Took some persuasion but my dump bank is going to let me use bags!!

[Nomatic00]

I'm really stoked.. I opened an account at this small local bank about three weeks ago. They are the only bank in town with a free coin counter. My CU charges 8 freaking percent for a customer to use theirs! I was up front with the VP that I opened the account with and told her exactly what I was doing and she said that it was not a problem.. So, I have been dumping about $2500 or so per week in nickels dimes and halves. Lots of bag changes for the teller, lots of halves jamming up the machine for her to clear, but she is never anything but smiles. I had asked about a week ago about the possibility of using coin bags and was told that they only do that for a couple of business customers, so I let it go. Today when I went in I talked to the VP and the branch manager and asked them about using coin bags. I laid out my thoughts on how it would save the teller time, save me time and how it would be a lot less wear and tear on on their coin counter. I could see the resistance they had to the idea waver ever so slightly so, I told them that I would be willing to bring over the $ in my money market account from the CU and put it into something at their bank. It's not loads of cash but I saw the sparkle in their eyes.. I sealed the deal by telling them that I would be happy to buy my own bags. I think I can get bags for about .50 to .75 per if I buy in bulk. .50 to dump 1k in halves? Hell yeah that works! I am pretty sure that I can get a better interest rate on my savings to boot.

The only thing I didn't like about CRH was dumping.. Fixed that one! I am sitting here grinning like the Cheshire cat!

Anyone else buying their own bags? Got a good site to buy them from?

 

Amazon Forum Fav 👍

Treasure of Victoria Peak - Grab it through Amazon!

[agme]

WTG. I'm working on the same thing. Google Coin bags and you'll find bank supply companies that sell them for about what you said, around $70 per hundred plus shipping. Heck yeah, under a buck to dump a grand, with no rerolling, that would work for me.
Good luck.
HH

 

[Coppercrazy]

I did the same thing with my halves just put $1k in bags, and have them to the teller! The bank supplied the bags for me though.

 

[Wilmingtonsilver]

Yeah, my dump bank just switched me to bags about 2 weeks ago. I love it too. For the sake of the teller's backs, I can only put $500 per bag, but that works for me too. The bank supplies the bags to me also. It was awesome on my first week of dumping. I hope it keeps up. I also hope it works out great for you too.

 

[twiasp]

I put 500 dollars a bag because BoA says their handles rip out with more, plus it is easier for them to carry. I offered to buy my own bags but they again said it is no problem for them they go through tons, they laughed and said at least your bags are full, not like some of the people that bring in 10 dollars in pennies for a bag. It is a great timer saver on both sides of the fence if you get bags in advance and ask the teller to show you exactly how they would like them filled out, fill bags at home, toss in trunk, easy dump at bank =0

 

[thripp]

I put $1000 per bag because they shouldn't be using the handles anyway. They are just plastic so they are really only good for 20 lbs. or less, not 49 lbs. With that much coin they should be gripping the sides with both hands on the left and right.

The banks supply the bags for me so I don't buy any to dump halves, but I did have a teller give me a bunch of free CoinLok bags once, so I can use those if I have to.

 

[Kaekue]

I also started dumping my coins in bags a few months ago. I was excited about it even though they won't credit my account when I drop them off, I have to wait for Garda to pick them up and count them. If I drop them off the day that they are picked up it only takes 2 days to be credited into my account though. My only advice is if they do the same thing to you and you have to wait for the credit make sure that you save your slip from the bag with the bag #. Last month they did not credit one of my bags and according to the bank manager it was Garda's fault and I had to wait up to 15 business days for Garda to find it. They took the whole 15 business days all the way up until the end of the day to deposit it into my account.

 

[Nomatic00]

Thanks for the advise everyone!

I also started dumping my coins in bags a few months ago. I was excited about it even though they won't credit my account when I drop them off, I have to wait for Garda to pick them up and count them. If I drop them off the day that they are picked up it only takes 2 days to be credited into my account though. My only advice is if they do the same thing to you and you have to wait for the credit make sure that you save your slip from the bag with the bag #. Last month they did not credit one of my bags and according to the bank manager it was Garda's fault and I had to wait up to 15 business days for Garda to find it. They took the whole 15 business days all the way up until the end of the day to deposit it into my account.

I know I'll have to wait for my money till Garda or whoever they use counts the coins, but I hadn't thought about speeding up the process by dong my dump the day before they pick up coins..Great idea! I'll be sure to keep my bag serial numbers and amounts just in case there is a problem..

 

[maverick]

Thanks for the advise everyone!



I know I'll have to wait for my money till Garda or whoever they use counts the coins, but I hadn't thought about speeding up the process by dong my dump the day before they pick up coins..Great idea! I'll be sure to keep my bag serial numbers and amounts just in case there is a problem..

The banks prefer that you drop the same day or the day before the bags get picked up, they don't want to be tripping over them in the vault for a week waiting for them to be picked up, I drop mine the same morning they are getting picked up and I have a 2 day turn around for credit. HH, Maverick.

 

[ArkieBassMan]

The worst case scenario for dumping in bags vs. into a coin machine or re-rolling is that once the courier picks up the coins, the coins are long gone if any major counting discrepancies occur. For example, I drop off a $1000 bag of halves, Loomis picks them up and a few days later Loomis tells the bank that there was only $800 in the bag. The coins are gone and likely in the process of being rolled and boxed if not already boxed and ready to ship back out. How do I prove there was $1000 in that bag? Had I dumped the $1000 in a machine and the machine slip says $800, my "missing" $200 is in that machine somewhere.

With that said, if I could find a bank (or banks) willing to take coins in bags I'd likely do it and up my volume...but the fear of a horrible miscount would always be in the back of my mind.

 

[Nomatic00]

The worst case scenario for dumping in bags vs. into a coin machine or re-rolling is that once the courier picks up the coins, the coins are long gone if any major counting discrepancies occur. For example, I drop off a $1000 bag of halves, Loomis picks them up and a few days later Loomis tells the bank that there was only $800 in the bag. The coins are gone and likely in the process of being rolled and boxed if not already boxed and ready to ship back out. How do I prove there was $1000 in that bag? Had I dumped the $1000 in a machine and the machine slip says $800, my "missing" $200 is in that machine somewhere.

With that said, if I could find a bank (or banks) willing to take coins in bags I'd likely do it and up my volume...but the fear of a horrible miscount would always be in the back of my mind.

Yeah, that would really suck! The VP that I worked out the deal with told me to weigh the bags. $1000 in .50's weighs 50# I also remember reading another post on TN, the poster said that as long as Garda(or whoever) weighed the coins when they got to the processing area, as long as the bag was no more than +- 3% there is no problem. If that is true then a $200 lose should not happen.. If we're talking about $2-$3 discrepancy well I could eat that if I had to.. I don't count the halves coming out of the rolls so they could be short I would never know..

 

[BuffaloBoy]

i wish i could have banks that accept bags, i would be willing to pay as much as $1 per bag if necessary to hold $1k in halves, that sure saves the dirty looks I get when the fat old cat lady walks up behind me grunting and mumbling to herself because I am taking too long...

 

[Nomatic00]

I called the bank to see if they would let me borrow some bags till mine came in(which they said was no problem) and I asked about the timing of the coin pick up service and when i should drop off. She said that they have to let the company know how many bags by Wednesday and that they will pick them up the following Tuesday. I thought that this would kind of slow me down waiting to get my money so, I asked about how long it would take after they picked them up, to get my money deposited into my account. To this she replied " Oh, we'll pay you as soon as you drop the bags off." WOOOHOOOO I really like this small bank! They seem to go above and beyond to accommodate my non standard requests.. Refreshing in today's business environment..

 

[twiasp]

To this she replied " Oh, we'll pay you as soon as you drop the bags off." WOOOHOOOO I really like this small bank! They seem to go above and beyond to accommodate my non standard requests.. Refreshing in today's business environment..

The BoAs i deal with have a daily coin pick up, they just ask that i don't bring it in near closing time because Brinks has come and gone for the day. They also counter credit all the money for my bags into my account, and make an adjustment after the counting if need be, usually it is +/- 2 dollars on my 2k i drop with that branch. Another branch has an onsite coin counter and are so nice it makes me feel bad, they will count as many as i want them too, but i only take in 1k and any loose coins i buy during the week.