Fee's for Bank coin counting machines

Hello All! Hope your Saturday is going great! I have never used a coin counting machine up until I joined my local credit union on Thursday of this week. They charge (@cpm9ball ) 2% of the total amount that you cash in and I am ok with that. The people there are so much more friendly than at the chain banks and it does feel as if it's a little bit of a local thing. I'm happy to pay the fee but what I'm interested in is if you pay any fee for a machine and if you do, how much? I will still be rolling a lot but when you have a large amount of coin from crh, it's nice to be able to take your jar in and dump it.

 

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My local credit union doesn't charge, but their machine takes *forever*, so it doesn't really make sense for large amounts of change and it doesn't take half dollars.

My regular bank got rid of their counting machines a few months ago.

 

I do not pay a fee to cash change or I take the account to a different credit union or bank. The fee is just another corporate rip off to customers. I left a bank last year and I had an account there for 45 years. The manager claimed, since they were bought by a large national bank, the fee had to be charged. I have 4 accounts in different banks just to convert coin roll hunting. I buy from my main bank and dump in other banks.

 

@Bambam8778

When I was actively searching rolls, I kept an account at the local credit union (with a $100 minimum account balance) because their change machine was free as long as the daily maximum of $100 in change was observed. Fortunately, the credit union had 5 branches within 10-15 minutes, so that meant that I could cash in $500 daily. However, that was about 9 years ago. I have no idea if they have changed their policy since then.

Chris

 

.......and I wouldn't be surprised if some of those banks start charging a fee for those services at some time in the future. It's not a rip-off. It's merely accepting the fact that it costs the bank money to provide those services for you.

Heck, I can remember when the air pump at gas stations was free. C'est la vie!

Chris

 

Our local Big-Y family operated grocery chain is the only place around here that still offers free air.

 

Our CU charges 5% to dump coins. Hey there is always Coinstar at their 12.9%...yes, yes you can convert to gift cards.

5% is not bad when you find almost 2 rolls of buffalo nickels or a bunch of silver.

 

My credit union actually does not charge fees to dump coins, and I think you can use coinstar machines and get gift cards instead of cash without having to pay a fee.

 

My CU only charges non members, The machine spits out a receipt with 2 final tally's One for members 0.00 and like .05% for non members. ( NY )

 

Zero

 

Just out of curiosity, do larger banks (Bank of America, Wells Fargo, Chase, ect..) typically let you all get a few dollars of pennies if you do not have an account

 

Wells Fargo will usually give you a few rolls of pennies. (Without an account.)
But most will not.
I am not endorsing them. I used to have an account, I don't anymore, and they are just complete dogs.
But when I tried to get some pennies without an account they had no problem doing it. I didn't take them, as they were all brand new, and I had no use for 10 rolls of 2015-D cents.

 

Thank you, I will have to check them out!

 

It may vary in different states. I went when it was not busy at all.
All of the tellers had nothing to do. Maybe that helped it wasn't busy.

 

Thank you, I will defintaly have to try it! I really appreciate the advice!

 

My CU charges 2% for customers. Since none of the local banks offer free coin counting that's as good as it's going to get for me locally. I'm ok with it since I'm being a pain in the butt with my oddball requests for coin. ;-)

 

My bank has the counter behind the counter, but charges nothing. I just stroll in, give them my tub filled with whatever I'm returning and ask for something else back in rolls equivalent to whatever I just gave them.

 

How can you be sure you’re not searching the same stuff you’ve already turned in?

 

I don't think the bank can roll them that quickly. And most of the time I get boxes. When I do pennies, I normally always find a few wheats.

But, I guess I can't be sure...

 

People are searching other people's dumps, but I think they get sent back in bulk to the coin rolling companies (Loomis, whoever) the banks are not wasting their time rolling coins anymore.
But the expense of buying boxes from Loomis and then selling them at face value, at a loss to customers is going to end. It won't be worth the fees attached to buy a box of pennies. Would you pay $26 or $27 for a $25 box of pennies to get 4-9 wheaties out of it? Most of them from the 1950's and worn and circulated?