Pickup vs Dump Banks... Question...

[xnytxowlx]

Everyone, I am fairly new at this and am looking to increase the number of boxes I can get each week. I have a pick up bank, but only one branch of that bank chain is offering to order boxes for me. I have a dump bank, where I dump at numerous branches. My question is: Is it okay to order halves at one branch of a bank and dump them at a different branch of the same bank? Can they track that sort of information and cancel my account? Any advice would be very welcome. I am glad I found this forum... this is fun!!!

Thanks,
Seth

 

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[enamel7]

They can track it and would probably put a stop to it in no time at all. I would just look for additional pickup banks.

 

[50cent]

Everyone, I am fairly new at this and am looking to increase the number of boxes I can get each week. I have a pick up bank, but only one branch of that bank chain is offering to order boxes for me. I have a dump bank, where I dump at numerous branches. My question is: Is it okay to order halves at one branch of a bank and dump them at a different branch of the same bank? Can they track that sort of information and cancel my account? Any advice would be very welcome. I am glad I found this forum... this is fun!!!

Thanks,
Seth

No, the dumps will eventually make there way back to the armored provider (where they order coins from) you are ordering from (ie garda). Enamel is incorrect, they cannot "track it", I never had a bank write account information for ordering or dumping coins, and in order to track this, they would need to record both transactions.


Example for the first part of what I was saying: Let's say you spraypaint all $500 worth from of half dollars you've just searched from Branch#1. Then you package them or take them to the coin counting machine at branch #2. Eventually, branch#2, is going to call Gaurda (typically banks use the same armored truck companies), and they will pickup the half dollars. (Unless some unfortunate CRHer gets your dump) The half dollars go into a giant hopper, are sorted into rolls once again. You have a good probablity of encountering the same coin time after time, if you pickup and dump from the same bank, even if you use different branches.

 

[mercury1]

It's better to not dump at a different branch of a bank that orders for you. It will cause you to get cut off at some point. Open a new dump bank account that has multiple branches to dump at.

 

[baddbluff]

I sometimes pickup and dump at different branches of the same bank (BofA). In theory, you would think I would be searching my own dumps over time (which may be partially true), but some of my best boxes have come from BofA boxes, after many months of dumping heavily at other branches. No one really knows where your dumps go or where your boxes come from or how big the "pool" of halves out there really is. Just keep searching!

 

[xnytxowlx]

Im not worried about getting my same coins back and brinks tracking it, I am worried about the bank seeing that I ordered halves (they have to note it on my account in some way, I figure) and then see that I am cashing in halves in the coin counter. When I do that, I assume they would flag me in some way.

 

[Iamrussell]

Im not worried about getting my same coins back and brinks tracking it, I am worried about the bank seeing that I ordered halves (they have to note it on my account in some way, I figure) and then see that I am cashing in halves in the coin counter. When I do that, I assume they would flag me in some way.

All I can tell you is the banks ive ordered from have always spoken concerns that ill be dumpung right back into their machines-that branch or any other- so I assured them I wouldnt and i have another specific CU and I only use their machines- that is the only way ive kept a good relationship with my pick up banks- if you have a concern dont do it and find other dump or puck up banks

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just keep stacking, just keep stacking, stacking stacking stacking

 

[weighit]

Those of you using the coin machines are they free for you to use or are you paying 3% or more? Here in this town there are 2 credit unions with coin machines and they each charge 3% even if your a member of that credit union. At 3% on a $500 box I'd be loosing big bucks every week as I'm doing 4 boxes a week now.

 

[Iamrussell]

Those of you using the coin machines are they free for you to use or are you paying 3% or more? Here in this town there are 2 credit unions with coin machines and they each charge 3% even if your a member of that credit union. At 3% on a $500 box I'd be loosing big bucks every week as I'm doing 4 boxes a week now.

No dumping fees for me

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just keep stacking, just keep stacking, stacking stacking stacking

 

[Omega]

There's a whole science to it. There really is. I've been hunting for 3ish months, and volume hunting for maybe 4-5 weeks, and I'm still trying to figure it all out. One tip I can give you is banks banks banks. The more bank accounts you have, the easier it will be. I think I have 8 or 9 accounts, and I'm currently working on getting all my pick ups within 5 minutes of my house (currently 10 minutes). I'm doing 20 boxes a week and could easily be getting 45+ is I would drive ~15 minutes and had time for it. I also have issues dumping. I've figured out how to do about 12k in dumps a week, but I struggle when I get more than that. Not sure what your goal here is but the more account the better. I personally don't order from one branch, and dump at another. I have a CRH friend who lives in the area who was doing 50-60 boxes a week who was ordering from small branches and dumping at the larger ones and he never had an issue. Then again, all the banks that ordered for him, wont order for me and vice-versa. Moral of the story every situation is different for everyone, the only way to find out is to test the waters. If you have any other questions feel free to PM me :P Goodluck! HH!

 

[ArkieBassMan]

Everyone, I am fairly new at this and am looking to increase the number of boxes I can get each week. I have a pick up bank, but only one branch of that bank chain is offering to order boxes for me. I have a dump bank, where I dump at numerous branches. My question is: Is it okay to order halves at one branch of a bank and dump them at a different branch of the same bank? Can they track that sort of information and cancel my account? Any advice would be very welcome. I am glad I found this forum... this is fun!!!

Thanks,
Seth

The answer to your question is...possibly. Its possible you could get away with buying from one branch and dumping on another forever. Its possible that even if someone busts you doing so that they won't care. What is more likely is that eventually someone will figure out that the guy dumping all the half dollars at Branch A is the same guy ordering all the half dollars at Branch B and that will directly lead to your being denied permission to do either.

Besides risking getting cut off, its just a sorry thing to do - unless someone pretty high up at that bank has given you the go-ahead to do so. Here's why: The ordering and dumping of coins is not a free service to the bank. That bank has to pay a fee to order those boxes for you. They have to pay another fee to ship off your rejects. If they are ordering the boxes for you with no fee, they are doing you a favor. Do not show your "appreciation" by hitting them with an additional unnecessary expense. I would take that as a "slap in the face," and they very well might also. Using a different bank to dump is the smart play.

Some banks do track these activities. At one of my dump banks, I need my account number every time I dump coins, even though I'm not making a deposit. Though I have never seen what was typed, the teller inputs some info into the computer. I assume someone there could tell me how much I've cashed in since I began using their machines. Also, some tellers are "floaters"...meaning they work at whatever branch they are needed. All it would take would be for one floating teller to bust you and you very well might lose your privileges.

 

[Infowarrior]

Arkie is right, they do track your movements...

And yes, floater tellers are pretty common, I have been "outed" twice now, from a floater saying Oh hey I saw you yesterday buying XXX amount of half dollars at XXX bank! or Hey, you didnt bring us cookies yesterday at xxx bank? lol... yea those are uncomfortable spots haha

My dump bank is the only brinks source I know of around this area, and I tried to get a box or 2 ordered before, one branch did get me 1 skunked box, then I tried to order 2 boxes from a different branch, and got a call the next day from the main office, saying because of my (dump records) they would not order any coin for me. So that was that, I never pushed it any farther, I love my dump banks, I couldnt imagine not having these around... non bagged machines, able to accept any amount... Plus all the goodies I find inside of those machines

HH

 

[enamel7]

If you order halves and they take the money from your account, then dump the coins (I have to put my account # on the ticket) , then they can definitely track you. Sorry 50, but I'm correct. Been at this a lot longer than you.
HH
enamel7

 

[50cent]

If you order halves and they take the money from your account, then dump the coins (I have to put my account # on the ticket) , then they can definitely track you. Sorry 50, but I'm correct. Been at this a lot longer than you.
HH
enamel7

I almost always pay and order with cash rather than having the amount deducted from my account. I thought this was the way most CRH'ers did it but I guess I'm wrong. I didn't think of this point and I am glad you brought it up.

 

[enamel7]

No problem 50.

 

[Styfflin]

Floating tellers have caught me a couple of times. For me, I have found it tough to find banks who are willing to take coin and have coin counters that can handle halves without breaking. That's why I have had to turn to branches of the same bank. It's hard to resist good banks that rarely say no to customers. Just need to dump smarter I guess.

 

[coinhunter2013]

I have 4 banks and only use 2 really sometimes 3. I can order as much as I want from bank A. I dump at 2 other locations typically just one. Bank B has a free counter in lobby for members. Bank C has a free counter for tellers in back. I typically dump at bank b unless I spread it out. I never dump at the same place I pickup. That's like pissing in your own pool.....

 

[Omega]

I have 4 banks and only use 2 really sometimes 3. I can order as much as I want from bank A. I dump at 2 other locations typically just one. Bank B has a free counter in lobby for members. Bank C has a free counter for tellers in back. I typically dump at bank b unless I spread it out. I never dump at the same place I pickup. That's like pissing in your own pool.....

You say you have a bank that can order you as many boxes as you want. Well what is the limit? Have you tried to order more than 8 or 10? Because thats usually the cut off for most banks.

 

[coinhunter2013]

I usually only order up to4 at a time because that's what I can afford. The lady who does the ordering said she will order any volume I ask for. My family has had a business account with this branch since about 1990 though. So we have a good relationship there.

 

[mark1982]

I usually only order up to4 at a time because that's what I can afford. The lady who does the ordering said she will order any volume I ask for. My family has had a business account with this branch since about 1990 though. So we have a good relationship there.

Just don't bite off more than you can chew. This happens a lot. People will order a ton of halves thinking they have a good dumping situation set up , and then it back fires on them. Gradually increase your volume. We see stories on here about people stuck with 10k in halves and they cannot get rid of them.