Need a bank account for rolls?

My Main bank has tellers that have no cash. If you cash a check or have want cash back they give you a card and send you behind a desk to get your money. The banks I go to to get coins usually never have any other customers. How long will it be before banks do not have Brick presence?

 

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The banks and government are trying to do away with cash. There is a big push for mobile banking. Once there is no cash the banks will have all of your money, and pay you no interest. It's a little further down the rabbit hole in the EU. New banking laws will require the depositors to lose a portion of their savings to offset bank losses due to speculation. It's called the "bail in". No need for government bailouts.

 

I guess hoarding silver is sounding pretty good

 

My bank told me I should call ahead to save time for the $40 in change I get twice a week? I Have had this account since sept of 1986. When I opened the account I asked for ten dollars in pennies that day. My bank just wants to discourage coin roll hunting I guess because it is not profitable for them. This bank is penny wise but pound foolish. They are probably wondering why they are not getting loans when they charge higher interest then other banks they say to cover costs. So they are not competitive. This seems to me they are hemorrhaging losses where it counts in the big money making loans then being concerned over a couple minutes of labor time spent to get change. They make me wait about five minutes to get change from the vault. My guess they think this will discourage me. They give me the filthiest end coins on rolls they can find. After doing this for thirty years. Recently I have been doing it more often then years past. The way they are treating me I opened another account at another bank. I am thinking of moving all my banking there. Even though I do not think it will be any better. While I was opening the account the phone was ringing and the person opening my account said it was probably a request for change ?? So this tell me they will probably not act any better. I asked this bank in 1990 for a credit card the guy that sat down with me said my income was not high enough to qualify for a credit card. I got one form another bank in 1992 I still have that account . so the bank i Have a credit card with has been making money off me ever since. I pay off my credit card every month they do not make interest but do make a percentage off what I buy it is not a free ride. The bank I have me credit card at dose not have a local branch or else I would get change there . The first bank lost out for being to safe and making rules that make them loss the opportunity to make money. They seem to roll there eyes lately when I come in for change. My account with them for almost thirty years. They think I am costing them time and money? When they are losing opportunity to make money on accounts they have refused to give me or charge me more then other banks do.

I had a variable rate mortgage with the bank I have my checking account with. I got a low interest fixed rate with another bank to save myself money. They lost out by trying to squeeze me for every cent they could. Now they are concerned about rolls of change. they are cutting off there nose to spite there face. they are creating a loss loss situation for there bank. maybe it is just my paranoia showing through.

sorry to write so much

Russ

 

I think the big push for mobile banking where you take a pic of your deposit check with your phone instead of going to the ATM, and using your debit card is the new model. Not satisfied with laying off thousands of tellers, they now want to lay off the rest and close down branch offices. Anything that requires physical work at the bank is discouraged.

 

Anything that we ask from a teller takes his/her time. That time is best spent taking care of their account holders. If we don't even have an account at that bank, we are taking the teller away from the duties that they are paid for. Customers waiting in line, who have accounts, are inconvenienced when we make such requests. Anytime you're able to get special services from a bank that you don't patronize, you need to realize that your lucky. Just my own thoughts. Jack

PS - Rather than opening your own bank (could be costly), why not consider getting a job as a teller. If that doesn't work, you might be able to date, or even marry one. Problem solved.

 

I just opened an account with a new back for the sole reason they have a coin counting machine. They have become my new dump back because I do not have to bother the tellers. It cost me $25 to open the account which I get back when I close it out and I get fee free usage of the machine. I have never ordered coins just bank hop and see what they have at any given time.

 

coinMD - What bank is that. I can't think of any banks close to where I live (Southern California) that have a coin machine. I think you made a great decision to open that account. It's going to pay in the long run. I'll do the same if there's one near me. Jack

 

I take mine to the Coinstar at the grocery store. I get a box per week from my bank but they don't want them back.. lol
I got a 1957 Rosie silver dime last time I dumped. I put too many down at once and they overflowed through the reject tube. It must have knocked the dime loose

 

Hey Tom, It's good to hear from you again. Last we spoke you gave me a valuable lesson on privy marks (I think).
My Coinstar machine keeps 10% of the total, and gives me a coupon for the grocery store (that it's in), that must be used within 24 hours. So my question is, "Is everybody using the Coinstar machine, also paying 10%, or is there some clever option I haven't thought of?" Jack

PS - What coin is that, you are using for your avatar?

 

It is Madison bank of Maryland. They are really small only have three location and no atms. I would never bank there for my actual banking. Just look at smaller banks in your area. Good luck.

 

If I was not a member of the bank I go to bump at they charge the public 6%. Check around. I would not pay 10%. I would roll them first. Maybe not the pennies but the higher amount for sure. Alot of the time if you ask the bank will give you rolls. I have even gotten half roll for free.

 

Try credit unions too. They often have coin counting machines.

 

my bank it depends upon who is the teller some will give you rolls of pennies and other's will give you the whole twenty five dollar box as long as you have the cash. The other day I needed a money order from the bank I needed to show three different forms of id.

 

CoinMd and Lon C. - Thanks very much for the tip. I do have a nearby Credit Union that might be a good spot. There's also one small, local bank still left in my town (the very last one, actually kind of sad). I hadn't thought of Credit Unions. Great info. Thanks again. Jack

Larry S. - When I buy money orders at USPS or Wal Mart, I've never been asked for any ID. Three forms of ID seems excessive. Were you wearing a Scream mask??? Jack

 

I wish I had a mask like that! actually I handed the teller my dl with picture then a county id and then a voter's card. What is funny about it is the teller is new and I live right next door to the bank

 

That is hilarious! Did you talk to him about it afterwards? Seems like you've got an opportunity to make a very helpful friend. Jack

 

Credit unions are a good suggestion. They're technically member-owned, and they tend not to go as crazy on the fees as banks. You might need to open a savings account, but you can typically do so with very little money (my credit union is a $5 minimum) and no fee on the account.

I'm not even sure I carry 3 forms of ID, unless they accept library cards or other random cards with my name on them.

 

yea I live in Fort Lee, New Jersey by George Washington Bridge, I call it the traffic mess bad dream, always got to be carrying ID, police everywhere

 

I carry my driver's licence pretty much everywhere. It's the other 2 forms of ID I'd trip up on.