Another Bank went bad

[bigtime400]

I went to drop off my normal $1000 a week at a branch of a bank that I have been going to for the last 2 years. Not even every week alot of the time. Friday they told me no more halves. But they did say they would still take them if I covered the fee from brinks and she would have to call them and get back to me on that. She called back saying the fee was 10% the total value...... So according to her the fee is $100 to ship back a $1000 bag of halves. I called back got her voice mail and told her that was outragous. And I asked what happened to just covering the Brinks fee. The woman asked for my account number and I didnt want to give it out. Then she asked for my name. Knowing that she could look up my account with my name I didnt even want to give it at first but then I finnaly gave in. Then she asked for my account again. I just said "why dont you just look it up with my name?" She said "Ohh yeah I guess I can do that" That says to me they must really think we are stupid..............

So Ive been a customer there for 15 years. I pulled a bunch of my money out and got my mortgage, car loan, and my daughters saving accounts across the street now when they gave me a hard time in the past. Im sure she looked at my accounts and saw that I didn't have anything in there and assumed I was just using them for cashing in coins. But the sad thing is is they treated me like crap and they have now lost my buisness forever....... and my wifes.... daughters. Not to mention me telling everyone about my bad experience with them. They must not know that word of mouth is the best advertizing.

My uncle knows the bank Pres. and he said he talked to them about me cashing in coin and he told me they said they should not be denying me.

I just dont know how to deal with these people anymore. Any of you had any luck doing anything? I thought about writing a formal letter to the bank pres. and see were that gets me.

 

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[Rich Hartford]

I'm tired of listening to these stories of banks with their poor customer service,and BS fees. I'm also tired of listening to namby-pamby stories of how banks are businesses that have to make money,and that we should be concerned about this.
The banks are recipients of bail out money.They needed the bail out because their avaricious schemes didn't pan out this time. That bailout is ultimately going to be paid for by us,the taxpayers.
If as an individual you made loans and charged interest like the banks, you would be considered a loan shark, and would end up in jail.

So I guess we are part owners of a legalized criminal enterprise.

When they ask you for an outrageous fee like the one proposed to you,basically they are in your face stealing from you.

Go back to the bank and ask them for a fee schedule because you need to have it in writing. If they ask you why,tell them that you are cooperating in a criminal investigation. That you have already submitted the tape recorded conversation concerning the fee and now you need written documentation. If they ask anymore questions,tell them that you are not at liberty to discuss the matter. You are not going to get a fee schedule because they are only used for business accounts.
Leave and let them chew on that awhile.

Of course the best way to avoid the "F" word is to dump in small amounts at several banks.

 

[golden silver]

Haha Rich did you use mambi pambi? LOL. I know what you mean about these rude banks. I honestly would not make it easy for them to push you around like that. You could get names and then give the info to the next level especially if you have been a loyal customer for years. Ok Quew the mambi pambi response about how we need to be more understanding of the banks. Go ahead we are waiting.

Golden Silver

 

[jim4silver]

I'm tired of listening to these stories of banks with their poor customer service,and BS fees. I'm also tired of listening to namby-pamby stories of how banks are businesses that have to make money,and that we should be concerned about this.
The banks are recipients of bail out money.They needed the bail out because their avaricious schemes didn't pan out this time. That bailout is ultimately going to be paid for by us,the taxpayers.
If as an individual you made loans and charged interest like the banks, you would be considered a loan shark, and would end up in jail.

So I guess we are part owners of a legalized criminal enterprise.

When they ask you for an outrageous fee like the one proposed to you,basically they are in your face stealing from you.

Go back to the bank and ask them for a fee schedule because you need to have it in writing. If they ask you why,tell them that you are cooperating in a criminal investigation. That you have already submitted the tape recorded conversation concerning the fee and now you need written documentation. If they ask anymore questions,tell them that you are not at liberty to discuss the matter. You are not going to get a fee schedule because they are only used for business accounts.
Leave and let them chew on that awhile.

Of course the best way to avoid the "F" word is to dump in small amounts at several banks.

Actually, the recent anti-bank profit posts are namby pamby in my opinion. "They won't let me buy 10 boxes or dump them for free anymore.?". Why should a bank subsidize CRHing activities? Especially if you are doing large quantities and the bad apple CRHers are violating the CRHer code of ethics (dumping where they buy, etc.). Perhaps the anger should be directed at these bad CRHers and not the banks?

So because the banks took TARP money they lose their for profit status? What if they refused the money? From what I have read many banks did not want the money but were pressured to take it. Also, some want to pay it back but the gov won't take the money back. http://www.scholarsandrogues.com/2008/11/25/banks-forced-to-take-bailout/

See also http://money.cnn.com/2009/03/27/news/economy/tarp_takeback/

It is easy to blame the banks and other bogeymen for the economic problems. Don't like the high interest rates? Don't borrow their money. Is there a cap or limit on how much profit one should be allowed to make in this country? I did not know we had so many posters from Socailist countries on here.

There is no Constitutional right to CRHing. It is not easy running a company, either large or small. If profits are not there, the business folds. Anyone here who thinks the banks should do all this stuff for free have probably never had their own business. Although I am happy getting free CRHing services, if they stop them tomorrow I would not blame them one bit. As the saying goes, "there is no free lunch".

Sorry for the rant but I have to call a spade a spade as they say.

Jim

 

[golden silver]

And there you go. Jim I love you man. I love how you speak your peace. and although I can see your side I have to say it sounds a bit like you feel guilty about having the hobbie. I am not saying you do but some of these guys who dump 10 grand have got to feel a little guilt. As far as socialist...I am most deffinately not, I am a consitutional conservative unhappy with the mishandling of tax payer money, unhappy with a government who I trusted spending more time with their own agenda than seeking what the people care about and need. Of the people by the people and for the people is what it should be but instead I see a government made of bought people elected by the highest bidder working for the party agenda or better yet just to stay in office. They say what you want to hear and change face as many times a necessary to stay in a position of power so they can continue the game of playing god and using us as chess pieces. Ok no more ranting for now. Like I said I do appreciate your view Jim and love your post and knowledge.

Golden Silver

 

[puckhead]

Jim4Silver, you beat me to the punch! I have also read where some of this bailout money was only a loan and the Government (us taxpayers) are getting around 9% for the loan. Thats not bad. Where else can you make 9%? I've said it before and will again, if you do not like a business and their way, then move your money, but if you start to cost a business more than it can make from you, they will show you the door. Good luck and HH all.

 

[Rich Hartford]

To lazy to put on my glasses when I type,and the keyboard is getting old. When I CRH, I dress well,walk in with a big smile on my face,and act friendly and courteous. I leave with a smile regardless of the score.
However I fully realize what I am dealing with and if someone is going to be rude,the happy face comes off, and they can expect the same in return. It appears that we have been conditioned to become politically correct lap dogs.

I've owned a business, and did well. The customer is king. If the customer is a pain in the neck,I'll eat some humble pie,and I'll never ever lie,cheat or steal from the customer.

Most people forget that the banks are a medium for exchange,a private business,but the money is ours. It's the peoples money.

I've heard that BS that banks refused the money but were forced to take it. Of course they are going to say that because who wants to put their money in a bank that is having problems.

I'm not a coin collector,or looking to get rich. I do get a thrill out of beating the bank when I exchange Federal reserve notes for silver. It's challenging,and a legal beat on an entity that will steal the shirt off your back if given a chance.
CRH for me is a game. You have to know how to play it. I just wish I had more time to play,but I have other things to look after.

 

[Rich Hartford]

Jim,
I appreciate your views as well. I'm also a constitutional conservative as well but that's another story.

 

[Rich Hartford]

You guys get the last word. Time to go to work and earn some paper.

 

[bigtime400]

There fee schedule says FREE coin counting for customers. Thats not hard to find. I am sick of the BS. SHE suggested that she finds out what the fee is at Brinks to ship back and would continue to accept halves if I pay that fee. Then she called and told me it was 10% of the value or $100 for $1000 in halves. That is just down right OUTRAGEOUS!!! $100 per bag?? They ship them out in $1000 bags. $100 per bag!? If that were true pennies are a REAL bad investment.

I never took more then $1000 per week and sometimes skipped a few weeks. I dont think that is excessive concidering Brinks shows up for pick ups and drop offs 2x a week.

But what I want to know is what any of you have had luck doing to resolve this. Not wether or not you are a CRHer supporter or a Bank supporter.

 

[47thelement]

CRH for me is a game.

I couldn't agree more! And so is Baseball!

There's no crying in baseball so why do you think you can cry in this game?

If you're not enjoying what you are doing...do something else, and let those who enjoy what they are doing it, enoy it!

 

[coinmojo]

That bank is obviously trying to deter you by suggesting that outrageous fee. If anything it should be $7 to $15 at best. I believe they are Bluffing and just trying to scare you away.

I agree that you should ask for a written fee schedule and take it up the ladder, or the BBB or something else because it sounds Criminal to me. That is if you got the time to persue this matter.

Otherwise find another bank or another hobby.....

Mojo

 

[bigtime400]

Otherwise find another bank or another hobby.....

Mojo

I understand the attempt to deter alot of coin roll hunters because that puts stress on the veterans of CRH. I have been doing this since I was 10 and im 33 now. I've definetly done more the last few years but finding a new hobby isnt an option. Im sure you understand.....


I just want to know if anyone has had any sucess dealing with things like this?

 

[XX]

Step 1. Ask for a business card.

Step 2. Request the fee in writing. Indicate that as of this moment in time, the only thing you have in writing is a fee schedule that indicates that there is no charge.

Step 3. Force a head on collision by making a deposit. 10% is steep to make a point, so only do something like $500. Key word here is deposit.

Step 4. Demand a receipt for the fee if they attempt to charge it.

Step 5. File a complaint with the OCC (or the Federal Reserve if they are the regulator. You can find the regulator on the FDIC's website when you lookup the bank). Cite the bank for violating Regulation DD (not to be confused with Regulation D, remember, two letters)

Step 6. Send a copy of the complaint to the bank's president.

Step 7. Follow up on the complaint with the OCC.

Step 8. Be prepared to receive the letter informing you that the bank has closed your account and will mail you a check for your outstanding balance when they feel like.

Step 9. Post the name of the bank here so we can all make $10,000 deposits to their branches.

Hope this helps.

 

[XX]

This sounds like a common story for Fifth Third Bank. If so then the basis for the 10% is that is their published fee for non-customers. When "Cashing" the coins, they can easily enter in the computer that it's for a non-customer and deduct the fee that way. Hence the recommendation to "Deposit" the coins. They can't make a deposit and charge a non-customer fee on the same receipt as it's incompatible.

If this is Fifth Third and you are using a self serve counter, take a picture of the coin counter printout with your cell phone as it clearly shows no fee for customers and your transaction on the same piece of paper. If you have this, and they still charge 10% (which they would have to do by first cashing the coins, then depositing the cash using two transactions), they won't be able to supply a receipt for the fee which is illegal and a violation of Regulation DD.

When you write your complaint, you need to spin it to make it sound like they are ripping off all their customers using this trick.

Remember, ANY Fifth Third Branch manager has the ability to administratively close your account without any prior warning or notice.

Good Luck.

 

[alabamadan]

Just move on to another bank.

 

[blurr]

Just move on to another bank.

No kidding. Banks aren't your congressional representitives, or anything similar. They don't have to bow down to you because you threaten to pull your money out. Also, not all banks in America took bailout money. If this bank did, so what? Do you think you own the local school? Walk in one day and start shooting hoops in the gym, and see what happens Your bank doesn't have to take 200 pounds of 50 cent pieces from you every week to keep you happy. It would be awfully nice of them if they did, but they don't have to. My advice is to move your business somewhere that treats you with courtesy. Be up front with them, tell them what you do for fun (crh). Find a bank that agrees to accept your coin, and happy hunting.


John

 

[mistergee]

i've heard all the arguments time and time again, why do some banks charge a fee and others using the same carrier, don't?
this is just thier way of saying "WE DON"T WANT YOUR BUSINESS". i doubt they could or would charge you that high a fee. they are hoping that the threat of such an exorbitant amount of money would turn you away. i feel that if you were to agree you would call thier bluff and they would be forced to find a reason not to charge you that much. just my opinion.

 

[bigtime400]

Step 1. Ask for a business card.

Step 2. Request the fee in writing. Indicate that as of this moment in time, the only thing you have in writing is a fee schedule that indicates that there is no charge.

Step 3. Force a head on collision by making a deposit. 10% is steep to make a point, so only do something like $500. Key word here is deposit.

Step 4. Demand a receipt for the fee if they attempt to charge it.

Step 5. File a complaint with the OCC (or the Federal Reserve if they are the regulator. You can find the regulator on the FDIC's website when you lookup the bank). Cite the bank for violating Regulation DD (not to be confused with Regulation D, remember, two letters)

Step 6. Send a copy of the complaint to the bank's president.

Step 7. Follow up on the complaint with the OCC.

Step 8. Be prepared to receive the letter informing you that the bank has closed your account and will mail you a check for your outstanding balance when they feel like.

Step 9. Post the name of the bank here so we can all make $10,000 deposits to their branches.

Hope this helps.

XX
Thank you very much. That is exactly the kind of response I was looking for. Ill give it a shot! Ohh yeah........ and I have been prepared for this bank to close my account for about a year now...... so its just a matter of switching around a couple payments I have attached to my checking.



Nate

 

[minton7]

I roll ALL of my halves and other coins I hunt...... yes I had to buy the wraps.. but they were like 26 bucks for 5000 half wraps.... I have accounts with 6 dif banks now.. all with several branches.... I take 200-400 in halves to each place.. always wrapped.... haven't had the first problem.. well after Wesbanco screwed me over...... but when you are doing 800o a week in halves like I see some are doing, that is a dif story.... take some of the $$ you are making and pay the fees, or buy wraps.... or dont whine..... the poster here seems to be playing it all by the book.. I totally agree with the steps proposed to get this resolved... most places will swap box for box on all the other coins... least in my area they will.... most places will sell you boxes of nickels,dimes, pennies or quarters also.. even if you dont have accounts here...... I agree with others... the secret is to spread it out..... I see these guys who are dumping thousands per week at one bank.,. esp unwrapped... and then wonder why there would ever be a problem.... sure maybe 1000 per week isnt bad at all.... but the 8000 some do is just crazy..... I have pretty well stopped halves since getting rid of them is such a hassle.... and hiting nickels dimes and pennies.. much easier to get and much much easier to get rid of