Help! Dump banks charging fees

[yf30]

Hi all,

I know this was discussed before but does anyone have good ideas to dump without fees? Until now I was dumping an occasional box or 2 so the banks didn't make a big deal but now I want to do like 10 boxes per week. The banks I spoke to said it would be 15 or 20 cents per roll. I live in a major Metro area and the banks aren't too impressed by my business account.

Omega! How do you do it?

 

[smokeythecat]

Banks are getting nasty. One here won't take rolled coin at all. Most charge. For halves it's costing me $20 per $1000 to dump. I have spent a lot of the halves and "sold" some to the local metal detector dealer for a new machine. They do spend well. I guess I've "spent" at least half of what I've had. 10 boxes a week is hard to spend though.

 

[Iamrussell]

DONT pay fees- oh man 50cent is gonna go off- find banks or CUs than will allow you as a customer to dump for free- honestly if you have to pay to dump its not worth the hobby- youll be spending way too much $$$ just go buy the dang ag
They are out there just do the foot work or call or look on their websites-

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just keep stacking, just keep stacking, stacking stacking stacking

 

[Omega]

Well I appreciate the shout out lol, I guess the first question to ask is: did the bank you used to use have a machine, or did you have to re-roll? Anyone trying to do volume (without living in a hole) is going to HAVE to have bag dumps at their disposal. (Now I know someones gonna prove me wrong.... who's it gonna be?). Best thing to do it build up the relationships at banks. Relationships and Volume are the 2 keys in this hobby/job. How many banks are ordering for you? 10 boxes= 1 or 2 banks? If you have more than that ordering for you, you may want to consider consolidating and turning some of those pick ups into dumps- respectfully of course.

 

[Iamrussell]

Anyone trying to do volume (without living in a hole) is going to HAVE to have bag dumps at their disposal.

This is one factor of me not doing more than my 10boxes a week- if I could find a bank to take bags id up my boxes to probably 20 but havent had luck yet(but im gonna keep asking as well for some banks to sell me bags) so ill stick with my 10 boxes dumping at 3-4 different banks

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just keep stacking, just keep stacking, stacking stacking stacking

 

[crhgymnast1]

This is one factor of me not doing more than my 10boxes a week- if I could find a bank to take bags id up my boxes to probably 20 but havent had luck yet(but im gonna keep asking as well for some banks to sell me bags) so ill stick with my 10 boxes dumping at 3-4 different banks ------------------------------------- just keep stacking, just keep stacking, stacking stacking stacking

do u dump in bags?

 

[Iamrussell]

do u dump in bags?

If you mean do I take my dumps already sealed in a deposit bag then NO thats what I was saying I cant find a bank around me that will take them- if you mean do the machinesni dump intonhave bags then yes they do have bags in them and asnsoon as they are full the teller closes them up still in the machine before they get the bag full out of the machine

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just keep stacking, just keep stacking, stacking stacking stacking

 

[Diggin-N-Dumps]

alot of it is the teller themselves....i had this crotchy old lady tell me i couldnt deposit my rolled changed and it needed to be sent off and counted. which is totally fine, expect i only had like 15 dollars in pennies. I ended up telling ANOTHER teller this at a different branch, she told me it was no problem, and that the lady must have had a bad day..lol

But even with that said...All my banks will at least let you put it in a bag and they will send it somewhere to deposit in my account in a few days.

I would NEVER pay fees to dropping money off..that is bullshiiii

 

[Jav]

You have a few options which include, find a new bank to dump at, find banks with free coin counters, or spread a dump out over a few banks. Also instead of dumping $1000 in halves, dump $500 or even less at a time. I tend to hit around 4 dump banks on my dump day, just to spread out the coin and not burn any bridges. Each dump will consists of anywhere from $250 to $500. I try not to dump $1000 at a time. I am a low value guy though. A few boxes of dimes per week and around 2-4 boxes of halves per week.

 

[yf30]

So I've spent the lat 2 days trudging from bank to bank trying to dump for free. So far only one agreed. The rest either refused to take coins, or quoted 15-50 cents per roll. Some of the more outlandish things I heard were one bank charging $150 per month to dump 4 boxes a week. And the Most Ridiculous Award goes to HSBC which said they'll be happy to take my coins for no fee as long as I maintain a daily balance of $100,000! Maybe I shld open an acct there with 200 boxes of halves.

A few banks took my number, saying they need to check with the manager. Some are concerned about money laundering. Even for a fee, no one is willing to exchange more than $1000, it'll have to be deposit and withdrawal.

 

[Showtime2385]

My local bank has a coin star like machine that you just swipe your card and select what account you would like the money to go into and it all immediately does so and prints you a receipt. they don't take any percentage and its deposited that moment.