Dump Bank Question

[Redemption]

I do halves and pennies, my dump bank has a counting machine free to customers. I take about 10k a week and as you can imagine is a matter of time before they start hating me. So i talked to manager and he is looking for a solution for me, in other words take the bags in. How much do you guys pay for the privilege of taking the bags in counted and then have them send away to re-count and later credit the account?

[reddirtcoins]

well if you do it correctly.. close to 0.

The "fee" the carrier charges is about 10 cents a roll on halves which is 10$ a bag. Although if this is a credit union they will have no way to reflex that charge back to you. I suggest finding more branches for that bank. I visit 7 myself for my main dump bank.
Another thing you can do is visit a bank and not a credit union, if that is what you are doing. Find one with a "coin policy" and you should be able to bulk deposit. Which is also what I do in the amounts you are talking about.

.. and post "1".. welcome!

[Redemption]

In your case you wrap them? I was trying to avoid wrapping them but I guess it is always an option. Maybe I should consider investing in a wrapping machine?

[mishra142]

My dump bank told me today I am no longer welcome to use their coin machine... I've been using 3 branches of the same bank for some time now. So, I closed my accounts and went to another bank across town. I spoke with the manager told him how much I expect to bring in on a weekly basis and he was ok with it... Although they have their coin machine behind the counter so im sure the tellers are not gonna be pleased. Im starting to think it might be worth my while to buy a coin counter and see about taking in bags. Do they make you wait for your money or will some banks give you cash on the spot?

[Redemption]

I believe you have to wait until money is sent away and counted before it is deposited. Although I have read that some banks will give you full credit and simply subtract what ever you are off. So i guess it varies from bank to bank.

[Thogey]

I drop my cents off at Chase in bags. I usually toss in an extra fistful. I deposit the bags with the business tellers. They are very flirty and nice to me. I get in my car drive around to the ATM and withdraw. I've never been charged extra or seen an adjustment.

[reddirtcoins]

One thing about chase... They have a central vault. Which means not really a good pickup bank unless your in a high volume area...

[knibloe]

My dump bank has a coin counter in the lobby. I do about $150 per week. I only dump half of them at the bank if I can get there. It is an hour away, but is often on my commute home.

I have been thinking about asking them to let me bring in bags. If I ask for 2-3 bags per week, that should take care of me. It woulod also allow me to dump more consistantly. Currently, I often can't dump because I don't have enough time to dump them before the bank closes. If I could do bags, I could still dump even if it is 1/2 hour before colosing.

[mishra142]

I plan on asking my new dump bank today if I can bring in bags. Hopefully they will let me. Would make things a lot easier for me and them. I would prefer they give me cash up front for them as to not mess up my system.

[HoardCopperByTheTon]

The trick is to spread your action around so you don't get one place too excited about seeing you. My banks do not have coin counters so my only options are to count loose into bags or roll them. Fortunately I hoarded a lot of wonderful machines early in the game so these options work fine for me. If you give any one bank too much action of any type they will eventually cut you off. I can turn in the precounted bags to BofA or WF and get immediate credit for them. You don't want to give them too many or they will change the deal. I got cut off at my local BofA branch years ago for bringing in a mere $3k in zinc in one week.