Finally cut off at bank.

[Spartcom5]

So it's been only 2months of crh almost... I get an average of $600 a day in coins and deposit at various wells Fargos in my area. I do this as a fun interesting hobby not to make money.... Well fargo thought it was appropriate to begin charging me for my coin deposit... $18 for $800 and I made no money at all on the $800. I'm in a dilemma idk what to do. Any help? I have a account at Wells Fargo nowhere else? Ugh very frustrating

 

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[mxh5891]

If you have a TD bank near you you can open an account there. Then you can use their coin counter for your dumps. $600 dollars in coins a day is lot of coins. I hope you spread that out over a bunch of Wells Fargo banks..

 

[foofighters]

So it's been only 2months of crh almost... I get an average of $600 a day in coins and deposit at various wells Fargos in my area. I do this as a fun interesting hobby not to make money.... Well fargo thought it was appropriate to begin charging me for my coin deposit... $18 for $800 and I made no money at all on the $800. I'm in a dilemma idk what to do. Any help? I have a account at Wells Fargo nowhere else? Ugh very frustrating

They are charging you to use the coin counter?

 

[Spartcom5]

Really $600 is a lot?? I thought people did wayy more than that per week! No TD banks around here

 

[jun808bug]

I had the same problems in the beginning. If you don't have an account at a certain bank, you are only allowed to exchange $100 max. My solution: Open an account at EVERY bank in town! Even the small ones. Even credit unions that will allow you to open an account. I have 6 bank accounts & 2 credit union accounts. Most of the banks in my area has free checking accounts with no minimum balance. Feel each bank out. See if they give you problems in bringing in large amount of coins. Decide who would be the pick up/dump banks. Your half dollar dump bank could be your dime pick up bank. Your dime dump could be your half pick up etc.... The bank that charges you to deposit, make them just your pick up bank.

 

[mxh5891]

In your original post you said you did $600 per day...did you mean $600 per week?

 

[GlenDronach]

I'm assuming there is more to the story on your end. $600 a week isn't bad, in many cases $600 a day isn't bad if you have a rotation.

Exactly what are you doing?

If it's just one branch, skip that branch for a while. there are other branches out there, and other banks too.

 

[Spartcom5]

Yea 600 a day sometimes 1000 a day. I do rotate my bank I have like 6 dump banks. I deposit coins everyday. I think it may have been the 300 ikes I gave them... not sure. Just praying they don't call the other Fargo and tell them to start charging. It's just I don't want to travel too far to deposit coins

 

[nube250]

You have to ease into it.. and most importantly form a good relationship by being friendly. If they don't like you they will charge you or cut you off.

I dump $1000 every Tuesday at one bank everyone knows who I am and what I'm doing but they smile and say chit chat because I am nice and apologetic about giving them extra work..

If it's busy wait till the line is gone.. You are costing them money...

 

[FormerTeller]

$600 - $1,000 per day after only two months is crazy, IMO. You've got to have a rock solid dump plan to move that much coin without getting cut off.

 

[mxh5891]

Sounds like you went in guns a blazing and wore out your welcome. I felt bad about doing a box of dimes a week. Sounds like you need to bring them in some cookies or a pizza. I recommend slowing down to maybe cutting it back to $500 a week. Build the relationships and then slowly increasing your amount searched. If you want to search your volume you have been doing your going to have to start opening new accounts at banks and start traveling to banks farther away.

 

[ArkieBassMan]

Its true that others are getting away with more volume than you, but $3000-$5000 weekly is certainly not what I would call "low volume." All banks are different. I'm confident in saying that for every CRHer doing the volume you were doing, dozens have been cut off for less.

You were advised weeks ago that daily trips to the bank was not conducive to long-term success in the hobby. But, you did not heed that advice, and now you want more advice that you likely wouldn't take to heart either. Pass.

 

[foofighters]

I agree with arkie on the daily part. If you are in the same bank more than once a week they are going to get sick of you in a hurry.

 

[Spartcom5]

Its true that others are getting away with more volume than you, but $3000-$5000 weekly is certainly not what I would call "low volume." All banks are different. I'm confident in saying that for every CRHer doing the volume you were doing, dozens have been cut off for less.

You were advised weeks ago that daily trips to the bank was not conducive to long-term success in the hobby. But, you did not heed that advice, and now you want more advice that you likely wouldn't take to heart either. Pass.

Um I go to that bank once a week I took your guys advice. I have 5 dump banks some are further away from me. I have good relationships with all my banks it was totally random they wanted to charge me. I told my other dump banks this new and everyone was shocked.... Completely they had no idea why they would do that. I don't understand why that one bank cut me off. First off I don't think they liked the halves I brought them, second they think I make a lot of money off of what I do, and third they have never reallyy like me the best. They have always been indifferent towards me. The bank is full of silver hunters, I guess it's no surprise that they did this. But Arkie I really don't like you saying I didn't take your guys advice, I have a great routine. How do you think I've managed over 150 silver halves in my first two months? I followed everything you guys have told me. I do very large volumes only because I'm really fast at searching and packing rolls back up... But don't say I didn't take your guys advice. I'm very appreciative of all I've learned here. Can I ask where I said I went to this bank Daily? Maybe once a week or sometimes twice if I'm in a hurry
I appreciate the criticism but you don't have to be so harsh jeez I didn't even do what you said I did
Doesn't matter anymore I cleared up my situation with my other banks today and they all said they would Take my coins nd its cool

 

[mxh5891]

Glad you cleared it up with your other banks. Some things are out of your control. You can be the nicest guy in the world and still get cut off at a bank. I bet if you wait a few months and go back or if you notice some employee turnover there then they can be a dump bank again. If you find another one of your dump banks cuts you off you may seriously consider slowing down some. You are doing a very high number of coins searched and I know I would be sick of seeing you in my bank I you were dumping large amount of coin weekly in my bank.

Care you dumping everyday at different banks? Or are you saving up for one large dump (lol) at the end of the week? I bet if you set up a good routine and only visit a dump bank once every 2 or 3 weeks then they will barely notice your activity and less likely to cut you off.

 

[Joe777Cool]

You told all your other dump banks that another bank was charging you to dump coin there?

I don't see this ending well for you.

 

[Spartcom5]

Hahahaha omg smh I was so mad I was so sure I did nothing wrong with the amount I was dumping at each bank. I went back to that same Wells Fargo today to ask them why they tried to charge me to get to the bottom of this whole thing. They said well we have to pay to have them shipped out for non customers of our bank. I looked at him and said, " my entire family has accounts at Wells Fargo." Needless to say they were shocked, they had no idea we had Wells Fargo accounts. They changed their minds real fast after that so I can bring coins back there. I knew I didn't do anything wrong! Haha the looks on their faces was priceless though, they were horrified. Joe I don't see how it could've ended badly for me though but whatever

 

[mxh5891]

Hahahaha omg smh I was so mad I was so sure I did nothing wrong with the amount I was dumping at each bank. I went back to that same Wells Fargo today to ask them why they tried to charge me to get to the bottom of this whole thing. They said well we have to pay to have them shipped out for non customers of our bank. I looked at him and said, " my entire family has accounts at Wells Fargo." Needless to say they were shocked, they had no idea we had Wells Fargo accounts. They changed their minds real fast after that so I can bring coins back there. I knew I didn't do anything wrong! Haha the looks on their faces was priceless though, they were horrified. Joe I don't see how it could've ended badly for me though but whatever

You basically gave all your dump banks the idea that if they get tired of your constant dumping that they just need to charge you. I feel like if you were smart you would see them threatening to charge you as a warning that you may be wearing at your welcome at your dump banks. You may need to think about starting to lessen the amounts searched. 600 to 1000 a day adds up really fast.

 

[Spartcom5]

I only talked to one other bank and they already told me that it doesn't cost any extra for them to ship my coins out since they throw them in with all the business' coins they already ship out. So I'm good, but I can definitely see what you mean! I guess it worked out for me then! I have some solid dump banks then!

 

[Joe777Cool]

Hahahaha omg smh I was so mad I was so sure I did nothing wrong with the amount I was dumping at each bank. I went back to that same Wells Fargo today to ask them why they tried to charge me to get to the bottom of this whole thing. They said well we have to pay to have them shipped out for non customers of our bank. I looked at him and said, " my entire family has accounts at Wells Fargo." Needless to say they were shocked, they had no idea we had Wells Fargo accounts. They changed their minds real fast after that so I can bring coins back there. I knew I didn't do anything wrong! Haha the looks on their faces was priceless though, they were horrified. Joe I don't see how it could've ended badly for me though but whatever

I've been sitting here for 5 minutes trying to figure out how to explain this to you......but I feel like it's going on deaf ears so i am not going to bother. I'll leave you with this one piece of advice: the less you tell your dump banks, or any bank for that matter, the better.