Bank "handling fee" for ordering rolled coin

With interest rates down since the Crash of 2008, how do you think they are making their money?

 

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Do you have an account with these out of control banks?
Do you have a large sum of money in these out of control banks?
My guess is no. If yes take your business elsewhere like a credit union.
Most financial institutions reserve the boxes and bricks for their BUSINESS ACCOUNTS,so if you do find one willing to give the option to buy these don't abuse it and do you banking with them,

And remember a bank is a business that is in business to make money not to work for free,it cost them money for special orders and need to recoup it from the end user.

 

I have an account at both banks and credit unions in my town. I have no problem paying a small fee that brinks charges them. But 25 cents per roll is outrageous. If I'm already banking at their bank why should I be taxed so hard? So they can steal literally half my money if I want a box of pennies? It's no more work to add 1 or 2 boxes onto their normal change order so where do they get the rite to tax their customers 50%?

 

There are still a few banks that buy their coins in bulk and bags and then roll them. This is done to save on the charge from Brinks. The bank has an investment in coin counters, crimpers for the shotgun rolls and labor. Perhaps you can find a bank that buys their coin in bulk. $50.00 of pennies weighs about 34 lbs. Good luck.

 

I don't want to sound like I'm defending banks - the very thought makes me nauseous - but let's look at this from a different viewpoint.

A good rule of thumb in retail is that you need to double your money on cost of product to cover the costs of offering that product - retail space, labor, taxes, etc. Banking doesn't stand the slightest chance of approaching even a small percentage of this margin, because all they get is interest/float on deposited and lent money. Even the most usurious loan rates in excess of 20% only approximate half of what's acceptable ROI elsewhere in retailing, and such rates only go along with very marginal loans for them, ones they have a reasonable expectation of being burned on. And that's another thing - an acceptable level of theft in other types of retailing is probably far below what normally happens in banking, from bad loans. Here's a table from the Federal Reserve regarding delinquency rates:

http://www.federalreserve.gov/releases/chargeoff/delallsa.htm

Pro tip: In "normal" retailing, only the very lowest of those numbers would avoid getting everybody in the building fired for incompetence.

So, as a banker, how exactly do you make any kind of money on your "product?"

 

Well it's their business so that give them the right. And why would they do it? Well you apply a tax or fee for two reasons, to raise funds or to discourage an action or behavior. I don't think they believe charging for those rolls is going to raise much money, they are doing it to try to get people to not order rolls of coins.

 

what is even worse than your bank trying to steal from you is that my bank never has any new P or D ATB quarters, either entire rolls or even in circulated rolls. Thus I have seen only one (1!) of the 'new' 2016 Shawnee quarters. It took until Feb. 2016 to get enough of the Saratoga quarters--4-- to put into a folder. Of course they are all 'D' mint marks because I live in OKlahoma and closer to the Denver mint. It also took an entire year to filter out a roll of 2015 dimes and nickels, but it did not take that long, thank God, to find a roll of 2015 D pennies. They are 'circulated' but otherwise BU.

 

Why not offer to trade a roll with someone in a different area of the country, each pay postage?I did that successfully for many years.