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 Replies: 21 / Views: 4,385 |
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Pillar of the Community
United States
2910 Posts |
I walked into a local BofA branch, one where just two weeks ago I cashed in $50 (their limit for over the counter transactions that won't be held 7-10 days for processing) and was told effevtive today that I would no longer be allowed to cash in ANY amount of coin (even a roll of cents) without the amount being held. Since I own a credit card with them, they would let me cash in coins before as long as I stayed under the $50 limit, but no more.
Since I closed my checking account there a couple of months ago, this effectively ends my business relationship with them. I'll be canceling my credit card with them as a result. 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
634 Posts |
Good. Those banks never seem to be any good. Sadly, the free rides on coins seem to be ending.  |
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Pillar of the Community
 United States
2910 Posts |
Of the big banks, BofA seems to be far and away the worst one. Most major banks are open on Saturdays, while some (such as US Bank and Wells Fargo) also have Sunday hours at the in-store branches. All of the BofA branches where I live are only open 3-4 hours on Saturdays. All of the other major banks which do business around me are open at least 7 hours on Saturdays.
If you're a bank, you're supposed to deal with money by definition... The way I see it, some of the big banks seem to not want to be banks anymore. As I referenced elsewhere, CitiBank is already trying to go "cash free" in other countries. I haven't had very good experiences at CitiBank either - they really seem to hate non-Customers.
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
2589 Posts |
Do they put holds on any type of physical currency over $50?
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Pillar of the Community
United States
519 Posts |
B of A has always been good to me. Almost all of my crh silver came from there. I have never had any problem with them.
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Moderator
 United States
188052 Posts |
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If you're a bank, you're supposed to deal with money by definition... For a profit. If a service costs them more than they get in return, it goes bye-bye. The only thing you can do is what you said you would do, take your business elsewhere. |
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Pillar of the Community
United States
1306 Posts |
I never thought I'd get to vent on B of A here on a coin forum, but we recently just finished pulling all of our money out, after 19 years. I consider myself very loyal, but I could only take so much. My first blowup, was over the fact that they would not cash a personal check made out to me. I even went to the bank manager, and was refused. I was fuming at this point, if not for my wife, I would of pulled every penny out that day. I told the lady that I'd been banking there for over 15 years, and had cashed more checks than I could count.I pulled half of our money out after this.
My second and final blowup 4 years later, was over phone deposits being halted within my first week of making deposits on a newly switched over account, telling me that I was a "new account". I had just moved money into a new account, only because of a change of name on business account. They neglected to inform us on limited phone deposits. Well within a week we were told that we were maxed out on making deposits by phone. I walked in and personally told them that we'd never had limits before, but she told me that we were considered a new account, never mind I'd had my money in there for 19 years, and that was just how it was with a new account. I told her right then and there I was done playing around. I called my Chase bank, and spoke with my personal banker, and he told me I would have a $100,000 limit on phone deposits, not that we'd ever reach that in a month. They lost a 6 figure business account over their stupid lack of customer service.
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Pillar of the Community
United States
2910 Posts |
Sorry for your awful experience with them, thecoinguy1964. Why wouldn't they cash a personal check? That's just bizarre!
Other than small branches which have small safes (and can only take in a limited number of rolled coins), I haven't had many problems with Chase.
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 |
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For a profit. If a service costs them more than they get in return, it goes bye-bye. I don't think it's even that with these guys. I think their goal is to get rid of coins completely at some point in the very near future. I mean they wouldn't even take ONE ROLL of pennies for crying out loud! Thank God I have lots of other banks in the area. Quote:
Do they put holds on any type of physical currency over $50? No, it was only for coins. They ship them to their central processing plants in bags... It will be quite silly to see them shipping a 50 cent roll of pennies in these big bags now. Then again, BofA has never been the most efficient bank around. Quote:
B of A has always been good to me. Almost all of my crh silver came from there. I have never had any problem with them. Consider yourself lucky. I doubt your luck lasts much longer with them. CRH Nickeloholic. 1,600,000 nickels searched in eight years! Have found FOUR complete Jefferson sets!
Edited by John77
03/02/2017 10:40 pm
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Moderator
United States
188052 Posts |
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I don't think it's even that with these guys. I think their goal is to get rid of coins completely at some point in the very near future... You may be right. To be clear, their problems go beyond any inconveniences to CRH. Too big to fail?  |
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Pillar of the Community
United States
4333 Posts |
Yes, the goal of the TBTF banks is to go completely cashless.
When I listen to LED ZEPPELIN...so do my neighbors...
Roll hunting since '77
Dirt fishing since '72
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Pillar of the Community
United States
624 Posts |
I use Santander Bank in the Boston area. They take the rolled coins and credit the account. They don't count them, or check them. It's a small town and they trust that it's accurate. I have got good at stacking the coins like poker chips and am always certain that they are right, but you never know if people are being sneaky or not. I was actually surprised when they just took them and put them in the drawer the first time.
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Valued Member
United States
127 Posts |
COINSTAR machines. No problem getting rid of your coins.
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Pillar of the Community
United States
2910 Posts |
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You may be right. To be clear, their problems go beyond any inconveniences to CRH. Too big to fail? Yup, the government saved them the one time... I would think with the relaxed regulations happening as a result in the change of President that banks would want to do more to get customers. Maybe they want to fail. Quote:
Yes, the goal of the TBTF banks is to go completely cashless. Sorry, not familiar with this TBTF acronym, fistfillofart. What does it mean? Quote:
COINSTAR machines. No problem getting rid of your coins. Which is fine if you like losing 11% of your money every time you use one. NO THANK YOU! CRH Nickeloholic. 1,600,000 nickels searched in eight years! Have found FOUR complete Jefferson sets!
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Moderator
United States
188052 Posts |
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Sorry, not familiar with this TBTF acronym, fistfillofart. What does it mean? Too Big To Fail.  |
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Pillar of the Community
United States
2910 Posts |
Thanks, jbuck. I *should have* been able to figure that out... CRH Nickeloholic. 1,600,000 nickels searched in eight years! Have found FOUR complete Jefferson sets!
Edited by John77
03/06/2017 2:55 pm
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Replies: 21 / Views: 4,385 |
Posted 03/02/2017 3:30 pm
