Something I didn't know about my bank

[reddirtcoins]

So I was at the bank the other day picking up 3 bags of pennies and the vault lady said, do you want some rolled pennies? I said sure. After she came back she thanked me for taking them. Apparently she has to break them open and run them through the machine. (Which takes her a lot of time). So of course I used this to my advantage and told her how lucky she was to have a customer like myself that will save her time and money (because she no longer has to break them up and pay the carrier for pickup). Did I score with her or what?!

[shinnosuke]

You da man.

[psi]

Nice, you might think of leaving a card with your phone number so they can call you up if someone deposits a lot.

[bman]

Nice, you might think of leaving a card with your phone number so they can call you up if someone deposits a lot.

I was going to suggest the same thing...

[Lemon Thrower]

this is true of most banks i have dealt with

[biglouddrunk]

My main bank likes the fact I roll the pennies also. They give me $50 bag and i roll and return them after taking my copper of course. She say it save them time because they would have to roll them.

[Crescendo]

So I was at the bank the other day picking up 3 bags of pennies and the vault lady said, do you want some rolled pennies? I said sure. After she came back she thanked me for taking them. Apparently she has to break them open and run them through the machine. (Which takes her a lot of time). So of course I used this to my advantage and told her how lucky she was to have a customer like myself that will save her time and money (because she no longer has to break them up and pay the carrier for pickup). Did I score with her or what?!

The reasoning is when shipping coin out from a bank, it is either labeled as "exact" or "subject to count" - the latter costing the bank more money per bag shipped. It actually literally costs twice as much fee-wise if the bag shipped is subject to count. So some banks make their employees recount the coin when they don't have customers to get the fees lowered. After all, an employee costs the same doing something or just sitting there doing nothing. Anyway, just thought I'd help explain why.

EDIT: Most larger banks have sales incentive programs so their employees are encouraged to be selling constantly to clients and non-clients. So larger banks usually do subject to count since the opportunity cost of an employee selling would not be offset if they sat around recounting coins.

[avidbrandy]

That's funny I just found this out at the bank I'm picking up as well yesterday, because the teller this time asked me if I wanted their normal plastic wrapped pennies, or the paper ones, and so I took all those off him as well.

[reddirtcoins]

ok.. I might have been taking a chance here but, since one of my branches tossed me out the other day, (really the vault mgr was in a bad mood) I called the main office and asked what the official policy was on picking up loose change from the machine. As in $1000 of pennies, nickels, dimes, qtrs..etc. They say it is totally up to the branch manager and they had no issue with it. So, main office over-rides bad mood of the vault manager if branch manager agrees with the main office... Maybe this will help others but, I'm not really concerned because in Oklahoma we have a bank on every corner, just like gas stations, pharmacies and book stores.