I was "F'd" by Bank of America

[PennysaverCP]

I went to pick up my order of 20 boxes ($500.00) and as soon as I grab the last box and am about to order for next week week the manager says "there will be a 10 cent per roll fee on orders from here on out." I have my business checking account with them and tell him that I have a pretty good amount sitting in that earning basically no interest and was hoping we could avoid the fee. "Nope" he says. I have been getting this weekly $500.00 for a month and a half or so with no mention of fees and really liked it as the few other banks I pick up at only give me $100.00 at a time. Time to look for a new source. Looks like the Ryedale will be in simi-retirement or a while.

Was thinking it might be worth the fee to get boxes of halves. Definatly not pennies

[barrytrot]

BofA didn't do anything to you at all. They just indicated they would start charging you *in the future*.

That's their choice. As is yours to have an account with them.

If I ran a bank I would definitely avoid ordering tons of coins for someone unless there was *profit behind it*. I'm sure they are just doing the same thing.

Ask yourself: If you had a company with several customers and *one customer* was consistently costing you money instead of making you money, what would you do?

[PennysaverCP]

I know barrytrot- The "F'd" in my title stands for "fee'd". I would do the same thing if I were BoA. In fact I would have probably hit me with the fee thing the first time I tryed to order. I totally get their position. I'm just posting that it was nice while it lasted.

[barrytrot]

I didn't know that "F" was for "fee".

Noted.

[avidbrandy]

Wow that sounds almost exactly how BofA cut me off too, except they told me while they were getting the pennies and then only brought out $300 of the last $500 shipment. very sad. Had just brought them donuts too. Was about a month and a half for me as well.

The manager said " I just found out about this or it would have stopped sooner." I replied 'how did you greet me each time then and not see my cart full of pennies?'

[adagirl]

Time to find another business account.

[willy13]

If you dont mind me asking, how much money do you keep in the account? My business has on average about $35,000 in an account that makes basically no interest, I would switch banks if they thought 35 grand was not enough to get free coin. (I have not had any problems because I am a hand sorter.) The bank where my personal account is basically begs me to switch over. I have not asked, but I am 99% sure they would agree to free coin if I switched.

[adagirl]

If you dont mind me asking, how much money do you keep in the account? My business has on average about $35,000 in an account that makes basically no interest, I would switch banks if they thought 35 grand was not enough to get free coin. (I have not had any problems because I am a hand sorter.) The bank where my personal account is basically begs me to switch over. I have not asked, but I am 99% sure they would agree to free coin if I switched.

Exactly my point. Time to switch banks.

[DirtyFingers]

If you dont mind me asking, how much money do you keep in the account? My business has on average about $35,000 in an account that makes basically no interest, I would switch banks if they thought 35 grand was not enough to get free coin. (I have not had any problems because I am a hand sorter.) The bank where my personal account is basically begs me to switch over. I have not asked, but I am 99% sure they would agree to free coin if I switched.

Good point. Large accounts, either personal or business, talk. You know what walks.

Banks are still making money inspite of the times. Don't let the miniscule yields on cd's and passbook savings
fool you. Pay attention to the workforce at your regular bank. Bet it hasn't decreased a bit since the recession started.

On top of that, they want to make more money. And not be inconvenienced.

[uthminsta]

I sort on a much lower level, but I am also in kind of a small town. So I knew, no matter how much I brought in, or how often I brought it, I would pretty quickly get a reputation for being "the guy who always brings coins in to be counted." So I asked up front, before I opened the account, whether this would be a problem. I even said, "I collect coins, so I would be bringing in more than the average customer would." They said it was no problem. Months later, when they had some fee restructuring, I asked again whether it would mean I would have fees for getting my coins counted. They said "we will never charge you for that." And so far, they have stuck to their word. And I asked these things of the "new accounts person" and the head teller...
I know this is a different scenario than you are in, but I felt like sharing it, as an example of at least one bank who has kept their word... so far.

[barrytrot]

On top of that, they want to make more money. And not be inconvenienced.

Of course. That's the name of business

[PennysaverCP]

If you dont mind me asking, how much money do you keep in the account? My business has on average about $35,000 in an account that makes basically no interest, I would switch banks if they thought 35 grand was not enough to get free coin. (I have not had any problems because I am a hand sorter.) The bank where my personal account is basically begs me to switch over. I have not asked, but I am 99% sure they would agree to free coin if I switched.

Right now there is 90k in there. I figured I was a pain to them by ordering coin but was hoping they would deal with the inconvenience to keep me happy. But 90k to BoA is like 1 crusty zink penny to you or I. My personal checking bank was also trying to get me to switch my business checking over to them. You are all probably right though- might be time to ask about coin if I switch over.

[DirtyFingers]

On top of that, they want to make more money. And not be inconvenienced.

Of course. That's the name of business

And I have no problem with that barrytrot.

What I have a problem with is when they seem inconvenienced. Know what I mean?

[Ecotic]

Stuff like this pisses me off with banks. Banks should be run like an all-you-can-eat buffet. You offer an enticing service with the anticipation that you will make money off of 90% of people, and lose money on the rest, but you offer the same, unbiased services to everyone to use as they see fit. And then after the months and years pass, on balance the service is a net positive to the bank.

Take Fidelity bank in Atlanta. They have free coin counters for everyone to use - in theory- but the second you put more than $5 in there they start squawking. It should be a service offered to customers with the anticipation that 90% of people will find it an enticing service to use on occasion in order to lure people into the bank. Sure, a rare few people will want to dump a lot in there, but it's a net positive when you factor in everyone. But you offer the same, unprejudiced service to all customers with the hope that overall, it is a net positive benefit to the bank.

I just want to walk into a bank, use the services, and mostly be invisible.

[willy13]

pennsaver, 90K is chump change for BofA nationwide but NOT one branch of BofA. Any branch manager should be very upset at loosing that account. This guy is making a mistake, and I bet if you went above him you could get free coin. And if he lost your account over free coin that his boss would be pissed. Just my opinion....

[drummer55]

ask for a withdaw of cash of 99% of your dough and see what happens.

when asked why you're doing this tell them its their coin policy and no a check will not do.

see if somebodies mind doesnt change....

[TheJonasCollegeFund]

If I had 90K...in the bank...business or personal....I'd be getting more boxes of halfs.

And, I would shop that 90K around to get 2 things....1....all the freakin' coin I want with no questions...and 2.....a place to dump all the zincs. 90K will do alot of talking!

[NHsorter]

ask for a withdaw of cash of 99% of your dough and see what happens.

when asked why you're doing this tell them its their coin policy and no a check will not do.

see if somebodies mind doesnt change....

Yeah and if it's a small branch you might catch them without enough cash available so then you can tell them that you want the rest in coins- fee free! Haha

[slickeast]

I also agree that 90K should get you some leverage. If not, withdraw all the money and go across the street to a bank that will work with you.

[SoFa]

The cost of acquiring new customers is probably pretty high (a lot higher than that 10c per roll fee is going to make them), especially business accounts with $90k on deposit.

Take your business elsewhere and let them spend the money you're not giving them to recruit another business account.

[reddirtcoins]

Well I hope this isn't the sign of things to come... I have a BoA where I get my halves and to date I only got fee'd one time for too many transactions. Really the only problem I have is they forget my orders all of the time. My 8 box order last Friday only turned out to be 2 boxes. If they start the 10 cent a rool fee i'm going to order 100 boxes at one time and see how they like that.

[HoardCopperByTheTon]

If you order 100 boxes at once they will probably ship you all boxes of nice shiny 2001 halves.

[everything]

You never know, 100 boxes of halves might yield enough silver to cover the 10 cent roll fee.

[Elcid69]

Bonny and Clyde didn't ask, they just took. Tell them what you want or go somewhere else, we just don't put up with being fee'd or f'xxxed
in the Dark Corner of S>C> Where "Moonshine still rules" and "Trespassers will be shot".

[myfundsarelow]

loan out the 90 grand at 7 %to the good folks at realcent they can use there silver to cover the loans just like a pawn shop does PEACE!!