What do distributors charge banks for coin?

[Joanner]

Not sure that the word "distributor" is the correct term for Brinks, Loomis, Dunbar, etc. I am trying to find out the various ways banks are charged for ordering coin boxes. One scenario, I think, is that for a set fee, the bank can order any amount of coin. Are there others?

 

[BBcardsRI]

I've been told by banks that I have been ordering halves from that the will need to charge me per box ordered since THEY are being charged by the delivery service.

Other people have reported similar things... anything from a per roll fee... to a box fee of anywhere from just a few box to almost $30.

So that doesn't play into the "order all you want for a set fee" plan.

~Dave

 

[Silver_Fox]

Who cares as long as they don't charge me/us. Dont bring up the F word, it will bring you bad luck.

 

[Joanner]

Who cares as long as they don't charge me/us. Dont bring up the F word, it will bring you bad luck.

I care. The bank I was using has closed. They didn't charge me anything for the boxes. Another bank I have approached wants to charge. I thought if I knew what some of the scenarios are, I would be better prepared to dicker with them. I also have some money to wave in front of them to perhaps negotiate a deal so I don't have to pay (provided their rates are as good or better than what I have now).

 

[BBcardsRI]

Yea I understand your woes.

The whole fee business is a tricky one. Different branches of the same bank... even as close as being down the street from one another have different rules.

How big is the fee they are trying to slap you with?

~Dave

 

[cyberdan]

I think, is that for a set fee, the bank can order any amount of coin.

I know the question was on buying coins. But a branch manager told me that I can return any amount because they pay a set fee in their contract for any amount.

Also, I have never been charged a dime for boxes of coin but this is from other banks. Just shop around.

 

[Silver_Fox]

Who cares as long as they don't charge me/us. Don't bring up the F word, it will bring you bad luck.

I care. The bank I was using has closed. They didn't charge me anything for the boxes. Another bank I have approached wants to charge. I thought if I knew what some of the scenarios are, I would be better prepared to dicker with them. I also have some money to wave in front of them to perhaps negotiate a deal so I don't have to pay (provided their rates are as good or better than what I have now).

Don't pay fee's. You should be able to find banks that don't charge. If they mention the F word ............run.......run FAST
HH, S_F

 

[jim4silver]

I hate to admit this, cause it shows how addicted to I am to CRHing. But one bank where I get halves from charges 5 bucks a box. I get halves from several other banks that do not charge anything. But this bank orders 12 or so boxes at a time (I am the only one who ever gets them it seems), and when all my other banks dont have any or I have exhausted my supply for the week, I go to the fee bank and pay for them. So far, I have found enough silver to more than pay for any fees, so that is not a problem. But I dont believe they are being charged by Brinks for them specifically like they tell me. I have asked other banks if they get charged when they order me boxes and they say no, and they are smaller than this particular bank.

I have pulled one or two dream boxes from this bank, so I keep going back from time to time. I look at it like a 5 dollar lottery ticket.

Jim

 

[BBcardsRI]

Jim... do you order a dozen upfront and pay the fee then go back whenever you need a box? Like you let the boxes sit in their bank for a week or two ? Or do you order and then pick up right away?

~Dave

 

[Codes]

If you can, open up an account at a credit union. My credit union charges me exactly ZERO fees for anything I do related to CRH. As long as I give them a few days notice, I can pretty much get whatever I want.

 

[BBcardsRI]

A lot of people complain about their small CU's refusing to order halves though. They either don't want to bother with something new/different, don't know they can do it, or can't because they are small potatoes.

I've heard plenty of reasons myself and read even more.

CU's are normally the ones refusing though, not so much the big boys like BOA etc.

~Dave

 

[jim4silver]

Jim... do you order a dozen upfront and pay the fee then go back whenever you need a box? Like you let the boxes sit in their bank for a week or two ? Or do you order and then pick up right away?

~Dave

Dave,

I pay for them as I buy them. They don't order them for me per se, but I am the only one who ever gets them. I guess if someone else off the street goes in there they would charge them too. This bank is my main bank for personal accounts, and they started the fee crap early into my CRHing career.

I mostly get boxes from the bank where I have my business accounts, and a couple where I don't even have an account (these are about only 2-3 boxes per month when I am in the town where they are located).

If I am "jonesin" for halves and all my other options are empty, I call the fee bank and ask what they have on hand. They now order 8-12 boxes at a time. Sometimes I go thru all of them in a week, and sometimes they sit for 2-3 weeks. It just depends.

Jim