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jadedragon
Administrator
Canada
3788 Posts |
 Posted - 07/25/2008 : 00:07:10
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I opened a Bank of America account but forgot to ask if I have to roll my pennies. Does anyone know the Bank of America policy? I either need to roll them up tonight to dump tomorrow, or not roll, so I can't just wait to call them in the AM. Also if there is a general policy that allows loose, I'd like to be able to tell them about it rather then be subject to potentially incorrect info from a teller.
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“The reasonable man adapts himself to the world; the unreasonable one persists in trying to adapt the world to himself. Therefore all progress depends on the unreasonable man.” – George Bernard Shaw.
Why Copper Bullion ~~~ Interview with Silver Bullion Producer Market Harmony
Passive Income blog |
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Bluegill
1000+ Penny Miser Member
USA
1964 Posts |
Posted - 07/25/2008 : 07:20:53
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It can vary. 2 branches in my area has changed their policy twice already this year. In my area they are wanting them rolled now.
The coin counter/sorter that could sort the Cu from the Zn that was the topic of a thread a while back has disappeared from my area.
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Neckro
1000+ Penny Miser Member
Saudi Arabia
2080 Posts |
Posted - 07/25/2008 : 11:04:57
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| Check with your local main branch and ask them for coin bags, and how to use them at their location, if you're doing pennies, the max amount is 50bucks per bag. |
Trolling is an art. |
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misteroman
Administrator
USA
2565 Posts |
Posted - 07/25/2008 : 11:18:11
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| Gasp,How could you forget such an important ? when opening an account? |
Buying CU cents!!!! Paying 1.2 unlimited amounts wanted. Can pick up if near Ohio area. |
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penny4mythoughts
Penny Sorter Member
USA
82 Posts |
Posted - 07/25/2008 : 13:00:55
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BoA's general policy, from my bud that worked there, is that they take loose coin in bank-bags (the plastic ones
) provided you know how much is in it. they document that, send it off to the "vault" for counting, and then adjust your account if the count is wrong. Obviously, check with your branch, but that is the overall skinny :) |
Los Angeles is the place I call home... |
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jadedragon
Administrator
Canada
3788 Posts |
Posted - 07/25/2008 : 14:24:37
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Thanks guys. I called the branch and they said the coin needs to be rolled :( They do not have a counter (small branch). I'm going to investigate this further with a larger branch. At least I can dump my US dimes and 1/2s
accumulated in Canada.
I have more and better coin handling equipment then every bank branch I know now... and getting more all the time. Now if I could just find a good high speed coin roller. |
“The reasonable man adapts himself to the world; the unreasonable one persists in trying to adapt the world to himself. Therefore all progress depends on the unreasonable man.” – George Bernard Shaw.
Why Copper Bullion ~~~ Interview with Silver Bullion Producer Market Harmony
Passive Income blog |
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HoardCopperByTheTon
Administrator
USA
6807 Posts |
Posted - 07/25/2008 : 14:56:00
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None of the BofA's near me have any type of coin counting equipment. I have way better equipment than all of my banks too, including a couple of high speed coin rollers. All of the BofA branches I have dealt with will take my coin loose in the bag and send it to their central vault for counting. Each branch's policy varies on when they will credit my account. Most branches credit my account immediately or pay me in cash, but one branch will take the bags "subject to verification" and credit my account about a week later after they have counted them.  Those automatic coin rollers are kind of handy. All my other banks require coin to be rolled to be deposited. |
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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Lemon Thrower
1000+ Penny Miser Member
USA
1588 Posts |
Posted - 07/27/2008 : 08:02:58
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a lot of the mega branches do not have bank-wide policies. rather, they are set at the branch. your answer depends on who you ask.
start with the largest branch in your town that typically serves a lot of commercial accounts. they are used to accepting coin. ask to speak to the head teller or vault manager. go at a slow time - if you go during or after lunch they will be stressed and say no.
all of this simply increases your odds. no guarantee any bank will accept them. i believe they charge commercial accounts a decent percentage for this service. coins are a huge PIA for branches. |
Buying:
Peace/Morgan G+ at $15.00
copper cents at 1.3X
wheat pennies at 3X
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Will Bank of America accept loose pennies?
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