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Picked up a box at US Bank, all shields. Went across the street to Wells Fargo, and didn't walk out with a box of pennies. I refuse to pay a $.05 a roll fee. Why can I go in and take $25 out of my account in paper, but when I want coin I have to cough up more money? They claim it is to cover their cost. I don't pay a fee to see a teller, nor do I pay a fee when I use the ATM. Why should I have to cover their cost on a box of pennies?

I'd cancel my account at that bank. There should be NO fees associated with your business at a bank when you are an account holding customer. They already make $$ off of you with the FDIC $$ you have in your account. Just my .02

I agree Drop Wells Fargo low % silver in thier boxes

If it costs them so much to order coins then perhaps you should provide them with some dumps...with no fees!

Sounds like a new dump bank to me!

. Sounds like a great dump bank, keep account open with minimum balance.

Attempts to collect fees are Banks' ways to try to make a little extra money.. or discourage you from wanting coin. It does actually cost something, in some manner to process all that coin. I dump regularly at a couple of Wells Fargo's. They also sell me all the CWR that comes in, and occasionally a few fresh boxes.. or swap their fresh boxes for the ones I am dumping. The reason there is a bank on every corner is so that if one doesn't treat you right, you just walk across the street and do business with another.

thedude wrote:Picked up a box at US Bank, all shields. Went across the street to Wells Fargo, and didn't walk out with a box of pennies. I refuse to pay a $.05 a roll fee. Why can I go in and take $25 out of my account in paper, but when I want coin I have to cough up more money? They claim it is to cover their cost. I don't pay a fee to see a teller, nor do I pay a fee when I use the ATM. Why should I have to cover their cost on a box of pennies?

A bank is not a service provided by the governement to supply you with money. A bank is a service and a business thats sole purpose is to make money.

Every bank has to pay for every roll of coin that they recieve. The fees are normally 3-7 cents a roll! That means for every penny box that they send out it costs them $1.50-$3.50. This is why business accounts that deal with a lot of coin have fees associated with their accounts. Most banks don't mind recieving and getitng coin occasionally from a non commerical account but when you make it a regular thing than their expenses go up.

I understand the charges and what-not involved, but we're not ordering a one of a kind item, or a pizza with odd toppings here, we're trying to get currency. If you keep a certain level of coinage at a given location and trends are showing that you don't have enough there you send more coins with the shipment that normally goes out. We're not asking them to stop and make a special order just for us, (in the case of pennies at least). Its also not our fault that the banks outsource rolling and counting of all this currency.

On the same note, banks are entitled to put fees on anything, and we're entitled to go to a bank that doesn't put fees on what we want.

I just think that being upfront with the tellers and telling them what you're interested in is the best way to go.

If banks didn't outsource the rolling of coin, they would have to do it themselves.. and that would cost them money for labor and capital equipment as well. I would love to be the company they outsource all that rolling to. There is always a cost associated with the processing of coin.. it is just accounted for differently at different banks. One of my bank branches can order up to 5 boxes of coin each week with no internal charge, but gets charged if they go over 5. They didn't know that until they tried to order 24 boxes of pennies for me. So now I have them order me 2 and 2.. 2 boxes of halves and 2 boxes of pennies every week. They also get $1000 in quarters from one of their business customers.. and I pick those up every week so they don't have to ship them. I am getting a small trickle of silver from these laundramat bags, but I am able to keep one of my other banks happy by providing them with 2 boxes of machine wrapped quarters every week.. usually the same day I pick the quarters up. If a bank treats you right on your coins.. try to give them more of your banking business.. run your checking through there, use their debit card, maybe even get their credit card. If they see you are giving them business they are making money on they are less apt to squawk about a few boxes of pennies.

I stopped trading with WF earlier in the year...the tellers were just dang snotty....try going to the bank to pickup 10 boxes of cents and four boxes of halves and they say to you..." we didn't place the order"...big bummer then. Fortunately my closest bank, a B o A is super great...They have allot of busines accounts so they must have the blanket price covering the coins costs.....cuz its always "well how many boxes do you want?" heck they even have their own dolley. Will hit them again this Friday for 10 boxes. One day soon maybe I can get to Hoards pickup level

I would pick up a lot more halves.. but not having banks with machines to turn them in to makes disposal a bit tricky. Even when I turn them in machine rolled and boxed, you can tell the banks are not overly happy about me bringing them in. Everything else they can deal out to there business customers.. but nobody uses halves.

I get geat service from WF. I get about 7-9 hundred dollars per week in cents and nickels. They have even haul them out to my car for me on their cart.

dakota1955 wrote:I get geat service from WF. I get about 7-9 hundred dollars per week in cents and nickels. They have even haul them out to my car for me on their cart.

Now thats Service!