Dumping penalties, fees, and times for deposits

[fusscharles]

So, Im starting to dump in plastic bags. i am brand new to the process and my dump bank is wachovia. So I dumped a $50 bag, and I see they have not credited my account. Now, Id like to take more bags, but I want to see how this first run posts to my account.

My questions are-(1) is there a limit to how many bags I can dump in this fashion without paying for some sort of "counting or handling fee" (2) is there a penalty if I am always off by a few cents (over and under) (3) how long, on average, until the bank credits my account?

Thanks for the help!

[mauk13r]

Chase credits my account on the spot as cash.

[misteroman]

dang no chase or wachovia in my area

[PennyPauper]

I just started at M&T and was credited then. Was told there could be adjustments made after counting.Guess I will find out this week if any are made. I have a "in" so no fees as of yet. Took $600 on my first run.Going to try another 5-600 on Friday.
I think I'll try Wachovia before they make the switch here to WF. From the conversations here 5% is a fee for counting large amounts that I would be willing to pay if needed. It would be much easier then hitting several dump banks per week.Especially with gas prices rising.
I don't know about penalty's for being over or under but,counted out 5000 then weighed them,using 27.85lbs as the norm.
Added a few extra to be sure I wasn't under.

[NickelExpress]

Oh I wish I could deposit in bags, oh how much i wish

[fusscharles]

it is awesome!

[tinhorn]

I take my zincs in bags. Canvas bags from a local grocery store. Then I dump 'em into the free counter, take the receipt (like the one you get from a Coinstar machine) to the teller, and can either deposit them, take the cash, or ask for more boxes of pennies. (All the coins from the machine go to Loomis, so no danger of buying last week's zincs.)

[scentavoh]

no coin counters here in my area but wf takes coin-lok bag deposits, sends them to the cash vault and credits your account in 7 or so business days. there is a little leap of faith involved when they write 'subject to count' on the bag. but no fees (yet) and no problems.

[HoardCopperByTheTon]

It is specific to each branch. There are 2 branches of BofA in my town. One credits my account instantly, the other sends them in "subject to count" and credits the account about a week later. I got cut off early in the game at the closest branch when I took them in $3000 in zinc in one week. The BofA by my work credits my account instantly, but I try not to hit them too heavy because I do not want to get cut off there. I mustly just roll them by machine and deposit in several of my other banks. Having them machine rolled helps with the dumping.

[inflationhawk]

It is specific to each branch. There are 2 branches of BofA in my town. One credits my account instantly, the other sends them in "subject to count" and credits the account about a week later. I got cut off early in the game at the closest branch when I took them in $3000 in zinc in one week. The BofA by my work credits my account instantly, but I try not to hit them too heavy because I do not want to get cut off there. I mustly just roll them by machine and deposit in several of my other banks. Having them machine rolled helps with the dumping.

Lol, that's 120 boxes worth of pennies in one week! They must have really suspected you of nefarious activities. That's some serious sorting. What did you say when they confronted you???

[STINGER]

Like said before be careful how much you take in and to which branch you take them to. I was dumping a large amount every week at 4 different branches of Arvest bank until one Asst manager with a mouth at one location got me cut off at all locations. Really slowed me down.