Dumps refused entirely!
- Thread starter obediah
- Start date
Machines tent to come up short for me. I try and stay away..maybe once in a while.
Xraywolf
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You guys sound like a bunch of crackheads or something with this coin roll thing, time to realize that the world doesn't operate at your convenience.
I agree with them refusing to take $5K in halves, I agree with them not wanting to have their coin machines clogged up every day by the same person.
What do you think happens when its full ? It shuts down, no one else can use it [and yes, that does included little old ladies and kids with coins jars, thats where my kids take their coins], and it can take hours or a day before someone is detailed to empty it.
Also, banks should pass on the charge of what they have to pay to dispose of heavy bulk coinage.
You guys know it, even the common disparaging reference of the spots to get rid of your coinage as "dumps" tells me that you guys know you are doing just that, dumping on someone else ,,, Like someone walking their dog letting it dump on peoples lawns, and just walking away *Not their problem now*.
I'm glad you guys found yourself a hobby, but I've read through quite a few threads like this and finally had to speak my mind.
Be responsible, and don't expect others, whether they be financial institutions or individuals possible affected in negative ways by the side effect of your hobby, to carry you on their backs.
That my 2 cents, I expect to take a healthy flaming from you glazed over coin roll hunters.
I agree with them refusing to take $5K in halves, I agree with them not wanting to have their coin machines clogged up every day by the same person.
What do you think happens when its full ? It shuts down, no one else can use it [and yes, that does included little old ladies and kids with coins jars, thats where my kids take their coins], and it can take hours or a day before someone is detailed to empty it.
Also, banks should pass on the charge of what they have to pay to dispose of heavy bulk coinage.
You guys know it, even the common disparaging reference of the spots to get rid of your coinage as "dumps" tells me that you guys know you are doing just that, dumping on someone else ,,, Like someone walking their dog letting it dump on peoples lawns, and just walking away *Not their problem now*.
I'm glad you guys found yourself a hobby, but I've read through quite a few threads like this and finally had to speak my mind.
Be responsible, and don't expect others, whether they be financial institutions or individuals possible affected in negative ways by the side effect of your hobby, to carry you on their backs.
That my 2 cents, I expect to take a healthy flaming from you glazed over coin roll hunters.
diggummup
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I agree. It's supposed to be a hobby, not a full time job. “Hell has three gates: lust, anger, and greed”Xraywolf said:
fistfulladirt
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For some it is a hobby. For others it is a full-time job.
LemonThrower
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supn9 said:
+1
especially with halves.
on the plus side, when i buy bags of pennies, i often get a lot of free dimes in them.
diggummup
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unfortunatelyFistfulladirt said:
OP
OP
obediah
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- Thread starter
- #28
Fistfulladirt said:
To make it a full time job you'd have to drive all over everyday 5 days week, or cut days out that you get Boxes on; I'll admit hitting banks cold can be profitable but it also can be very dry for several days in row, and get very expensive on gas and wear tear on car- which eats into potential profits. I do Boxes and take a combo road trip dump every 2 or 3 weeks, dumping everything in another district and hitting all the banks can on them days weaving around on way back home, on average the trip pays for itself and then some on 2 out of 3 trips.
AGCoinHunter
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Xray, I cant disagree with you. I know banks are in the business to make money, not just a carrier for CRH'ers coins. Many do it out of convienance for customers, even if it gets to be an annoyance. Why? Because they know you can pack up your checking, savings, CD's and money markets and walk down the street to the next bank. With a free market on the consumer side, the consumer ultimately decides what the banks are willing to do. While one or two people closing their accounts may not affect the bottom line, they also understand that people talk, and when people talk about bad experiences at certain banks, most will keep away from these banks. Ultimately the bank looses a lot more than their cost for processing a CRH'er coins.
Now on the the coin machines. These banks offer this service as a freebie to anyone, even non customers, with hopes of pulling in more business by having them. I opened an account specifically because of the coin machine. My money sits in my account which the bank uses to make more money with. Where the banks could change is put in limits on how much "free" coins they will process. Maybe the first $100 is free per day. That takes care of grandma, kids, and average customers. They could institute a fee schedule of a certain percent over a certain amount. I actually would have no problems with this because I would find somewhere else to "dump".
Where my displeasure comes from me being kicked out for processing my coins in a machine that has no outlined limits. When I asked about what amounts are acceptable, I was told none. As a customer, I have just as much privledge as another customer when there are no usage limits outlined for the machine. The branch managers job is not to pick and choose who processes coins at their branch.
As far as this being a hobby or a job. Its both. I enjoy parts of it as a hobby such as collecting dates, types, and errors. Picking up 3-4K and depositing it becomes more of a job, a job that I plan to use to help my family through the bumpy times ahead. To each is his own. No one ownes the description of what CRH is. Hence no one can define it or make a blanket description that it is "supposed to be a hobby". Only you can decide that for yourself.
Now on the the coin machines. These banks offer this service as a freebie to anyone, even non customers, with hopes of pulling in more business by having them. I opened an account specifically because of the coin machine. My money sits in my account which the bank uses to make more money with. Where the banks could change is put in limits on how much "free" coins they will process. Maybe the first $100 is free per day. That takes care of grandma, kids, and average customers. They could institute a fee schedule of a certain percent over a certain amount. I actually would have no problems with this because I would find somewhere else to "dump".
Where my displeasure comes from me being kicked out for processing my coins in a machine that has no outlined limits. When I asked about what amounts are acceptable, I was told none. As a customer, I have just as much privledge as another customer when there are no usage limits outlined for the machine. The branch managers job is not to pick and choose who processes coins at their branch.
As far as this being a hobby or a job. Its both. I enjoy parts of it as a hobby such as collecting dates, types, and errors. Picking up 3-4K and depositing it becomes more of a job, a job that I plan to use to help my family through the bumpy times ahead. To each is his own. No one ownes the description of what CRH is. Hence no one can define it or make a blanket description that it is "supposed to be a hobby". Only you can decide that for yourself.
Xraywolf
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Bank coin machines in my area are free to those with an account, people with no accounts get charged a %, like coin star. Why would anyone pay 8.9% at coin star if they could just walk up to a bank and do it for free ?
You raise some valid points, bit if you created the account just for the coin machine, its probably safe to assume that you opened it with the minimum necessary to create the account, which is usually $50 ,, So banks aren't exactly swimming in profit from that.
Of course, maybe you have $1,000's in that account, but still, they are free to alter their policies on the fly when facing unprecedented situations, but you are right they should make a policy official and put it on a wall so that everyone knows the limitations to this free service.
You raise some valid points, bit if you created the account just for the coin machine, its probably safe to assume that you opened it with the minimum necessary to create the account, which is usually $50 ,, So banks aren't exactly swimming in profit from that.
Of course, maybe you have $1,000's in that account, but still, they are free to alter their policies on the fly when facing unprecedented situations, but you are right they should make a policy official and put it on a wall so that everyone knows the limitations to this free service.
diggummup
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Xraywolf said:
Same as in my area. There used to be a bank that let non account holders use them but people took advantage of it so now it's account holders only.
markmopar
Hero Member
Xraywolf said:
Wrong. The bank chain we're talking about here(TD) uses bags that the tellers change when full. Most tellers don't mind doing this since they're paid whether behind the counter or changing bags. Many branches have two machines.
This bank also uses their free machine as an advertising gimmick on TV and radio. They have a standing contract with the carriers delivering and removing coin that's a flat fee, so no extra cost to haul away the coins(I have a family member that works for them, that's how I know).
AGCoinHunter just ran into a manager that overstepped her authority. She flat-out lied to him.
Fortunately, he has other branches available.
I have 3 TD's available to me close by. One is great to deal with, friendly tellers and they don't care how much I bring in and have told me so. I once mentioned spreading the load(2k in halves per trip) around and they told me to save the gas and just make one stop. The second is OK, not quite as nice, but still good. The 3rd was a TD Banknorth before TD bought Commerce and the folks there haven't gotten used to TD's new Commerce-like procedures. They get whiney after $500 so I don't go there much.
Several other chains here have the machine for account holders free and a fee for non-holders.
I don,t know if you guys know this, but those guys in those Brinks or whoever trucks make lots of money picking up the coin bags from the banks. It's usually at least 25$ per bag. That's right, 25$ for a 50$ penny bag. Best to spread your rejects around and let the tellers know you appreciate them. They catch a lot of crap from impatient customers all day long. Bring treats once in awhile, it'll go a long way. If you have a branch with a Bean Counter in charge, probably best to move on without burning bridges. Managers can change fairly often in some places.
Goes4ever
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I'd like to know where you heard this? I know several people who work at banks, and this is not true at all.50centman said:
Mojo,
I'm sure it can vary from one place to another, but I know from a vault teller that I trust that this is what they were being charged. She started rolling her own coin again when she found out. I'm sure the big banks have contracts where they pay a fee, but the small ones aren't so lucky. Doesn't cost much to order boxes, the armored companies make up for it on the back end. They don't want us taking the bags because it's their bread and butter.
I'm sure it can vary from one place to another, but I know from a vault teller that I trust that this is what they were being charged. She started rolling her own coin again when she found out. I'm sure the big banks have contracts where they pay a fee, but the small ones aren't so lucky. Doesn't cost much to order boxes, the armored companies make up for it on the back end. They don't want us taking the bags because it's their bread and butter.
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