Bank manager says they are considering fees or limits on dumps

[Zero]

I pushed my luck at my dump bank. I have been steadily increasing my volume to over $2000 a week in halves plus some dimes and nickels. When I was dumping a $1000 a week, the machine didn't fill-up but it turns out the bag is exactly a $1000. So, when I did my second load of $1000, they hadn't changed it and they had to change the bag. No big deal...right...well I'm afraid it put me on the radar enough that the manager would look for me and give me a little fee/limit talk. It's the only place in town with a counting machine...I'm bummed. My current plan is to back off for a week and then try to spread my two $1000 dumps with one on Saturday. I am hoping they will forget about me...unlikely. Any advice on how to respond if they hit me with fees and/or limits? I guess there's not much to say but okay and close my account if we are talking fees...limits could be worked around as long as it not something stupid like a $100 a week. Just talking it out...thanks for listening.

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[OtlFrutiger]

Ahhh crap! That sucks! I have a feeling you are talking about US Bank, right? Either way, you need to make friends with the teller who is in charge of the change vault. Be super nice, bring in treats, find common interests to converse about, AND MOST OF ALL SAY THANK YOU WHEN THEY COME OVER TO CHANGE THE BAG. You can still save it.

 

[Golden Eagle]

I'd just be super nice to them. If that doesn't work, you can always try re-rolling your coins and then dropping them at another bank. It'll take longer but will still get the trick done.

 

[TimZim]

Do what you have to do be nice get them a big bag of candy or or something good. I have a bank that the guy hates me Not sure why So my step son brings the bags in and i stay in the truck.

 

[Joe777Cool]

You already know what you need to do, you said it in your first sentence. Throttle down on the volume and/or spread it out.

 

[garren]

I'm afraid this may be the norm soon. I was in my bank about 2 weeks ago making some changes to my business account. I also took about 60.00 in halves and quarters that I had. I ask the personal banker to deposit it while we were working on my accounts. He said "sure, I'll have the tellers start counting it." Which I asked "what happened to our coin counting machine in the back corner"? He explained that they no longer "deal" with coin but it wouldn't be a problem to take mine this time since it was a fairly small amount. I said what about people who own vending companies....sorry they'll have to use a third party coin service.

EDIT* - I forgot to mention I was making account changes because this bank now has limits on how much CASH you can deposit per month before you have to a pay a fee!

I told my uncle, who happens to own a vending company, and he says its just another step towards a cashless society...

 

[GlenDronach]

Maybe, stop dropping $2000 on that bank a week? Sounds like they were fine with $1000 a week.

 

[OtlFrutiger]

The quantity doesn't really matter. It's all in how you conduct yourself. I drop $6000 a week at one of my dump banks and they are happy to see me when I walk in the door.

 

[Zero]

Good advice all. I am going to do my best to keep this going. I think I am the only CRH using this bank (since it filled up at exactly $1000.50) and they don't seem to know what to think of me. I have told them that I collect coins. Last week they cut me off from getting boxes of dimes and quarters (actually they limited me to $100 a week which is basically cutting me off). They said they didn't have enough to spare. I smiled and said I understood, no problem. They roll their own coins (except for half dollars which they send off) and it is possible they run a slim margin with their coins. I am probably going to cut back to $1000 a week and maybe hit them on Saturday to avoid the bank manager (out of sight...out of mind...hopefully he doesn't work weekends). Happy Hunting - Crappy Dumping

 

[BigMoses777]

Ok all, funny this came up tonight because I just ordered my first "big" order and am looking for some of the same advice. I have accounts at Wells, US BANK, SAC fed, a couple smaller credit unions and am looking to open one at A first national. I'm getting 10 boxes of halves and 10 boxes of nickels next Friday from wells. Do you go to multiple branches of the same bank to dump? I know not to go back to Wells but curious what the "high rollers" do.

 

[Infowarrior]

You ordered 6k of coins from 1 branch? Man that is a big order :P

Hope you can pick it up all at once, as my experience says they do not like holding coins for customers for more than a day or 2 max.

I would spread it out for sure.

 

[mercury1]

You already know what you need to do, you said it in your first sentence. Throttle down on the volume and/or spread it out.

Zero, I think joe has nailed it here. Others also have given useful feedback. Ill just give you my situation I have worked through. I was hitting three different branches that had coin counters and recently, a few months ago, got some push back. Branch A, where I opened my account, had the nicest most helpful tellers. Branch B, was kind of middle of the road, and branch C was downright hostile to me, always some snide comments while changing bags. My dumps tended to run in the $600-$1400 range. I brought them mostly dimes, nickels and cents, sometimes quarters. Dumped my halves at TD in bags. Anyway, I got warned about impending fees of 5%. I tried to work things out with them to avoid fees but branches B and C refused. Too much wear and tear on there machines and the machines were really only for occasional use by people cashing in piggy banks, blah blah blah. At branch A I was able to work out, $200/week with no fees. Now that's a big reduction in my dumping but it's still valuable to me and now I only bring them cents and nickels and guess what, they still change bags. I have reduced my dime volume to 1 to 3 boxes/week. Those dimes get wrapped and dumped on branches B and C. I deposit them in my account. I'd rather not but it prevents them from telling me to drag it like I suspect they would if I just asked for cash. I take the cash back out when I visit branch A. If the IRS questions this I'll just explain to them about what I'm doing. I have gotten really fast at wrapping dimes and it isn't a big deal to do it. Also, I tend to spend dime rolls for small purchases. I think they thought I would close my account after being cut off from the counter but they are still a useful dump bank and my "token account" as they called it, is now seeing a lot more usage. I actually think I might be able to fix things at B and C, to dump small amounts in the counters again or I may try to get them to accept bagged dumps, like I do at TD. One way or another, I keep on rollen. HH

 

[pong12211]

If I was you I would treat this situation just like having a woman mad at you.. Give a gift.. I mean whats this manager do for fun.. A round of golf would probably save you alot of money in dump fees in the long run.. Just my opinion..

 

[FormerTeller]

I think I may have found part of your problem...

I pushed my luck at my dump bank. I have been steadily increasing my volume to over $2000 a week in halves plus some dimes and nickels.

Last week they cut me off from getting boxes of dimes and quarters (actually they limited me to $100 a week which is basically cutting me off). They said they didn't have enough to spare.

So you're dumping $1,000 to $2,000 per week, some of which you picked up from the same bank? Yeah, I'm not at all surprised the bank manager has a problem with that. You know the CRH rule about not dumping where you eat, right?

 

[FormerTeller]

If I was you I would treat this situation just like having a woman mad at you.. Give a gift.. I mean whats this manager do for fun.. A round of golf would probably save you alot of money in dump fees in the long run.. Just my opinion..

Gotta be careful with that. Gifts of food that the whole branch can use are usually not an issue. "Gifts" to one person in authority can and should be considered a bribe, are against most bank's policies, and may be illegal.

For example, this is from US Bank's Code of Ethics and Business Conduct (https://www.usbank.com/hr/docs/policies/coeHandbook.pdf):

4.3.1.2 Accepting Gifts
​

You may never solicit or accept a gift for yourself or a third party in exchange for favorable business treatment.
​

Exceptions include:

Food or beverages that cannot be returned easily, as long as
​

they are received on an occasion when gifts are customary, not
​

extravagant and shared with coworkers.
​

 

[maverick]

I have a bank that the guy hates me Not sure why

Lol, come on Tim, you know why, lmao. HH, Maverick.

 

[enamel7]

I think I may have found part of your problem...

So you're dumping $1,000 to $2,000 per week, some of which you picked up from the same bank? Yeah, I'm not at all surprised the bank manager has a problem with that. You know the CRH rule about not dumping where you eat, right?

I was wondering if I was the only one who read that. Definitely a no-no.

 

[BigMoses777]

Yes I am planning to pick it all up at once. That is not the problem but I think I will be sending it back through multiple branches of multiple banks just to be safe. I have heard the First National in my area has the coin counter in the lobby. I'm gonna check into that early next week. May be one way of taking a little heat off me. Every other branch of all banks used have the counter in the back(about 10 total).

 

[sack0silver]

Its really not that difficult of a concept. If you order from a branch, do NOT dump at that branch. Never had an issue using the same bank, just not the same branch. So pick up at branch A, dump branch B, C, D, etc. Have an account with a completely different bank? Even better, order from bank 1 branches A, B, C, D, etc and dump on bank 2. Then do that with a few more accounts and a few more branches and do 50 boxes a week. Then slap yourself, because you are now TimZim and should freaking know better!

 

[Zero]

I definitely pushed it by picking up(dimes) and dumping (halves), but since it was different denominations I wasn't worried about peeing in my pool. Obviously, it got me too much attention. Lesson learned. I used another dump bank today in order to take some heat off, and hopefully get back under the radar.

I have no plans on becoming TimZim (he is awesome) at this point, but I am hoping to add another $1000 or so once I get a stable dumping system going for my $2000 a week.