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Interesting talk with a branch manager today...UPDATED

$ilver$urfer

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I walk in to pick up my two boxes of halves today and the bank manager says "Hi, I talked to the other branch manager at the other bank you are ordering from and we know you have been ordering halves from both branches." I say, "Yes, I have been doing that for many months now with no problems, your tellers can't lift more than two boxes at a time so I thought I would make it easy for you by ordering two at your branch and two at the other branch each week."

He looks surprised, then says "Oh, but Loomis says the boxes will be $25.00 each from now on if you want to keep ordering them." I say "$25.00 each? That's outrageous!" He says " Yes, I don't think they want you ordering boxes anymore because you are the only one in this area ordering them and they are a non-circulating coin. They also say they are just re-rolling your my dumps so I am getting my same coins each week." I say "Oh really, then why do I find coins for my sets every single week?" He seemed confused. "I order from you guys (Loomis) and then dump my rejects on Brinks." If I was getting my reject coins back each week why would I still be ordering coins from you guys?"

He is really surprised by my statement. I said it sounds like Loomis doesn't like to lift/deliver heavier boxes, more laziness and convenience for them than anything else. Then I told him about my sister who is the branch manager for the largest Bank in North Carolina and how I know banks pay flat fees monthly for all coins, not special prices for special coins, etc. I also tell him that I think the $25.00 per box fee is total BS, he smiles and can see that I called their bluff. He then goes on to tell me they pay .16 cents per $100 of rolled coin. I proceed to tell him I have my mortgage, home equity, checking and savings account not to mention I pay them over $800 a month in interest on these loans, I have had direct deposit for over a decade with them, have lots of money saved in my accounts and the least they could do is order me a few boxes of coins each week. I said if push comes to shove I will pay the 80 cents per box each week if necessary.

He seemed very surprised that I was so knowledgeable and that I didn't just throw in the towel but instead called their bluff. He then told me they would have my coins ready for me next week and we would talk more about this issue in the future. I shook his hand, picked up my boxes and went home.

I'll let you know what happens at the other branch next week. :icon_thumleft:

HH,

$ilver$urfer :hello:
 
Upvote 0
Re: Interesting talk with a branch manager today...

Wow, $0.16 per $100. A local bank here wanted to charge me $15 for a box of half dollars. Luckily I have another bank that orders them with no fees :D.
 
Re: Interesting talk with a branch manager today...

Well played sir. Well played.
 
Re: Interesting talk with a branch manager today...

Wow! I will certainly have to keep the information you provided in mind for when 'my time' comes. As I am ordering 4-6 boxes per week. Should I cycle to another branch every other week to avoid this future conflict you think?
 
Re: Interesting talk with a branch manager today...

thanks for posting this
i think i might have to use some of that info soon at my bank :wink:
 
Re: Interesting talk with a branch manager today...

A lot of bank people will lie to you so they don't have to deal with coins. I really hate that about them. They could just ask you to order less because they're tired of lifting them. The Loomis guys complaining about halves not circulating is just dumb because if they don't allow people to order, what do they do with the ones that they still have and ones that people turn in? Let them pile up? It just seems like the Loomis guys are lazy and don't want to carry the extra weight. Maybe it was all those large amounts of boxes you ordered during Christmas that got the Loomis guys tired and they make up something to get you to stop ordering. Just sounded like the manager or the Loomis guys were trying to put up anything they can to get you to stop. If everything I had was so tied to the bank, I would do the same thing and argue them down. Hopefully, they'll get off your back.
 
Re: Interesting talk with a branch manager today...

Sfbay, it had nothing to do with Loomis. He called the bank managers bluff. The bank manager never expected to get $25 in the first place and just figured this would stop him from ordering. There is nothing better than handling a situation calmly and like a champ and the outcome being you winning. Goodjob.
 
Re: Interesting talk with a branch manager today...

You pay $800 a month in interest? YEEOOWWW, your bank should be chauffeuring you back and forth from home and serving lunch!
 
Re: Interesting talk with a branch manager today...

I hope that $800/month in interest pymnts is an incorrect figure. Even at 8%, that would make your p&i payments $10,000/month....or $120,000/year (unless you are paying interest only on a Heloc)
 
Re: Interesting talk with a branch manager today...

cdickrun64 said:
I hope that $800/month in interest pymnts is an incorrect figure. Even at 8%, that would make your p&i payments $10,000/month....or $120,000/year (unless you are paying interest only on a Heloc)

I think I actually pay more like $1,000 a month in interest to them, even at 5.6%, my home mortgage is about $200K and my home equity is around 20K at 4.5% and the mortgage is a 20 year loan, not 30. So yes, I pay them at least $1,000 a month in interest on the loans, probably more. p.s. - I pay my taxes and insurance separately (they are not escrowed). The branch manager is very familiar with my accounts, hence there was no resistance when I let him know how much they make off of me each month, and that his story was BS.

Go to any mortgage interest calculator online for a quick review of let's say a 200K mortgage at 5.6% at 20 years will cost $900 or so a month in interest.
 
Re: Interesting talk with a branch manager today...

Good show! If it is legal to do so in your State, carry a recording device on you when you go to banks. You can figure out why on your own.
HH
Rich
 
Re: Interesting talk with a branch manager today...

You handled the situation very well in deed. With your ability to call the bluff,
you should consider playing in the "World Series of Poker". Thanks for a very
interesting and knowledgable post.
rileyboy
 
Re: Interesting talk with a branch manager today...

fistfulladirt said:
You pay $800 a month in interest? YEEOOWWW, your bank should be chauffeuring you back and forth from home and serving lunch!

I have 46 mortgages with banks. I think I pay around $18,000 per month in interest. Good thing the rents on those pay for themselves.

But it sure helps when ordering to have so much business with the banks. :-)
 
Re: Interesting talk with a branch manager today...

Bravo! I wish I was that calm and collected, when I'm confronted I turn into a puddle. Even when I know I'm right. I hate confrontation. It's sad that people are so lazy that they balk if any part of their job gets a little harder. Well done for standing up for yourself. The bank employees get paid the same amount of money if they are handing you a box of halves or five paper bills. If they don't want to deal with coins they should write their congresspersons - not try to pull a fast one on their loyal customers.
 
Re: Interesting talk with a branch manager today...

Rich Hartford said:
Good show! If it is legal to do so in your State, carry a recording device on you when you go to banks. You can figure out why on your own.
HH
Rich

Great idea - I'll have to do some research and see it if is legal in NY. :laughing7:

HH,

$ilver$urfer :hello:
 
Re: Interesting talk with a branch manager today...

rileyboy said:
You handled the situation very well in deed. With your ability to call the bluff,
you should consider playing in the "World Series of Poker". Thanks for a very
interesting and knowledgable post.
rileyboy

No problem, a conversation that interesting just had to be shared with my CRHing buddies, I know all of you would do the same. :thumbsup:

p.s. - I love a good game of poker, but I can never can get enough people together to play a regular game anymore so I am limited to a couple of games a year nowadays! :'(

HH,

$ilver$urfer :hello:
 
Re: Interesting talk with a branch manager today...

jrf30 said:
fistfulladirt said:
You pay $800 a month in interest? YEEOOWWW, your bank should be chauffeuring you back and forth from home and serving lunch!

I have 46 mortgages with banks. I think I pay around $18,000 per month in interest. Good thing the rents on those pay for themselves.

But it sure helps when ordering to have so much business with the banks. :-)

You are an animal!!! ;D Way to go but I hope you have a good property management company/system in place for all those income-producing properties! I have 10 units myself in addition to my full time job and I manage all my properties myself and it is a lot of work. Sadly, many people don't realize how much they pay in interest on their mortgages each month. At any rate, you are absolutely correct, it is good to do a lot of business with your supply banks, that way they are more likely to order coin for you and hopefully not complain. If they do complain, you will have many legs to stand on! :thumbsup:

HH,

$ilver$urfer :hello:
 
Re: Interesting talk with a branch manager today...

JD-GA said:
Sfbay, it had nothing to do with Loomis. He called the bank managers bluff. The bank manager never expected to get $25 in the first place and just figured this would stop him from ordering. There is nothing better than handling a situation calmly and like a champ and the outcome being you winning. Goodjob.

Thanks for the kudos man, I just hope I win at my other supply bank too! I think I will, I have many legs to stand on! :thumbsup:

HH,

$ilver$urfer :hello:
 

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