Bank of America changes coin procedure?

[Tommybuckets]

Hi all,
I just went by a BOA that I frequent and the teller informed me that as of May 2016 all customer coins are to be shipped out and that only MWR of coins (not halves unless you want $500) would be available. I detest BOA already and had been staving off the impulse to open an account to join the many people in my area who dump there and to feel more welcome when I pop in to crh. With a $1500 minimum to avoid fees I already felt an account there is impractical. Anyone else heard about not keeping coin on hand? I was under the impression that perhaps it was a regional change but banks in my area have no rhyme or reason. One ships out the tiniest amount of coin ASAP another sits on halves until they hit $1000 and ship them out. Some let tellers buy stuff others are strictly against it. Also I am curious where all the new CRHers are coming from? My area is getting hit harder than ever, its slower than ever and more junk dumps in the $100-$250 range than u have time to collect. My tellers have been saying there are more and more newbies approaching them every day. Maybe we bugged BOA too much for coins lol... I am trying to ease off the coin addiction but with my Excalibur in the shop I am hard pressed to get some metal.

 

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[kingskid1611]

Time to hit the small town banks and get away from those big "box" stores.....

 

[THBrock]

Agreed. That's why I opened a new account yesterday. Monthly fees for horrible service equals closed accounts soon.

 

[jcole77]

BofA is absolute CRAP!

My local branch has been only getting brand new nickels and cents for THREE months!

Their customer service is abysmal. If they don't have room for your coins in their drawers, they will ship them out and then it will take 7-10 days to credit your account. I don't think so!!!

 

[enamel7]

Yeah, it's at all of the BoA's. Everyone that's paid attention knows why this is happening. They're afraid of getting sued if the rolls are short!

 

[Oquario79]

Maybe I'm missing the whole BOA thing... are they not accepting rolled coin or do they only accept it in a bag? I've been able to dump rolled halves with no prob in my area and I have about 6-7 BOA'S in a 20 mile radius...or are they not able to hand out CWR only MWR?

 

[kcm]

All I know is that in our sparsley-populated area, I just found a bank that at the moment isn't requiring that I be a customer in order to dump coins. There also is no fee for dumping. I took in VERY nicely re-rolled rolls that they couldn't even tell had been looked at. When I explained how to notice my ends, they said they had no choice but to break open all the rolls and run them through their coin counter. So (5) people spent 20 minutes breaking open coins, then the machine counts it all out in less than 30 seconds! They don't care who brings in coins - they all go into the counter. That way, no hanky-panky with salted rolls.

That said, I bought a bag of cents there ($50) that was $0.05 short!!

Haven't tried taking coins into my normal bank yet - will do that soon. Then will decide where I get coin and where I dump it.

 

[silveraddict]

I took in VERY nicely re-rolled rolls that they couldn't even tell had been looked at. When I explained how to notice my ends, they said they had no choice but to break open all the rolls and run them through their coin counter. So (5) people spent 20 minutes breaking open coins, then the machine counts it all out in less than 30 seconds! They don't care who brings in coins - they all go into the counter. That way, no hanky-panky with salted rolls.

That said, I bought a bag of cents there ($50) that was $0.05 short!!

Haven't tried taking coins into my normal bank yet - will do that soon. Then will decide where I get coin and where I dump it.

Please explain to me the reason to reroll coins so that they look like they have not been searched.
I hate that.
I dont mind picking up rolls that I know have been searched that is part of the game. But to spend the time to roll them up like they have not been searched I just do not understand.
I guess "to each his own"
HH

 

[enamel7]

They will take customer rolls. They can no longer sell customer rolls. Thus no more solid silver roll chances. All due to another bank being sued because of their coin machine miscounting. I do have one teller that knows I don't care if I'm shorted. She said they will be saved for me, but only ask for her.

 

[kcm]

Please explain to me the reason to reroll coins so that they look like they have not been searched.
I hate that.
I dont mind picking up rolls that I know have been searched that is part of the game. But to spend the time to roll them up like they have not been searched I just do not understand.
I guess "to each his own"
HH

Is just my way. I was operating a vertical milling machine in my Dad's sheet metal machine shop by the time I was 10. Precision just came naturally.

Spent 26 years in woodworking (mostly hobby), and most people couldn't understand my need for such precision. I mean, wood expands and contracts with changes in temp, humidity or both, and much more than the precision I was working with. But it was easier for "me" to work that way, as that's how I was raised.

Am getting lax in my old age. No longer have to have the yard totally perfect every blade precisely cut!

 

[port ewen ace]

short CWR's are quite common, here is a tip---bring a magnet--if it sticks to Q, D, or N roll--you are about to get scammed with foreign junk so give the roll back to the teller & let them know it is crap. do a direct deposit with BofA & pay no fees on basic checking, I get 2 boxes of halves from them a week and they hold odd coins for me.

 

[baddbluff]

I owe most of my silver stack (which has long since been sold minus about 10 coins) to BofA. For years they took my bags & gave me immediate credit. I was able to do 12-20 boxes/week of halves with only a $3k bankroll. They still take my bags, but I have to wait a few days to get the money. Still way better than rerolling. And I've never paid 1c in fees. I have a premium checking account with no minimum balance & a free safe deposit box (which houses all the key date Morgan's I bought after selling my silver stack). I did have a home loan with them at one point, but they sold it to someone else, and I got to keep my acct. A few of my best boxes came from BofA as well (yes, I dumped and picked up at different branches for a while with great success - in spite of the general advice to not dump into the same pool). No complaints here about BofA!

 

[enamel7]

Oh I like I can get boxes. Problem is can't get any CWR's.

 

[THBrock]

I owe most of my silver stack (which has long since been sold minus about 10 coins) to BofA. For years they took my bags & gave me immediate credit. I was able to do 12-20 boxes/week of halves with only a $3k bankroll. They still take my bags, but I have to wait a few days to get the money. Still way better than rerolling. And I've never paid 1c in fees. I have a premium checking account with no minimum balance & a free safe deposit box (which houses all the key date Morgan's I bought after selling my silver stack). I did have a home loan with them at one point, but they sold it to someone else, and I got to keep my acct. A few of my best boxes came from BofA as well (yes, I dumped and picked up at different branches for a while with great success - in spite of the general advice to not dump into the same pool). No complaints here about BofA!

12-20 boxes a week? Different locations? Or how often do they order from the reserve?

 

[Zomotion]

This is the same all they way out west. Some branches don't care and will sell cwr if you have a good relationship but other branches are strict to the policy... No cwr sold to customers. I'm hoping this will increase my finds in boxes

 

[jcole77]

Yeah, it's at all of the BoA's. Everyone that's paid attention knows why this is happening. They're afraid of getting sued if the rolls are short!

I doubt it. All they have to do is weigh the coins. It takes no time at all to even weigh 100 rolls of coins...

A roll of halves will weigh 224-225 grams
A roll of quarters will weigh 226-227 grams
A roll of dimes will weigh about 113 grams
A roll of nickels will weigh 199-200 grams
A roll of cents will weigh at least 124 grams, more depending on how much copper there is in the roll.

It's about BofA corporate being a bunch of (insert your favorite expletive or other derogatory term)...

 

[jcole77]

I owe most of my silver stack (which has long since been sold minus about 10 coins) to BofA. For years they took my bags & gave me immediate credit. I was able to do 12-20 boxes/week of halves with only a $3k bankroll. They still take my bags, but I have to wait a few days to get the money. Still way better than rerolling. And I've never paid 1c in fees. I have a premium checking account with no minimum balance & a free safe deposit box (which houses all the key date Morgan's I bought after selling my silver stack). I did have a home loan with them at one point, but they sold it to someone else, and I got to keep my acct. A few of my best boxes came from BofA as well (yes, I dumped and picked up at different branches for a while with great success - in spite of the general advice to not dump into the same pool). No complaints here about BofA!

My local BofA branch absolutely hates half dollars. One time they wouldn't even take them.

 

[jcole77]

They will take customer rolls. They can no longer sell customer rolls. Thus no more solid silver roll chances. All due to another bank being sued because of their coin machine miscounting.

So wait, it's the coin machine miscounting? What in God's name does this have to do with customer wrapped rolls? Typical asinine BofA crap.

 

[jcole77]

Please explain to me the reason to reroll coins so that they look like they have not been searched.
I hate that.
I dont mind picking up rolls that I know have been searched that is part of the game. But to spend the time to roll them up like they have not been searched I just do not understand.
I guess "to each his own"
HH

I see no problem in that practice at all. I put a little number with the weight of my roll in grams on it when I get it, and I re-roll it in the same roll. We have no coin counting machines at any of the banks where I live.

 

[kcm]

Carried in re-rolled coins today to my regular bank - the one I've been using for the past decade plus! Had a box of quarters and 4 rolls of small dollars. The small dollars were EXACTLY as I had gotten them from this very bank. However, they ran the rolls through their coin counter and it kicked out 3 Canadian dollar coins. Exchange rate is 29%. There was also a Canadian quarter, as well as a 10 pence coin, wherever the hell that's from that were in the quarters.....yes, that also came from THIS VERY BANK!! We were forced to give the Canadian coins back at the exchange rate....which means we owed money! To top it off, they flat out refused to even look up to see where the 10 pence coin came from!

Now if THAT'S not bad enough, I asked for (2) boxes of nickels, a box of dimes, and the rest in cents. When it came to the cents, the woman was muttering under her breath about how WE shouldn't be able to do this; about how NOBODY should be able to exchange coins; and that she wanted to stop this from ever happening again!!

....I think I just found my new DUMP bank!!

Oh, she did say that they'll accept Canadian cents. Gee, what a shocker - Canadian cents are heavier than ours, and were made of 98% copper long after the USA switched to zinc! ...Makes me glad I'm hoarding copper for a while!

That's really sad - been banking there for well over a decade - and now THIS??!??!?? Yet when I was at the other bank where we weren't even customers, they were MORE THAN willing to work with me any way they could! ....Where do I sign up??!??!??!??!??

...Sad thing is, when they got the cent boxes from the vault, we were only about 15' away from the vault door, at the nearest teller window they have. I wish now I had been way down at the far end!!