Bad news today

[flwtimc]

One of my dump banks called me today, and they said that I can no longer use their machine. They said I was costing them too much money, buy dumping my pennies there. I would only dump about $600 worth there a week, but now they wont let me order pennies either. I am now considering ending my account there, and then I could use the machine a a non customer. The only thing is that there is a 5 % fee. This isn't too bad, but dumping $600 wk there now is going to cost an extra $30/wk or $120/ month instead of nothing. I am a little mad, but I will just have to find a few more banks I guess now. I have been at this bank for a little over a month now, and was just about to bring the tellers and everyone a box of donuts or a cake. I guess I don't have to do that anymore now.

[inflationhawk]

This is my biggest fear. Sorry to hear the news. What bank is it? Did you use just one branch?

[inflationhawk]

Also, it sounds like you may have been using the same location to both get pennies and dump them? Thats something I have avoided. Not just because of the fear of getting my own sorted coins back, but because it would call attention to my activities and the bank would cut me off.

[justj2k78]

No, this is bad news: The "city" I live in does not have a single bank or credit union with a coin counting machine, and a single Coinstar in a grocery store - I have to roll all of my pennies.

[hejira11]

This is weird because I tried to buy a box of cents (at TD) and I was told they were out and I had to try again tomorrow I've done this since December '10 and this has NEVER happened to me. I went to my other bank (Wells Fargo) and they told me I had to order change in advance, but they gave me my box. I am used to the strange looks, Buth this is another level. I don't know what to make of it. At any rate, I am keeping a sealed unsorted box for a few years to sell. but, I am pretty much done hoarding Cu. I have enough I think with a little to sell. I am also trading my coinalyzer for an ounce of silver. I have it posted in the trade section.

[VWBEAMER]

Ya killed the goose.

600 a week? You should spread it out.

I'm small time, but I go $50 max return per branch rolled coins . $100 max per week coin machine.

[ScottyTX]

Umm, ouch 600.0 dollars a week at a lobby machine. I could see that becoming a problem pretty quick for some banks, depending on what type of system they use. Of course I do not so nearly as much volume as many of you on here so I can't really say what could be a tipping point to say... Tim once warned me to spread my dumps out and go easy on the pennies, no use in ruining a good dump bank for a little bit of convience. Good luck in finding a better bank, hopefully you have many other options for dumps and it won't sting as much.

Scotty

[OtusLotus]

Please don't tell me that you had to write your account number on
all of those rolls!

Ouch.. to put a limit on their customers really sux..

Maybe you should move to a new town with lots of banks and coin counters

[flwtimc]

I use a few branches... it was Nextier bank! I have about $2000 worth to dump every week, so I'm in need to find a few more dump stations so they dont do the same thing to me... Do you think they will still let me use the machine if I pay the 5% fee???? I would be ok if they do..

[Snake42]

Dog this is nothing. We have been banned from one bank outright and have been unofficially banned from a second.

Lets set the scene. At the first bank we asked to order 100$ worth of pennies... impossible they say. Ok can we deposit coins in coin lock bags? ... No, impossible.... so we got butthurt. Then we started sorting and dumping 600$ minimum a day for 2 weeks in halves... thats when the regional manager called and said that we were no longer allowed to purchase or deposit coins at their location, because we were quote "More trouble than you are worth". End result... Mission accomplished. They also accompanied our ban with a company wide memo to all branches to not sell pennies to customers or take in large amounts of coin.

At the second the tellers refuse to help us in any meaningful way.

Don't let this get you down there are so many banks out there. You really should try using coin lock bags and dumping at banks direct. We are doing 1500$-3500$ in pennies a week and that has been the easiest solution by far.

[flwtimc]

Ya i'll have to look into that.. Thanks

[slickeast]

Ahhhhhh, you made it into the big boy club.

I have been banned, told to limit my dumps, and put on limits.

Makes the work a little more involved, but you have to work around the obstacles.

1st time I got banned, I had dumped $5000 in coins in a week. I think it was $3500 halves and $1500 pennies.......ooooppps

[dp2007]

It seems most of the "big boy" CRH's have developed a special relationship with one or more dump banks. In other words they have found someone within the bank that will work with them. To dump large amounts on a branch and they really don't know who you are or what you are up to is just asking to get cut off. Introduce yourself to the vault teller or the merchant teller and be honest with her/him. They'll let you know up front if they can work with you. Look around until you find that special relationship.

[NDFarmer]

When you are shopping around for a source bank or a dump bank just be honest with them. Ask them that if you open an account with them if they will be able to order you large amounts of coins or tell them that you will be dumping large amounts of coins. And then use the accounts in both banks. Don't just open an account and then leave it sit there with no activity. When you dump coins at your dump bank deposit the dump amount into your account. Then go to your source bank and write a check off your dump bank account and deposit it into your source bank account. Then you can either write a check or have them take the money from your account when you are picking up your coins. This creates activity on both accounts. Also if you can write a few small checks each month on each account that helps too. The banks are going to be a lot more accommodating if they see a decent amount of activity on your accounts. If you just open and account and leave $100.00 in there for several months with no activity they will cut you off. It is also a good idea to ramp up your buying and dumping. If you started of dumping $600.00 a week at a bank that you were with only a month that is going to get their attention right away. I think it is good to start at $200.00 a week whether buying or dumping and go a couple of months and then go to $300.00 week for a couple of months and then to $400.00 and so on. After 6 months of seeing you every week they get to know you by name. And I am sure when they are talking in the back room they are talking about the crazy penny guy that comes in each week. I know when I come in the door they kind of roll their eyes and you know they are thinking oh no not him again. But some good chocolates usually get them smiling, I think they have gotten to the point where they don't mind me lugging in my bags of pennies each week.

[fasteddy]

yes chocolates are good indeed. I hand my fav tellers macadamian nut cookies from Fuddruckers....delicious. and maybe 60,000 pennies a week was a bit to much. That is a lot of bag changing.

[exbingoaddict]

I have a pickup and a dump bank in the same mall complex. Which also happens to have a starbucks. Last week both branche;s tellers got $5 Sbux gift cards. Don't like coffee? They have overpriced food items. Don't like them, re gift em and make somebody else happy.

It's all about respect. Throw some gifts at at the tellers and branch mangers and you'll guy from werid change guy to rock star. Know your limits though. If you dump 5k a in change a week on them, a latte or a plate of cookies may not endear you to management looking to cut costs of servicing you.

[HoardCopperByTheTon]

You guys have banks with lobby coin counting machines? Oooohhhhhhh.. I am sooooooooo jealous!

I have probably been cut off by more banks than most members here have accounts at. But I have learned from the experience. Haven't been cut off from a bank in over a year and a half.

When you step up your game.. ya gotta spread the action around.

[slickeast]

I have also learned that when you stop buying or dumping at a branch for a month or so, they are nice when you come back in. I stopped dumping at a bank once when I almost got cut off. When I went back in to dump some halves, they asked where I had been. I told them I took some time off. (lie)

Also, never let the bank know that they are not the only player in the game. Its best if they think that the coin you buy from them or dump is all the volume you are doing.

[exbingoaddict]

You guys have banks with lobby coin counting machines? Oooohhhhhhh.. I am sooooooooo jealous!

I have probably been cut off by more banks than most members here have accounts at. But I have learned from the experience. Haven't been cut off from a bank in over a year and a half.

When you step up your game.. ya gotta spread the action around.

Next time I dump a canvas bag of zinc in a lobby machine I'll think of you HCBTT.

[Coppercrazy]

Im lucky Capital One is gobbling up banks down here,lots of branches and about 1/2 of them have lobby self dump machines....as for volume,im smalltime but I still spread it around so as not to anger the tellers who have to change bags on those machines! I wont bring in more coin than I can reasonably carry at one time...also to mix it up,I occasionally bring a smaller bag box of clad into the casino downtown...they freaked out when I brought in 30 lbs of pennies and wouldnt accept it,but they have no problem with a manageable box of clad....

[fasteddy]

yesterday the teller ask while I was geting cash..."where are your buckets of pennies" and I thought I was in the stealth mode....busted....they have 14 branches with 13 counters but only a$200 aday max....

[timmus0382]

I just started reading this thread this morning luckily before i was leaving the house to go on a copper hunting mission. I hit up 6 banks and pulled 200 rolls total. I also opened a C/S account at BOA because they will give me bags to put the zinc's in and they will send them out to get counted and credited to my account. I told the lady who opened my account that i would like to open a checking and savings account as long as i can bring bags of change in. I told her my father and I have been hording change for more than 20 years now and we have thousands of dollars that we want to start cashing in. I told her that I would be bringing 200-300 dollars a week in and she said that was fine. Right after that I went down the street and bought a nice box of chocolates for the tellers to share... I think im in like Flin. Then I went and opened a savings account at another bank where i have a deposit box and asked if I could get a couple boxes a week and they said no problem. Right now I have two dump banks and multiple purchase banks. When my Rydale comes in next week I should be good for $500 a week which should pull in about 100 lbs of the good stuff. Thanks for the tip on the chocolate and smiles!