Dont buy coin wrappers! - Page 2
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  1. #16
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    Quote Originally Posted by Megalodon View Post
    I think we should give them reason to tolerate us and reward them with increased business. For example, I occasionally deposit the coins I dump in the coin machine. And I open cd's and tell them it is because they are patient with ordering boxes for me or keeping coin machines in the lobby. My dividend stocks pay higher dividends than my bank cd's and are not taxed as regular income like the cd's - but I buy the cd's specifically to thank the bank.
    I absolutely agree with all of this. Back when I was searching regularly, I moved CDs to banks that tolerated my CRH activities.
    Megalodon likes this.

  2. #17
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    Quote Originally Posted by Megalodon View Post
    I have asked my two pickup banks where I have standing orders if they have additional costs to order boxes for me. Both said they order for customers as part of their weekly coin order and there is no extra cost for them. When I checked banks, some told me they would not order boxes of halves - but not because they incurred extra costs. They had experienced people not picking up the boxes and changed their policies so they would not get "stuck" with a denomination they could not use - like halves in their vaults.
    There is extra expense involved, even if its just employee hours dealing with your CRH activities.
    Megalodon likes this.

  3. #18
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    Apr 2011
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    I keep all my wrappers from CWRs, store them in boxes of each denomination, and use them when I cant use the machine or bag deposit.

    Added Bonus: when I get a full box of used wrappers (about 500 or so), I can sell them at my local coin club for a few bucks.

  4. #19
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    It is encouraging that others feel free to disagree and that they won't do what they can easily "get away with". While the bank establishes its policies, and it is perfectly legal to establish a credit union account with an initial $25 deposit that allows unlimited access to the coin machine, I personally would feel guilty doing that.

    One of my pickup banks is held through a holding company and its stock pays a 3% dividend. So far, I have only bought cd's from that bank and they pay much less. (I'm more offended that the IRS taxes cd interest at my top ordinary income tax rate while my qualifying dividend tax rate is 0%.) But I'm not sure if buying stock in the bank, especially in its holding company, is as much a reward to them as buying a cd. I do point out that I do extra business with them as a way to say "thank you" for helping with a silly hobby.
    Last edited by Megalodon; Mar 01, 2019 at 06:01 PM.
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  5. #20
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    Quote Originally Posted by ArkieBassMan View Post
    There is extra expense involved, even if its just employee hours dealing with your CRH activities.
    This is why i offer to meet the Brinks truck in the parking lot and help unload my boxes right into my pickup truck...
    ArkieBassMan and cyberdan like this.

  6. #21

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    Quote Originally Posted by Megalodon View Post
    This is why i offer to meet the Brinks truck in the parking lot and help unload my boxes right into my pickup truck...
    Been a long while since I held up a Brinks truck in a parking lot, but what a great advantage to have it scheduled for you !!
    Nitric likes this.
    Improving the world, one post at a time

  7. #22
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    Sep 2013
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    Great opinions I guess.
    I don't CRH from banks.
    Only use that for wrappers.
    I don't buy boxes and I don't dump coins on banks.
    They tolerate YOUR hobby.
    Not mine.
    I save my coins... All of them.
    CD that! No fees, no BS.

  8. #23
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    Apr 2005
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    Any branch I bank with will give me wrappers. Cents in particular because they don't have to order as many!
    Nitric likes this.
    2019 COIN ROLL HUNTING TOTALS!

    Wheats..76
    Buffalos..0
    war nickels.0
    Silv Dimes...-0
    Silv Quarters-0/0
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    Walker 0
    Bens- 0
    Kenn. 90%- 0
    Kenn. 40%- 0
    Proof- 0
    Silv. Proof -0
    Commemorative-0/0

  9. #24
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    Jan 2011
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    Arkie, sorry I don't get it I guess. It is a bank and banks handle money. That's what they do. It's part of their business. Not just to take it in but to give it out. To each his own I guess. I don't feel bad at all using the services at my bank. But then again I have three accounts at one of my banks and they USE my money for little payment back to me. They should feel bad for doing this but they don't and I ain't mad at them for it.
    Back-of-the-boat and BC1969 like this.

  10. #25
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    Quote Originally Posted by Jon Stewart View Post
    Arkie, sorry I don't get it I guess. It is a bank and banks handle money. That's what they do. It's part of their business. Not just to take it in but to give it out. To each his own I guess. I don't feel bad at all using the services at my bank. But then again I have three accounts at one of my banks and they USE my money for little payment back to me. They should feel bad for doing this but they don't and I ain't mad at them for it.
    Banks are not coin stores put there to service the public, contrary to popular belief. They are for-profit businesses. I have once been told by a bank that I could no longer bring in any coins, as have MANY other CRHers over the ~10 years that I have been posting on this forum. I've had banks flat out refuse to sell me coins as well. One branch of a certain bank (at which I had an account), the head teller would not sell me even a single roll of cents stating, "those were for customers."

    Banks do NOT have to sell you coins or buy your rolls. Or, they can absolutely charge you a fee for either or both. All I was trying to say is that when I found a bank that was willing to do either for me, I was very appreciative and personally would not ask for "extras" on top of services they were already providing me for free, even though it was not free to them.
    BC1969 likes this.

  11. #26

    Sep 2012
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    Your luck runs out much quicker when you push it.
    Could be a generational thing, but there's not many easier concepts than that one.
    Nitric and tokameel like this.

  12. #27
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    Guess I would switch to a service friendly bank but then again up here we don't have that problem. The banks in our area bend over backwards to be customer friendly. Actually have never heard of the issues that you are having with your bank.
    Megalodon and BC1969 like this.

  13. #28
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    Quote Originally Posted by Jon Stewart View Post
    Guess I would switch to a service friendly bank but then again up here we don't have that problem. The banks in our area bend over backwards to be customer friendly. Actually have never heard of the issues that you are having with your bank.
    My credit unions actually advertise their coin machines as a service on their websites. The decisions to offer coin machines or ordering boxes is made by the bank or credit union's Board of Directors after discussion at Board meetings. It would be easy for a credit union's Board to see how much the coin machine adds to deposits and make a business decision to keep them or do away with them based on the data and input from bank officers. I am not on a Bank Board, but have been on Boards of other organizations and know how policies are set. There is great competition among banks and it is a time of many mergers. Banks compete for customers. This is why they offer bonuses to new customers and other benefits. Banks have several account types - each with specific benefits for particular groups. This is done to increase and keep business. If the bank offers something to students or senior citizens or those with high deposits, then the account holder is entitled to that benefit that has already been determined by the Board. I have been doing business with my pickup bank for over 30 years. I've had large home equity loans and lines with them to buy other properties or consolidate mortgages. I believe the relationship has been mutually beneficial. My pickup bank is offering $500 cash bonuses for new accounts. I don't consider that to be unfair just because I am not using it. I see no need to apologize for using a coin machine or having a standing order for boxes and I don't abuse it. I don't presume, like some do here, to know more about the calculus of the bank's business decisions than their Boards.
    Last edited by Megalodon; Mar 03, 2019 at 06:28 AM.
    Jon Stewart and BC1969 like this.

  14. #29
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    May 2018
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    Quote Originally Posted by Jon Stewart View Post
    Guess I would switch to a service friendly bank but then again up here we don't have that problem. The banks in our area bend over backwards to be customer friendly. Actually have never heard of the issues that you are having with your bank.
    At a time of such intense competition, they are wise to be customer friendly. I don't ask for wrappers, but if I needed them and they were offered to me, I would take them. I also occasionally take one candy from the candy jar at the bank, maybe one a month. Hope that's ok with some of the posters.
    Last edited by Megalodon; Mar 03, 2019 at 06:36 AM.
    BC1969 likes this.

  15. #30
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    Jan 2011
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    Banks in my area are offering $500.00 for new accounts all the time. I know of two people that deposit the minimum amount to gain that $500.00 and then close the account after the mandatory deposit time. I see nothing wrong with that as the bank sets the guidelines. $500.00, that equals a lot of coin wrappers. I could do that but just don't take the time out of my day. I think if those that are having trouble getting coin wrappers would close your account (assuming you have one) and tell them the reason your bank would see things differently.

    This is turning into beating a dead horse.
    BC1969 likes this.

 

 
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