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BamaJoe
Penny Sorter Member
86 Posts |
 Posted - 04/24/2010 : 20:46:16
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Most of you probably know this this, but I thought I would pass it along in case a few of you don't.
When dumping and your coins are rolled, the bank MUST take them if you are depositing them in your account. They are legal tender and can not be turned down.
The bank can no longer require you to spend time writing your name and account number on the rolls you deposit. The recent changes to the privacy laws prohibit it. However if you are not depositing them they do have the right to refuse them.
There are tellers who are still out there who get an attitude and try to make you spend time doing it, but if that happens simple say that your would like to speak to the manager to make a complaint concerning a violation of the privacy laws and they tend to become much more reasonable.
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Ardent Listener
Administrator
USA
4841 Posts |
Posted - 04/24/2010 : 21:05:17
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| Powerful post there Joe. Thank you for it. Yes they are legal tender but I would be sure no Canadian coins were in the mix if push came to shove. |
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Think positive. |
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wheeler_dealer
Penny Collector Member
USA
402 Posts |
Posted - 04/26/2010 : 17:47:28
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Bama Joe,
Welcome. Thanks for the info. This must be your dump bank. I can be forceful when necessary however I personally would want to be cooperative with the tellers if this were a source bank. Is this policy in effect for credit unions as well. My credit union makes me put my account number on my rolls I deposit. They claim to not resell them rather they count and reroll, so they say.
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PreservingThePast
1000+ Penny Miser Member
USA
1572 Posts |
Posted - 04/26/2010 : 17:53:11
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quote:
Originally posted by wheeler_dealer
Bama Joe,
Welcome. Thanks for the info. This must be your dump bank. I can be forceful when necessary however I personally would want to be cooperative with the tellers if this were a source bank. Is this policy in effect for credit unions as well. My credit union makes me put my account number on my rolls I deposit. They claim to not resell them rather they count and reroll, so they say.
I also get rolls of coins from the credit union I belong to. They have to carefully look over each roll before they can give it to me and if there happens to be a name/phone number/account number on the wrapper they must blacken it out with a permanent market.
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NDFARMER
1000+ Penny Miser Member
USA
1197 Posts |
Posted - 04/26/2010 : 17:54:21
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| The banks I deal with have no problem taking coin but they will not take them rolled. If I were to bring in any rolls they have to stand there and break them open and dump them in the counting machine. So I just bring them in by the bag full which is better anyway. |
COPPER - the "poormans" precious metal!!!
SELLING - $100.00 face copper shipped to you for $189.00 machine rolled or bagged - PM me if your interested. |
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Kurr
1000+ Penny Miser Member
2906 Posts |
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Robarons
Penny Hoarding Member
USA
522 Posts |
Posted - 04/26/2010 : 18:21:59
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Be careful though, that yes they must accept them, they do have the right to refuse your service or terminate your account at given time, if they are in the account rules/contract. You could say "heres $200 in pennies, deal with it" and after words they might decline your business.
Also the law is kinda sticky- they must accept it however can a fee be attached- they are still accepting it. |
Robber Baron= Robarons |
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Kurr
1000+ Penny Miser Member
2906 Posts |
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jonflyfish
Penny Hoarding Member
USA
693 Posts |
Posted - 04/26/2010 : 20:02:10
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This last weekend I had 28 bags of zincolns to deposit. In usual fashion I wheeled in seven bags to the first branch then seven to the next common dump branch. Instead of hitting the third scheduled branch on the reverse bank heist route, I went to a new location and wheeled seven bags in. The instant I entered the bank, the branch manager came hustling over and began chatting very loudly about OMG! look at all these coins!!! etc. I was thinking "oh, geez, should have stayed on track with the usual route".
We began chatting and I was explaining how there were several deposits of the same today with other branches and I still needed to run out to the last. She explained that there was no need to go anywhere else and that they would be delighted to have the full remaining deposit. The tellers were all very eager to help with the cart etc. I think I just found some best new friends. Next week they will not only get more coins but some white chocolate chip macadamia nut cookies. they had that certain look that some delicious cookies would earn "Elite Platinum Premier Dumper" status with them. |
The first panacea for a mismanaged nation is inflation of the currency; second is war. Both bring a temporary (and false) prosperity; both bring a permanent ruin. But both are the refuge of political and economic opportunities. |
Edited by - jonflyfish on 04/26/2010 20:06:00 |
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JobIII
1000+ Penny Miser Member
USA
1507 Posts |
Posted - 04/26/2010 : 20:09:00
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i stay away from getting into negative anything. Last week i was a little stressed around a pick-up and kindof over reacted. I'm going to stay away from that bank now for a while. Karma comes around hard if you're not careful. And in this game you really need to be pleasant or you'll find your self struggling to locate pick-up or dump banks.
So Don't worry be happy!  |
Selling Copper cents. $0 FV available at 1.4xFV. Also interested in trading for wheat pennies and other coins Please pm me for requests or inquiries.
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NDFARMER
1000+ Penny Miser Member
USA
1197 Posts |
Posted - 04/26/2010 : 21:48:39
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| Jonflyfish this sounds great now I have had the same reception at a couple of banks but after you dump those 10 - 15 bags on them for 6 - 8 weeks straight we'll see how glad they are to see you then. It seems like after a few months I kind of wear out my welcome and they aren't as happy to see me. |
COPPER - the "poormans" precious metal!!!
SELLING - $100.00 face copper shipped to you for $189.00 machine rolled or bagged - PM me if your interested. |
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Bank harassment while dumping
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