Do The Way Banks Handle Deposits Differ From Bank To Bank?

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Author	Replies: 4 / Views: 1,652
Left Valued Member United States 240 Posts	Posted 10/27/2014 7:07 pm Usually when I go in to deposit unrolled half dollars, they pull out a bag and write The Depositors name and account number on it. I went to a different branch of Chase today to deposit. They wrote my name on the bag, the address of the bank(where they usually put my account number),date, and in the amount said "subject to count". They then wrote me a hand written receipt that stated the date, my account number, and it says "1 Bag of Coin" "Subject To Count" and It was signed by the teller. I didnt get the receipt from the bag that they usually tear off and give you. It seemed like they didnt know what they were doing. Do the way they handle coins vary from bank to bank? Am I stressing out for no reason? I certainty dont have my money lost in transit. Left Report this Post to the Staff

CoinCollector2012 Pillar of the Community United States 8137 Posts	Posted 10/27/2014 7:25 pm Do you mean loose coin or rolled coin. For loose coin, my bank just counts it up and credits the amount to my account if I am depositing. For rolled coin, they count the rolls in these metal trays they have and credit the amount to my account. I have never had any experience like yours. Report this Post to the Staff
Rackster Pillar of the Community United States 4809 Posts	Posted 10/27/2014 8:28 pm My bank does not have a coin counting machine, so all deposits must be in rolled coin. It's a guess on my part, but if you are depositing a significant number of halves, it may be that they have to count coin on off-peak periods, so they credit you the amount subject to count. If they count wrong, you might get gigged a bit. Otherwise, they'll confirm the deposit and credit/debit as appropriate. Report this Post to the Staff
fistfulladirt Pillar of the Community United States 4333 Posts	Posted 10/28/2014 05:12 am I never had to deposit. My method involved taking in a ($500) bag of dimes, halves, etc..be it rolled or loose, and getting cash immediately. If I brought in a bag of rolled coin, the gals would have to unroll it later before sending it out. They never counted, and neither did I. The courier tallies by weight. I never had an over or under count in five years. When I listen to LED ZEPPELIN...so do my neighbors... Roll hunting since '77 Dirt fishing since '72 Report this Post to the Staff
Danhelmick98 Valued Member United States 330 Posts	Posted 10/28/2014 06:26 am At my bank they count the rolls and put them in the metal trays. I usually ask to cash the coins too. Report this Post to the Staff
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