Banks & coins, any troubles?

[CoolRide]

Boy.. if I had a ton of copper for every bank that told me "as many as you want"

They usually balk when I tell them my standard order is 24 boxes a week. You just keep getting them where you can.. and continually develop new sources. Opened an account at another major bank in my area a couple of weeks ago.. and silly me.. I forgot to put them on the rotation for today.

Welcome to the forum Sammy.. great story.

"and continually develop new sources." Yes this is my challenge. We have 4 banks here in town or I could go 80 miles one way to Spokane. 1 bank will not do anything for us. So I guess I should say we have 3.

Might be looking for a new hobby soon

Edit to add, thank you for the welcome!

[HoardCopperByTheTon]

Well you could always just buy copper bags or wheat bags from other members and sort through those. Some of us don't have the time to sort through the stacks of bags we have.

[CoolRide]

Hello!

Well yesterday (I think yesterday, it's 4am now Im so confused) we went to open the bank account that said they would sell us all the pennies we wanted IF we opened up an account with them. This is B of A. Had to do it over lunch hour so it was quick, they knew we were on a schedule. They actually blew it the first appointment we made.

Told them again why we wanted to open an account there, because they had told us "pennies no problem". I have learned over the years to get peoples names and today (once again) Im glad we did/do. (Get peoples names)

Opened the new account 2 days ago, 1 day ago we called to place our first order (there is to be a standing order for 12 boxes a week we were VERY clear) and they had to transfer my wife to the "vault guy", 3 minutes later they come back telling us they can only order us 2 boxes a week. Im bipolar and things like this tend to make me have what the docs like to refer to as "a mood swing", we will just call it that. However I ramained calm. This is EXACTLY why my wonderful wife does most of the talking! It's just the smart thing to do.

Reminding my wife (who was on the phone relating this info to me,) the NAMES of the 2 people that promised us "pennies for an account" without hassel.

They needed to call us back.

About 45 min. later the branch mngr or SOME big wheel called us back and said they were so sorry for the confusion and our first order of 12 boxes of pennies will be in Wed.
AND they reassured (sp) us that we may order "AS MANY pennies" as we like as long as we bank there, so we will see.

I must say, they have all been very nice to work with and at least act like they want to help, thats a fine start, and a lot better than the bank we normally bank with, who will not order us any coins ever for any reason. And I am betting from here on will from be getting all of our deposits in pennies weird no?

Sammy

[HoardCopperByTheTon]

Sammy.. good story. As long as the new bank is treating you right shift a chunk of your banking business to them. Your run of pennies from this source will be a lot longer if they see a lot of other action from you that they can justify to all their analysts that getting you those pennies every week is a good deal for the bank. Should we start a pool to see how long your run will last?

On converting the other bank to a dump bank.. you need to watch how they do their fee structure. Often there are sudden rule or policy changes when a bank gets too much dump action. It is best to spread your dumps around as much as possible to maintain a series of outlets for your unwanted zincs. While dumping $2000 a month is not a huge amount, it will probably get you cut off if you give all your action to one branch. Zinc disposal is one of the trickiest parts of the equation.

[Cu Penny Hoarder]

Hi Sammy,

Just an FYI, Bank of America issued many ARM mortgages during the housing bubble (that many people later defaulted on, and are still defaulting on). They also were forced to buy the Countrywide Mortgage company a few years ago (who originated a huge amount of bogus mortgages). BoA is basically in big financial trouble right now. They are currently talking about laying off 30,000 workers. It's quite possible that BoA will not be around very much longer. Just wanted to make you aware of that.

Happy hoarding!

[1saved3.11earned]

I actually use BoA as my dump bank because they accept uncounted bags of pennies and then send them off to be counted and credit my account. They even provide me with the bags.

[CoolRide]

Yeah I figured when Buffet stepped in with 5 billion dollars a month ago, B of A must have something bad going on. The bank I normally bank with as far as I know really has no choice but to take my money. Pennies or paper. I guess they could close our account for depositing money, but I am not sure how.
We only have 4 banks within 80 miles so I need to be able to work with em.

B of A's trouble is ONE of the reasons I jumped over there thinking they might be willing to help us out a little for a new account.
Of course they want us to move all our money there which we did, all $25
Then they said something about low interest if I switch my mortgage to them, I told them I would think about it.

Currently we are paying zero interest and there are NO late fees (owner contract), but I will think about it.

Will know more Wed. when we are suppose to pick up our first order.