TD Bank Wrapped Quarter Roll
Posted: Sun Nov 09, 2014 5:08 pmYES!!
NO!!
3000 Post Rant
Interesting. Follow the money trail:
TD manages to purchase their coin from a supplier (Brinks, Wells Fargo are the major players here) that obviously does not screen their bags for foreign.
TD sells these rolls to customers. Unless you open the roll at the teller window they will not redeem or replace any foreign (including Canadian) that they just sold to you.
Say the customer later brings those 40 coins back to Penny Arcade. The credit slip (for the roll pictured above) will read $8.75. The 5 Bahama quarters will be captured by the magnet.
Here's where it gets good...
Inevitably, some busy-body manager will attempt to reprimand me for lifting out the basket to retrieve coins from the magnet. This happened today. It got ugly fast...my escalation. More on that in a minute.
Remember, I paid $10 for a roll of their quarters. They're not only attempting to redeem them at a 12.5% discount...they want to maintain possession of the slugs so that they can presumably return them to their coin supplier to start the cycle over again. In other words, the outgoing coin is sold unscreened - incoming coin is scrutinized.
Naturally, 5 in a roll is a rarity, but I'm seeing more and more singles and doubles in quarter and dime rolls. It's a pretty tidy scam if you think about it: not really bad enough to get any one person too upset over it if they only got a roll or two per year. I'm getting 6+ each week. Maybe losing $2 to $4 weekly.
Ok, so I consider it a cost of doing business. The business of taking money out of TD banks that doesn't necessarily belong to me, but is up for grabs. I happily accept that minor "fee" since what I take greatly exceeds what I pay. By a long shot.
What I can't live with are these bank drones who want to upset the arrangement. One of them got in my face today and I had to back her up with a cold stare and a wtf is your problem? I know this branch has employees that are pocketing the money, I just don't know exactly who is benefitting. I've got a 3 year history with them, and this isn't the first time we've knocked heads. I accused her of intentionally blocking the reject chute by improperly placing the half dollar bag in such a way that causes coins to back up the pipe. This branch is notorious for that. She denied it, and I loudly repeated myself. I told her to open the front...let's see that it's not blocked. She refused.
A teller who is probably the only one there not in on the scam came over with the key, and despite the manager telling her not to, she opened it up. Surprise, surprise. There was the 50 cent bag covering the coin chute, a bunch of money plugged up. I had to laugh, and two other customers had a good look too.
The teller wanted to give it to me but I said, " No, go ahead, give it to her (the manager)...she's the one getting it anyway". Priceless. My parting advice to her was just as satisfying..."Honey, don't ever open your mouth to me again". You could've heard a pin drop while I was cashing out.
So I probably burned a bridge there...but I'm going back next week any way. I love banking.
NO!!
3000 Post Rant
Interesting. Follow the money trail:
TD manages to purchase their coin from a supplier (Brinks, Wells Fargo are the major players here) that obviously does not screen their bags for foreign.
TD sells these rolls to customers. Unless you open the roll at the teller window they will not redeem or replace any foreign (including Canadian) that they just sold to you.
Say the customer later brings those 40 coins back to Penny Arcade. The credit slip (for the roll pictured above) will read $8.75. The 5 Bahama quarters will be captured by the magnet.
Here's where it gets good...
Inevitably, some busy-body manager will attempt to reprimand me for lifting out the basket to retrieve coins from the magnet. This happened today. It got ugly fast...my escalation. More on that in a minute.
Remember, I paid $10 for a roll of their quarters. They're not only attempting to redeem them at a 12.5% discount...they want to maintain possession of the slugs so that they can presumably return them to their coin supplier to start the cycle over again. In other words, the outgoing coin is sold unscreened - incoming coin is scrutinized.
Naturally, 5 in a roll is a rarity, but I'm seeing more and more singles and doubles in quarter and dime rolls. It's a pretty tidy scam if you think about it: not really bad enough to get any one person too upset over it if they only got a roll or two per year. I'm getting 6+ each week. Maybe losing $2 to $4 weekly.
Ok, so I consider it a cost of doing business. The business of taking money out of TD banks that doesn't necessarily belong to me, but is up for grabs. I happily accept that minor "fee" since what I take greatly exceeds what I pay. By a long shot.
What I can't live with are these bank drones who want to upset the arrangement. One of them got in my face today and I had to back her up with a cold stare and a wtf is your problem? I know this branch has employees that are pocketing the money, I just don't know exactly who is benefitting. I've got a 3 year history with them, and this isn't the first time we've knocked heads. I accused her of intentionally blocking the reject chute by improperly placing the half dollar bag in such a way that causes coins to back up the pipe. This branch is notorious for that. She denied it, and I loudly repeated myself. I told her to open the front...let's see that it's not blocked. She refused.
A teller who is probably the only one there not in on the scam came over with the key, and despite the manager telling her not to, she opened it up. Surprise, surprise. There was the 50 cent bag covering the coin chute, a bunch of money plugged up. I had to laugh, and two other customers had a good look too.
The teller wanted to give it to me but I said, " No, go ahead, give it to her (the manager)...she's the one getting it anyway". Priceless. My parting advice to her was just as satisfying..."Honey, don't ever open your mouth to me again". You could've heard a pin drop while I was cashing out.
So I probably burned a bridge there...but I'm going back next week any way. I love banking.
Not sure if it's worth the trouble.
