Banks refusing to make change

I go to a Bank of America to cash my payroll check.
I dont have an account, and they're fine with that (I just have to show an ID and whatnot) - however, Im going to open an account there because they keep asking me If I have an account everytime I go - except 2 people who now know me, lol.

Anyways, Ive frequently cashed checks and gotten larger and smaller bills from them no problem.

However, my main bank is actually a little credit union - if that makes any difference.

 

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I could be wrong, of course, but I am going to guess that your payroll check is drawn on BOA? In that case they have to cash it. If the check is not theirs, then they are doing you a huge favor, which banks tend not to do these days.

 

Maybe?
It is a BoA check - and my boss said dont cash/deposit it anywhere else, lol

edit: either way, the bank teller dosent change me the -non-member fee

 

So I just had this happen to me today. I went into my bank where I have banked for years. Teller and I have both known each other for almost a decade. I had some new $100’s I wanted to break down so I can strap search about $1k worth. I request for some $5’s, $10’s, and some $20’s. She said no instantly and wasn’t going to do.

I said I called ahead and asked if they had the small bills and they said yes and was no issue to them; with the $1k that wanted to trade in. Then she said she wasn’t going to as it costs the bank to order money from the feds and the businesses need it for change orders. This lady and I have always gotten along and she knows I bring small stuff and saves me old styled bills to buy when I come in. I was a little taken aback and it was never issue before with other tellers at this bank. I understand it I guess, but surprised since I am a customer and I called ahead and they were ok with it.

 

There just lazy, plus it takes two minutes of there time..LOL

 

Literally the bank was quiet, I almost want to close my account as a result.

 

This sounds very bizarre for you to have this great, long-standing relationship with the teller and seemingly all of the sudden she does a complete 180 on you. Were you trying to get coins as well? The way she responded, referring to businesses needing money for "change orders", and it costing the bank money to order, sounds like she was thinking more of coins than bills.

Tellers offer to order bills for me fairly frequently without my even asking. I've actually not taken them up on the offer before because I just bounce from bank to bank, one branch to another around town until I find what I'm looking for on a given day or week. If you live in a small or rural town you may only have one or two banks around nearby; if this is the case you have to be careful about closing your account if there aren't many banks or branches nearby.

What you can do is go back to the branch and make it a point to deal with and see another teller; I've done that when a favorite or preferred teller is in or there's one I don't jive with as well and would prefer to avoid seeing.

Otherwise, what you can do is turn it around at this branch and make them into a dumping bank. Go around to other banks/branches and buy what you want elsewhere and then drop off what you don't save at this branch. The branch may even become cool and offer to do a same-denomination trade with you if they know you're a collector. That is, bring in $1,000 in ones and walk out with $1,000 in different ones. I don't ask to do this but I will take up a teller on the offer when a teller offers to do so.

By the way, I've found that upper-middle age women tellers to be the most difficult to deal with in terms of not only being the least personable but being sticklers about giving me the spiel about needing coins/bills for business customers or a general difficult demeanor about getting large quantities of whatever it is I'm looking for.

I've found the younger the teller is the less he or she cares about following arbitrary rules or griping to me about having bills available. So if I go to a new branch somewhere and I'm not familiar with the tellers but I have a choice whose window to go to, I will choose the 20-year-old teller every time over the 50-year-old one.

 

I'd find another bank.

 

The stranger part is even, I called ahead and asked and the woman on the phone, even rude as well said there were plenty and it was no trouble. Appreciated that I called ahead too. Yes, I have learned middle aged women are more of a stickler towards policies as well. This woman that I have known has always been by the book, but her demeanor today was a little out of the blue. She wasn’t nice initially either when I met her, but we got to know each other quiet well with time and I do give gift cards and treats when they give me things.

I think will just resort to dumping them with my small bills now as a result. I have been to several branches and none have ever denied my requests and I always say if you aren’t comfortable or can’t accommodate that’s fine and I can settle for something else. Most banks that I go to are eager to get rid of the small bills. Especially the $20’s, I know Wells Fargo likes that when I withdrawal in those, as they go thru a lot of $100’s. I literally never had an issue ever with asking other tellers at this bank. However, last X-Mas I was trying to get some $10’s for cards and none of the tellers wouldn’t get any for me and I found that weird. Maybe they couldn’t get into the vault is my guess?

 

Maybe that would be a consideration, however
it would probably just happen at the other
bank you choose.

 

I think a big part of this is there is a coin and currency shortage right now. Banks have limited amounts on hand they need to cater to their business customers. Business customers is where banks make their money, not normal account holders. So, businesses get priority.

I worked at a bank years ago and we would run out of certain types of bills. As a result, we were told to be selective to who we gave them too...and business customers got priority.

 

I just talked the service manager at the other bank I bank with and it was no issue at all. They don’t mind at all! In fact they said I could order stuff if I wanted too. Must just come down to certain policies at certain banks.

@CamaroDMD Yes, I don’t do coins and never asked. I never heard of a currency shortage though but I guess I can’t rule there one being out with the pandemic. I did call and ask if things were fine. It is what is I guess, I know better now and won’t ask that bank. That’s why I’m not really that mad about it, just surprised me a bit since I always have tellers wanting to get rid of there small bills. They do make there money with businesses it makes sense. I’ll just go elsewhere.

 

Each Financial institution is independently owned, meaning they are privately held even if stocks are traded. Therefore they can make and set their own rules, which they do but they also must go by state federal and any local laws.

No matter which bank I have gone to in 42 of the states I have been in I have never experienced any problems exchanging large bills for smaller ones, rolls, etc. I have never had a problem.

 

Good points collecting nut, from now on I’ll just stick to where I usually can buy bills from. That’s what I was meaning to, like you’ve been to many places and nobody said no to change over anything. I understand why I was told no, just surprised in a way is all I mean. But yes everyone’s rules are different I suppose, and it makes sense if demand exceeds quantity. Makes sense also as to why businesses get dibs first because that’s where a lot of there money comes from. If I ever do go elsewhere again, I’ll just talk to who’s in charge before doing anything.

 

It's also possible they just had a bug up their butt.

 

It could just be that they don't want to complete the transaction because it really has nothing to do with the business of banking and becomes a nuisance if it becomes a habit. I can also tell you that despite the thought that banks charge fees for all types of activity to generate more revenue, there are cases where some fees are added as a deterrent.

 

What gets me is that some tellers and bankers don't realize that we collectors are their friends, not their enemies.

 

Some banks will not make large cash-outs unless you have an account in our area. I do business with more than one, so we can do as we need. That said I have been able to find/receive many nice coins and currency over my area for many years. When I go out of my area to other towns sometimes I have a problem. Just as when you ask or order coins. Like half dollars, or new coins. I have had a hard time getting the park quarters. Only have gotten them at stores.

 

I am noticing more and more establishments
putting signs out saying please use your
debit card for purchase because of the
national coin shortage.

 

Why...? Why bother with ANY bank that refuses to do this...within reason, of course. If it's something that may obviously and seriously deplete their supply of a certain denomination of coin/currency, then they likely have justification to deny a request, although if somewhere in the middle they may give preference to customers with accounts. I've actually never heard of this if it's a simple request...two tens or four fives, maybe a couple of quarter rolls, for a 20, etc...but things change and I don't . I would simply try another bank. If you're talking large stuff...hundreds to thousands of dollars one way or another, I don't think there's any law that says a bank must do anything that causes them a shortage or unreasonable effort...but I could be wrong. Just some thoughts.