Turned away by Citizens bank today!

[talon146]

Two weeks ago I went to a Citizens bank and asked them if I could exchange 4 boxes of wrapped halves for cash. The teller didn't mind at all, it took her about 10 minutes to count everything, make sure everything was good and I was on my way.

Today I went in with 2 boxes of wrapped halves to cash in and they told me they couldn't help me any more because it is too much of a hassle. I didn't get snippy or anything just smiled, said "No problem" and walked out. I'll never go back. I can't believe doing their job is too much of a hassle. It's not like I brought a bag of loose change in or something.

 

[MrSchulz]

Are you a member

 

[talon146]

Are you a member

No, I don't have an account there.

 

[db23]

So you wanted to dump 1K in halves at a bank you don't even have an account with? And you're upset they wouldn't do it?

 

[jrf30]

then it is not their "job" to take your coins. YOu are not their customer. You are just someone making them work for no gain in return.

I don't think they werwe out of line. Sorry.

 

[usernameerror]

Tellers/banks rarely enjoy receiving boxes of rolled halves. To them, its more of a hassle and a risk. For all they know you could be giving them a box of washers with half dollars showing on the ends. The boxes will also most likely sit in their vault and take up room. I recommend finding a coin machine in your area and do all your dumping there. If you don't have one, try splitting your dumps into smaller increments and spread them out to different banks.

 

[talon146]

I appreciate the objective feedback. Honestly how much extra work is this for a bank? A few minutes to count it and a few minutes to fill out a form/send it out on the next weekly truck? I understand why they wouldn't want to order boxes for non customers, but to not exchange currency 1:1 is surprising to me.

The only coin machine in my area that doesn't charge a fee needs to have the bag changed out every $100 of halves. It is more of a PITA than bringing a wrapped box in.

 

[db23]

I appreciate the objective feedback. Honestly how much extra work is this for a bank? A few minutes to count it and a few minutes to fill out a form/send it out on the next weekly truck? I understand why they wouldn't want to order boxes for non customers, but to not exchange currency 1:1 is surprising to me.

You are costing them money, plain and simple. You think that the armored car carrier comes and picks up the coins out of the kindness of their heart?

You have no valid complaint.

 

[talon146]

You are costing them money, plain and simple. You think that the armored car carrier comes and picks up the coins out of the kindness of their heart?

You have no valid complaint.

Fair enough. In that case, pretty much everyone who does CRH is costing the bank money. Why even allow a customer with a personal account (as opposed to business) order/exchange bulk coins?

 

[tpmrcp]

Join TD Bank where they have a coin counter that is free for members or use coinstar and pay the fee.

 

[talon146]

Join TD Bank where they have a coin counter that is free for members or use coinstar and pay the fee.

I am a member at TD bank, the coin machine works well for quarters or dimes. If you are dumping a large amount of halves, the teller has to change the bag out every 100 dollars which takes forever. I'll try dumping at a branch that doesn't have the penny arcade, but I imagine it's only a matter of time before I get flagged even as a customer. I'm curious how Timzim goes through such a large quantitiy. Timzim if you are reading this, care to chime in?

 

[db23]

Fair enough. In that case, pretty much everyone who does CRH is costing the bank money. Why even allow a customer with a personal account (as opposed to business) order/exchange bulk coins?

Ok, now you're catching on a little bit. The reason they will do it for account holders is because in general, banks make money off account holders. Now that may not be the case with CRHers, but if you have an account that you deposit that money into, it will increase their holdings and they will make money off it. Even if you are just exchanging, as an account holder they'll assume that you have at least something in your account that they are making money off of.

If I have a mortgage with a bank and exchange coins there, you can bet that even after whatever they pay the armored car company to come pickup, count and then roll the coins, the bank is still making some good money on my ACCOUNT.

Banks are in business to make money, not order you halves or take your dumps. If you're not making them money then they have no use for you.

 

[usernameerror]

I appreciate the objective feedback. Honestly how much extra work is this for a bank? A few minutes to count it and a few minutes to fill out a form/send it out on the next weekly truck? I understand why they wouldn't want to order boxes for non customers, but to not exchange currency 1:1 is surprising to me.

The only coin machine in my area that doesn't charge a fee needs to have the bag changed out every $100 of halves. It is more of a PITA than bringing a wrapped box in.

From my experience, most banks do not send away boxes of re-rolled halves. They sit in the vault until someone wants them. I stopped by a bank one day and one of the tellers told me they have been sitting on a box of halves for almost a year. I reluctantly purchased the box. When the teller came out of the vault, I noticed that box was was taped and rubber banded shut. Not a good sign. Turned out to be a solid box of CWR dumps. I just emptied the rolls into a bag and took it straight to a coin counter.

 

[sack0silver]

Become a Citizen, do your part.

 

[BillyOceansEleven]

I appreciate the objective feedback. Honestly how much extra work is this for a bank? A few minutes to count it and a few minutes to fill out a form/send it out on the next weekly truck? I understand why they wouldn't want to order boxes for non customers, but to not exchange currency 1:1 is surprising to me.

There are several factors here: 1) tellers don't like dealing with bulk coin, and not having an account gives them a good reason to refuse you 2) besides the extra work, the dump costs the bank money in the form of processing fees, materials, and labor and 3) as usernameerror noted, they don't know what you are bringing them. As a former teller I can tell you we would be shorted on rolled coins quite often, although since we would only accept coin from non-customers we never had many issues with washers and non-coins rolled up.

As for the question of how TimZim does it, he has posted pretty often about using bags and being able to dump them for immediate cash, but this is undoubtedly the result of a lot of work building relationships with his dump banks.

From my experience, most banks do not send away boxes of re-rolled halves. They sit in the vault until someone wants them. I stopped by a bank one day and one of the tellers told me they have been sitting on a box of halves for almost a year. I reluctantly purchased the box. When the teller came out of the vault, I noticed that box was was taped and rubber banded shut. Not a good sign. Turned out to be a solid box of CWR dumps. I just emptied the rolls into a bag and took it straight to a coin counter.

My experience is this is only half correct. At least what I have seen is that most banks will ship out re-rolled halves if they have a lot (a full box or more). However, if they have just a few rolls they will typically hold onto them until either someone asks for them or they get in enough to justify sending all of them out.

 

[sheepdog_tx]

You are costing them money, plain and simple. You think that the armored car carrier comes and picks up the coins out of the kindness of their heart?

You have no valid complaint.

+1 here. Howevr even tellers at your own bank don't like unverified rolls, half dollars, or ther "odd" coinage in thier tray. No sure, why, probably has to do with how it is logged in thier counts or something. Most seem to want to get rid of anything odd. I actually had a teller today seem frustrated I didnt want a roll of $1 president dollars.

 

[usernameerror]

+1 here. Howevr even tellers at your own bank don't like unverified rolls, half dollars, or ther "odd" coinage in thier tray. No sure, why, probably has to do with how it is logged in thier counts or something. Most seem to want to get rid of anything odd. I actually had a teller today seem frustrated I didnt want a roll of $1 president dollars.

Agreed. Tellers hate any type of "odd" currency. I've never had issues dumping rolls of nickels or dimes but as soon as I pull out rolls of halves, I get the eye roll and the rude attitude. Most tellers have to count their tray and safe after every shift. This becomes a PITA if they constantly have to count the same half dollar rolls that no-one wants. Everyone knows this already but this is why most tellers will love you to death when you buy all of their halves and dollar coins.

 

[BillyOceansEleven]

Agreed. Tellers hate any type of "odd" currency. I've never had issues dumping rolls of nickels or dimes but as soon as I pull out rolls of halves, I get the eye roll and the rude attitude. Most tellers have to count their tray and safe after every shift. This becomes a PITA if they constantly have to count the same half dollar rolls that no-one wants. Everyone knows this already but this is why most tellers will love you to death when you buy all of their halves and dollar coins.

Correct. When I was a teller you had to do a count of everything assigned to you including your coin (loose and rolled) at the end of every shift. It would just get annoying to keep counting the same SBA dollars and $2 bills no one wanted. The other issue was that we would have a limit to how much we were allowed to have in our till (subject to surprise count by the bank manager) and any coin you had counted against that limit. During especially busy times it would be difficult to function under the limit if you had a lot of coin in your vault.

 

[FormerTeller]

I'm shocked they exchanged the original $2,000 for you without an account. Never would have happened in my bank...

 

[TimZim]

Two weeks ago I went to a Citizens bank and asked them if I could exchange 4 boxes of wrapped halves for cash. The teller didn't mind at all, it took her about 10 minutes to count everything, make sure everything was good and I was on my way.

Today I went in with 2 boxes of wrapped halves to cash in and they told me they couldn't help me any more because it is too much of a hassle. I didn't get snippy or anything just smiled, said "No problem" and walked out. I'll never go back. I can't believe doing their job is too much of a hassle. It's not like I brought a bag of loose change in or something.

There just LAZZZZZZYYYYYYYY