Cut off!

[brian0918]

One of my banks randomly decided to cut me off today. I used to pick up nickels from them regularly last year, and before that pennies, without any complaints.

I picked up my two boxes of halves today, and I noticed a lady standing there watching me. Once I had the two boxes, she says, "You know we can't order any more for you." I wanted to say, "well, now I do!" But I just calmly said, "that's fine," and walked out. I looked at the teller as I was leaving, and it looked like she was avoiding eye contact. In retrospect, I think they were expecting me to throw a fit.

It's funny, because they are decent-sized branch, while a much smaller branch of the same bank, which is only open for a few hours a few days a week, is always happy to see me. Their security guard even helps me carry the boxes sometimes. Maybe the larger branch just can't handle any extra work. Or the manager is sick of me getting all the silver.

[SilverDragon72]

Oh No!.....well, time a find a new source I guess.

[BamaJoe]

Sounds like you have a new dump bank.

[beauanderos]

get used to it

[Engineer]

Sounds like you have a new dump bank.

+1

Five bags for your first dump should give them something to think about.

[mflugher]

I'd suggest bringing some zincs in too

[SilverDragon72]

I'd suggest bringing some zincs in too

What did you think he was going to bring in to dump???

[brian0918]

Sounds like you have a new dump bank.

That's exactly what I was thinking! Has anyone else done this to any bank where they've been turned away?

[mflugher]

I'd suggest bringing some zincs in too

What did you think he was going to bring in to dump???

Since he said he was picking up pennies and nicks in the past and now halves I assumed he intended to dump halves.

Halves suck to recieve as a dump.

Pennies are absurdly suck since its 50x the work/$

[fansubs_ca]

Sounds like you have a new dump bank.

If you have a friend willing to help have them do the dumps so the bank doesn't realize it's you
and they'll be thinking "if only we hadn't turned that guy away we wouldn't have to be shipping
these out all the time"

[mtldealer]

Sounds like you have a new dump bank.

That's exactly what I was thinking! Has anyone else done this to any bank where they've been turned away?

I walked into a bank and asked about getting coins... The teller was so rude that I came back a couple of days later and dumped $7K in Halfs. When I came in I asked if there was a particularly good day to bring in bags (so it wouldn't it in their vault too long) she was rude again, saying that she would do me a favor and take the bags this time but not in the future. I brought 7K every Tues and Thurs for a month after a month she asked if I was interested in taking coins? I said of course. Now I pick up pennies from them approx $500 a week. I stopped dumping there.

[slickeast]

I was dumping at a bank that has free use of their machine for members and non members. I talked to the assistant bank manager the first day and opened an account. She said there was no limit on how much I could use the machine. After about 3 months of using the machine just one day a week she came up to me while I was dumping and said that I was using the machine commercially and that it was not designed for that. I was then limited to $75 a week on pennies and $750 a week on halves. I still keep them in the line up, but just for dumping halves.

[reddirtcoins]

Sounds like you have a new dump bank.

That's exactly what I was thinking! Has anyone else done this to any bank where they've been turned away?

Me! One bank did that to me last year now I dump 2-3k a week. If you thought they were sick of me picking up you should see the looks I get dumping. On the bright side I called the main office and there is nothing the branch can do about it. I think it would have been a lot easier for the "one" lady just to order but, she'll been gone one day and I'll ask the new person for boxes... Happens all of the time.

Fun thing is in about an hour I'll get to see that lady watch my walk in and the lines will be long and I know I'll fill the bag up... Bwah..hahahaha....

And yes... I do not ever try to be rude but, that is the life when you would rather have people dump at your branch than order them a box or two.. Not my fault , "I'm the customer!"

[brian0918]

I got cut off by another branch of the same bank today! And my dump bank is unwilling to give me very many bags. Previously they gave me a whole box of deposit bags for free, but now they say I have to pay for it if I want a whole box. From what one bank teller said to me previously, I believe these branches are calling eachother and telling the others to cut me off.

If worse comes to worse, I'll move my funds to another bank and use this bank exclusively for dumps.

It used to be banks would fight for your business, and there was a benefit to having one bank over another. Thanks to the FDIC, nobody cares where they deposit their money, and banks don't care about making the customer happy.

[JobIII]

Hi Brian,

I'm sorry you're getting cut off at your banks. It is possible that you are being flagged at each new branch of that particular bank. That's happened to me before. If that's the case I'm sorry and you may need to find a new supply bank. I'm actually in a similar situation, things were great and seemingly out of no where I'm being asked to sit down with a manager to discuss the options. I don't want the bank to cut me off but it would be worse off if they closed my account.

Basically all I want to say is that banks are not here to waste time, man power and money. They are private companies that want to make profits. Hunting through bank rolls is not a free activity. We may not get charged for the services, but that's because the banks are eating the expenses. Think about the amount of coin bags you use each week. They cost more than a buck a piece and the bank gave you an entire box of them. They want to make you the bank member happy even at their own expense. Over time that attitude can change. If you're literally using a bank as a hub for buying and returning coins and nothing else they will only lose money. Allowing us to do this on a large scale with non-business accounts is something of a courtesy and loophole depending on your POV.

Banks want your business, there still are a lot of competitive offers between different banks. I don't quite understand what you have against the FDIC. Also it's been around since the early 1930's, so i'm not sure what it was like before then but I'm happy to know the funds are insured at least on some level.

I'm not so sure I want to look for another supply bank if this one cuts me off. But if you're like me and using that bank for other purposes, perhaps it's best you take a break from CRHing at that bank and it's branches before something worse happens.

[brian0918]

I don't quite understand what you have against the FDIC. Also it's been around since the early 1930's, so i'm not sure what it was like before then but I'm happy to know the funds are insured at least on some level.

The FDIC is completely broke. They do not have any money. All they have is a government guarantee that money will be printed out of thin air to repay the depositors in nominal terms, though not in real terms.

[barrytrot]

I don't quite understand what you have against the FDIC. Also it's been around since the early 1930's, so i'm not sure what it was like before then but I'm happy to know the funds are insured at least on some level.

The FDIC is completely broke. They do not have any money. All they have is a government guarantee that money will be printed out of thin air to repay the depositors in nominal terms, though not in real terms.

Well the FDIC is paying off people every day, so thus far it is "working". Banks get closed every week still and the FDIC is paying still.

[brian0918]

Well the FDIC is paying off people every day, so thus far it is "working". Banks get closed every week still and the FDIC is paying still.

While the FDIC has finally started charging premiums for their services (imagine an insurance company staying in business that didn't charge a premium ), they can only stay afloat so long as the rate of bank failures is low. As bank failures increase, the depositors will have to be rescued through deficit spending or the printing presses. Essentially our bank accounts are being rescued by reducing the standard of living of our children, grandchildren, and unborn future generations.

More info on the FDIC's (lack of) finances: http://www.bloomberg.com/apps/news?pid= ... Kc7Yh8ogXw

[JobIII]

I think you're missing the point I was trying to make. Simply put, banks want to make customers happy but also stay in business (the old win-win model). For the majority of a banks members I believe this to be true. We are profiting when the bank covers our costs and do not fit into this formula.

I'm not really sure how this topic is related to the FDIC, their financial status, and the well being of our future generations. But I like the fact that I can throw money into just about any bank in the US and know it bears the FDIC standard.

[brian0918]

But I like the fact that I can throw money into just about any bank in the US and know it bears the FDIC standard.

That was exactly my point. You don't care what bank you throw your money into. You have no interest in knowing anything about their financial stability, their risks, etc. Customers don't care about their banks because the government will bail them out if the SHTF, and banks don't care about their customers, because the government will bail them out if the SHTF. And the government funds it all with reduced living standards for future generations.

I agree though that this is a side-issue to the original topic.

[barrytrot]

I would assume that banks aren't in it just to fail

Banks have tremendous rules in their favor that last only as long as they are solvent. And most of them, if you aren't exceptionally greedy make it pretty easy to make a reasonable profit.

So I don't think that banks are just sitting back "banking" on the FDIC since they don't really benefit from that anyway, other than people feeling like banks are "safe".

[brian0918]

I would assume that banks aren't in it just to fail

With the way the government continually incentivizes risk-takers and punishes the responsible, we are certainly heading in that direction. It would be no different from someone doing everything they can to stay on unemployment benefits, and avoid getting a job where they would be held responsible for their actions. Just replace the person with a corporation of people.

[barrytrot]

I guess that makes sense, but to what are you referring? I would assume that successful banks make more than failing ones. But give me what you are referring to as I'm eager to see.

[brian0918]

I guess that makes sense, but to what are you referring?

Which specific statement? You mean regarding how bank bailouts encourage risky behavior?

[barrytrot]

I was referring to banks that have a business model of going under.