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Epaphras
Penny Collector Member
USA
382 Posts |
 Posted - 11/28/2008 : 22:59:44
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On November 25, I went to make a $50 deposit in halves and cash the remaining halves and pennies I had (I had $487 total: $400 in halves and $7 in pennies). I go to one of the teller’s window and start taking out the rolled coins. The teller counts 2 or 3 times the 6 rolls I was able to lay down then asks the assistant-head teller what the “rules” where on rolled coins (she is not a new teller and she I received rolled coins from me before with no need of assistance). I hear the assistant-head murmur ‘no’ then she comes to the teller’s window and in a disgruntled voice tells me that they could not take my halves because “I did not get them from their bank”. She asks where I got them from and I say my main bank. The assistant head then says you go back to the bank where you got them; we cannot take them. She then said we can take the $7 in pennies because you got pennies from us (she is Middle Eastern). She continued and said if I had a problem I could talk to the manager. I put my coins back in my box ask for an account balance and leave (I left the deposit slip as well). This is not the first time I cash in and/or made a deposit with coins. On the contrary, it is about a weekly routine.
I am irate with this prominent bank, but even more so with this assistant-head teller.
1. I have been cashing and depositing coinage for months at this bank and now all of a sudden there some rules concerning receiving coinage. There were no previous warnings of limiting the amount of coinage I brought in at once.
2. The assistant-head teller did not even consider that, not only was I cashing in the coinage, but also depositing my weekly $50 deposit into her place of employment. She made no attempt to get me to make my deposit.
3. Her statements were clearly an affront and discriminatory to me and my hobby and her distaste therefore. If I was I vender or a coinage carwash owner, she would not have made those remarks and coinage would be no issue.
4. In the previous week attempting to order coinage from this bank, again, the assistant head teller (who orders coinage) not only tried to discourage me in saying there was a charge, but when “forced” to, she did an incomplete order (instead of 24 boxes she orders 10).
5. In correlation with my previous point, there was no communication to in form me that she did not order 24 boxes but only 10. Neither was there any sound reason given why only less than half of my order was placed.
6. Prior to this time, there were no ‘rules’ of “If I got the coins from somewhere else that I could not do business with this bank concerning those coins”.
So, I plan on closing this account and expressing my distaste of the recent treatment. BTW I was so upset went I left, I went to my primary savings account and put most of it into this bank so when I do close the account, they 1) see what they could have had and 2) no single teller will have that amount of cash on hand (hopefully).
Any other ideas, thoughts, comments?
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fb101
Administrator
USA
2856 Posts |
Posted - 11/28/2008 : 23:22:40
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I second your actions.
"I need to close my account because you refuse to allow me to make deposits."
Better yet, find a news person and take them with you and have them witness this bank refusing
to take cash deposits. That will sure make the 6 O'clock news.
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Kurr
1000+ Penny Miser Member
2906 Posts |
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simplicitycounts
Penny Hoarding Member
USA
535 Posts |
Posted - 11/28/2008 : 23:51:45
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| Use them to pay your mortgate. No lending institution can turn down a payment no matter how small or large to pay off debt. |
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HoardCopperByTheTon
Administrator
USA
6807 Posts |
Posted - 11/29/2008 : 00:55:40
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I have done that.. paid the mortgage with halves and pennies. 
It happens to all of us. I think I hold the board records for most banks cutting off my orders, most banks refusing my coin deposits, and most talks with "the manager."
Don't let it get you down. This is the reason there is a bank on every corner.. if one bank doesn't treat you right, just walk across the street.
Remember.. "Illegitimus non carborendum." |
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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NotABigDeal
1000+ Penny Miser Member
USA
3890 Posts |
Posted - 11/29/2008 : 10:02:45
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Transfer a large amount into your account. Go in and see the branch manager, not a teller. Ask the manager if everyone that returns coin and cash gets it from that branch as well. Ask for a balance from the manager. Explain the situation, then close your account. Unfortunately, they can refuse to take your deposits coin or otherwise. Like HoardCopperByTheTon said, just go to another bank. Sure it takes time to establish a relationship, but it will be better in the long run.
Deal
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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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Computer Jones
1000+ Penny Miser Member
USA
1112 Posts |
Posted - 11/29/2008 : 14:23:25
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Welcome to the "club" Epaphras,
It's not much fun, but it happens (three times to me so far).
Find another bank and tell them what you want to do.
I found a bank that was more than happy to order and accept coin for me. |
There's profit if you melt things!!
8{> |
Edited by - Computer Jones on 11/29/2008 14:29:14 |
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Epaphras
Penny Collector Member
USA
382 Posts |
Posted - 11/29/2008 : 18:00:17
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| Oh, when I do close the account, I am going to say something to the effect of may I have my cash so I can go across the street and open an account with your competitor, BB&T. I actually have an account there already, but it will be a good punch line nonetheless. |
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dp2007
Penny Pincher Member
130 Posts |
 Posted - 11/30/2008 : 08:25:31
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Try this- E-mail or call the offices of your Congressional Representatives. Let them know XXX Bank refused to accept a deposit.
Complain that they have no problem taking the Governments hand-out (Bailout money) but when an honest taxpaying citizen tries to deposit funds they refuse.
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NotABigDeal
1000+ Penny Miser Member
USA
3890 Posts |
Posted - 11/30/2008 : 10:58:40
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quote:
Originally posted by dp2007
Try this- E-mail or call the offices of your Congressional Representatives. Let them know XXX Bank refused to accept a deposit.
Complain that they have no problem taking the Governments hand-out (Bailout money) but when an honest taxpaying citizen tries to deposit funds they refuse.
They CAN refuse your deposit. I know someone who it happened to. Nothing you can do besides complain and move on.
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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PreservingThePast
1000+ Penny Miser Member
USA
1572 Posts |
Posted - 11/30/2008 : 11:17:37
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Please don't think I am disputing that this can happen; HOWEVER, I am really confused as to how a financial institution where one has an active account here in the US can refuse to accept a deposit into one's account. Especially if the deposit is in currency and/or coin.
What is the purpose of the account if you can't make deposits???
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JerrySpringer
Penny Hoarding Member
669 Posts |
Posted - 11/30/2008 : 11:35:15
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quote:
Any other ideas, thoughts, comments?
Gee, it would be bad karma to start a rumor that the bank is on the skids, right? Anyway, a bank that tells you more-or-less that you are not a valued customer in this manner that they have deserves to be named.
I worry slightly that I will get cut off from the coin counters in the banks someday. I try to be cool and not impinge upon them day after day, but I think that the ease of their use and how I can do more volume in coins will be too good to be true. From what I read, banks are not necessarily after our money like we would think. They can borrow from each other. Maybe credit unions are more hungry for depositors' cash? All I need is to find a good local credit union with a coin counter and I am set. Oh, and yes, it is a good idea to keep some money in the bank that you dump at. I am slowly convincing my wife that she should not be bashful about ordering coins at one of her banks where she keeps half a year's reserve of emergency cash in. She gets like 0.1% interest for this. I expect some more services than that for the amount she has in the account. |
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NotABigDeal
1000+ Penny Miser Member
USA
3890 Posts |
Posted - 11/30/2008 : 11:37:36
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I never said it was right, just saying that is the way it is. I know the amount of money you have in the account doesn't matter. I guess if you have millions then maybe you have some clout. Cash deposits are never a problem, problems can arise with the multiple hundreds or thousands of dollars in frequent penny deposits. It sucks, but it the way it is....
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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Copper Catcher
Administrator
USA
2092 Posts |
Posted - 11/30/2008 : 15:37:25
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| I would call the city executive of the bank, which should be over the one bank manager and talk to him or her and explain your situation and how unhappy you are and how rude this teller was to you. Tell them you think they did not want to take your coin because they did not want to do their job. There job it to take money customers bring in. If it is rolled they should accept it! |
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Dan52
Penny Collector Member
USA
422 Posts |
Posted - 11/30/2008 : 18:08:28
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Deal wrote:
"They CAN refuse your deposit. I know someone who it happened to. Nothing you can do besides complain and move on."
Which is true of course. They can also be made to endure the consequences. Its up to you to find if there are any. I have to plead ignorance in that I don't know what laws and rules the banks are bound by.
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moboman
1000+ Penny Miser Member
USA
2555 Posts |
Posted - 11/30/2008 : 20:25:40
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| What difference does it make where you got them? They didnt mint them, the US mint did. These are not bank notes, they are US coins. In the US these coins are "legal tender" to be used to pay off all debts public and private. These coins are universally accepted and are agreed upon their value. 1 penny at one bank is the same as 1 penny at another. |
"99% of all lawyers give the rest of them a bad name" 
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Irate
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