Does Your Dump Bank Require Deposit Before Giving Cash?

[cocrh]

My dump bank just implemented a policy that anything over more than $100 amount in coin needs to be first deposited and then you get the cash back. Does your dump bank do this? I used to just give them a few boxes with coins in their rolls and get 1K in cash since they have no coin counter. Large cash deposits are often flagged aren't they? Should I be worried?

 

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[Codes]

Don't worry. My bank does this to me all the time. They're just trying to keep track of the cash and where it goes, not who brings it in.

 

[TT]

Have to be careful on what ttype of account you have. A savings account will put you into the fee land if you do it often enough. Some banks have only four withdrawals a month or less. Watch out if you are in this situation.

 

[cocrh]

It's my main bank and no fee checking account.

Have to be careful on what ttype of account you have. A savings account will put you into the fee land if you do it often enough. Some banks have only four withdrawals a month or less. Watch out if you are in this situation.

 

[TT]

Then you should be golden.

 

[AFModell]

Bank of America is going away from having coin counters in their individual branches. Instead, they give you a heavy duty plastic bag and you fill it. They give you the top of the bag with the number on it and they send the bag into whoever their carrier/coin counter company is and they do the counting. Takes about a week and then its deposited into you r account. So BoA forces you into it. A few large BoAs still have counters on site.

 

[waseeker]

For my bank it is just an accounting process so that the teller has a record of every transaction that goes through their drawer. Once when I asked for change for a 20.00 bill she deposited the money and gave me the change. The receipt actually showed 1 20.00 deposited and a 10 and 10 ones returned.

 

[engine 823]

Sounds like more work for them but I don't see were it will affect you with a no fees checking account. A little hassle maybe.

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