Wells Fargos coin handling procedures

[Dok Holliday]

Wells Fargo's coin handling procedures

While dumping my coins from this weekend I found out a bit about Wells Fargo’s handling of coins that get put into their coin counters, I thought that maybe someone here would find this information useful. My Branches here in Wells Fargo dump to $1000 clear plastic bags of quarters and halves. Those plastic bags have “Wells Fargo, Des Moines” written on them. I assume this is a directive to the armor car company to take them to a Wells Fargo Center in Des Moines (where they also have a secondary corporate HQ and Datacenter) to be rolled and placed back into circulation and distributed back to Wells Fargo (and other banks that order their coin from Wells Fargo, like my credit union) in the same area. I am far enough east of Des Moines that I would assume Des Moines is the “coin hub” for the entire state of IA, and possibly further…but with Omaha on the other extreme end of the state I’m not 100% sure.

 

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[TheRockDoc]

Re: Wells Fargo's coin handling procedures

I have something to add about the WF in my area, I found out last week and it was very very very good to know. So up to this point, if i wanted to dump at wells, I would have to Roll the coin... Pain in the A$$ for sure. One day, I was in there and one of the teller who loves me (very important part of this game), says, "you know that you don't have to roll these coins right"? I said yeah, but I dont want to pay the fee to have you guys do it. She says No, No, No, when you are dumping these amounts, you can just bring it in loose, and we will put it in a secure bag, with your info and ship it to our corporate center... They will count it for you in the machine, and then just deposit the money in your account. I was sooooooo thrilled I about cried. Now lets see if it is accurate. One downside is that it could take up to a week for the money to get put into your account.

 

[Dok Holliday]

Re: Wells Fargo's coin handling procedures

All 5 of my WF branches have their own coin counters...I've always brought in less than $2000 and they have no complaints. Yet....