Here is what I found out about my bank and coin fees...

[cyberdan]

I had a business account at a local bank. About 1.5 years ago I brought in about 20 lbs of tumbled, metal detector found coins. The teller told me they now charge their customers 2% to bring in coins (loose or rolled) Non-customer's coins will not be accepted. I told them to pound sand and slowly changed my business account to another more customer friendly bank. Last December I went into this bank and officially closed the account with the asst manager. She never asked why I did this.

Two weeks ago I got a junk mail ad from them, pushing their "free business checking account" Part of their advertising said "We will accept for deposit up to $10000 per month at no additional charge**" So I looked for the fine print on the ad under **
It said "includes cash and coin". This interested me, they do not have the best business hours but they are very close to where I live so I went back to the bank to asked about a new account.

To make a long story short, they were not aware of this little part of their advertising when I pointed it out to them. I told them straight out that I deposit form $300 to $600 a week (or more) in coin and wanted to talk about reopening. They were very friendly but made sure to let me know all the rules.

*Coins must be rolled
*Loose coins will be accepted but must be sent for counting and a fee may be charged.
*All deposits over $10000 will have a fee.

I asked about this fee and in very fine print it spelled it out. $1.50 per extra $1000. She apologised about this and said that they had a contract with Brink's and the Brinks had to pick up anyway and the $1.50 will cover the cost.

(so for all of you that have your banks telling you about fees but won't come up with a price or are just trying to get you to go somewhere else at least I found one bank that has it in writing. $1.50 per $1000 when you go over $10,000.)

The bank is not a big chain but they are on both coasts, Banco Popular. I don't like the name, can't pronounce it like they do. But, I am now going to use them for the bulk of my coin return. What can I say, "I got it in writing"

P.S. I still remember the excuse they gave me why they were going to charge me 2% to bring in coin. "our coin counter keeps breaking down and this will help pay to keep it fixed"

I am going to keep that ad and stick it in thier face if they ever complain about too many half dollars

 

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[waseeker]

those bank policies are why I use a credit union for coin. A local one has a counter and use is free for memebers. So I just opened up a 500.00 savings account and take the coin there.

 

[bigtime400]

I went to diffrent branches of the same bank and its funny how some have these policys and others of the same bank dont. I kinda want to call out a big bullshit! (pardon my french) Some give me ikes some say they have to take them out of circulation. some take the coins and offer more.....and I just smile when I see the woman at the counter give me that I hate you for making me get off my butt smile. Little does she know that makes me enjoy taking them there.

 

[Jeffro]

Credit unions aren't subject to the same rules as banks and incur lower costs of operation because of this. They can still offer services at no charge that banks can't. I use a credit union, and they don't charge me for taking my coin back, nor do they charge me for ordering it. (I use two seperate CU's for this, to be courteous) I don't even have to roll, lol!

May be different in the future, but for now I use it to my advantage.

 

[goldinmypan]

I used to order coin from my CU but was getting a lot of skunks so I stopped. As far as I've been able to find out nobody in my area has coin counters so I'm forced to reroll my coin. Its not to hard with halves. I uncrimp one end and just put the coin back in. But if they ever get a counter around here, I would open an account with them.

 

[Arakronn]

I brought back a box of pennies....found out (in a pamphlet/brochure) they charge $0.20 for every $100 in change brought in for re-rolling. They actually have a company come in and roll all their coin for them. Hmmmm....a box of pennies=$25, so it'll cost me $0.05 to have a whole box re-rolled. It'll cost a nickel? I'm not complaining. Luckily, that's the only fee I'd be hit with. I do have an account there, too....not sure if that helps.

 

[Monty]

Here in my home state they have a law just passed a couple of years ago that makes credit unions equal to banks and are therefore bound by the same law as banks have to go by. I thought it was a federal thing but guess not from what I have read thus far on this thread. Anyway, my wife and I are members of two different credit unions. One requires us to roll bulk coins and to put our account number on the rolls we turn in. I guess that's because someone at some time has shorted them in rolls? The other credit union has a counter and they want the coins loose. Then you have to wait for the coins to be run through the counter before they will accept them. It seems like it takes ages but I'm sure it is actually just a few minutes. A couple of times their count was different than mine so they had to rerun the coins and believe it or not, my count was the correct one! I don't hunt rolls, but just thought you might be interested in how things are done in different parts of the country. Monty

 

[Monty]

Oh, I forgot to add: Some banks are not at all customer friendly and actually charge you extra for walking in and using the live teller! And heaven forbid if you ever asked for any kind of service and aren't an account holder in that particular bank. They just refuse to do anything for you without an account number. I found that out when I tried to get change for a hundred one day for the car wash next door. Needless to say that is why I have stuck with my credit union instead of going to one of the banks located close to home. Monty

 

[schramm]

Yeah,talk about not at all customer friendly,I called to order my boxes for the week tonight and the same woman I have been ordering from said she wouldn't order any more for me.After a short pause of me waiting for her to explain,I said what happened-what is wrong,she said didn't want to get into it,but if I wanted to talk to the bank manager she would get her for me,so I politely said yes,thank you,well I waited on hold for 17 mins before someone answered and it was the woman I order from and when she found out it was me STILL waiting she put me back on hold before I could even say that I would like her to call me when she get's a minute,so I wait on hold another 6 mins and she get's back on and say's the manager would be with me shortly,so in about 4 mins the manager get's on and ask's me what the problem is,I hold back my anger and politlely say I am not sure what the problem is,I have been ordering these boxes through your bank for a while now and never had a problem,alway's picked them up on time and paid cash,she didn't even have to do any paperwork for a withdrawal or anything at all-we just exchanged cash for coins.

The manager say's that because I am not a business customer that they wouldn't order for me anymore.I said,no one ever asked me if I was a business nor did they even asked if I was a regular customer,I simply called and said I need to order halves and told her the amount-when I came in I gave them exact cash for the order and that was it.So I didn't think there was any problem and still don't know why there is now.

Well to my explanation she said that they don't order coin for non-business customers and even when they order it for them thay have to charge a fee.

So I asked what the fee was,thinking I would just order more boxes per trip less frequently,and she said it was $5 per box,regardless of how many are ordered.

She continued to say that since I was a customer in good standing that she would wave the "rule" of only ordering for a business if I would pay the fee per box and also ONLY if I paid the back fees for all the boxes I had already purchased!

Now at this point I am furious but still manage to keep my cool and tell her I would get back with her but needed to get off the phone now as I had to leave.

Would you guy's pay this high (to me anyway's) fee or give up searching as the cost's outweigh the benifit's.(mind you I only get about 3-5 40%'s per box and maybe 1 90% every 5th box and a lot of boxes with no keepers at all)(I can only dream about the boxes you guy's report with 5 and 10% being silver and lot's of franklins and liberty's mixed in-it just doesn't happen for me-ever)

For some of you $5 per box would clearly be worth it when you are finding 50-100 silver's per box but for me it doesn't calculate right..

Please let us know your feelings,I am sure this topic would be helpful to most on the site because it seems banks are getting less customer friendly all the time.thanks...schramm...

 

[InTheWoods]

I would change banks Schramm. I certainly would not pay for any boxes. I been in many banks that were willing to order for me and I wasn't even a member. Send me a PM.

Mark

 

[silverfinder37]

Yeah,talk about not at all customer friendly,I called to order my boxes for the week tonight and the same woman I have been ordering from said she wouldn't order any more for me.After a short pause of me waiting for her to explain,I said what happened-what is wrong,she said didn't want to get into it,but if I wanted to talk to the bank manager she would get her for me,so I politely said yes,thank you,well I waited on hold for 17 mins before someone answered and it was the woman I order from and when she found out it was me STILL waiting she put me back on hold before I could even say that I would like her to call me when she get's a minute,so I wait on hold another 6 mins and she get's back on and say's the manager would be with me shortly,so in about 4 mins the manager get's on and ask's me what the problem is,I hold back my anger and politlely say I am not sure what the problem is,I have been ordering these boxes through your bank for a while now and never had a problem,alway's picked them up on time and paid cash,she didn't even have to do any paperwork for a withdrawal or anything at all-we just exchanged cash for coins.

The manager say's that because I am not a business customer that they wouldn't order for me anymore.I said,no one ever asked me if I was a business nor did they even asked if I was a regular customer,I simply called and said I need to order halves and told her the amount-when I came in I gave them exact cash for the order and that was it.So I didn't think there was any problem and still don't know why there is now.

Well to my explanation she said that they don't order coin for non-business customers and even when they order it for them thay have to charge a fee.

So I asked what the fee was,thinking I would just order more boxes per trip less frequently,and she said it was $5 per box,regardless of how many are ordered.

She continued to say that since I was a customer in good standing that she would wave the "rule" of only ordering for a business if I would pay the fee per box and also ONLY if I paid the back fees for all the boxes I had already purchased!

Now at this point I am furious but still manage to keep my cool and tell her I would get back with her but needed to get off the phone now as I had to leave.

Would you guy's pay this high (to me anyway's) fee or give up searching as the cost's outweigh the benifit's.(mind you I only get about 3-5 40%'s per box and maybe 1 90% every 5th box and a lot of boxes with no keepers at all)(I can only dream about the boxes you guy's report with 5 and 10% being silver and lot's of franklins and liberty's mixed in-it just doesn't happen for me-ever)

For some of you $5 per box would clearly be worth it when you are finding 50-100 silver's per box but for me it doesn't calculate right..

Please let us know your feelings,I am sure this topic would be helpful to most on the site because it seems banks are getting less customer friendly all the time.thanks...schramm...

I have ran into this and 5 bucks is what the armor service charges for delivery and pick up of the halves. I currently reciieve boxes from 2 different banks one manager asked me to open an account with them or he would be forced to charge me the fees which are waived for customers, so I opened an account with them for 25 bucks and all is well. The other bank hasn't even asked if I am member I think they will one day as I have ordered over 50 boxes from them so far. I understand both sides of it the customers side wanting to not be charged and the business side of the bank wanting to save 5 bucks a box in fees. Only thing my banks ask is that I don't return them to them
Best Regards, Ray

 

[Joliet Jake]

For some of you $5 per box would clearly be worth it when you are finding 50-100 silver's per box but for me it doesn't calculate right..

Please let us know your feelings,I am sure this topic would be helpful to most on the site because it seems banks are getting less customer friendly all the time.thanks...schramm...

I would just open a small account at another bank, AFTER explaining that you are a coin collector and want to collect half dollars by searching through the boxes you order. Be honest, and if they have a problem with ordering or returning them, go someplace else. The smaller banks are better it seems, with this kind of customer service. the fees are all "made up" by the banks, and even vary wildly from branch to branch in some cases (just read some of the horror stories in this forum). Be honest and up front, and after a while if you like the new bank, move your other money there at your convenience. Good luck, I am sure you will find some friendly tellers and managers somewhere, they can't all be jerks.

Best of luck.

 

[krumb]

those bank policies are why I use a credit union for coin. A local one has a counter and use is free for memebers. So I just opened up a 500.00 savings account and take the coin there.

Do you used Columbia River Credit Union?

 

[bigtime400]

Hey I am only one my 3rd week ordering halfs and I am running into problems. I was so excited to have coins to go through and one bank said they plainly forgot which is fine.... they appologized and promised to have them next week. The other said they didn't order them and said that if I wanted to order them they were going to charge me 60 cents per roll!!!!!!! I about flipped!!!!....... I had to get off the phone so I could regroup and not lose my cool. I just told the girl (and she has been very nice to me...it was her boss not her) I said I was going to have to contact their main branch and see what I could do about this. Anyway.... what do you all think?

 

[Jeffro]

Stick with the ones that don't charge. You may even consider moving your accounts there. I would let the one that wants to charge you know this information. Maybe they'll change their view.

 

[bigtime400]

I think I have been cursed ever since I have read this post! I have been skunked by 3 banks in the past week! One never ordered my halfs for me, one told me they were going to charge me $.60 a roll after they said they would order them for me, and one got me 4 boxes but told me they were going to charge mea $4 ordering fee and $.10 a roll the next time!!! I was kinda pissed to say the least..... So I talked to the bank manager where i did get some halfs and told him how I was clear with the lady that this is what I was going to do when I opened the account! (not to mention I have my mortgage there) The manager explained to me they DID have fees for rolls. And he explained to me how they get charged to bring coin in and they get charged to take it away. I said "ok fine.... do you charge when people bring in change?"; He said "no". Then I said "I gotta tell ya that the banks that don't give me the halfs are the ones that I cash them in at" So with that he agreed to order me $2000 4 boxes in halfs for next week and he would only charge me the 4 dollar ordering fee. And I would take my halfs elsewere to cash them in. I wasn't really happy with it but I thought it was reasonable. And I think you all agree the last part shouldn't be a problem.... I got roughly $2000 in halfs that are going to a bank that wanted to charge me $.60 a roll...... bastards....

 

[Joliet Jake]

I hate bank fees. If the fees were "real", they would be standard across all banks, but as you see, every bank has it's own table of fees. These are costs of doing business they are passing on to us, and they surely have the right to charge whatever the market will bear, but come on.

Will they start charging us a "warming fee" since when we opened the door it cost them 30 cents in heating costs? "We gotta pay the gas bill you know." And don't forget the 5 cent charge for the printed receipt we get for our deposits, after all, ink and paper ain't free!

What drives me mad, is some banks give away appliances, ipods, money to entice people to use their bank. Some don't care if you keep the pen you use, and others chain their precious pens to the counter. Some offer sub-standard intrest on your deposits, and charge usury rates on their loans and credit cards. It is really the wild west of banking right now.

I guess I would advise that there are "Interest banks", and there are "Fee based banks". For CRH, you may want to use an "Interest bank" that makes it's money from intrest on loans and deposits. For your money and loans, a "Fee based bank" may be a better deal, since if they make money from fees, their interest rates are often better, (if you don't incur late charges, etc).

Good luck, and watch out for banks that charge a "Re-Rolling fee" when you turn your coins in, lol.