Dumping coins question

adambomb106 · Aug 7, 2009

I have opened accounts at 3 small banks. They haven't seemed to be the friendliest in giving out change, but they do it. I know not to dump at these banks. My question is does a big bank seem to be more accepting of dumps than a small one? Should I go find a megabank and open an account just to dump?

coolpix9 · Aug 7, 2009

You have a huge bunch of banks in and around Dothan. Let your fingers do the walking and start calling banks in Dothan until you find one with a coin cointer you can dump at. You also want to make sure there is no fee for your dumping. You are lucky to live so close to that many banks to choose from. Good luck and don't forget to reward the ladies at the dump bank. Cheers, Jim

adambomb106 · Aug 7, 2009

I've been to almost all of the banks around here and I haven't seen a machine yet. I will call around and hopefully find one. The only one I know of is at the supermarket and they charge 10%. But thanks for the advice.

Darth Walker · Aug 7, 2009

Look for banks that have coin machines and do not charge you if you have an account there.

Also do not take too many

DW

coinmojo · Aug 8, 2009

Definitely find a bank that has a coin counting machine like the others said.

I could not do this if it weren't for the machine. I split my dumps and try not to dump more than 2k per bank per week.

Others here have a sweet deal where their banks give them a bag and they simply drop off the loose coin in the bag. This requires a relationship or some time and effort to get to that level of service. Those bags have certain dollar amounts that have to be packed. Halves are usually $1000 Dimes $1000 Quarters $1000 Nickles $200 Pennies $50. If you can get a bank to do that for you, than you have surpassed most of us. Sometimes though you might have to tie up your money this way. They might require you to deposit that bag and wait until it is verified. Usually 3 to 7 days. and that would suck. The better deal is to have them pay you off and credit or debit your account after the contents of your bag deposit is verified. (counted)

Mojo

HolyDiver · Aug 8, 2009

I use 3 different locations of the same bank to dump so I don't annoy the tellers. It's been working out for me nicely so far.

GMan00001 · Aug 8, 2009

So far this year I have used 39 different dump banks/branches...26 of them I would consider regular/semi-regular dump banks. I try not to go to the same bank/branch more than approximately once a month.

Anytime I have an extraordinarily large amount of rejects to dump I try to use a bank/branch I rarely go to. Such as earlier this year when I had around $600 in pennies to dump at one time. Otherwise I usually try to limit it to what I can carry in to the bank in one trip (usually two canvas bags full).

Examples of a full bag for me...
A combination of any 2 of the following amounts
$50 in pennies
$100 or sometimes $200 in nickels
$500 in dimes
$500 in quarters
$500 in halves

So a full bag =
$100 in pennies
$200 in nickels + $50 in pennies
$1000 in dimes
$500 in dimes + $50 in pennies
etc...

how u do n · Aug 8, 2009

One thing to remember is that a "lot" of banks who do not like to get coins dumped on them have very small sections of their vault that is for coins.
I have had several banks I know tell me they do not like coins because they have no place to hold lots of coin.
So, they only carry what they think they will need.
Like others say all the time and, I agree with is be super nice to the ladies at the bank.
I am very lucky I have a bank that has a coin counter and takes all my dumps every Wednesday 8 boxes.
If, you can not find one I would look for a branch that has a section in the vault that can handle large numbers of coin.

Gl HH
Dan

fistfulladirt · Aug 8, 2009

Unless you enjoy re-rolling, find a bank with a counter. I haven't had much luck there, fortunately my CU has a public coin king, free if you have a minimum balance ($5K), or, I have a deal were I can walk into the closet and see into the tiny vault, and dump $500 bags. ffd

treasurefiend · Aug 8, 2009

If you can go to a big bank like BOA or Chase or another big one, they all have coin counters the ones around me anyways (either behind the counter or out in the lobby) but they all charge a % if your not a member. Ask first and make sure that its free service before you open an account with them, if not just go to the next bank and ask.