their dump banks? *** Moved by Staff to a more appropriate forum. *** |
|
|
|
Pillar of the Community
United States
964 Posts |
not me. The day it happens will be a sad day.
|
|
Pillar of the Community
Canada
726 Posts |
In canada here no.. be a day for me to freak out at some Manager...
|
|
Valued Member
United States
446 Posts |
I've never had a problem getting $50 or $60 for rolled coin.
I took a different tack when I bought my box of JFKs. I took them to another branch and deposited them into savings. I figured that if I was going to move money from checking to saving, I may as well get it out in half dollars, and then re-deposit them from time to time.
I also kept some JFKs to help out with the $100K campaign detailed in another thread.
|
|
Pillar of the Community
Canada
1747 Posts |
I exchange upto $500 at a time, and no real issues in Canada, one of my banks in Surrey now has the first coin machine in Western Canada, so I may even try this.
|
|
Valued Member
United States
309 Posts |
dumping fee is a scam, I would close my account and find a bank that wants my business. I drop about $650. in rolled halves and walk out with cash, I usually use merchant lines or different entrances at banks no problem
|
|
Pillar of the Community
United States
4809 Posts |
I have one teller in one bank give me the song and dance about dumping and fees associated with it. Each branch has an allotment assigned regarding how much coin they can have in their vault. This includes outbound coin going to customers and inbound coin coming from customers. Depending on policy, banks normally won't give out inbound coin to customers for fear of short changing them. So they have to sell inbound coin to Dunbar or the like. This costs money so they pass along the costs to customer. But banks do this all the time and depending on how much you dump, it may not raise an eyebrow. Finding a collecting branch is your best bet as your dumps are less noticeable. I found mine but it's the one that the nasty teller works at so I have to listen to her gobblespeak and blather occasionally. As it would be, I spoke with the branch manager where I pick up boxes and she offered to take my inbound coin back for return to Dunbar. A very nice gesture. Problem solved.
I like my bank and would hate to leave them over one nasty teller. And no doubt they'd prefer customers stay over a few dollars in operating expense.
|
|
Pillar of the Community
United States
4333 Posts |
Never understood why anyone would pay a fee for dumping or ordering.
When I listen to LED ZEPPELIN...so do my neighbors...
Roll hunting since '77
Dirt fishing since '72
|
|
Pillar of the Community
 United States
4591 Posts |
Believe it or not, banks are in business to make money for their stockholders.
Once upon a time, they covered costs by paying 5% passbook interest and loaning money out at 6% or more. That covered all the costs, fancy offices, toasters, etc. No longer. So if something costs them money, they charge fees. Customers who spend money at the bank (e.g. commercial clients) get preference.
If EVERYBODY starts refusing to accept coins or charging fees, guess what? You pay or give up your hobby. You actually have no g*d given or constitutional right to buy boxes of coins or dump them for free.
-----Burton 50+ year / Life / Emeritus ANA member (joined 12/1/1973) Life member: Numismatics International, CONECA Member: TNA, FtWCC, NETCC, EveryCountry (online) coin club Owned by three cats and a wife of 40+ years (joined 1983) Author: 3rd Edition of the Sample Slabs book, https://www.sampleslabs.info/ |
|
Valued Member
United States
352 Posts |
dont you guys reroll your rolls? I do and have no problems with the tellers..i shove 50 rolls at her and tell her want a box..no drama at all
|
|
Pillar of the Community
Canada
1747 Posts |
When I go through a roll, I automatically put my "Over-Burden" into a roll, and when its full I put it aside and make neat bundles of 10 rolls using elastic bands. it makes it easier for the teller and myself to count up.
I would just fill the roll back up to where it had been bent at the top, however I had one teller open a few rolls, and noticed they were short. Ever since then I count then fill up the roll.
My main rule of thumb is to make the tellers job as easy as possible, and be as polite as possible.
|
|
Pillar of the Community
United States
4333 Posts |
Find a bsnk with no fees. Easy.
I re roll dimes, thats all I search 'cause it's 1/$150.
Dump over the counter (rolls). Get cash immediately. I do it.
When I listen to LED ZEPPELIN...so do my neighbors...
Roll hunting since '77
Dirt fishing since '72
|
|
Valued Member
United States
352 Posts |
QUOTE ace_ftw i just fill the roll back up to where it had been bent at the top.however I had one teller open a few rolls and noticed they were short thats why I us this thing..  it has a notch at fifty...keeps me out of hot water..and is quick |
|
Bedrock of the Community
United States
12829 Posts |
My bank doesn't accept rolled coins nor is there a counter at any of the local branches. They just have you dump it in a big deposit bag and they send it to a central bank for counting. Then a couple days later I see a credit to my account.
|
|
Pillar of the Community
United States
4333 Posts |
Quote:
My bank doesn't accept rolled coins nor is there a counter at any of the local branches. They just have you dump it in a big deposit bag and they send it to a central bank for counting. Then a couple days later I see a credit to my account. No way I could deal wit dat - time to find a new bank! When I listen to LED ZEPPELIN...so do my neighbors...
Roll hunting since '77
Dirt fishing since '72
|
|
Pillar of the Community
United States
964 Posts |
I'm spoiled I guess. I couldn't imagine rolling my coins after I look through them. If coin counting machines go away, I'm in big trouble with the quantity that I do.  |
| |
Replies: 21 / Views: 4,080 |
Posted 06/02/2014 5:48 pm
