Well, its official...

[TheMastermind]

Well, it's official...

My sweet, sweet bag dump situation is no more...

The branch of TD Bank that for the last two years has let me dump bags for instant cash has just informed me that they will no longer accept bagged coin.

It was a good run.

Now I must go shopping around for a new dump bank. Hopefully there is one out there in my area that is willing to accept bags of coin on a regular basis.

 

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[Avago]

Sorry to hear it MM, I've never had a bank accept bagged coin for me... I'm glad you got to take advantage while you could! Good luck sorting out a new dump situation

 

[silveraddict]

Good luck finding another good dump bank.

 

[BuffaloBoy]

Sorry to hear MM, hope you can find a bank willing to accept bags! How is td going to deal with alternative coin dumping now?

 

[Poor Mans Gold]

I'm a joining ya. I used the TD banks for years. When they turned off their machines, I went back to another local bank, opened an account to use their machines.
They are closing theirs the end of June. I had my bank stop ordering me my cents, nickels and dimes. I continued with the halves. Recently I spoke with TD and they
said they would accept rolled coin. A couple of days ago I went through my coin supply company and ordered a 20,000 (piece) case of cent and dime wrappers. And
five 1,000 (piece) nickel wrappers. I have since gone back to my ordering bank to start the four boxes of dimes, two boxes of nickels and eight boxes of cents.
Something told me I had to continue to coin roll hunt. Last week I had three boxes of cents from weeks ago to search. The last box produced an 1898 Indian cent in
VG condition. The boxes will be here in two weeks.

 

[maverick]

Hey MM, I'm packing for a trip to Tennessee right now but I will send you a PM when I get time in the next day or so and explain to you how I dump in bags with B of A. HH, Maverick.

 

[TheMastermind]

Hey MM, I'm packing for a trip to Tennessee right now but I will send you a PM when I get time in the next day or so and explain to you how I dump in bags with B of A. HH, Maverick.

I would appreciate that, thank you!

 

[TheMastermind]

My friend at TD told me that since they have phased out the coin machines, Garda will no longer be contracted with to pick up bags. All accounts, business account customers included, that bring in coin will have to bring them in rolled.

I was made aware a few weeks ago that this might happen. And now it has come to pass.

I made some rounds on Saturday morning searching for a bank that will accept bags of coins, but to no avail.

I have a credit union that is moving into a new building around the corner from my house, they will have a coin machine. I'm going to stop into their old building and see if they will accept bags. They are the only ones with a coin machine around me now. Might be going back to dumping through machines if they won't accept bags, which will drastically cut into the volume I can do.

 

[TheMastermind]

BACK IN BUSINESS!

Over the last two days I called around to all the banks in my hunting area, found quite a few that were willing to accept bags. Most wanted me to open a business account with them, and all bag dumps would be subject to verification and processing before depositing. That just wouldn't do.

Found a couple banks that didn't require a business account, but would take upwards of two weeks before funds would be deposited. Nope, still wouldn't do.

Then, finally, I stumbled upon a branch of PNC that didn't require me to open a business account and didn't require processing and verification before deposit. Yes!

So, I opened one of PNC's Virtual Wallet accounts. I attached my son to the account, who is a high school student and will be entering college in two years. So, as long as he is a student (up to age 23), there is no monthly fee service for the account.

I am able to drop off bags and have my account immediately credited the value of the bags. And I am able to make an immediate withdrawal once the deposit has been made. Then they will send out the bags for verification and credit or debit my account accordingly.

Dumped my first two bags yesterday right after opening the account.

 

[Avago]

Better be careful about what coin processor that PNC branch uses... You don't want to dump into your own supply!

 

[BuffaloBoy]

That's awesome MM! I've had nothing but issues with pnc bank though and I closed my account a while back. Hope it works out well for you.

 

[Vdubguy]

I sincerely hope that PNC is nicer to you than they were to me.

I had the exact same dump set up as you are describing. After about a year I received a letter in the mail (which included a packet of coin wrappers) that pnc will no longer except "large" quantity of coin for deposit and ALL coin that is to be deposited must be rolled and no amount larger than $100.00 at a time would be excepted.

Maybe start out slow to get a feel for them.

I've tried talking to all the branches in the area, and what the letter said was correct. AND they refuse to order halves.

Now my wife and I just use them for our regular banking and no longer CRHing activities.

HH

Vdubguy

 

[TheMastermind]

Yeah, I'm willing to bet this relationship with PNC won't last. Already looking for another option.

I spoke with the branch manager over the phone and told her what the deal was, before I even stepped foot inside the bank. I told her that I was in the market for a new bank, that the one I was with previously stopped accepting large coin deposits. I explained that I would be bringing in one thousand dollars in coin, four to five times per week. She assured me they could handle it no problem.

So I go in, it must have been a slow day, and talk directly with the branch manager, the head teller/vault manager, and a customer service rep who did the account opening for me. All three agreed, they would gladly accept my bags as long as I had both my account number and the value of each bag clearly marked. Sounds reasonable to me, so I opened the account.

I had two bags with me, both containing $750 in halves, to show them what I would be bringing in and to get a feel for the process. And like they said, they accepted them with no problem. Got the cash and I was out of the door.

Went in yesterday to drop off one bag containing $1000 in halves. I do the deposit, hand the bag over the counter, and the head teller/vault manager comes over and says, "we can't take that, we don't have enough room! I don't know what I'm going to do with all of these coins!"

So I replied, "yesterday, you told me it was no problem. That you can and would accept my bags, I even gave you notice before I opened the account that I would be looking to come in four or fives times a week with these bags."

She just rolled her eyes and walked away.

 

[smokeythecat]

One of my dump banks just stopped.

 

[BuffaloBoy]

Yup sounds typical for pnc bank. Back when I had an account with them at one branch I was having the head teller order me ten boxes at a clip every two weeks for two years. Since then they've gone through two different head tellers, each worse than the previous. All other pnc banks are extremely rude to me so I closed the account.

The good head teller was at this branch for 15 years and she knew exactly what I did. She left the company for a better job and even put in a good word for me, she also saved me any silver that customers deposited since she couldn't keep them for herself, which I snuck her gift cards from time to time and everybody was happy.

I miss those days..

 

[jr98119]

I sincerely hope that PNC is nicer to you than they were to me.

I had the exact same dump set up as you are describing. After about a year I received a letter in the mail (which included a packet of coin wrappers) that pnc will no longer except "large" quantity of coin for deposit and ALL coin that is to be deposited must be rolled and no amount larger than $100.00 at a time would be excepted.

Maybe start out slow to get a feel for them.

I've tried talking to all the branches in the area, and what the letter said was correct. AND they refuse to order halves.

Now my wife and I just use them for our regular banking and no longer CRHing activities.

HH

Vdubguy

Yup, same thing happened to me, so I now know that it was PNC policy, and not that they were out to get me. They still let me use the coin counters with no problem till I go in a few weeks ago, and there's a note on the door that PNC has removed all coin machines "to serve you better." Mastermind - where is the PNC that will accept your bags?

 

[46Wheat]

I was informed last month that NBT banks here in upstate ny will no longer have coin machines and the only coin they will accept is rolled . My problem is I live in a very rural area so my options are very limited as to any other banks .

 

[smokeythecat]

Only 1 of my banks will take bulk coins, a little credit union, and through their coin machine. Fortunately there is no charge.

 

[ugotit22]

My sweet, sweet bag dump situation is no more...

The branch of TD Bank that for the last two years has let me dump bags for instant cash has just informed me that they will no longer accept bagged coin.

It was a good run.

Now I must go shopping around for a new dump bank. Hopefully there is one out there in my area that is willing to accept bags of coin on a regular basis.

So happened to me yesterday

 

[TheMastermind]

Yup, same thing happened to me, so I now know that it was PNC policy, and not that they were out to get me. They still let me use the coin counters with no problem till I go in a few weeks ago, and there's a note on the door that PNC has removed all coin machines "to serve you better." Mastermind - where is the PNC that will accept your bags?

On the outskirts of Philly. Near where it's purported that Ben Franklin flew his kite experiment.