Whats the cost for Loomis to pick up a bag? Pissed off a lying manager I think.

b_kauz

Jr. Member
Joined
Jan 3, 2011
Messages
28
Reaction score
27
Golden Thread
0
So just as the title says, anyone know what it cost for a bank to have a bag of change picked up?

Last week I had a run in with a branch manager. I had brought in three loads of coins over a two week period in the amounts of $629.98, $567 and $559.10, mainly dimes and halves. The first two dumps the tellers took them and deposited it no problem. On the last dump the teller lifts the bag and tells me she needs to grab her manager because the bag is too heavy for her. She leaves and returns with her manager and as he comes to the counter he is almost yelling (loud enough all the tellers stop what they are doing and look, along with other customers) at me asking me where I am getting all these bags of coins. Dumbfound and a little taken back I reply from different banks, you go ask for coins they will give you coins. He then states that he will process them this one last time and then after that he won't be doing it anymore and to take them back to the banks I get them at because it cost him $100 to get rid of these coins each time I bring a bag in. I find it hard to believe that it would cost between 15 & 17% to process these bags. My guess is he is just lazy and doesn't want the coin in his bank. So does anyone know what they charge?

Needless to say I wrote a nice long email to their director of bank branches about how this manager handled the situation and stated that I will never be doing business in that branch again and am still undecided on keeping my account with them.
 

Upvote 0
I dealt with one very small bank that did not have a contract with an armed truck company and also was not a member of FDIC. The vault teller told me that for every $1000 to ship out would cost the bank $50. There was a coin machine in their lobby but they disabled the 50c and 1$ option. Customers were allowed to dump up to $100 per visit. This bank will not order box of coins for customer.
 

I dump at a Credit Union that has a coin counter in the lobby. I then deposit the total into my son's account (If it is deposited into a minor's account, they charge nothing). They asked me what was going on, so I told them my son searches the rolls to find silver which I buy from him. They thought it was a pretty interesting way for my son to raise money. They have had no problem yet. I withdraw money when my regular bank account runs low...

I am not sure what I will do if they tell me not to come back. They are the only free machine I've found near me.
 

They asked me what was going on, so I told them my son searches the rolls to find silver which I buy from him.
Don't take this advice the wrong way, but it's not in your best interest as a roll hunter to educate the tellers. I just say, "my son is filling the holes in coin folders", which usually sounds legit.
 

fistfulladirt said:
Don't take this advice the wrong way, but it's not in your best interest as a roll hunter to educate the tellers. I just say, "my son is filling the holes in coin folders", which usually sounds legit.

I second that advise. I say the same thing but in my case my two daughters. It's good to soften their hearts with us involving our kids, but I'd be careful about talking about silver. Recently two tellers told me about pre 64 coins having silver and I acted surprised. Play the game but it's best to tell the truth so you don't get caught in a lie.
 

Top Member Reactions

Users who are viewing this thread

Back
Top Bottom