Dump Bank changed the rules

[weighit]

Have had a dump bank for a couple of years that gives me the bags for my coins. They used to give me $500 bags but last year wanted me to use the $1,000 bags. So once a week to fit their pick up schedule I would bring in a bag or two the day before they were to be shipped out to alleviate any storage of coin issues they may have. I always tried to make it as easy as possible for them. Today as i carry in the 2 $1,000 bags and plop them on the counter the vault teller comes up and said we have a problem. I said what would that be? She said she got a 'nasty gram' from the powers that be and all the bags that they are turning in are unverified and from right now on they must be deposited as unconfirmed and they would then count and tell me what I shipped in. My money will be held from 7 to 10 days from the time they receive it. It is only shipped out once per week so that is going to tie up 2 grand of my working coin money. So I was force to open an account in my name and now wait for the official count. I have been using the account that I was a signer on for my elderly mother up till today. Took almost 1 hour to open an account and not sign up for all the stuff they wanted to include for only a small fee. No Thank You, don't need or want any of that other stuff. I may have to drive about 35 miles one way to maybe dump at another branch and see if I can continue this process. The only coin machine other than the CoinStar in this town charges 3% and I would hate to have to pay $30 bucks per thousand dump costs.

 

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[Local_coins]

Coin wrappers are still free!

 

[Iamrussell]

That sucks man- sorry to hear
There are others in the same boat that have to wait to have it verified- maybe after a while theyll credit it immediately and then alter the acnt accordingly

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just keep stacking, just keep stacking, stacking stacking stacking

 

[BuffaloBoy]

that's tough. I don't know any banks in my area that accept bags though, let alone give credit on the spot for them! The only way for me to get immediate credit is to run my coins through a coin counting machine. Which can be a burden sometimes as the machine requires teller assistance for bag changes.

 

[ArkieBassMan]

Worst case, be glad you were able to dump bags for cash-on-the-spot for as long as you did. I've asked, begged, and pleaded to do so to no avail.

 

[weighit]

I asked if I could just return to the way I used to dump with the coins rolled in boxes and she said it would still have to be returned as unverified and they would send out the boxes and they too would be credited to my account in 7 to 10 days. I'm getting another 2 or 4 boxes tomorrow and will drive the distance to the next closest same bank and try the return there and see if I can get immediate cash exchange and not have the long wait.

 

[nube250]

Coin wrappers are still free!

Nnnoooo!! Please don't rewrap..

 

[BuffaloBoy]

There's nothing wrong with rewrapping. So we like getting back somebody's dumps? of course not, but how do you know that the ultra common skunk box of halves isn't somebody's dumps? people have gotten solid blocks of my dumps before, it happens. I don't rewrap though.

Nnnoooo!! Please don't rewrap..

 

[weighit]

Nnnoooo!! Please don't rewrap..

They took all my boxes with the rewrapped coins and unwrapped them and tossed them into the bag. They were the ones that asked me to save them time and just put the coins into the bag so they would not have to unwrap them. The other banks I give the coins to do the exact same thing, they unwrap them and toss them into a bag. I have asked if I could just bring them in a bag and they all have said no (except this one branch) so I try to make them happy and do as they want or need. None of the branches are returning coins in boxes, they all ship in those $1,000 clear bags. Then they get the boxes back from the transport companies that I buy.

 

[Local_coins]

There's nothing wrong with rewrapping. So we like getting back somebody's dumps? of course not, but how do you know that the ultra common skunk box of halves isn't somebody's dumps? people have gotten solid blocks of my dumps before, it happens. I don't rewrap though.

I get fresh wrappers from banks, I'm not stuffing them back into MWR.

Sent from my iPhone using TreasureNet

 

[Local_coins]

They took all my boxes with the rewrapped coins and unwrapped them and tossed them into the bag. They were the ones that asked me to save them time and just put the coins into the bag so they would not have to unwrap them. The other banks I give the coins to do the exact same thing, they unwrap them and toss them into a bag. I have asked if I could just bring them in a bag and they all have said no (except this one branch) so I try to make them happy and do as they want or need. None of the branches are returning coins in boxes, they all ship in those $1,000 clear bags. Then they get the boxes back from the transport companies that I buy.

If you bring the coins in rolls though the bank will give you immediate credit because they are not being sent out for counting. If they have to open them and dump them Into a bag oh well. They are making you wait a week to get your money and they only have to take 10 minutes to open some rolls into a bag. Sent from my iPhone using TreasureNet

 

[GarouLady]

Ugh I can't imagine rewrapping a thousand dollars of coinage. Holding 2 grand of money for almost 2 weeks. Sounds about right for banks. Banks can legally hold your checks and not send them though for almost 2 weeks. Major sucky. That's why I have found 1 bank in my city that doesn't charge for coin dumps of any size and I use it very gingerly so not to burn it out. Good luck with your coin hunt and don't forget....Have Fun!!

Sincerely, GarouLady