Local Bank Playing Hard Ball

Some of you have read my previous threads about exchanging paper money for coin rolls at a local bank. Well I went into this particular branch again today and again they gave me new 2015 Loomis wrapped rolls - which really sucks! This was the third straight time this has happened.

The teller was a young guy (more like a kid working his first job). He was a nice lad and so I asked him if he had any hand wrapped rolls instead. His response was kind of shocking. He confided in me by saying that the tellers are not allowed to exchange hand wrapped rolls, as per managements orders.

He said main reason was to deter coin roll hunters from going there as they get a lot of them. No surprise since this area is mainly older folks in a middle class neighborhood.

So I have a plan...

I'm gonna go in there every few days and ask to exchange paper but this time ask for only new bank wrapped rolls. It's not out of the way or inconvenient for me cause I pass right by that branch every day anyway.

After a couple months, or once I have a box load, I will go back there and dump them all back on them.

 

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Spoke to a couple friends from work that pass by there on the way to office that will do it also. Lol.

 

Burning a bridge?

A new teller afraid to rock the boat?

Why not speak to the manager? Promise that you won't dump them back there. Maybe something can be worked out.

 

If they want you to take your business elsewhere, why not oblige them?

Spite doesn't seem like a great approach for improving their policy.

 

Not sure what you will accomplish with your plan. Please explain.

 

That's an idea. And not a bad one. It's possible some other CRHer has already done that (or will be). I have no interest though in working some deal. I only exchange a few dollars at a time and not that often. I would just like them to do their job and help customers. Exchanging coins for customers shouldn't be considered an inconvenience to them.

I'm just hoping they come to the conclusion that their plan backfired.

 

Exchanging coins elsewhere is not costing them business. Moving my account probably would if I had a lot of money but I don't. It would also be inconvenient for me.

I do believe my plan could improve their policy. They might rethink the new policy or drop it altogether.

 

When you bring the coins back, do you bring back rolls or loose change?

Maybe you and your buddies could lease space inside the bank for a coinstar machine. In exchange the bank returns to a coin roll hunter friendly place. Usually incentives work better.

 

Bringing a box back to them won't accomplish much of anything. I have had a couple of banks tell me that they don't like to give out customer wrapped rolls. The reason they gave me was that they can't guarantee that the count is correct. I told them I don't mind and accept the risk. And I promised that the coins would not come back to their branch. They then accommodated me..

 

I do love these threads. You should probably read one of these sites:

http://www.themint.org/kids/how-banks-work.html

http://www.thesimpledollar.com/personal-finance-101-how-does-a-bank-work/

Banks are in the business of lending and investing money, and managing those accounts. They are not in the business of "selling" coins for face value. Why be a (...any word I'd put here would probably violate forum rules...) about it. Remember the bank is about making money, they are businesses just like any other. They are not government run, they are not public entities, they are private business who can (within the letter of the law) pick and choose who they do business with. Swapping a five dollar bill for 10 rolls of cents is not a business transaction. This is no different that asking a stranger on the street for change for a dollar. Some may reach into their pockets, or apologetically say they don't have the change. Some may very well tell you to (...again, no forum-friendly word...) off. The fact that the teller is in a stone building, behind a mahogany counter, and the stranger is on a park bench, makes absolutely no difference.

Why plot revenge? Policy is what it is. You are not conducting business, you are asking a favor. What you said sounds more like what a teenage would say behind his parent's back when told he couldn't have the car tonight. See the difference? Why would they adopt this kind of policy? Maybe you're not the only one who does this, and it all adds up to one big pain in the rear (I can use this?) for them. For the record, it does cost them money to exchange coin rolls, including paying the employee to count and sort the rolls (you don't really think they trust you, do you?). The armored car and their employees also do not work for free. See where this is going...

 

Shave all your hair off, tell them you have cancer, then they'll give you stuff that been in the vault for 20 years . 13 years cancer free ...

 

Don't give him any ideas

 

They are doing their jobs.
They are providing coins for you and other customers.
It's not an inconvenience for them.
Searching for specific coins for you is an inconvenience for them, and they are in no way required to comply with your demand.

Remember, you are not special in any way, and the bank is not required to bend over backward to please your over blown sense of entitlement.

I blame bad parenting for your sense of entitlement.

Now, sit back, take a deep breath and do something about changing your "the universe revolves around me" attitude.

 

I would think most bank would be happy to see people, with them only paying 1% interest, who's putting their money there, and bad service doesn't help them out any ...

 

Where do you get 1%?

 

Thats true, you will only get 1% if you have a 100,000.00 dollars to invest, thats what my dad tell me ....

 

It's too bad that you don't have much money because I would have suggested that you buy your own bank and learn for yourself what customers with an attitude like yours are like.

Chris

 

You tell 'em! It's my way or the highway!

Get even with them. Take your $79.85 checking account balance to another bank. That'll fix 'em.

 

That's the spirit!!

Yeeeehaaawww!!

Knew you would come around Rick. I had faith in you!!

BTW, my balance is $58.22, not $79.85.

 

Boooo