charged .12 to deposit a roll of pennies.

[cwgii]

us bank has started charging to accept deposits. 24% fee...... now why would anyone deposit vs. coinstar.

[Sheikh_yer_Bu'Tay]

us bank has started charging to accept deposits. 24% fee...... now why would anyone deposit vs. coinstar.

Protest that! Where's ACORN when you need them?

[NDFarmer]

Time to look for another bank.

[frugalcanuck]

I just had my first opportunity to laugh at a bank manager telling a teller to charge me 12 cents a roll. The teller was arguing with the manager for me and then I told her its okay and I will go somewhere else.

[Crescendo]

I just had my first opportunity to laugh at a bank manager telling a teller to charge me 12 cents a roll. The teller was arguing with the manager for me and then I told her its okay and I will go somewhere else.

For the record:


Almost EVERY bank charges for coin deposits. There IS a screen on their teller system specifically to type in the denominations of every deposit. This is for coin and cash. However, most tellers have never seen the screen/were never taught it. So they don't know how to use it. It's based on the old bunker RAMO DOS input screens (not sure how much detail is really appropriate to put here on teller programming so I'll leave it at that).

When a bank updates their teller software from DOS to WINDOWS (yes, many many banks still use DOS based programming even if the computer is running WINDOWS), they "teach" their tellers how to input properly to charge for deposits and withdraws. Consumer customers are generally to be denied coin if in excess of say, what makes sense for a roll or two of quarters for laundry mat. Commercial clients pay premiums (and they aren't cheap). All the "free talk" of getting coins or depositing coins for free is luck (as most people already know).

[scentavoh]

sounds like a great place to dump halves in $20/rolls. companies can take liberties when they provide a service for free (i.e. the long waiting times when you dial an 800 number), but if you're paying, even just 12c/roll, then they have to provide you with the service with a (forced) smile. enjoy!

[Lemon Thrower]

i have used probably 50 different branches of 6 different banks in the last 3 years and have never been charged to deposit pennies. i am no lucky, the banks in my area do not charge.

banks can't just make up fees - they have to be in the deposit agreement.

now, at a certain point a retail account pushing a lot of coin looks like a commercial account, so they might limit you. that is an opportunity to discuss whether its in your mutual interest to continue the relationship. but a bank is not going to turn away a customer over 12 cents. there is more to it than that.

banks are private businesses and if there is nothing in it for them you can expect one to close your account. if you are taking advantage of the bank, you ought to expect this. but if you use their other products, etc. then its a different story.

[Crescendo]

i have used probably 50 different branches of 6 different banks in the last 3 years and have never been charged to deposit pennies. i am no lucky, the banks in my area do not charge.

banks can't just make up fees - they have to be in the deposit agreement.

now, at a certain point a retail account pushing a lot of coin looks like a commercial account, so they might limit you. that is an opportunity to discuss whether its in your mutual interest to continue the relationship. but a bank is not going to turn away a customer over 12 cents. there is more to it than that.

banks are private businesses and if there is nothing in it for them you can expect one to close your account. if you are taking advantage of the bank, you ought to expect this. but if you use their other products, etc. then its a different story.

When you say they do not charge, is this regarding the consumer fees and features disclosures or commercial fees and features disclosures? Just curious, not arguing

[Lemon Thrower]

i have only consumer accounts.

i would assume most commercial accounts get charged for coins, either coming or going. i'm not a business so i don't know what they charge on commercial accounts.

the point is
- banks regularly charge businesses for this level of service
- if you are not a business but act like one by requesting this level of service in a consumer account, banks are going to think about charging you unless you are providing value to them.

[Crescendo]

i have only consumer accounts.

i would assume most commercial accounts get charged for coins, either coming or going. i'm not a business so i don't know what they charge on commercial accounts.

the point is
- banks regularly charge businesses for this level of service
- if you are not a business but act like one by requesting this level of service in a consumer account, banks are going to think about charging you unless you are providing value to them.

Thank you for clarifying, was just making sure I was following you.

[Number21]

My immediate reaction would be "ok, then I'd like to close my account here". They always ask why you are closing your account, make sure they know the true reason. They may not care if they lose one customer, but if it becomes a pattern, they will change their policies...

I used to have an account with Washington Mutual who turned into Chase bank a few years ago. I had been a customer at the same branch for 15 years, the first checking account I ever had. Always in good standing. Chase decided to start charging a monthly fee for the FREE checking account I signed up for, so I quickly closed the account and told them what a bunch of BS it was. Again, they probably don't care about losing just me as a customer, but if everybody does it....

[Snake42]

Thats a load of BS. Individual bank tellers/managers make up "rules" and "fees" on the spot it seems. One bank tells me they have to charge me $15 for every $50 bag of pennies I deposit, while every other one takes them for free. Some give me counter credit and some say they have to send it off to be "counted" which never happens. Banks are seemingly very shady and their rules seem arbitrary. Just gotta find the right ones.

[hobo finds]

I would have broke open the roll of zincs and spilled them all over the floor!

[Lemon Thrower]

if they attempt to charge you what seems like an unreasonable fee, ask them to show you where in your deposit agreement where the fee is authorized. be polite, because it may be in there.

free checking is going the way of the dinosaurs. Congress took away many revenue sources from banks in Dodd Frank that were invivible to consumers. those things subsidized free checking. in the future, only folks with a lot of profitable business at the bank are going to get free accounts.

[Morsecode]

I opened a checking account at American Savings in 1979. Later, this was upgraded to Free Checking for Life. Banknorth took over in the mid 90's. Now, Commerce Bank is involved (takeover or merger, who cares), and they notified us last year no more free checking. Last time I looked I was still alive, and I even found the Free for Life agreement from way back. Nowhere did it say "Void in the event of merger".

So they will do whatever they want at any time and call it policy. You can get mad about it and walk, or you can fight fire with fire.

In the case of the OP, a 20% fee to deposit a roll of pennies is clearly targeting minorities, immigrants, and working poor (the comment about ACORN, meant in jest, is not far off)...and wouldn't the local editorial page make for a wonderful place to point that out? Maybe get one of the morning show mutant newsreaders involved. They're always looking for angles that show they care about us Commoners, especially when we are victims of cold, faceless corporations.

Go to your State Representatives' websites, and ask why, if banks are not allowed to charge a usury rate of 20% on loans, how can they charge the same on deposits? Copy the State's Atty General your grievance. Most of them are media whores who love being on the 6 o'clock news, especially when it puts them in the role of looking out for the little guy.

Only one thing banks hate more than loose coin, and that's bad publicity. Editorials, media and political contacts are free for the taking. Stir the pot, see what happens.

[biglouddrunk]

Tell the bank that you'd be will to purchase as many rolls as they were willing to sell for only a 6% fee. They have a name for people who can purchase 50 pennies for 38 cents millionaires.

[VWBEAMER]

Brilliant plan.....

I opened a checking account at American Savings in 1979. Later, this was upgraded to Free Checking for Life. Banknorth took over in the mid 90's. Now, Commerce Bank is involved (takeover or merger, who cares), and they notified us last year no more free checking. Last time I looked I was still alive, and I even found the Free for Life agreement from way back. Nowhere did it say "Void in the event of merger".

So they will do whatever they want at any time and call it policy. You can get mad about it and walk, or you can fight fire with fire.

In the case of the OP, a 20% fee to deposit a roll of pennies is clearly targeting minorities, immigrants, and working poor (the comment about ACORN, meant in jest, is not far off)...and wouldn't the local editorial page make for a wonderful place to point that out? Maybe get one of the morning show mutant newsreaders involved. They're always looking for angles that show they care about us Commoners, especially when we are victims of cold, faceless corporations.

Go to your State Representatives' websites, and ask why, if banks are not allowed to charge a usury rate of 20% on loans, how can they charge the same on deposits? Copy the State's Atty General your grievance. Most of them are media whores who love being on the 6 o'clock news, especially when it puts them in the role of looking out for the little guy.

Only one thing banks hate more than loose coin, and that's bad publicity. Editorials, media and political contacts are free for the taking. Stir the pot, see what happens.

[shinnosuke]

The trouble with quotes over the Internet is that you never know if they are genuine."
" --Theodore Roosevelt

...said Teddy as he charged up San Juan Hill!

[NotABigDeal]

I went through this with Commerce. When I joined years ago, everything was free. Then they changed the rules on me in the middle of the game. Let's just say that I'm no longer a member, hehe....

Deal

[Crescendo]

Thats a load of BS. Individual bank tellers/managers make up "rules" and "fees" on the spot it seems. One bank tells me they have to charge me $15 for every $50 bag of pennies I deposit, while every other one takes them for free. Some give me counter credit and some say they have to send it off to be "counted" which never happens. Banks are seemingly very shady and their rules seem arbitrary. Just gotta find the right ones.

Assuming when you say bank, you mean multiple bank branches at one actual bank company:

I just want to say, that as someone who has worked in a bank, I definitely appreciate a customer that looks for the right branch and appreciates when management and tellers makes exceptions to charges. Even just simply cashing out a check, I can not tell you how many actual exceptions to policy that occur on an HOURLY basis. I could provided a slew of examples if need be to attest to that.

I can't tell you how many times customers complain at the branches that DO charge for one thing or another because they found that another branch does NOT charge. What this does, is it makes the company realize there are branches that DO NOT charge. The company then makes it mandatory to charge at EVERY branch, and keeps track of it. In addition, they implement adhering to these charges as part of a "score card" program that determines commission payouts to the branch manager.

So really, it isn't always so much as the individual bank teller or manager making up rules, but rather whether they abide by them or not. Some policies can be stretched or completely side stepped - others can not. But really, the key is actually to NOT complain at any branch, and just stick to the branches that make things as cheap or free as possible. Oh - and get to know multiple people at the branch, don't rely on just one person. There is a ton of turn over in banks, so last thing you need is the branch manager to get fired and you not to know the assistant manager.

I've seen this type of scenario happen time and time again over the past decade in particular. Trust me. No complaining unless you really feel wronged and don't care about the possible effects bank-wide

[Lemon Thrower]

I opened a checking account at American Savings in 1979. Later, this was upgraded to Free Checking for Life. Banknorth took over in the mid 90's. Now, Commerce Bank is involved (takeover or merger, who cares), and they notified us last year no more free checking. Last time I looked I was still alive, and I even found the Free for Life agreement from way back. Nowhere did it say "Void in the event of merger".

So they will do whatever they want at any time and call it policy. You can get mad about it and walk, or you can fight fire with fire.

In the case of the OP, a 20% fee to deposit a roll of pennies is clearly targeting minorities, immigrants, and working poor (the comment about ACORN, meant in jest, is not far off)...and wouldn't the local editorial page make for a wonderful place to point that out? Maybe get one of the morning show mutant newsreaders involved. They're always looking for angles that show they care about us Commoners, especially when we are victims of cold, faceless corporations.

Go to your State Representatives' websites, and ask why, if banks are not allowed to charge a usury rate of 20% on loans, how can they charge the same on deposits? Copy the State's Atty General your grievance. Most of them are media whores who love being on the 6 o'clock news, especially when it puts them in the role of looking out for the little guy.

Only one thing banks hate more than loose coin, and that's bad publicity. Editorials, media and political contacts are free for the taking. Stir the pot, see what happens.

ok, get real.

instead of griping and trying to get something for nothing, why don't you stop and consider things from the other guy's point of view.

a bank is a business, not a government office. they are not in business to support your coin hobby, and they won't stay in business if that is all they do. if you bring them other profitable business they'll provide your coin service for free but if you otherwise lose money for them they will not. if you have a copy of your deposit agreement that says you get free checking for life, show it to your manager. by the way, checking is not the same as unlimited coin deposits.

yes, tellers sometime make stuff up, especially the lazy ones. so ask them where in your account agreement it specifies that charge. getting to the root of the problem and requesting the bank to honor its agreement is likely more effective than making an indirect attack through a newspaper and casting aspersions on their motives. their motives are much more direct - they have decided that it is not profitable to them to provide the services you request, and to remedy that they are charging you a fee. That is perfectly rational behavior on the part of your bank and used to be legal in this used-to-be free country.

[DJS]

I opened a checking account at American Savings in 1979. Later, this was upgraded to Free Checking for Life. Banknorth took over in the mid 90's. Now, Commerce Bank is involved (takeover or merger, who cares), and they notified us last year no more free checking. Last time I looked I was still alive, and I even found the Free for Life agreement from way back. Nowhere did it say "Void in the event of merger".

So they will do whatever they want at any time and call it policy. You can get mad about it and walk, or you can fight fire with fire.

In the case of the OP, a 20% fee to deposit a roll of pennies is clearly targeting minorities, immigrants, and working poor (the comment about ACORN, meant in jest, is not far off)...and wouldn't the local editorial page make for a wonderful place to point that out? Maybe get one of the morning show mutant newsreaders involved. They're always looking for angles that show they care about us Commoners, especially when we are victims of cold, faceless corporations.

Go to your State Representatives' websites, and ask why, if banks are not allowed to charge a usury rate of 20% on loans, how can they charge the same on deposits? Copy the State's Atty General your grievance. Most of them are media whores who love being on the 6 o'clock news, especially when it puts them in the role of looking out for the little guy.

Only one thing banks hate more than loose coin, and that's bad publicity. Editorials, media and political contacts are free for the taking. Stir the pot, see what happens.

ok, get real.

instead of griping and trying to get something for nothing, why don't you stop and consider things from the other guy's point of view.

a bank is a business, not a government office. they are not in business to support your coin hobby, and they won't stay in business if that is all they do. if you bring them other profitable business they'll provide your coin service for free but if you otherwise lose money for them they will not. if you have a copy of your deposit agreement that says you get free checking for life, show it to your manager. by the way, checking is not the same as unlimited coin deposits.

yes, tellers sometime make stuff up, especially the lazy ones. so ask them where in your account agreement it specifies that charge. getting to the root of the problem and requesting the bank to honor its agreement is likely more effective than making an indirect attack through a newspaper and casting aspersions on their motives. their motives are much more direct - they have decided that it is not profitable to them to provide the services you request, and to remedy that they are charging you a fee. That is perfectly rational behavior on the part of your bank and used to be legal in this used-to-be free country.

While I have a very cooperative bank, that works with me on sorting pennies and dimes, I wondered how long before someone would come up with Lemon Thrower's thoughts. The bank is a business, trying to make money and stay afloat. They are not their for our convenience. You can't fault them for charging fees, etc.

[cwgii]

well as a hand sorter, i have to say i hate re rolling pennies. nickels are 50-50 . and halves are not bad at all. when i lose the last cu in town that offers free coin counting. i will either just roll nicks . or resign myself to the very few halves available.

[Morsecode]

I'm sure no-one has an issue with banks being in business to make money. However, 20% to deposit coin is borderline criminal; no different than $200 annual fee 29% credit cards. No doubt they were hoping cwgii just shrugged and accepted it, like we all put up with artificially inflated gas prices from that other great for profit enterprise, the domestic oil cartel.

And no, no local yokel branch manager is going to overturn a nationwide corporate fee schedule and return my free for life checking. They'd have to reinstate it for everyone.