| Author |
 Topic  |
|
|
Nickelless
Administrator
USA
5580 Posts |
|
|
eharrison
Penny Pincher Member
USA
234 Posts |
Posted - 05/24/2008 : 03:41:29
|
| My primary dump bank is Wachovia, and I use any and all branches for my dumps. Having multiple branches is handy IMO because (personal story) I had been making $20-$30 zink deposites multiple times a week at the nearest branch and when they ran out of penny containers to keep them in I was able to go right down the road to another branch. |
Freedom is popular
That's why I voted
Ron Paul! |
 |
|
|
jpf231
Penny Collector Member
USA
340 Posts |
Posted - 05/25/2008 : 07:31:23
|
| My dump bank is Commerce Bank - I dump 2-3 hundred each week at 3-4 branches. |
|
|
|
Nickelless
Administrator
USA
5580 Posts |
|
|
WilliamC
Penny Collector Member
USA
471 Posts |
Posted - 05/26/2008 : 07:00:48
|
Do some phone work. Call around and tell them you are specifically looking for a bank where you can dump whatever volume of zinc you need, and ask them if they will accept bagged pennies that they will send off for exact counting. Ask them what sort of minimum balance they would like you to leave in the checking account so as to let you dump your pennies.
Buy the plastic coin bags, I get 100 for ~$45 including shipping. I only weigh in about $25 per bag, or between 13.6 and 13.8 lbs on my postal scales. It is far simpler and faster than it takes me to break open the rolls myself. Tomorrow I'll take 20 bags or $500 into dump. If I need to I can do the same Friday.
There are lots of banks, and if you are straight with them about what you are doing you should be able to find one that will work with you. I label the plastic bags with my name and account number and place them right next to the door of their vault. They have to move the bags into the vault, I figure 13.8 pounds isn't too heavy for the tellers, then the Loomis truck comes to take them.
I actually had one of the Loomis drivers hold the door for me one day as I was bringing in 4 bags of pennies. He asked if I was the person who made him have all the work of carrying the bags. I said yes that was me and he said "Well I'm glad I've got my gun with me". He had me at a disadvantage too since my hands were full!
I deposit the bags as being $25, and 13.6 to 13.8 pounds will be between $24.70 to $25.07 since all the pennies are zinc. I know the bank has to do a bit of paper work for the bags, but aside from that they are trucked to the Fed Bank in Memphis where they are counted and then my account is adjusted to match the exact count.
I keep about $100 in the account (although it's below that now) and wouldn't mind keeping even a bit higher balance if the bank felt they needed that to be compensated for dealing with the pennies. I'm sure the tellers think it's a bit odd and have to do more work than usual, but after all I am in a BANK and I am dealing with LEGAL MONEY, so I don't feel the tellers or the branch managers need to feel too put upon by me.
Just shop around, there are lots of banks, and one of them will be happy to work with you if you explain what you are doing. Some of them are still in the customer service business, you just have to find them. |
Sorting In Northwest Mississippi |
|
|
| |
Topic |
|
Dumping zincs at different branches of same bank
Forum Locked
Posted - 05/23/2008 : 18:54:36
