Transition a bank from "Pick up" to "Dump" methods.

[EpicDeuce]

Transition a bank from "Pick up" to "Dump" methods.

Ok- my pickup bank refuses to order me any more boxes (unless I upgrade to a business account). So, sounds simple right, new dump bank? Well I've heard a lot of people with same problem but I want to hear individual methods to weigh my options as to the best way to go about the transition so I can maximize my dump quantities there.

 

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[MentalUnrest]

Re: Transition a bank from "Pick up" to "Dump" methods.

One of my pick up banks informed me they were going to start charging $4.00 per box. I wasted no time and went back to my car and unloaded 1K in halves I was going to drop at another bank. Dump banks are just as important to me as banks I order from so when I can gain one or two more, all the better. What else would you do with a bank that will no longer order for you or charge you for boxes?

 

[ArkieBassMan]

Re: Transition a bank from "Pick up" to "Dump" methods.

Ok- my pickup bank refuses to order me any more boxes (unless I upgrade to a business account). So, sounds simple right, new dump bank? Well I've heard a lot of people with same problem but I want to hear individual methods to weigh my options as to the best way to go about the transition so I can maximize my dump quantities there.

There really is no method. The only way to find out is to just start dumping, see what happens, and adjust your amounts accordingly if you can. I once had a dump bank tell me that I could no longer bring in coins after dumping about $500 a week there for 2-3 months. The branch manager had said it would be just fine. After 2-3 months that same branch manager cut me off. I've been dumping up to $1200 a week at another bank for over a year with absolutely no problems so far. In fact, they have told me that I can bring as much as I want, as often as I want. So far they have been true to their word. Of course that other bank had told me the same thing, so we'll see.

My point is that every bank and even every branch is different. You might be able to get away with dumping $10,000 a week. You might get cut off dumping as little as $100-$200 a week. All you can do is try it out and see what happens. It does seem logical that if you have the ability to scatter your dumps around where your not hitting the same bank(s) week after week after week that the bank would be less likely to cut you off. The more dump banks you have, the more options you have. You definitely can't have too many. Good luck!

 

[65gt350]

Re: Transition a bank from "Pick up" to "Dump" methods.

My method is to spread it out at a few branches of the same bank in moderate amounts <$250 until I can gauge the reaction of either the Lead teller or vault teller. Once I identify a good candidate I will bring in $600 wrapped in folded wrappers not the OBW. During this deposit I ask what they do with them and that normally leads to talking about max quantities needed to ship etc... On the next trip in I normally would bring another $600 deposit and some doughnuts. If the reaction is "you didn't need to do that" then it is game on. We don't have coin counters in the branches out here so I am not sure what effect those would have on a dump bank.

My recommendation is to not dump in OBW wrappers and definitely do not dump using the same box that the halves come in.

HH,
65GT350

 

[EpicDeuce]

Re: Transition a bank from "Pick up" to "Dump" methods.

Well, i understand the dumping game/shuffle quite well. Let me be clear however, this bank branch in particular is of interest to me since it's the closest to my home. I guess there isn't a easy answer to my question... This bank used to order me lots of coins, cut me off, now if I show up the next week with the same coin type to deposit this time, they'll likely tell me to go #$&!$ off. See what I mean? Unless it's there policy where they are mandated to accept coins from account holders, but I've heard of people gettin charged...

So, how to smooth this transition from pickup bank to a dump bank. I find it hard to believe that no one else has had this same dilemma before.

 

[JT10]

Re: Transition a bank from "Pick up" to "Dump" methods.

When you turn a pick up bank into a dump bank, aren't you guys concerned about polluting the coin supply with your dumps? Currently I order boxed from two different banks that use Loomis, and dump at two different banks that use Brinks. Hence I get coins from one service and dump on the other and therefore should always be getting fresh coins.

As gratifying as it would be to start dumping on a bank that cut me off, I would think that it wouldnt be worth it as you would get your dumps back in future boxes.

HH

 

[tank014]

Re: Transition a bank from "Pick up" to "Dump" methods.

Just dump I wouldn't worry about it at all. I wouldn't worry about getting your old haves back because if your in this for the long haul chances are you'll see your coins more than once during your time crhing. Also to the guy that picks up from loomis branches and dumps at brinks branches. Have you tried out the coins from your brinks branches? All in all there are probably hundreds of banks depositing tons of coins to there distributors its not just your coins. Take what you want from my post but lomis guy you might be missing out.
Gl and hh,
Frank

 

[rjw4law]

Re: Transition a bank from "Pick up" to "Dump" methods.

I alternate between 8 different banks, with the pickup and the dump....so far no problems.

 

[ArkieBassMan]

Re: Transition a bank from "Pick up" to "Dump" methods.

When you turn a pick up bank into a dump bank, aren't you guys concerned about polluting the coin supply with your dumps? Currently I order boxed from two different banks that use Loomis, and dump at two different banks that use Brinks. Hence I get coins from one service and dump on the other and therefore should always be getting fresh coins.

As gratifying as it would be to start dumping on a bank that cut me off, I would think that it wouldnt be worth it as you would get your dumps back in future boxes.

HH

Unfortunately some of us do not have that option. I wish I did. I live in rural America. Every bank within 60-70 miles of me that I have visited, and I have visited almost ALL of them, uses Loomis.

 

[EpicDeuce]

Re: Transition a bank from "Pick up" to "Dump" methods.

Basically my worry is that the bank that used to order me boxes that now has cut me off will simply tell me 'no' when I attempt to deposit a whole lot of halves. Or attempt to charge me. Either way they'd be pissed but they reserve the right to refuse my deposit...

 

[mlayers]

Re: Transition a bank from "Pick up" to "Dump" methods.

For a dump bank do what I hae done. I had my wife take in some of my dumps into the bank that way they will not keep on see the same face. My son and his girlfreind told me that they will also take in the coins.....Matt