I took a bit of a break from CRH and was planning on starting up again; however, it appears TD no longer has the coin counters (at least mine doesn't anymore). So now what is the best option to get rid of coins?
That was my first thought, but I rejected it because I assumed that his TD bank got rid of the counting machine because it was costing them more for processing the bulk coins than it was worth. If that was the case, they probably have a similar policy for accepting customer-wrapped rolls. Chris
No.. The coin counting machines were free for account holders and they charged a fee to non account holders. Account holders can ask for paper rolls of any denomination to wrap up their coins and bring them in to deposit. Well at least at my bank which is CapitalOne. They eliminated the coin counting machines also but I get my free wraps and free deposit!
Check out other banks as well as CUs. Two of mine still offer free coin machine counting, so I dump all denominations there except for halves since I buy bags of halves from them when they are full. I re-roll the halves and dump them at my original bank (Wells Fargo) because they removed their machines earlier this year. I have my eye on a 4th bank that has coin machines and might let me buy bags. I will try and get the Bank President's approval to do that before I open the account. I learned the hard way when my CU told me I could buy the half coins out of their machine. Recently I discovered they were removing the silver and selling me the clad only. They are free to do that, but I am free to move my money elsewhere! I guess the message is you will need several accounts at different banks & CUs to move a lot of coin.
Woke up to no power. No getting to a bank anytime soon. I roll up all my non keeps and trade them in on other rolls. But then I'm not going through boxes or bags. My bank gives me wrappers for the asking.
Check the grocery store. There are coin star machines, but some in some stores it is free if you use the money to pay for groceries there (you get a store credit for groceries).
They took out the machines because there was a news report that said they were inaccurate. They tested 3 TD machines I'm pretty sure with 100 dollars and 2 under sold it and 1 over sold it. TD Bank will take rolled coins (as long as you are an account holder) with no charge. I think all banks as long as you have an account do that...
My bank requires that I have my name address and account # on the paper roll. There is no charge for taking the rolls, but there is a 2-roll limit at any one time. They do not offer free paper rolls, but rolls are cheap at Walmart.
Change can be a pain in the butt !! i usually use all my loose change such as pennies in (rolls) nickles and dimes and use that for gas in my M/C or stamps something like that.
Heck, I could have told you that ten years ago. It didn't matter if it was a machine in a bank, credit union or even a Coin Star. I found that most machines were off by about 3%. The problem was that none of the businesses wanted to perform regular maintenance, and they figured that the average customer wouldn't know the difference. When I pointed out such discrepancies to an employee, they just shrugged their shoulders as if to say, "What do you want me to do about it?" It was like pulling teeth to get them to pay me the amount shortchanged. Chris
Yes, we live in a society where folks know things are wrong but they do a cost-benefit analysis based on how often they're going to get caught cheating you . . . out of your change . . . a safe car . . . emissions testing . . . drinkable water . . .
My credit union asked customers to stop putting their information on the rolls so that they weren't giving out customer information with the rolls. Mighty nice of them to look out for us that way.
I noticed it isn't accurate (at my credit union), but after two years of dumping there, I've noticed that it pretty much averages out over time. Not too mention the many times I have put my hands in the reject bin and found silver, foreign, and in some cases, handfuls of change. I can see why they don't want to deal with complaints, though.
I've often thought of that, but have never asked. I am thinking that these are not passed on to people who want rolls, but may be used at teller stations... just a guess.
My bank (huntington) has no problem taking rolled pennies from me, and usually don't even ask about account information. I have a plastic tube thats graduated so I don't have to actually physically count out 50 coins.
