Bank Conundrum

[srcdco]

As some of you may know, HSBC has decided to get out of the consumer banking business in Western / Central NY (and some other areas). I have banked with them since 1981 (Marine Midland in those days), moving my accounts there because they would trade coin for me and Key Bank stopped doing it. I know I've had it good, being able to exchange coin weekly without having to dump and buy and without paying any fees. I've been doing this at one branch for 24 years now. I have another branch that will also trade with me, when I have the opportunity to get there.

The branches were supposed to all be sold to First Niagara. I figured I could just continue my banking and coin trading with them.

On Friday, I found out that the branch I've been trading at for 24 years is going to be sold to Key Bank (yuck). On Saturday, I found out that the other branch that will exchange is being sold to Community Bank.

My conundrum is: Should I see about opening an account at Key Bank to try to keep that branch for trading? Does anyone know how Key Bank is about CRHing? I expect that the tellers will remain, so I will still have an in with them.

Otherwise, I will probably not be able to trade on any regular basis. After 24 years (more going back to my original Marine Midland branch in Jamestown), I will go crazy without my weekly boxes to search!

Help!

Scott

 

[palidin20603]

Is PNC in your area? I have been doing well dumping there.

 

[jrf30]

If you'vr brrn banking with them since 1981, you won't have to open an account with Key, will you? Won't they take over that accoutn? Or are they just buying that one branch and not getting the accounts?

the best thing is that the PEOPLE will be (Mostly) the same that you;ve worked with, and hopefully they will allow you to continue, juswt because they have been doing it for a while now. Good luck to you. Let us know how it goes.

 

[Bigheed]

Ya I would have to agree that if they are selling off the personnel accounts side, the account will probably be converted, just ask a banker or the branch manager at that location.

Whatever it becomes, the relationships are what will continue to be your best ally at the branches.

Hope it works out in your favor and keep us posted!

Bigheed

 

[srcdco]

Thank you for your well wishes. Basically, the people have told me that they will continue to exchange, as long as the new owner allows it. I just don't know what Key Bank's stance on exchanging (or selling) coins is. Exchanging was very common in 1950's - 1970's, then many banks stopped it. I may have to open a small account to continue. Actually, they've been surprised that HSBC has allowed it as they've had to tell the auditors about it.

Scott

 

[Th3Offspring]

Scott, i may be from the same area as you as the hsbc i am thinking about is being turned into a community bank as well.

 

[quiksilver]

I find joining more banks leads to more coins. You also might get lucky and many of the same people will work at your bank after it changes over and maybe you can continue what youve been doing.