wharghoul
Full Member
- May 6, 2009
- 106
- 1
- Detector(s) used
- F75 LTD
A few months ago my main bank hit me with a $5 fee/box of coins (any denomination).....So I moved all my box orders to the other main branch in town. This bank notified me today that they would be charging $.08/roll (any denomination) for boxes and an additional $5 fee/visit. Do the math and that's $9/box of halves. Obviously, if I up my orders to say 3 or 4 boxes per visit then my fee goes down a little per box....but it still chaps my butt. 
I'm going to visit a few other banks tomorrow that I have accounts with and inquire about ordering boxes with them. I already have a pretty good relationship with them, hopefully our history will help me out a little. They've all known me and have been selling me coins since silver was $8/oz. Unfortunately, the goodwill that I've built up may be for naught. Regardless of which bank I go to around here, they are all serviced by Loomis. According to the bank that I visited today it was Loomis that has increased its fees and the bank is just passing the fee on to the customers. I know it's a half-truth, there is no way Loomis is charging anywhere near what the bank is charging. I've heard in the past that the bank gets charged a flat rate per visit and additional $.16 for each box over the standard limit.
I've had the easy life for too long I guess, a few small towns with only 1 or 2 CRHs, now the demand is exploding. I'll still chase the customer rolls, but they've been getting scarce too. I'm very pessimistic about the prospects though. I suspect that the fee structure will be adopted by most major banks and it will become a standard practice in the not too distant future. At least I'll have some stories for my grand kids......For all you guys and gals, give em hell, get em while you can.
I'm going to visit a few other banks tomorrow that I have accounts with and inquire about ordering boxes with them. I already have a pretty good relationship with them, hopefully our history will help me out a little. They've all known me and have been selling me coins since silver was $8/oz. Unfortunately, the goodwill that I've built up may be for naught. Regardless of which bank I go to around here, they are all serviced by Loomis. According to the bank that I visited today it was Loomis that has increased its fees and the bank is just passing the fee on to the customers. I know it's a half-truth, there is no way Loomis is charging anywhere near what the bank is charging. I've heard in the past that the bank gets charged a flat rate per visit and additional $.16 for each box over the standard limit.
I've had the easy life for too long I guess, a few small towns with only 1 or 2 CRHs, now the demand is exploding. I'll still chase the customer rolls, but they've been getting scarce too. I'm very pessimistic about the prospects though. I suspect that the fee structure will be adopted by most major banks and it will become a standard practice in the not too distant future. At least I'll have some stories for my grand kids......For all you guys and gals, give em hell, get em while you can.
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