How many of you out there use CoinLOK bags?

[Big Fat Cheeseball]

Just wanting to see how many out there use these bags. I use them every week. One of my dump banks lets me use them and saves time a effort for both me and the bank.

HH

Big Fat

 

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[agme]

I would really like to. What is the best way to approch a bank about accepting bags, I've hinted about it at some local banks but the didn't seem interested.
Do you have a buisness account at that bank Big Fat?

 

[maverick]

I use them, you have to have enough bank roll ( not that I do) to wait the 2 day period for your account to be credited. I use the bags and reroll when needed to keep up. Some have been able to exchange there bags for cash on the spot or instant credit to their account, I have asked everywhere and the same answer, no, we have to send it out to be verified. The only thing I don't like about the bags is the paper trail it leaves. HH, Maverick.

 

[fistfulladirt]

I use 'em. Pick up $500-$1,000, usually dimes, rolled, and return loose in bags. Get cash immediately, no paper trail. This is a hot set up, and works at one place (for dumps).

 

[maverick]

I use 'em. Pick up $500-$1,000, usually dimes, rolled, and return loose in bags. Get cash immediately, no paper trail. This is a hot set up, and works at one place (for dumps).

I don't know you guys do it for cash, I can't seem to get any bank to. True, cash exchange with bags leaves no paper trail, I forgot to mention that. thanks Fist. HH, Maverick.

 

[CC-Hunter]

Big Fat: I don't use them. Do you use them at banks that already have coin machines (to avoid dumping big volume into their machines)?

 

[Big Fat Cheeseball]

95% of my dumps go into coinlok bags. I have been with this bank many many moons! Agme, I do not have a buisness account with them. It was not the easiest thing to do but they pay me on the spot for the amount in the bags. It's all about a long lasting relationship and a lot of trust on both sides. But it is working out very well for me. Some crh'ers don't think they need to be nice or to try to build a relationship with the bank. Thanks okay....I see things a little different. Hey Mav, no paper trail just cash. CC, Only one of my dump banks has a coin counter and I only had to use it occasionally.

HH

Big fat

 

[kennedyfan]

Yeah, I use 'em. I bring in half a dozen bags, each with about 700 bucks worth of halves and dimes (and maybe a bit of pocket change), every few months. (I'm not high-volume like some folks here). It's a branch of a bank where I have an account where I know somebody else hunts, so it seems like the best place for me to dump.

It does take a a couple of weeks for my account to be credited, so if my balance is low I have to take a break for a while...

 

[FormerTeller]

It does take a a couple of weeks for my account to be credited, so if my balance is low I have to take a break for a while...

A couple of WEEKS?

 

[Novapax]

I use 'em. Pick up $500-$1,000, usually dimes, rolled, and return loose in bags. Get cash immediately, no paper trail. This is a hot set up, and works at one place (for dumps).

What bank does that fistfulladirt? Your in MI right? Ive been looking for a bank near me that will do it, but the answer I get is that I will have to wait for them to be picked up.

Thanks

 

[FloridaFinder]

I just opened an account today at a small regional bank today that had double the interest rate of my CU but like them they said that they couldn't order halves.

They said I could deposit them and when I returned with a fat cashier's check the Sr. teller said I didn't even have to reroll them. I asked about CoinLOK bags and she didn't know what I was talking about, but said I could deposit by rolled coin in box or loose coin in bags. She laughed an said that I could even bring them in a jar, since they could just run them through their coin counter.

I'd have to cultivate that relationship with the bank to bring in sealed bags for the speed and ease of it.

 

[fistfulladirt]

What bank does that fistfulladirt? Your in MI right? Ive been looking for a bank near me that will do it, but the answer I get is that I will have to wait for them to be picked up.

Thanks

Hi Nova, it's a regional credit union that provides that service for me.

 

[RocknRoll]

Hi everyone.....been viewing the forum for a while now.....guess it's time to post. I have been CRH for a while....mostly cents, nickels and dimes. It is hard to find halves but I have ordered a few boxes and will be doing more. I really only have 1 bank to take coins back to. They have a machine and I do feel "awkward" even dumping $200 - $500 / week. I also use the Coinstar and use the fee free cards for groceries and other stores. If I start doing more halves, I will have no choice but to take larger amounts of coin back to the bank (and obviously the "oddball" Half Dollar coin).

So, I have good relationships with the pickup banks (even though I think they might feel I am crazy for picking up so many coins....I have gotten the questions). My drop-off bank I have kept a good balance (have not made any withdrawals)and also have a decent relationship. My question....what is another good drop off bank? BAC? Has anyone else felt awkward opening an account with minimum balance and instantly bringing in large dumps? Is it better if you deposit most funds and don't withdrawl?

As for the Coinlok bags....will BAC let a newb start dumping large amounts in bags?

Thanks and this is a very informative (and lively) forum....I have enjoyed the posts and the helpful members.

 

[twiasp]

Out of 8k in halves a week i dump 2k at 4 different Chase locations in coinlok bags, some Chase banks insist on having the coin rolled so i go to the ones that don't =) I also have 5 branches of BoA close that i can dump in coinlok bags but since i pick up from Brinks (BoA) i like to dump with Loomis (Chase uses). I also have 3 other banks that have coin counters that will run half dollars and they will gladly do so, but i don't take them coins unless one of my coinlok banks has a full vault that week or some other random excuse. BoA takes 10 days now minimum to count they say, but it ranges from 2-14, Chase usually has it deposited within 3 business days.

I have been to tons of banks in my area and every single branch is different, the smaller banks still are generally much nicer and more hometown mentality though. Try some of the off brand small banks and odds are they still have coin machines that will run half dollars no problem, some even still run Ikes lol. As far as opening an account and dumping coins to it instantly i don't think they would have a problem with that since after all you are putting money into their bank. I just let the money sit in my dump account until it is time to pick up coins then i made a large withdraw and go buy more halves. Chase seems especially helpful when they see money being deposited and withdrawn a lot in larger amounts, I have a feeling they think i have a grip of money elsewhere and if they are nice i will bring it to them lol. I ask for halves when i withdraw for the week and they always seem to "find" some.

 

[fish on!]

I tried the coinlok bags with bank of america one time. They have a two week turnaround before it is deposited to your account. I took a rolled box into them once, but rerolling is a pain. I have since closed my account with them. I'll stick with the coin counters for now. Once I up my volume above $5k a week I'll look for alternatives. Right now I have a regional bank that has a coin counter and it doesn't have any of the bag change issues. Unfortunately, they only have four branches within an hours drive of my house. I've been dumping 1k at a shot with them and doing $500 dumps at various TD branches.

 

[Wilmingtonsilver]

My bank requested that I use them, and they credit my account right away.

 

[thripp]

I use them, but all the banks I dump at provide the bags for free, which is pretty sweet.

 

[RocknRoll]

Thanks for the replies everyone. For the bags.....do you only put 1 type of coin in each bag? (Only halves in a bag, or can you mix coins....halves, quarters, cents...etc).

 

[TimZim]

I use them and coin counters

 

[twiasp]

Thanks for the replies everyone. For the bags.....do you only put 1 type of coin in each bag? (Only halves in a bag, or can you mix coins....halves, quarters, cents...etc).

I only put halves in mine and always if you know put the amount on the bag that is in there. Seems if you put undetermined on the BoA bags they come back a little short every time.