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fiatboy
Administrator
912 Posts |
 Posted - 01/23/2008 : 11:06:52
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quote:
I USED TO WORK FOR A BANK!
BUT I GOT FIRED FOR LOSING INTEREST!
 hahaha. That's so lame it's funny. |
"Bart, it's not about how many stocks you have, it's about how much copper wire you can get out of the building." --- Homer Simpson |
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HoardCopperByTheTon
Administrator
USA
6807 Posts |
Posted - 01/23/2008 : 12:21:32
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I still do the direct deposit thing.. it is convenient and is often a requirement to avoid getting any bank fees. But I do tap the ATM and move cash from bank to bank. Making cash deposits at a bank has pretty much the same affect as bringing in your paycheck. I used to have to take my paycheck in, because it was too little to go by itself.
There are still plenty of tellers who are not jerks.. I just got a call from one of my banks telling me they have gotten a lot of pennies in and they are holding them for me if I would like to stop by and pick them up. I love those calls! |
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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Art Tatum
Penny Collector Member
USA
400 Posts |
Posted - 01/27/2008 : 18:08:51
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| my sister in law told me that! She worked at Wells Fargo for almost 45 years! |
my machine is running! |
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n/a
deleted
16 Posts |
Posted - 02/07/2008 : 08:09:35
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| Talk about being shut down, I went into the bank today to order up another load of pennies (10 boxes) and the teller told me that he couldn't give me any more, not even if I paid the fees to have them brought in. This after they told me the last time that as long as I stayed under $5000/month there wouldn't be any fees. The big mistake? When the guy asked me why I wanted so many pennies, I gave up a little bit too much information. Apparently they don't like the idea of being a supplier of "raw material" for a copper mine. |
Edited by - n/a on 02/07/2008 08:12:12 |
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MaDeuce
Penny Pincher Member
USA
124 Posts |
Posted - 02/07/2008 : 09:29:50
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quote:
Originally posted by coppercoppercopper
Talk about being shut down, I went into the bank today to order up another load of pennies (10 boxes) and the teller told me that he couldn't give me any more, not even if I paid the fees to have them brought in. This after they told me the last time that as long as I stayed under $5000/month there wouldn't be any fees. The big mistake? When the guy asked me why I wanted so many pennies, I gave up a little bit too much information. Apparently they don't like the idea of being a supplier of "raw material" for a copper mine.
I have a few thoughts on this... The first is that tellers don't make bank policy. If a teller is unreasonable (like this), then go talk to the bank manager.
You should always hold your head high and be confident. And you don't have to explain to anyone why you want YOUR money in the manner you want it. More than once, I have said to a teller, "I'm sorry, I did not know that I had to explain to you what I'm doing with my money, nor did I know that I needed your approval to withdraw it."
I'm not at all talking about being rude. Quite the contrary. I try to be as polite, respectful, and pleasant as I can be, with everyone (not just snooty bank tellers). You can be confident, firm, and polite all at the same time.
You may choose to share with the bank manager why you have an interest in pennies. If you do this, I would recommend a carefully crafted, benign story, which is in fact true.
As far as I know, the banks can't refuse to give you your money in the form that you want it. Now, at some point, they may tell you that they can't deliver that quantity of coins through their branch or bank lobby, and that you will need to start using an armored car service. There's not much you can do about that, other than to sign on with an armored car service.
The bottom line is -- don't go in with your tail between your legs or in an apologetic mode -- go in and transact your business in a manner that demonstrates you think what you are doing is the most normal thing in the world. You CAN work it out, I promise.
Ma |
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fiatboy
Administrator
912 Posts |
Posted - 02/07/2008 : 09:39:59
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Sorry to hear about that, coppercoppercopper. I hope that never happens to me.
MaDeuce, that's some fantastic advice. I can't think of anything to add except don't be afraid to ask to "see it in writing." And if they make promises, don't be afraid to "get it in writing." Keep 'em honest, and be polite while doing so. |
"Bart, it's not about how many stocks you have, it's about how much copper wire you can get out of the building." --- Homer Simpson |
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HoardCopperByTheTon
Administrator
USA
6807 Posts |
Posted - 02/07/2008 : 11:34:51
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| This is why there is a bank on every corner. If one doesn't treat you right, you just walk across the street. This sort of thing will happen to all of us. Face it.. banker's are greedy. At some point they start to see providing pennies to us as a cost to them rather than a courtesy to a good customer. They are always trying to trim their costs and bump up that bottom line. This is why I try to have several source banks. Some are going to wither on the vine at some point. One of my source banks started a new corporate policy a few months ago. Now they don't allow any coin ordering from the branches. Corporate decides what they will send them and that is all they get. I still get their customer wrapped pennies, but no weekly shipments of 24 boxes anymore. Another one of my banks just pulled something similar to what happened to coppercoppercopper. Originally I was able to get coins from them weekly.. then it was monthly.. then 6 months ago they told me they could only order coins for me once per quarter. I got one order 3 months ago. When I put in my standard order for 12 boxes last week the coin lady said she had to check with the manager. A few days later I get a phone call from the coin lady. She tells me they can get them for me but that the manager told her she has to charge me $4.25 per box. I am not paying $51 for a small order of pennies! I told her I would pass and to close my accounts. She said I have to come into the branch to close my accounts. You would think this particular bank would treat me better since I have influence on whether we keep our corporate accounts with millions of dollars at that bank or move them to another. After thinking about it, I might not close my accounts.. I might just take them down to $1 each and let them send me statements every month. Maybe I will deposit a roll of zinc pennies every time I happen to be near that branch. When a bank cuts you off you have 3 choices.. Close your account and walk, take all your money out except a miniscule amount, or make them one of your dump banks! If I had credit cards or lines of credit with any bank that did this to me I would certainly move that business to one of my other banks that treats me better. Also, whenever I get asked about what I am doing with all the pennies I get I just tell them I am a collector and I like going through them and keeping the "good" ones. It is certainly the truth. You don't want them to think you are making any money or they will start trying to figure on how they can get some of it for themselves. |
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. |
Edited by - HoardCopperByTheTon on 02/07/2008 11:38:11 |
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PennyProspector
Penny Pincher Member
USA
212 Posts |
Posted - 02/07/2008 : 21:07:37
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quote:
[i] Also, whenever I get asked about what I am doing with all the pennies I get I just tell them I am a collector and I like going through them and keeping the "good" ones.
Exactly what I tell them!
I sometimes through in that my daughter got the coin collector bug from me and we spend are private time together sorting them, she just love it.
All true!!! my 7 year old loves the treasure hunt and the more we can pound through the more treasure she finds!
I feel this is a natural extention of my coin collecting, however, many bank tellers feel dirty helping you "prospect" for copper but are happy to help the "crazy penny man" that collects coins. |
Happy Prospecting! |
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Cody8404
Penny Hoarding Member
USA
602 Posts |
Posted - 02/08/2008 : 01:47:12
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Just remember to always be nice. You don't want to become a concern and have a misunderstanding with a bank. We are already enough on the Government’s watch list. None of us want to give them any reason at all to watch us more closely.
We need to keep it very clear that we are loyal U.S Citizens and that we are loyal to the U.S. Constitution. The current leadership of the government is not the Constitution.
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Awake, O kings of the earth! Come ye, O, come ye, with your gold and your silver, to the help of my people, to the house of the daughters of Zion, to the help of the people of the God of this Land even Jesus Christ. |
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n/a
deleted
16 Posts |
Posted - 02/08/2008 : 08:22:26
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The bank might have had a problem if some of the tellers decided that they, too, wanted to sort for copper pennies that they could sell on ebay.
Someone suggested saying that the pennies are for paying taxes, got me thinking that the zincs could be used for that to make it true (would keep them from coming back to you after dumping them).. but then the hassle of being audited on a regular basis might crop up.
Maybe just being that crazy penny collector is best for the next attempt. |
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starwarsgeek171
Penny Hoarding Member
USA
651 Posts |
Posted - 02/08/2008 : 15:05:48
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| Taking the advice of the senior members on this forum has turned me into a believer. If one bank treats you poorly, simply walk across the street to another. My buying bank knows me by sight now, and the head teller will order me as many pennies as I can afford. In addition, my newly acquired dump bank sees me as sort of a comic relief to their day, and the manager has assured me that I'm not bugging him with my zinc returns/bag changes. There are many bankers out there who are NOT jerks. |
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HoardCopperByTheTon
Administrator
USA
6807 Posts |
Posted - 02/08/2008 : 15:36:18
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I agree with you that many bank employees are not jerks. There are several that I deal with on a weekly basis that I really enjoy dealing with. I dropped off one of those net bags filled with chocolate coins when I picked up 24 boxes at one of my regular banks last Saturday.
Yesterday I heard a disturbing thing though. I was dropping off a couple of bags of zinc at one of my banks near work to get a little lunch money. I normally drop off a couple of bags at this branch once or twice a week. Never any problems.. the coin lady is always friendly to me. Sometimes I pick up a box or 2 of pennies or nickels there, but they usually don't have a lot of spare ones to sell me so I mainly use it as a small dump bank. The coin lady knows I am a collector and showed me 3 coins she had received there and wanted to know the values on.. a Buffalo nickel, a mercury dime, and a Franklin half dollar. Obviously she was going to keep them for herself so I told her honestly what they were worth. I may even bring in a few holders for her coins. I don't mind sharing this hobby with others, but I guess I won't be wanting to get a lot of dime or half dollar rolls from this branch. The thing she told me that was disturbing is that they never have enough coins now. She said that Corporate had recently announced that they would determine how much coin they needed and ship it to them. The branches aren't allowed to order coins! This is the second major bank of mine that has had this happen recently. Obviously it does not bode well for us penny sorters. If the branches cannot order coin it means they will not be able to get regular orders of pennies for us to go through and they will be much less willing to give up the few boxes they have. I hope this is not the start of a new trend in banking. |
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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El Dee
Penny Hoarding Member
USA
547 Posts |
Posted - 02/08/2008 : 15:41:57
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Sounds like a looming disaster for that bank's commercial customers.
What bank company is it? |
Trust the government? Ask an Indian. |
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Epaphras
Penny Collector Member
USA
382 Posts |
Posted - 02/08/2008 : 16:41:31
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| If not being able to order pennies happens to my source bank, I may have to resort to rolling the zincs and trading for customer rolls like I did extensively in the past. I have not heard of this in my area, however. |
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HoardCopperByTheTon
Administrator
USA
6807 Posts |
Posted - 02/08/2008 : 17:00:28
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The 2 so far have been Washington Mutual and Bank of America. Not sure if it is a bankwide thing or just that corporate has decided to do this on a branch by branch basis. A little worried since another branck of BofA is one of my regular source banks. I will be a nice guy and roll up a few spare boxes with the machines and provide them to them when they are short. Might be a chance to get in really good with some of my banks by saving thier bacon. Will also roll up several boxes of zinc to use as traders.
This is where it pays to spread your action across several source banks. If it happens at a particular bank you still have plenty of pennies coming in from your other banks. |
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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TenBears
1000+ Penny Miser Member
USA
1021 Posts |
Posted - 02/08/2008 : 17:19:25
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[quote]Originally posted by cyberdan
Here is what I have had to say twice because of a lazy or rude teller. I went to the manager to say this.
"I just want to let you know I am shopping for a new bank. I just bought a new house on such&such street and want a bank close to my home. I have a hobby of collecting coins so I asked one of your tellers if I could buy some coins. I was not happy with the way she responded to my request. This was a test to see what kind of customer service I could expect."
and then I thanked the mgr and left. I would not elaborate.
That is funny. I like this approach very much. |
"Rich," the Old Man said dreamily, "is not baying after what you can't have. Rich is having the time to do what you want to do. Rich is a little whiskey to drink and some food to eat and a roof over your head and a fish pole and a boat and a gun and a dollar for a box of shells. Rich is not owing any money to anybody, and not spending what you haven't got." Robert Ruark
there are too wild Indians...
there are too wild Indians...
there are too wild Indians...-----still taunted
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NiBullionCu
Penny Pincher Member
USA
168 Posts |
Posted - 02/08/2008 : 18:47:21
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quote:
I might just take them down to $1
Be careful if they have a minimum balance policy.
Some banks state there is no minimum balance required, but any balance below a certain amount may incur a monthly "service" fee.
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starwarsgeek171
Penny Hoarding Member
USA
651 Posts |
Posted - 02/08/2008 : 19:54:38
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"Be careful if they have a minimum balance policy.
Some banks state there is no minimum balance required, but any balance below a certain amount may incur a monthly 'service' fee."
Very good advice! |
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n/a
deleted
16 Posts |
Posted - 02/08/2008 : 22:33:06
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quote:
Originally posted by NiBullionCu
quote:
I might just take them down to $1
Be careful if they have a minimum balance policy.
Some banks state there is no minimum balance required, but any balance below a certain amount may incur a monthly "service" fee.
Additionally, I heard that if the balance goes negative (because of service fees, for example), some other banks will find out about it and prevent you from opening a new account until the first bank gets squared. Seems almost like a credit report.
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HoardCopperByTheTon
Administrator
USA
6807 Posts |
Posted - 02/09/2008 : 11:58:59
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I always make sure there are no minimum balance requirements and no service fees when I open a new account. I probably only have $5 in there now. Maybe that's why they hate me.. LOL.
I wonder if the banks report to each other about customers that turn in lots of coins.. "Don't let this guy open an account at your bank.. the SOB brings in hundreds of dollars worth of pennies every week!!!" |
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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wheatcent
Penny Sorter Member
USA
26 Posts |
Posted - 02/16/2008 : 11:53:26
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| I have never had problems before and hope to not have any. |
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cyberdan
Penny Collector Member
USA
289 Posts |
Posted - 02/18/2008 : 10:48:41
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quote:
Originally posted by HoardCopperByTheTonI wonder if the banks report to each other about customers that turn in lots of coins..
On one of the boards I am on somebody said they went into a bank to open an account and the new accounts teller questioned this person as to why he had so many accounts around town.
Can anyone confirm or deny?
If this is true it looks like banks belong to some kind of reporting agency that monitors everybody to weed out deadbeats , bad check writers and worst of all penny hoarders . |
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Cody8404
Penny Hoarding Member
USA
602 Posts |
Posted - 02/18/2008 : 10:57:10
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| Your open and closed accounts are part of your credit score. |
Awake, O kings of the earth! Come ye, O, come ye, with your gold and your silver, to the help of my people, to the house of the daughters of Zion, to the help of the people of the God of this Land even Jesus Christ. |
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fiatboy
Administrator
912 Posts |
Posted - 02/18/2008 : 10:57:58
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quote:
If this is true it looks like banks belong to some kind of reporting agency that monitors everybody to weed out deadbeats, bad check writers and worst of all penny hoarders.
This is probably Chex Systems. I doubt they keep track of penny hoarders, but they do allow banks to share information about check kiting, credit scores, etc. They're notorious for making mistakes.
You must be logged in to see this link. |
"Bart, it's not about how many stocks you have, it's about how much copper wire you can get out of the building." --- Homer Simpson |
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HoardCopperByTheTon
Administrator
USA
6807 Posts |
Posted - 02/18/2008 : 11:51:08
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| Does having a lot of accounts increase or decrease your credit score? Does closing an account negatively impact your score? |
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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Bank Jerks!
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