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beerdoodle
Penny Sorter Member
USA
28 Posts |
 Posted - 08/14/2009 : 11:11:34
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City National Bank (where I bank), informed me today they are implementing a 10 cent per roll fee. This will make a box cost 30 bucks. I am a small-time hand sorter. Maybe 3 boxes a month and occasionally pick up a few rolls here and there. I have been getting 24-28% return. Should I continue, or look around? This could be a heads up to all if this catches on at other banks, as I am sure it will. Thoughts?
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I am really getting good at barely getting by |
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Country
1000+ Penny Miser Member
USA
3121 Posts |
Posted - 08/14/2009 : 11:15:10
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Time to find another bank. A $30 a box fee is much too much. Was it a teller that told you the bank would charge fees? Talk to the bank manager. Tell that person that you will close your account and go to another bank if they persist in charging you these fees.
If you are a good customer, there should be plenty of other banks that will meet your needs. Most areas have many different banks to choose and there is a lot of competition. Some banks are fussy, but many others want to keep their customers happy.
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---> Come to the new and improved realcent: http://realcent.org
The things that will destroy America are prosperity-at-any-price, peace-at-any-price, safety-first instead of duty-first, the love of soft living, and the get-rich-quick theory of life.
– Theodore Roosevelt
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Edited by - Country on 08/14/2009 11:20:01 |
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dakota1955
1000+ Penny Miser Member
2212 Posts |
Posted - 08/14/2009 : 11:45:51
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| I would go looking for a new bank and ake tha bank a dump bank if you could. |
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coppernickel
Penny Pincher Member
USA
131 Posts |
Posted - 08/14/2009 : 11:48:46
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| I keep it small. Unless the bank already has a large distribution of coins I only get a few at a time. $5-10 keeps me under the radar. |
Silver Monometalism is the most permanent and stable form of money the world has seen. Natural law and history prove silver value is best multiplied by gold and best divided by copper. It is only in this counterfeit currency time when the natural law appears suspended. |
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Neckro
1000+ Penny Miser Member
Saudi Arabia
2080 Posts |
Posted - 08/14/2009 : 11:57:09
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| Just find another bank. Any bank that charges for rolls isn't worth the time. |
Trolling is an art. |
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Ant
Penny Hoarding Member
USA
894 Posts |
Posted - 08/14/2009 : 12:19:24
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You only sdrt a box a week, just like me. That's nothing to a bank. They're just trying to yank your chain. I wonder if this is a bank-wide policy, or something they just dreamed up at that particular branch. I know that a lot of branch managers are under a lot of pressure these days to increase revenue, and the easiest way for them to do that is through fees.
Whatever the reason, looks like you've got yourself a new dump bank. 
There are lots of banks out there that don't mind setting aside a box a week for a customer. Life's too short to haggle with cranky tellers. 
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Lovely dimes, the liveliest coin, the one that really jingles. --Truman Capote
Coins are the metallic footprints of the history of nations. --William H. Woodin |
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beerdoodle
Penny Sorter Member
USA
28 Posts |
Posted - 08/14/2009 : 12:49:55
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| Well let me ask this question then. A lot of banks charge you a fee to just cash a check their using a valid ID. Can you just walk in a bank and buy a box without any hassle? There are plenty around within 3 miles. I really don,t wanna go thru the hassle of opening a new account being doing this on a really limited basis. |
I am really getting good at barely getting by |
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Country
1000+ Penny Miser Member
USA
3121 Posts |
Posted - 08/14/2009 : 13:14:50
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| Many banks will want you to have an account with them to order coins. If you are content going into a bank and asking for the rolls they have on hand, you don't need a new account probably. However, if you want to build a relationship with the head teller to order coins for you on a consistent basis, I suggest you open an account with them. It's no big deal to open an account with a bank. It takes only a few minutes. It will be very rewarding to you as you can get as many boxes of coins as you want. |
---> Come to the new and improved realcent: http://realcent.org
The things that will destroy America are prosperity-at-any-price, peace-at-any-price, safety-first instead of duty-first, the love of soft living, and the get-rich-quick theory of life.
– Theodore Roosevelt
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fb101
Administrator
USA
2856 Posts |
Posted - 08/14/2009 : 16:51:39
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| Time for a new bank. The old bank becomes the dump bank. |
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coinwolf
Penny Collector Member
USA
277 Posts |
Posted - 08/14/2009 : 17:03:15
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My opinions been said but I'll say it again FIND A NEW BANK AND DUMP AT THIS BANK!
ps make sure you take 1 of the free lollypops each time you dump. |
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NotABigDeal
1000+ Penny Miser Member
USA
3890 Posts |
Posted - 08/14/2009 : 17:09:21
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As already mentioned, you have a new dump bank. Opening several accounts is not a problem. Sometimes you even get free stuff, sometimes money. You numbers are small time, you should have few if any problems.
Deal |
Live free or die.
Plain and simple.
"If you love wealth more than liberty, the tranquility of servitude better than the animating contest of freedom, depart from us in peace. We ask not your council or your arms. Crouch down and lick the hand that feeds you. May your chains rest lightly upon you and may posterity forget that you were our countrymen."
- Samuel Adams |
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biglouddrunk
Penny Pincher Member
138 Posts |
Posted - 08/15/2009 : 02:04:27
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| If you are looking to start sorting more coins this might be a good opportunity to switch banks. When scouting for a new bank before opening an account inform them that you will need to order a lot of pennies per week. Most banks will do anything to get a new customer. So if in the future your new bank give you problems you can always say that you discussed this before opening your account. |
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dp2007
Penny Pincher Member
130 Posts |
Posted - 08/15/2009 : 07:37:15
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| Do not pay a fee and make sure City National gets plenty of cents in the future (dumps). |
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dp2007
Penny Pincher Member
130 Posts |
Posted - 08/15/2009 : 07:43:54
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| You do not always need an account to get rolls especially on a small scale. RBC and BB&T will give me 20 rolls at a time no questions asked. But I keep it low key and only occassionally. On the rare occasion when the tellers asks if I have an account I'll say yes. I don't normally fib but I know the teller doesn't care but has to ask when her boss is watching. |
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Copper Catcher
Administrator
USA
2092 Posts |
Posted - 08/15/2009 : 12:00:01
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Ask if they are charging this roll fee to everyone uniformly that gets rolls of coins at the bank. If not, ask them why they are discriminating against you and ask to speak the manager to see where he stands. If they persist then write a letter to the editor to your newspaper asking why a bank is charging extra money to make change.
:-) Just a thought..... hehehehe
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beerdoodle
Penny Sorter Member
USA
28 Posts |
Posted - 08/15/2009 : 13:12:56
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quote:
Originally posted by Copper Catcher
Ask if they are charging this roll fee to everyone uniformly that gets rolls of coins at the bank. If not, ask them why they are discriminating against you and ask to speak the manager to see where he stands. If they persist then write a letter to the editor to your newspaper asking why a bank is charging extra money to make change.
:-) Just a thought..... hehehehe
I was gonna do just that Monday. I have since found a credit union that will sell me for face. They have a coin counter machine in their lobby, so may have potential for better finds. But am indeed gonna find out if the bank is trying to "gouge" me. Thanks for all the input, everyone.........toodles drom doodle............ |
I am really getting good at barely getting by |
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HoardCopperByTheTon
Administrator
USA
6807 Posts |
Posted - 08/15/2009 : 14:47:53
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It is a business decision by that particular bank. Sometimes it is a branch by branch decision, sometimes it is a corporate decision and is forced onto the local branches. What they are saying is they really don't want your action, and that they want to nickel and dime you to add to their bottom line. After you convert them to a dump bank they will probably come back to you in a few months and tell you now there is a fee to deposit rolls. This is why there is a bank on every corner.. if one doesn't treat you right, you just walk across the street and do business with their competition. I hear the "f" word all the time, but I have never paid a fee. You can get enough CWR at benks you have accounts at and ones you don't have accounts at to support your habit without preordering. You might also check with that new CU to see if they will sell you the bags of pennies. Sometimes they can do it, sometimes they have a policy that they must ship the bags, or the coin machine is handled by a third party. It never hurts to ask. Heck, I even get an occasional 24 box order from a bank I don't even have an account at.
I would be willing to pay that $5 fee per box if they could guarantee me shiny new boxes of lp3's. I would also be more than willing to provide them rolled coin for 5 cents per roll if they can sell it for a dime.  |
If your percentages are low.. just sort more. If your percentages are high.. just sort more.
Now selling Copper pennies. 1.6x plus shipping. Limited amounts available. |
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Opinions please.
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