Fees for depositing rolled coin?

[bertmaster2000]

The credit union where I was depositing my re-rolled coins just told me I'd be charged $0.10/roll for my next coin deposit due to armored car company transportation fees when the coins are picked up to be taken back to the coin vault. I have not checked the credit union's written fee schedule yet to confirm they can really charge this fee, but I won't bother to fight it anyway because I have a good relationship with them and they are a small business.

I recently began searching rolls of nickels to fill my kids' Jefferson nickel collection booklets. Even if I was searching halves and finding something of value this fee would turn me away, so nickels are definitely not worth the cost.

Anyone else run into a fee for depositing rolled coin? If so, how much was it?

 

Amazon Forum Fav 👍

Treasure of Victoria Peak - Grab it through Amazon!

[BuffaloBoy]

That stinks, I don't belong to any credit unions, but from what I gather they are usually nicer when it comes to accommodating their members.

 

[CW3(ret) US Army]

The credit union where I was depositing my re-rolled coins just told me I'd be charged $0.10/roll for my next coin deposit due to armored car company transportation fees when the coins are picked up to be taken back to the coin vault. I have not checked the credit union's written fee schedule yet to confirm they can really charge this fee, but I won't bother to fight it anyway because I have a good relationship with them and they are a small business. I recently began searching rolls of nickels to fill my kids' Jefferson nickel collection booklets. Even if I was searching halves and finding something of value this fee would turn me away, so nickels are definitely not worth the cost. Anyone else run into a fee for depositing rolled coin? If so, how much was it?

Who told you that you would have to pay a fee? Ask them to show you where it is in their fee schedule. You are a member of the credit union not just a account holder. Do you get your coins from them? Were you bringing them a lot of rolled coins? Do they have a coin counting machine there for the members to use? Most credit unions around here have coin counting machines for the members to use. If they have a machine, use it instead of bringing back the rolled coins. If you are getting the coins from them, you should look for a different place to dump them. The old saying of "you don't s*** where you sleep" applies. From your post, I'm not sure if you will continue to bring the rolled coins back to them & pay the fee. Are there any banks in the area you could bring the coins to if the credit union doesn't have a coin counting machine & wants to charge you a fee. From what I've seen on TNET over the years I've been a member is that most people won't pay a fee to either get the boxes to look thru or give the coins back. I know I won't pay a fee to either get or dump coins. I also don't dump where I get my boxes from either.

HH
Gary

 

[Omega]

Look at my post about this hahahahaha, do exactly what I did,

 

[Rascal]

Mutual of Omaha Bank has a fee of $1.50 per box of rolled coin. I lost one of my casino cash cages because of one stinker who makes his own rules. No longer worth the time and effort dragging in a bag to see if he's working that day or not. Others were/are getting a wee hinkier, and I have to drive a bunch of extra miles to reach them and then go down the line, nevermind a tip of $1 for approx every $350-500 worth of change. Seriously considering changing over to MofO and paying the fee just to save time, gas, tips, etc. Not to mention they rate a lot stronger/more stable than a lot of much larger banks.

Rascal

 

[ArkieBassMan]

Mutual of Omaha Bank has a fee of $1.50 per box of rolled coin. I lost one of my casino cash cages because of one stinker who makes his own rules. No longer worth the time and effort dragging in a bag to see if he's working that day or not. Others were/are getting a wee hinkier, and I have to drive a bunch of extra miles to reach them and then go down the line, nevermind a tip of $1 for approx every $350-500 worth of change. Seriously considering changing over to MofO and paying the fee just to save time, gas, tips, etc. Not to mention they rate a lot stronger/more stable than a lot of much larger banks. Rascal

A fee that saves you money isn't much of a fee.

 

[Produce Guy]

I take my loose coins into my credit union and they count them for free as long as I deposit them into my account.

 

[bertmaster2000]

That stinks, I don't belong to any credit unions, but from what I gather they are usually nicer when it comes to accommodating their members.

This cu has been accomodating, which is why I won't push the issue. They were genuinely apologetic about the fee.

 

[bertmaster2000]

Who told you that you would have to pay a fee? Ask them to show you where it is in their fee schedule. You are a member of the credit union not just a account holder. Do you get your coins from them? Were you bringing them a lot of rolled coins? Do they have a coin counting machine there for the members to use? Most credit unions around here have coin counting machines for the members to use. If they have a machine, use it instead of bringing back the rolled coins. If you are getting the coins from them, you should look for a different place to dump them. The old saying of "you don't s*** where you sleep" applies. From your post, I'm not sure if you will continue to bring the rolled coins back to them & pay the fee. Are there any banks in the area you could bring the coins to if the credit union doesn't have a coin counting machine & wants to charge you a fee. From what I've seen on TNET over the years I've been a member is that most people won't pay a fee to either get the boxes to look thru or give the coins back. I know I won't pay a fee to either get or dump coins. I also don't dump where I get my boxes from either.

HH
Gary

To answer your questions:

The vault teller at the cu told me about the fee. The fee is neither in the cu fee schedule nor the bank fee schedule with whom the cu deposits currency and coin.

I was bringing the cu $1,000 in coin each week. I never pick up coin from this cu.

My town is too small for any cu or bank to have coin counters.

I will not pay the coin deposit fee. I can avoid the fee by spreading my coin deposits across several branches of the two main banks in town, but to me, this is not worth the effort for the $1,000 volume I was looking through each week.

Thanks for your input.

 

[bertmaster2000]

Look at my post about this hahahahaha, do exactly what I did,

I read your post from awhile back. You are far more bold than I am.

 

[bertmaster2000]

Mutual of Omaha Bank has a fee of $1.50 per box of rolled coin. I lost one of my casino cash cages because of one stinker who makes his own rules. No longer worth the time and effort dragging in a bag to see if he's working that day or not. Others were/are getting a wee hinkier, and I have to drive a bunch of extra miles to reach them and then go down the line, nevermind a tip of $1 for approx every $350-500 worth of change. Seriously considering changing over to MofO and paying the fee just to save time, gas, tips, etc. Not to mention they rate a lot stronger/more stable than a lot of much larger banks.

Rascal

In your case, it sounds like paying the fee would be worth it. I assume you are looking through half dollars for silver, so you can also weigh how much you are finding against whether or not the fee is fair to you.

 

[Rascal]

Yes, halves are what I am speaking of. I also have done everything else, mostly dimes, nickels and cents, and those would be worth taking to a casino. Face it, if I end up with a grand or so of small change sitting around waiting for a cash-in trip it won't kill me, but the halves can add up fast. Not to mention it's easier to roll my little cart with 100 lbs of halves 40 feet into the bank and up to the counter, vs. carrying loose halves worth $350-$1,100 at a time through a large parking lot, then casino hallways crowded with people trying not to spill their beers.

Rascal