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Replies: 46 / Views: 5,019 |
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Pillar of the Community
United States
2200 Posts |
I went to a bank that was not mine last week because I wanted to get some change to use as toll money. The teller asked me if I was a member of their bank, and I said no. She then called over to the manager to ask her if it was okay. The manager said, sure, we'll let you slide this time.
I didn't understand. I wasn't cashing a check; I was simply presenting a five-dollar bill and asking if they could turn it into coins.
I'd never had that sort of a problem before. Every other time, the teller was happy to do it and didn't even ask me if I was a member there.
Why would they be reluctant to simply exchange coins for a bill to someone who wasn't a member of their bank? Money is money.
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Pillar of the Community
United States
937 Posts |
Some banks are set on only dealing with their customers. Nothing anyone can do about it except 'join' and pay the fees and charges.
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Moderator
 Australia
16806 Posts |
You are asking for a service - moneychanging - to be done to you for free. I see no reason why a bank should be obliged to do this for you. Historically, they do, for PR reasons more than anything else, but they've never had to.
There is also a slight risk for the bank. They don't know you. Your note might turn out to be counterfeit. If you were a customer, they could track you down and ask for a "please explain", but if you're not, well, they're down whatever the face value of the note is. Poof. Gone. Why take that risk?
You could ask exactly the same question at the cash register of your supermarket. They'd be equally not obliged to perform this service for you. They might swap your note for coin, they might not, it would depend on the person operating the cash register.
Don't say "infinitely" when you mean "very"; otherwise, you'll have no word left when you want to talk about something really infinite. - C. S. Lewis
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Rest in Peace
United States
18456 Posts |
< SAP > In the good old days at American banks one could go to any bank they want ( no membership ) and purchase rolls of coins cents through halves without any hassles by the tellers . Perhaps OP is an old timer .
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Pillar of the Community
United States
7375 Posts |
I think banks not changing a bill for change is a joke. You were lucky they gave you the change. I was denied once when I tried to exchange a 10 dollar bill for a roll of quarters. Imo, banks are doing a very poor job, when they won't change a bill now and then. Needless to say, I never went back or had a nice thing to say about them since. My bank will do it as a service to non-customers a few times. That is good business. Gimme a break. I really don't like banks anyway, as you can probably tell. Are they doing us a favor by holding/using our money? A lot of them act like it. I already had a rant on the subject, and you reminded me of it. It never used to be a problem back in the day, but now all of a sudden getting a roll of nickels is a federal case. Joke. There are still plenty of banks that will do it no problem. Was in GA this spring, and went into a bank I didn't know and asked the teller if I could get a roll of quarters,(and waiting for a giant cartoon sledge hammer to come down on my head) with a smile, she said sure. A breath of fresh air. Why some banks have idiot policies I don't know, but they won't get my money. I remember when ATMs first came out in the 70s....the banks encouraged people to use them to lessen the teller lines and help them out, and there was never a fee.....now it's a "convenience" they charge for.
Edited by edweather 08/23/2016 09:07 am
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Bedrock of the Community
Australia
21786 Posts |
To present a $5 bill at a bank is to offer it as legal tender, in exchange for a service or other form of legal (cash) tender, - in this case for coins.
You have offered (tendered) the $5 bill - they don't necessarily have to accept it.
From the bank's point of view, the most efficient way of exchanging it for other types of cash, would be in Quarters.
From an Australian point of view, I am unaware of an American retail bank's strictly legal obligations to proceed with such a transaction. I assume that the bank's obligations to you are entirely optional, and would proceed from a customer relations standpoint.
From a commercial standpoint, if there is no profit in proceeding and you are not a customer, why should they bother?
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Valued Member
United States
411 Posts |
I have been using the same bank for over 20 years, went in the other day to get change for my store and the teller would not give me change, I said thank you and went two windows down , got my change. went back by the first and told her thanks for nothing , that I had my change.
went in about a week later and she was all over herself to please me, I went to the next teller.
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Bedrock of the Community
Australia
21786 Posts |
It seems that it has been left up to the judgement of the teller, rather than just a staff instruction.
Banks in Australia rarely deal with CRH'ers, regular customers or not.
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Valued Member
United States
186 Posts |
if your asking for quarters might be easier to find a car wash or laundromat
but then ...they mostly have signs for customers use only too
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Pillar of the Community
United States
2910 Posts |
The purpose of a bank has ALWAYS been to handle money. If they can't do this, then they're not doing their job.
CRH Nickeloholic. 1,600,000 nickels searched in eight years! Have found FOUR complete Jefferson sets!
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Pillar of the Community
United States
2910 Posts |
Quote: From a commercial standpoint, if there is no profit in proceeding and you are not a customer, why should they bother? To a person searching for a new bank, first impression is EVERYTHING! Before selecting a new bank to do business with, I checked with several to see which ones were most friendly to non-customers in handling transactions of this sort. In the end, I selected the one that I had the best experience with - the one who would go out of their way to help. And I have not been disappointed.
CRH Nickeloholic. 1,600,000 nickels searched in eight years! Have found FOUR complete Jefferson sets!
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Pillar of the Community
United States
2910 Posts |
Quote: I have been using the same bank for over 20 years, went in the other day to get change for my store and the teller would not give me change, I said thank you and went two windows down , got my change. went back by the first and told her thanks for nothing , that I had my change.
went in about a week later and she was all over herself to please me, I went to the next teller. On the rare occasion when I go to my old bank, I go out of my way to avoid one certain teller who I've had bad experiences with. The last time, I let THREE people go in front of me so I didn't have to deal with her.
CRH Nickeloholic. 1,600,000 nickels searched in eight years! Have found FOUR complete Jefferson sets!
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Moderator
 United States
14463 Posts |
I believe coin rolls from a supplier do cost the bank a little more than face value. Someone has to cover the cost of the truck, delivery person, wrappers, and etc. So, freely exchanging coins rolls with non-customers does cost the bank money.
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Pillar of the Community
United States
2910 Posts |
Quote: You are asking for a service - moneychanging - to be done to you for free. I see no reason why a bank should be obliged to do this for you. Historically, they do, for PR reasons more than anything else, but they've never had to.
There is also a slight risk for the bank. They don't know you. Your note might turn out to be counterfeit. If you were a customer, they could track you down and ask for a "please explain", but if you're not, well, they're down whatever the face value of the note is. Poof. Gone. Why take that risk?
You could ask exactly the same question at the cash register of your supermarket. They'd be equally not obliged to perform this service for you. They might swap your note for coin, they might not, it would depend on the person operating the cash register. "Moneychanging" isn't really a service. A bank is SUPPOSED to deal in money. If a person just wants to get some change and has currency, it's not supposed to be a problem. The reality is that banks which do this are simply doing it to be jerks. As for the "slight risk" to the bank, that's a bunch of garbage. All bank employees are taught how to look for the little threads in the bills and/or shine them up to the light to tell if they're real. The only "small risk" would be if the transaction were reversed and the customer was bringing in $5 of rolled coins in exchange for paper currency. I'm not sure why you would bring a supermarket into this. The purpose of them is to deal in food, and selling it. Unlike a bank, their purpose is not to deal with money. Also, if the customer is fed up with their old bank, or simply searching for a new one to do business with, a good first experience goes a long way in making that person more likely to choose to do their business with them at some point in the future.
CRH Nickeloholic. 1,600,000 nickels searched in eight years! Have found FOUR complete Jefferson sets!
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Pillar of the Community
United States
2910 Posts |
Quote: I believe coin rolls from a supplier do cost the bank a little more than face value. Someone has to cover the cost of the truck, delivery person, wrappers, and etc. So, freely exchanging coins rolls with non-customers does cost the bank money. This would be true, but hasn't that always been just the cost of doing business? And from a PR standpoint, this bank should be doing things which would entice them to open up an account there. Some banks, such as Bank of America, are really looking for any reason they can these days to not deal with coins.
CRH Nickeloholic. 1,600,000 nickels searched in eight years! Have found FOUR complete Jefferson sets!
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Pillar of the Community
United States
2910 Posts |
Quote: Some banks are set on only dealing with their customers. Nothing anyone can do about it except 'join' and pay the fees and charges. Yes. And sadly we're seeing more and more of it these days.
CRH Nickeloholic. 1,600,000 nickels searched in eight years! Have found FOUR complete Jefferson sets!
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Replies: 46 / Views: 5,019 |