Bank said they wouldnt accept and count coin

[Spikeanator6982]

A bank today told my mother they wouldn't take coin from me anymore because every time we leave, the coin counter is broken . They told my mother they would accept the coin, take a number I think it is, and have it counted later by the fed. I have been using this bank as a dumb bank more or less because I can tell it pisses them off, because they have upset me and my family on more than one different matter. on small things they refused to sell bagged coin, so I was getting boxes, about 100 bucks in that they said they would charge 10 cents a roll from then on. Been using it to dump coins as I felt like and every time they complain about it. Bigger matters they have upset my family with have nothing to do with sorting coin and more on screwing over a family farm...anyways....can a bank with a coin counter refuse to accept and coin coin for a customer with accounts without this being in a written formal statement and in the terms made when the accounts were opened? I have been taking maybe $150 home from college to a hometown(but large chain) bank on some weekeneds. I have taken maybe $500 in coin home this spring semester so far, but they act like counting $50 will kill them all when they see it. They know me by name, but every time ask, do you STILL have accounts with us, why do you have all these pennies, and when are you going to stop(when are you going to be done). The more they complained, the more I tried to take coin to them.
I am really tempted to go in and make them show me in the terms that they can refuse taking coin for counting right away(and if they cant), and then make them count it, and then close my accounts at that bank, and go open the same thing at a different locale of the same chain. (i assume this would effect the local bank in some, small way) and..i would still (i believe) have the local bank take pennies, bc i opened an account with another bank of the same chain.

thoughts? am i just an upset crazy? lol

[natsb88]

A bank can refuse to do business with anyone, for any reason. They are a private business. Nobody has a "right" to any bank service, just like nobody has a "right" to any of the goods on the shelf at Wal-Mart. If they decide you are costing them money or excessive hassle, which coin dumping almost always does, they can cut you off. Likewise, you can close your accounts and find another bank. That's how the free market works.

[Spikeanator6982]

I realize that, but do they not have a contract with me with me having an account? I assume that such things have would be outlined in the terms of the accounts. And surely depositing money into an account would be a certain "right" that comes with having an account and a change in the way you can deposit money into your account would have to be outlined in writing, with you being able to accept or decline the conditions(by closing your account).

[robroy]

Not all banks have coin counting machines. It costs them money to process the money sorted, maintenance on the machine, and it is truly a service to their customers. In my area there are few banks that have these machines and few of those do not charge something to use their machine. Most of the banks here require you to roll your coins and will not accept unrolled coins that are more than a roll equilivant. So if you have a lot of coin you must roll them.

I deal with a bank that has a coin counter and do have an account with them. However, I do try to be considerate to both them and their customers. When I run my coins through their machine I always deposit a certain amount of the coins into my account and take the rest in cash.

I look at these machines as a courtesy that is saving me both time and money. Time saved from rolling the coins and money by not having to purchase coin rolls.

Remember the signs in some restaurants saying that they can refuse to serve certain people, this is was the bank is telling you. If you want to do business with some people you have to play by their rules whether you like it or not.

My parents used to say that it was the nail that was sticking up that got hammered.

Banks, like most businesses, are there to make money and provide a service. It costs them money to process loose change and to bring in boxed money and currency from Brink's, Loomis, or whatever service they use. They don't have to deal with demanding customers unless they have a lot of money deposited in their bank. Don't forget at Citibank you have to have a certain amount of money on deposit before you can talk to their teller (Or so I hear).

[Spikeanator6982]

Remember the signs in some restaurants saying that they can refuse to serve certain people, this is was the bank is telling you. If you want to do business with some people you have to play by their rules whether you like it or not.
.

The difference in that is, the bank and I already have agreed to do business and they have the terms and conditions already made on the deal. it would seem the bank should have to have changes the terms in writing and then give me the option of accepting them or leaving the bank. When I opened the account their was never a rule stated saying I can't bring in coin, or use the coin counter thats at the bank. the restaurant and i do not already have a deal made with terms agreed upon. If i change my mind after I order food, cant just tell them I want something else and not pay for it, and they cant just give me something I didnt order and expect me to pay for it.

I am very nice to other banks and other branches that i do business with, and they are the same to me. I have bought coin and taken coin to banks I don't have have accounts with and the tellers all smile and greet me, and love to hear what I have found lately(usually "nothing too special"). I guess I have a problem with a bank acting like customers don't matter just because people have no other options to bank in a small town, and making up rules as they see fit. I don't make people wait behind me in line when I have large amounts of coin, I let others go ahead, this goes for any bank. I have never seen the coin counter break, as they describe, it it breaks its after I have left, so it can't be my coin breaking the machine. if anything, my coin should go through better, bc i have removed all the nasty and bent coin when they went through my ryedale, so its more likely its the other people, after me breaking the counter. The only "mean" thing I do to this bank is deposit money into my account, in the form of pennies. I don't act mean or unfriendly to them, nor have they said anything about it being a problem for the bank before, just higher up tellers always complain(or scowl) about it, even when a different teller is helping me, and saying the coin is no problem at all.

[natsb88]

When I opened the account their was never a rule stated saying I can't bring in coin, or use the coin counter thats at the bank.

It is also EXTREMELY unlikely that anything in their terms says they must provide you with a coin counter or free coin counting service. Coin counters are generally only provided as a courtesy. Nobody here is going to be able to answer your question definitively because we don't know your bank or the terms you signed when you opened an account. You'll have to find them and read all the fine print if you really want to press that argument. But I can't imagine anything of that sort being included in the terms. If anything, there might be a clause that they reserve the right to refuse the use of the machine, are not liable for losses or incorrect counts caused by the machine, etc. I can't possibly fathom anything in a bank's TOS that would give you a "right" to use their coin counter.

[Cent1225]

My dad always told me, "You can catch more flys with sugar than with vinegar". I suggest you stick with that approach rather than trying to "lawyer up" the fine print. It will be hard to argue the fine print when they call you into the office, hand you a cashiers check for the balance in your account and ask you to deposit it someplace else.

[hobo finds]

Try the bank CEO find out his take on this if he tells you it can't be done go to the media. I do agree that they don't need to let you use the coin counter, so roll them up and make a deposit...

[hammerrob]

I've always told myself that if sorting these pennies ever turned into any kind of a hassle I would simply switch to buying pre-sorted pennies. Right now I have no hassles, and still question whether the time I spend is worth it when I could just buy the pennies at 1.5x face.

[mishra142]

I recently had my former main dump bank tell me I am no longer welcome to use the coin machine. So I rolled up a bunch of pennies... by hand... took me forever and went to deposit them there. They told me "we don't accept rolled coin". So I said well Im not allowed to use the coin counter so it seems we have a problem here. So manager comes over and says well you can use the coin counter just dont bring in the big bags anymore... So now I use them as an alternative dump bank I normally bring in a nickel box stuffed full. I pushed for the manger to give me a specific dollar amount that I could dump per week but she wouldn't give me one.

[Morsecode]

Problem here is now you're at each other's throats. They don't like you for whatever reason, and the more you push back the harder they'll dig in. Personally, I find the adversarial relationship with some branches entertaining, and it is fun to aggravate them as much as possible...however, you must realize that while winning a few battles you're never going to win the war. It's like arguing with Motor Vehicles. Once the pissing contest begins in earnest, you've already lost.

At the end of the day, it's just better to move on.

[Spikeanator6982]

Yeah I know its a loss more or less, guess I just vented a bit. Does anyone have banks that let the fed count them? any problems with that?

[JadeDragon]

If they will let the Fed count and credit your acct that is great! Hopefully you have a fast counter. Just make $50 bags and then you know the Fed is properly crediting you. Now you don't need to stand and use the counter.

Also - try being nice to your bank.

[GGerrands]

"I've always told myself that if sorting these pennies ever turned into any kind of a hassle I would simply switch to buying pre-sorted pennies. Right now I have no hassles, and still question whether the time I spend is worth it when I could just buy the pennies at 1.5x face."

As I'm looking at expense involved in going from hand-sorting to a minimal mechanized operation i find myself asking myself that same question.
Counter: $200
DIY Ryedale: $150
Gas for 200 in copper: $24 a pop.

All that vs. the $142 & $145 I see $100 f. v. shipped for, on here.

It would pay for itself eventually...assuming B o A will still take bags of coin. I'm looking at getting a checking account with them. For free if I switch my direct deposit or keep a $1500 balance with them.

Is B o A still good for taking bags?

[Spikeanator6982]

If they will let the Fed count and credit your acct that is great! Hopefully you have a fast counter. Just make $50 bags and then you know the Fed is properly crediting you. Now you don't need to stand and use the counter.

Also - try being nice to your bank.

I dont have a counter, I normally just fill the buckets I use and know about where $50 is, and overfill a bit and end up with a bit over all the time. I guess I was hoping they would count and credit correctly for me to not have to worry about counting it

[PMLurker]

Does anyone have banks that let the fed count them? any problems with that?

"The Fed" doesn't count the coins in your bag. The logistics companies (Brinks,Loomis,Garda) are the ones that do the counting. The bank bags that you turn in sit in the bank's vault until they are picked up by the logistics company. You need to work with your bank to find out when to drop off bags so they sit in the vault for the least amount of time.

[galenrog]

Almost all the advice here is good. Let me add this week's good news.

Yesterday I was in a town about 45 min from home to order some professional equipment (ok, a new drywasher my some desert club claims) from a friend in that business. Neither he nor his wife were there due to sudden out of town problems. I decided to hit the banks and CUs. I made the tellers happy at one bank. I was told that I needed to see three tellers that were out, but would be in the next day.

Short story, ordered my equipment today, picked up over 300 Ikes and have a new branch to get bags on Tuesdays if I am in town.

[Kurr]

In my experiance some or most (at least around me) Chase branches accept loose bagged change, send it out and credit your account, the reason I personally do not do this is that they say it "can" take up to like ten to fourteen days for the round trip and you have funds available.

For some this setup would be ideal, but I prefer not to have capital tied up that long if I can help it.

I have seen first hand what being adversarial to branches can get you. I have been linited on machines, banned from machines (I dropped 3200.00 on one branch in a week before the armored pickup and they when they "banned me" said all the other customers could use it, but for me not one coffee can full!), I even had a regional branch manager change the policy for his region (or at least the three counties I picked up from) to "NO coin sales to individuals, businesses only" no cents, nickels, dimes, quarters or halves. Not one roll. That as you can imagine did not last long, but I learned another lesson or two on how things worked.

The thing to remember is that bank branches are all to be considered like individuals. They all have they own personalities and mood swings and wee need to account for that in order to have a good relationship with them and avoid a "break up".

And no matter how smart you are you aren't going to out lawer the entire team of lawers that work for the bank full time and eat sleep and breathe those policies and their interpretations. They define what the words mean in those contracts and you already agreed to the them.

Another way to get around dump banks entirely is to coinstar no-fee for a gift card to a place like CVS and pay the 4.99 for a refill card and have the balance on the card loaded onto a greendot mastercard then hit an atm for cash in hand. As long as you 500.00 or more at a time your "dump fee" will be less than one percent.

I should get back to runnin coin, I use to be pretty god at it, lol

[dannan14]

In my experiance some or most (at least around me)Another way to get around dump banks entirely is to coinstar no-fee for a gift card to a place like CVS and pay the 4.99 for a refill card and have the balance on the card loaded onto a greendot mastercard then hit an atm for cash in hand. As long as you 500.00 or more at a time your "dump fee" will be less than one percent.

Wow, that is some good info Kurr, thank you. i've never used a prepaid debit card before. Is it a typical from CVS' point of view for someone to use a giftcard to buy the prepaid card? i ask because i was trying to do something similar with Coinstar to get a Lowe's card to buy a gas card. However, Lowe's doesn't accept their own gift cards as payment for the gas cards. Obviously i want to avoid similar obstacles with CVS.

[Kurr]

Painfull lessons learned. I hope to save some of you new sorters some problems and ensure smooth proceesses for everyone.

And I made a mistake earlier, it was 1600.00 in cents. I was thinking can you imagine what the brinksman's job was like that day, with no warning, out of the blue having an extra 32 bags of cents, and the security concerns they had coming in and out of the bank. And those guys HAVE to keep to scheduale or there is heck to pay. I caused a lot of problems and created HUGE amounts of risk that week and was just P.O'd because they wouldn't accept any more of my coin. I wasn't trying to be mean, I just did not know at the time. Live and learn.

I don't know what coinstar offers or who in that list carries anymore, but this should clear it up for you.

https://www.moneypak.com/ReloadHowItWorks.aspx

That explains the process and has retailers such as walmart.

[dannan14]

Thanks Kurr. i just spent 30 minutes on Coinstar and couldn't find any near me that give drugstore cards i guess i'll just have to keep searching for more creative ways to dump coin.