Banks Throw Away The Foreign Coins?

I assume you saw this recent thread on the same subject?

I tried that at my bank and they said that they are required to throw them away, and can't give them away.

By me Bank of America and Chase both say that they must place all unaceptabale, odd looking, foreign or damaged coins and currency in a plastic bag and send to a main office. If they didn't, their accountants would probably have many people that work there arrested since their totals of everything MUST tabulate accurately. If a teller is short due to a slug, foreign coin, etc. they are accountable for that so they are all really carefull of what they do with everything that comes in.
I really don't see how any bank could just throw away such coins since their end totals would not compute accurately. Something in this story is just incomplete or else tellers and other bank employees could wonder off with a lot of real, USA money. And all they would have to say is we threw it out since it wasn't real.

Waredu,

That assumes the bank has an in house coin counter. None of the BoA branches arround me has one. Its rolled or loose, so if its missed or rolled, they have a record of it.

I've mentioned this in the past. If your bank still has such a counter, your lucky. They are slowly being discarded as a waste of money and time.
By me Bank of America and Chase and possibly some others no longer have coin counting machines. If you bring in any form of bulk coins they are placed in a plastic bag with your info on it, sent out somewhere to be counted, the results are entered into your account. And there is a charge for this service which is deducted fom the total. No account? Your sent a check and that too is a charge and that too is deducted from the total. If in rolls, there is still an addtional charge for someone to open them too.
A Bank of America officer was telling me that there are plans to add additional charges for any slugs, washers, foreign coins, etc mixed in with those coins.
So if your in an area where they still have coin counting machines, don't get to use to them. They are vanishing fast.

My thought exactly!

This was at a bank of america branch. I don't see how it would differ from state to state. They say they throw em out. Not send them out. WOLF

Throw them out! What an insult! Whetever happened to a good old fashioned exchange rate?

I buy and sell pounds, loonies, yen and euros all week long, albeit online. But, isn't there branches that handle foreign money? Like at international airports?