Change of Bank Policy?

[MrSchulz]

I stopped at my usual pickup bank to grab some rolls with my dad. After buying $400 in Halves and $100 in Nickels the friendly teller came back to say she wont charge us this time, but for rolled coins they will be charging .15 extra a roll, or 4.70 a box. And also let me know that to cash coins in whether you deposit or not, you will be charged $1.00 for each $100.00 that goes through. Well I went through the coinage, and went to my dump/pickup bank. I dumped them and shared the story with them. They said if your just getting a box or two a week (usually what I do) they have no reason to charge. And she also said she has never heard anything from the Branch Manager about charging a $1.00 fee for every $100.00 going through. She said they are in a different district then the other bank. Looks like im going to keep dumping at my dump banks, but ill have to start the search for pickup banks. I really am liking brinks because i've been finding loads of old nickels, silver, and wheaties. Im banking at US BANK by the way. And today was the first time I ever did over $200.00 worth of coinage. Happening to anyone else?

 

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[BuffaloBoy]

$1 fee for every $100 dumped... i think you should bring $500 in pennies to that bank... they will only charge you $5 for dumping there

 

[MrSchulz]

I would love to do $500 in Pennies or Nickels. Everytime I try to get a box of cents, its full 2012 D. Last time I just had the teller open to save us both a hassle. I bought 6 rolls (for my collection) and bought nickels.

 

[maverick]

$1 fee for every $100 dumped... i think you should bring $500 in pennies to that bank... they will only charge you $5 for dumping there

+1, If I could bring my dumps to just one bank and not have to drive all over every week to spread out my dumps, that would save me alot of time and gas. 1.00 for every 100.00, I would definetly be bringing in my halves and exchanging for cash all the time and up my volume. Good luck, Maverick

 

[Bigheed]

they are trying to charge you business account fees for a personal account. Just simply tell them if they try to do this you will contact the OCC and report their false charges.

 

[ihittheskislopes]

Are they going to be charging everyone this or just you? It sounds like thye are trying to push you away or atleast make money off you if they cant.

+1, If I could bring my dumps to just one bank and not have to drive all over every week to spread out my dumps, that would save me alot of time and gas. 1.00 for every 100.00, I would definetly be bringing in my halves and exchanging for cash all the time and up my volume. Good luck, Maverick

Not me thats $5 bucks a box Im only doing 2 boxes a week now but plan on doing 10+ at the end of the summer but noway Im paying $50+ a week to dump

 

[MrSchulz]

They said they are doing it for everyone. Because "They have too many coin collectors". I've always loved brinks rolls. I've gotten more out of brinks then I have CWR or any Paper rolls whatsoever.

 

[maverick]

Are they going to be charging everyone this or just you? It sounds like thye are trying to push you away or atleast make money off you if they cant.



Not me thats $5 bucks a box Im only doing 2 boxes a week now but plan on doing 10+ at the end of the summer but noway Im paying $50+ a week to dump

I only do 4 boxes a week, but I only dump once a month at any bank, well, dumping a 1000.00 in halves twice a week takes gas and time(probably 10.00 in gas for some branches I have to travel to every now and then, not all though),I don't use bags to dump and no coin machines here. I have to reroll my dumps, so if I could just drive 1 mile up the road and dump as much as I wanted to without having to spread it out, I would, it would benefit me in time also, which is valuable to me too. 1 40% would cover that. I don't pay to dump or pick up, but if it came down to it, and I had to, I would, if the boxes were producing good. I would give up 1 40% to save an hour of my time running around to dump coin. Chances are that this won't happen though, so I don't worry about it.HH, Maverick.

 

[SilverForBrains]

so 9.70 to pickup and dump a box of halves. a good average is 2-3 40%ers per box. what can you quickly sell these for now, 3 bucks apiece? I know it's more on ebay but with fees and insurance let's say 3. so 2.5 x 3 = $7.5 per box on average. you would have to have great averages or hit some amazing dream boxes to make it worth it. I may be tempted to put up $194 and buy and dump 20 boxes of halves with them, but that's ~65 40%ers you'd have to find to make the fees back. those fees ain't good

 

[BlackOut]

so 9.70 to pickup and dump a box of halves. a good average is 2-3 40%ers per box. what can you quickly sell these for now, 3 bucks apiece? I know it's more on ebay but with fees and insurance let's say 3. so 2.5 x 3 = $7.5 per box on average. you would have to have great averages or hit some amazing dream boxes to make it worth it. I may be tempted to put up $194 and buy and dump 20 boxes of halves with them, but that's ~65 40%ers you'd have to find to make the fees back. those fees ain't good

Not factoring gas, time, and effort which all have a cost associated with them. Not worth it unless you are mining in a silver rich area.

 

[maverick]

Sorry, not trying to cause a debate here( I hate when that happens on here), I was just talking about dumping boxes( forgot Shults said they wanted to charge to pick up too) for 5.00 each, If I was getting good averages( say15 silver ever 2 boxes) then I wouldn't mind paying 5.00 a box to dump, no questions asked, as many as I wanted. If this was a last resort and I had no way around it, and again if the average was 15 silver for 2 boxes,I would, but I don't think it will come to this. Good luck to everyone hunting today, Maverick.

 

[Bigheed]

Schulz - Just have them show you in their printed schedule of fees EXACTLY where it says they can charge non-business accounts these coinage fees, I have been successful many times by simply holding my ground.

If they insist just say that you are going to file a complaint with the OCC as I said for charging fees to customers that are not in the "Published Schedule of Fees".

They can say whatever they want to discourage people and even charge people if they agree to it, but you have the right to say no and protest with the manager and the OCC (office of the comptroller of currency, the gov't agency that regulates commercial banks, not sure if they have much sway over private banks or credit unions?).

But US Bank is definitely a large commercial bank and under their jurisdiction.

Hope you are successful!

Bigheed

 

[MrSchulz]

I picked up two boxes of nickels today at another branch with no problem. My dump/partial pickup bank across the street from my house ive never had an issue with other than getting them to get me boxes