Bank Accounts

[Ben-Ro]

What do you guys do for bank accounts at dump banks? In my area, no one will let me bring in a box of halves to cash in unless I have an account with that bank. I started looking into opening accounts at some of these banks and they all charge service fees on their accounts unless I have a minimum balance in that account. It hardly seems worth it if I have to tie up thousands of dollars in order to keep bank accounts open for dumping. What's your strategy? Is there any way around the min. balance/no fee scenario?

 

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[The_EE]

Some banks offer free savings accounts. Most banks charge a fee for checking. Just take a look at their websites and compare. I have 2 accounts that I use for dumping. One is a CU and the other is a bank that uses coin counters and has free savings.

I'm also in a similar situation. There is one bank near me that has the nicest staff ever. They know I don't have an account but always try to help. I feel guilty walking in there because they always try to have me open an account. The manager even told me she would order however many boxes of coins I needed but I would have to be a bank member. Problem is their checking and savings accounts have fees unless I use direct deposit which I don't want to do. It figures that one of the nicest and willingest banks near me would have fees.

One bank I use required a $25 start up and a $3 a month fee unless you have direct deposit or use the ATM 10 times in a month. I dont mind paying the $3 a month, the staff is awesome, one teller, Savannah and I , we talk coins as she collects and so does her father. They are a dump bank but we share the finds we have each week and she saves me old bills that come through. Nothing special has made its way through to me yet but I take all the old bills she finds. She even saves me foreign coins instead of throwing them away like they used to do.

Sometimes that small monthly fee can be worth it. With the limited number of banks in my area, I cant be a beggar.

 

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[usernameerror]

Sometimes that small monthly fee can be worth it.

I agree. I decided that a $5 monthly fee is worth having a super nice bank staff order whatever you want.

 

[Solid Rolls]

Maybe I just live in a weird area, but I have 10 different banks (both large and small) I feasibly could dump at, and the minimum balance needed for them ranges from $15 - $100. Living in a well populated area like you do, it shouldn't be that hard to find at least 5 that will take your business for no fee checking.

 

[crhstreetwalker]

Maybe I just live in a weird area, but I have 10 different banks (both large and small) I feasibly could dump at, and the minimum balance needed for them ranges from $15 - $100. Living in a well populated area like you do, it shouldn't be that hard to find at least 5 that will take your business for no fee checking.

Where do you live?

 

[quiksilver]

There is no need to pay fees at any bank. I have well over 20 accounts and pay no fees . I have yet to see a bank that has fees if you keep a minumum amount of money and use it once every 6 months to 2 years or switch to electronic statements. The dumping and ordering of coin makes doing this well worth it. If needed sell all your halves to pay for your bank accounts . Many of my accounts have paid for themselves.