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Hi everyone! So I live in Atlanta and thought I had struck a gold mine as a local Atlanta bank, Fidelity Bank has free coin counting machines in every single bank of theirs, but after a few days they started squawking at me and not letting me use the machine ("Sir, this machine is for personal use, you're using this for business purposes of some kind."), and so I need an alternate route.

My idea is to find a bank that will accept those bags of $50 pennies and not charge me a fee to carry it off in the armored trucks. I want to get one of those $200 Cassida machines that can be preset to count for $50 in pennies and so disposing of zinc pennies will be almost as quick as sorting through them. Does anyone do this method and does anyone know a bank that will accept my money bags without charging me a fee? I so badly want to call around right now but it's Christmas break so I'll have to wait a couple of days.

I dump my bags at Chase.

Cute,friendly tellers and no fees

Welcome Ecotic,

Yes there are banks that dump zincers with no fees. I have a bank that I use that has several branches that have self serve coin counters in their lobby. Just dump bags of zincs in the counter and get a receipt when done dumping go to the teller turn in receipt and get cash then go to supply bank and pick up next weeks supply of unsorted coins. Plus as an added bonus this bank has good homemade cookies to boot.

I have a bnk with a counter that I can use. It holds $100 in pennies. I try to take the remains of two bags back at a time ($70-80). The trouble is that I always fill the penny bags and need to wait for them to change the bags. I am going to ask them if I can fill my own bags. That will save them the hassle of changing out the bags and it will save me the 30-40 minutes that it takes to dump.

Also, my source bank for halves routinely takes in 30-40 bags of quarters from some vending business. It appears that they have a one stop one fee deal with Loomis. I am toying with the idea of asking if I can dump bags of pennies there.

Lastly, I am going to go to Chase and see if they will take bags of pennies as part of my credit card payment. The one more rural branch declined me, saying that they would have to be rolled. I hope the larger more commercial bank will accept bags.

BB&T takes bags from me, but only at one branch.

Go to a credit union. Lower fees across the board and you'll find them more member (customer) oriented. Start at the credit unions first then try the banks. Not the other way around. No sense to pay a bunch of nonsense fees.

I actually GET my bags from a credit union (all 3 branches). I explained that I know it cost them money to send bags out and I'd like to help them out. They're happy to sell me every bag they have.

It is a branch by branch thing. I am able to dump precounted bags at one of my BofA branches and one of my Wells Fargo branches. You have to be careful about the amounts you dump at any one branch though. I got cut off at one of my BofA branches for dumpin $3000 in zinc one week. You have to spread it around.

I also use multiple branches of a credit union for dumping but limit my dumps to under $50 per week per location so as not to get kicked out. This means I need to drive a few miles but along the way is another credit union branch that has decided to sell me the bags right off of their coin counters.

I've definitely found that this business is all about personal contacts and not bank brand specific. It's surprising the different vibes you get between branches of the same bank chain.

inflationhawk wrote:I've definitely found that this business is all about personal contacts and not bank brand specific. It's surprising the different vibes you get between branches of the same bank chain.

I agree. I have a bank that is happy to sell the bags to me and now calls me the "Penny Guy." The branch of the same bank down the road says they cannot sell bags because they cannot guarantee the amount in the bag. I said I did not care. They asked if I got them from other banks and I said yes, your branch across town.

Oh well.

mutiger

Thanks everyone. I guess I need to go "window shopping" and fine some branches of banks that will accept money bags.

5/3rd in Indiana only charges $1.00 per bag (large or small). So one can take in about fifty dollars per bag for a buck!

Yup. It's all about the branch and not the brand.