First Major Bank Issue

[NotABigDeal]

Warning Commerce Bank members:

In all my years of doing this, hehe, I've never had a major issue with any of my banks. Untill two days ago. One of my banks is Commerce bank. I belonged to this bank before I even started searching coins. Never a major problem that couldn't be resolved with a branch manager. But I'm afraid that has changed. I noticed durring an online banking session that my balance wasn't right, and one of my accounts was missing.. I'm super anal when it comes to my money. Apearantly in July they changed their policy. No more free checking. Unless you have at least $500 worth of direct deposit, or maintain an average daily balance og $1500 you are charged $7 a month.

The missing account had $5 in it. The fee ate that up and automatically closed the account. My other account at that bank is the account that I write all my checks off of. I do not keep a balance of $1500 in there because it is not needed as this is not my primary bank. I do not have the ability to heve direct deposit, not that I would use it even if I did.

I will be closing this account as soon as all my checks that are out clear. I have one last hope as I've called the help line or whatever several times and there is nothing they can/will do for me. They said they sent me info reguarding the changes, but I have received nothing. I have a great relationship with a big wig at the branch I've been usung weekly for years. If she can't help me here is my plan:

I have a back log of zincs that need returned. I mean a bunch.... If the bank won't help me out I'm going to return them all in one of their super-slow lobby counters where the bags need changed frequently. Once all coins are in, I'll cash out and then close my account....

Deal

[dakota1955]

That is one way of getting back at them and I would do the same thing.

[frugalcanuck]

Deal. I second your idea

[Quagmire]

Warning Commerce Bank members:

In all my years of doing this, hehe, I've never had a major issue with any of my banks. Untill two days ago. One of my banks is Commerce bank. I belonged to this bank before I even started searching coins. Never a major problem that couldn't be resolved with a branch manager. But I'm afraid that has changed. I noticed durring an online banking session that my balance wasn't right, and one of my accounts was missing.. I'm super anal when it comes to my money. Apearantly in July they changed their policy. No more free checking. Unless you have at least $500 worth of direct deposit, or maintain an average daily balance og $1500 you are charged $7 a month.

The missing account had $5 in it. The fee ate that up and automatically closed the account. My other account at that bank is the account that I write all my checks off of. I do not keep a balance of $1500 in there because it is not needed as this is not my primary bank. I do not have the ability to heve direct deposit, not that I would use it even if I did.

I will be closing this account as soon as all my checks that are out clear. I have one last hope as I've called the help line or whatever several times and there is nothing they can/will do for me. They said they sent me info reguarding the changes, but I have received nothing. I have a great relationship with a big wig at the branch I've been usung weekly for years. If she can't help me here is my plan:

I have a back log of zincs that need returned. I mean a bunch.... If the bank won't help me out I'm going to return them all in one of their super-slow lobby counters where the bags need changed frequently. Once all coins are in, I'll cash out and then close my account....

Deal

I HATE TD/Commerce bank with a passion. My experience indicates that only total mouth breathing IDIOTS are employed them and they reflect the stupidity of every crooked policy which is in play at that bank. Avoid this bank like the plague. Also, I like your idea of dumping zincs there, and perhaps you could put some nasty sticky liquid on them as well

[jasmatk]

dump on them and dump hard. once all is dumped then close that account

[lewbo]

I agree I just did that to Wachovia, you should have seen the look on their faces

[didou]

Don't close the account yet after you dump once. Turn it into a dumping bank until they stop you. Then close the account.

[NotABigDeal]

Don't close the account yet after you dump once. Turn it into a dumping bank until they stop you. Then close the account.

Na, I don't need them and the machines are too slow. When I hand sorted I used to use these machines, but now not any more. We'll know by the end of next week probably....

Deal

[DirtyFingers]

Hi Folks,

My son prospects for ag and he has received the same hassles from Commerce. To the point that he has switched to another dump bank, again. I like the idea of continuing to dump till you're cut off.

I'm a newbie. Long, long, long time hand sorter. I really like Realcent's new digs!

DirtyFingers

[smartinson]

I am having problems with my dump bank also. It is Security Bank and the last 2 times I have taken in pennies, the pennies have some how missed the bags inside the machine and when they open it to change the bags pennies go all over the floor and all inside the machine. The lady told me that I was putting them through too fast so she was going to do it. Again, pennies all over the floor when the machine was opened. They need to just learn to put the bags in properly maybe. She asked why I had so many pennies. I told her I search for older coins. To my surprise she said that they would look through the coins they get in and call and let me know when they find any older coins so that I don't have to bring in so many bags to cash in. I usually only take 2 or 3 at a time two time a month. What a bull story was that. So, since it has been where I bank for many years, I decided I would take in 6 bags tomorrow and see if they have found any older coins for me. Would hate to close the accounts I have there but they advertise free coin counting for their customers and have been a customer for over 20 years. I would really like to be there while the tellers are searching through bags of pennies looking for older coins for me. It is getting harder to find banks that will take even rolled coins here.

[NotABigDeal]

Update:

I called several other banks and the information I got from them was that this is going to become the "norm". Free checking seems to be going the way of the copper penny.... My credit union says they are not doing it.

I guess since the Fed's told the banks to change the way they operate as far as loans, credit cards, and debit card usage, they have to make money some other way. I was actually told, to my face today, that Commerce is doing it because of econimic reasons. Yea right. Taking money, even if it's only $7 a month, from the little guy is not going to help that's for sure....

Deal

[misteroman]

Wow 7 a mo for checking? I'll start using M.O.'s and just cancel the accts

[NotABigDeal]

Correct. Unless you have a balance of $1500 (At least at Commerce). I don't see a reason to keep that amount in that account. It's doing nothing for me in there....

Deal

[misteroman]

lol there might be a reason now

[AFModell]

Dump on them and move on. My wife and I dumped her BoA account that she had since college because of the 5.95 monthly fee they were charging for being under the minimum checking balance. Its fortunate that banks are a dime a dozen and they all want your business (for a little while that is).

[Roadrunner]

Welcome Aboard DirtyFingers! I know exactly what you're talking about, after $50 of pennies sorted and my thumbs and index fingers are greenish black.

[Quagmire]

The citibank where I had been dumping fairly hard has informed me today (13 September 2010) that I am to start being charged for the "privelage" of DEPOSITING halves into my account. If it turns out however that the fee is a per visit/per shipment rate however, they will be in for a NASTY surprise. The reason being that I have a good deal of cash to use for halves so I will simply pick up 10-20 boxes per week and dump them ALL there at once. Addendum to this story: After receiving this unfortunate news, I went and opened an account at a nearby chase for the purpose of dumping, which I told them I was planning to do and explained that Citibank wants to charge me to do this. The gentleman I was working with reacted with a good deal of surprise and disgust upon hearing what Citibank was trying to do.

[DirtyFingers]

Welcome Aboard DirtyFingers! I know exactly what you're talking about, after $50 of pennies sorted and my thumbs and index fingers are greenish black.

Thanks much Roadrunner. You are so right about greenish black. And either really dried out or sticky or both. Lava soap should pay us hand sorters royalties!

DirtyFingers

[bsno2865]

I'd love to be there when you do it. Poetic justice!

[Finder]

I pulled up this old thread, thought it interesting.

Anyone having problems dumping their zincs on banks anymore?

[TXBullion]

Yea deal, what ended up happening

[AGgressive Metal]

I have considered cutting back to only one bank account just to make life simple. I am a handsorter and an infrequent one at that. So long as I can get a $25 box every now and again I'm happy.

[misteroman]

yes, inquiring minds want to know

[Lemon Thrower]

i'm not going to defend any specific bank, but i will attempt to give you all perspective. The Dodd Frank law changed the rules for banks. it used to be that they could charge hefty insufficient fund charges to their worst customers who bounced checks. they would also charge a nice fee to merchants for accepting a debit card - less than credit cards, so merchants liked it, but well in excess of their costs, so profitable to the banks. DF doesn't allow banks to charge those any more, or requries them to cut their fees drastically. those fees subsidized a lot of things banks used to do for free, such as provide checking accounts. So expect to see major changes at most banks, not just commerce. It will be more important than ever for you to demonstrate to your bank why it makes sense for them to keep you as a customer.

[twentybux]

i'm not going to defend any specific bank, but i will attempt to give you all perspective. The Dodd Frank law changed the rules for banks. it used to be that they could charge hefty insufficient fund charges to their worst customers who bounced checks. they would also charge a nice fee to merchants for accepting a debit card - less than credit cards, so merchants liked it, but well in excess of their costs, so profitable to the banks. DF doesn't allow banks to charge those any more, or requries them to cut their fees drastically. those fees subsidized a lot of things banks used to do for free, such as provide checking accounts. So expect to see major changes at most banks, not just commerce. It will be more important than ever for you to demonstrate to your bank why it makes sense for them to keep you as a customer.

Dang! As if there weren't already enough obstacles in this hobby. Well, makes the sweet finds that much sweeter, eh?