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 Replies: 16 / Views: 5,511 |
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Pillar of the Community
United States
7508 Posts |
I live in suburb of chicago,have opened four bank accounts with four different banks since banks around here refuse to give out any rolls unless you are their customer ! and now these banks claim they cant get new rolls of quarters,dimes,pennies! I frequently see 2016 dimes and quarters in change from grocery stores and when I ask where they get it from their answer is the Armored car brings them !
Any suggestions?can banks really refuse you if you are not their customer?
*** Moved by Staff to a more appropriate forum. ***
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Bedrock of the Community
United States
11951 Posts |
The banks can not order new rolls of coins. They take what ever comes in.
A suggestion, get to know the head teller. If the tellers like you when new
coin rolls come in they will call and let you know.
I always try to get along with my tellers, if they were a group I did not like
I would get a new bank.
Bringing donuts seems to help for me.
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Valued Member
United States
127 Posts |
Sometimes, the smaller banks will help you out. I live in a very small town. My bank will let me know when new rolls come in. Although big banks use more coins, they usually have other collectors asking for new coins. Get to know the head teller.
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Pillar of the Community
 United States
7508 Posts |
Thank you, will follow your advises!
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Pillar of the Community
Canada
9156 Posts |
The story I get is 'we don't get rolls from Brinks because we have enough coins on hand'. that is from all banks in this town.
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Rest in Peace
United States
18456 Posts |
It's a hit or miss thing with banks . One day they'll tell you they don't have any new date rolls and a weeks later they can be flooded with them . It's quite frustrating when you know you'll eventually find them at face but wind up buying some rolls from E-Bay because you don't want to wait months to get them .  |
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Pillar of the Community
United States
7508 Posts |
 T-bop |
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Bedrock of the Community
United States
20753 Posts |
You really have to get to know a teller well. They usually can tell if a roll is all new coins. And they tend to give them to people they know. Unfortunately in the Chicago area there are so many banks and great turnover in personal. This makes it difficult to get to know anyone in a bank.
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Bedrock of the Community
United States
17884 Posts |
And to answer your final question, yes banks can refuse you if you are not an account holder. Now hold onto your hat, they can refuse you even if you are an account holder. The bank is NOT obligated to provide you with rolls of coins even if you have an account with them.
Edited by Conder101
03/05/2017 04:55 am
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Moderator
 United States
187840 Posts |
Quote:
And to answer your final question, yes banks can refuse you if you are not an account holder. Now hold onto your hat, they can refuse you even if you are an account holder. The bank is NOT obligated to provide you with rolls of coins even if you have an account with them. |
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Pillar of the Community
United States
2910 Posts |
The armored services (Brinks/Garda/LOOMIS/etc) only will get coins from the US Mint if they need them... if they have enough coins on hand, no need to get them from the Mint. Back in 2009 when the recession was hitting hard, banks and the armored services didn't need coins as they were getting turned in by customers en masse. As a result, the Mint didn't produce a lot of ANY denomination that year.
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
7508 Posts |
Thank you all, I have a more clear perception of this process now !  oh yeh I'm gonna hit my kid's coin jars today! |
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Pillar of the Community
United States
1963 Posts |
Well, technically it is not a banks job to provide you with rolls.
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Pillar of the Community
United States
2910 Posts |
Quote:
Well, technically it is not a banks job to provide you with rolls. True if you're not a customer of theirs. A bank's primary function is to deal with money whether that be paper or coin, so if you are their customer then it is part of their job - otherwise they would no longer be considered a bank. An FYI to the OP - the new rolls of coins have made it out here to the West coast... LOOMIS made a delivery to some of my Wells branches recently and I picked up 24 fresh new rolls of 2017-D cents yesterday. CRH Nickeloholic. 1,600,000 nickels searched in eight years! Have found FOUR complete Jefferson sets!
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Moderator
United States
187840 Posts |
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A bank's primary function is to deal with money whether that be paper or coin, so if you are their customer then it is part of their job - otherwise they would no longer be considered a bank. Not true, their primary functions are to take deposits and create credit. They can certainly limit how those deposits are taken, just as they limit how that credit is issued. The bottom line is that banks serve their bottom line. These banks have decided that handling rolled money affects that bottom line more that not handling it (by lost customers). It is demand from retail customers that forced banks to handle rolled coin at all. As costs went up, we started seeing them limit roll handling to commercial accounts (at least the ones they could not afford to lose). Now it seems they can exclude them, or at least consolidate them to certain branches, if they can get away with it (by not losing customers that generate profit). |
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Forum Dad
United States
24150 Posts |
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I live in suburb of chicago,have opened four bank accounts with four different banks since banks around here refuse to give out any rolls unless you are their customer! If caring roll hunters like yourself would each volunteer say 15 hours a week (for free) to roll coins and deliver them where other roll hunters want them in your own personal vehicle, then maybe they would. You see the people that do that stuff now have the gall to want to be paid not only for their time, but get this nonsense, gas, tolls, wear and tear on their vehicles and crap like that too! The nerve! |
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Replies: 16 / Views: 5,511 |
Posted 03/04/2017 12:30 pm
