PSA: Huge $230 counting machine error...

So, I turned in a box of nickels and a skunk box of dimes today at TD Bank, at a branch where I don't normally bank since I happened to be in the neighborhood. The nickels counted bang on, but the entire box of dimes the machine took as being $19.40. The machine was kicking out unmarred dimes like crazy which leads me to believe it wasn't being cleaned like it was supposed to be. The machine also counted 227 pennies that didn't exist in that box. Needless to say I proceeded to notify the head teller, regional management and everyone else I could to make them aware of this issue. They said the armored car service will audit the coins taken and credit the error back to my account. I will be watching this very closely and update everyone as to what happens with an error this large.

I just want to make people aware though this can happen and that the counting machines are not fool proof. If you don't want to re-roll at least weigh them and bust out the calculator to have at the very least a rough estimate of what you should have coming back to you.

I will update again once this is resolved to let you all know how TD decides to handle this. I feel really sorry for the people who came in earlier in the day and used that machine without knowing about how much they had.

We shall see what happens...

 

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This happens about once a month to me on dimes, but never to that extent. I think the most it was ever short was about $75, and the money was back in my account 6 or 7 days later. Typically, the missing dimes are counted as cents instead...

 

Almost every time I dump dimes my receipt shows one or two pennies that weren't there. I don't make an issue of it though, 18 cents isn't worth the trouble. $230, on the other hand.......

 

I get shorted about $5 in dimes for every $1k I cash in. I consider it a fee.

If the "fee" goes over $10, I say something.

 

Wow, that's pretty bad. The most penny-for-dime miscounts I've had dumping a box is 4. The time there were 6 dollar coins left in the counter by the previous person has more than made up for the times I've been short.

 

I've said it before and I'll say it again and this is merely my opinion, but re-rolling is the only way to fly. I never get shorted and I always get my money back by re-rolling my coins. My latest thing is to just empty one roll at a time and to then count the coins looking for overages before I re-roll them. Anyway, this is not the first time someone on here has had a horror story to share with using a coin counting machine. Perhaps high-volume coin redeemer's can ask a teller to open and make sure the machine is clear before using them.

 

I have to re-roll. No counting machines in my area. None that I have found yet, anyway. It does avoid getting shorted but does take some time. My volume is much less than some of you guys so it's not a big deal for me. I would probably tolerate a small mistake on a machine for the convenience but more than a buck or two would hack me off.

 

I re-roll too, but another way to know what you should have is to count what you kept back, the ballance is what you are returning. If you do a box of dimes and only keep a few coins, the math is easy.

 

This is overall quite correct, however some rolls do get shorted. I've found rolls of CWR quarters that were 3-4 quarters short. I've also found some BWRs of nickels in the plastic wrappers that were short by a coin. So even if you subtract what you keep you might not get an entirely accurate reading when you go to redeem them in a coin counter. This could lead someone to conclude the coin counter was inaccurate when in fact it was their rolls that were off to begin with.

 

Some banks won't accept hand rolled coins. The bank I worked at made us break d every roll that someone brought in and dump it in the coin counter.

 

If employees can run the coins through a counting machine like what is done at casinos that use coins then this is no big deal. I think there is an increased propensity for problems to occur when you have a Coinstar type machine in the lobby as the employees aren't there to make sure it is kept clean and functioning at all times like they are able to do with traditional coin counters.

These are the types of machines that I am talking about. I would be much more supportive of using coin counters if this is what more banks used. Instead of having a machine in the lobby that can get easily jammed, dirty and clogged up with junk that the customers pour into them, it is best for the employees to do it in these types of machines:

 

Local Hudson Valley Credit union, had $16 in halves, put into machine,came up as 15 dollars so I called one of the front persons and they said I would be credited $1.00. I asked the person to open the door and check the reject box. finally they found my dollar. This person didn't want to do the job they are told to do.

 

TD Bank coin returns get audited each month by the courier company. If you ever have a problem or believe the count is not right tell your branch and they will contact the courier company. I've been going to them for years and I've only had 1 real coin counting error that required the audit to get me my money back. But I did get my deposit credited to my account.

Always weigh your coin returns, because coin counters are not 100% accurate.

I don't think you need to be all that concerned, it's just going to take time. Counting errors like this have happened a couple times with me. Also I don't know if you needed to contact the regional management and other people (who else did you call). But hey it's your money.

Just a thought, try pouring the coins in slower. I've seen your error happen in these machines if we 'over-work' them. I found by feeding fewer coins into the machine you avoid errors.

This sucks when it happens, hope things get resolved quickly and accurately.

 

Merc, That's a crazy amount of money to lose. Have you tried changing the speed you feed the counter? I feel that if you did this, the count might get closer to your actual deposit. And it's worse because you are aware of the amount you will lose...I'd be saying something to the bank at each deposit.

 

Which explains why I don't bother to search dimes anymore - a $110 error and subsequent discussion with the bank convinced me that dimes are not worth the effort. I have seen from another of my banks where I buy cent bags, lots of dimes end up in those bags and are probably credited as cents to the depositors account.

 

I know this happens. About half the time I dump a box I end up with a few dimes counted as cents. I don't mind a few cents, but I'd complain if it gets to be more than that.

 

I think it's wrong to think, that a slight degree of error doesn't matter. It is eating your profits out from under you.

 

It doesn't matter to me because my time and my ability to dump volumes of coin at this bank is worth more than 18 cents, or whatever the tiny error is. The quantity of coin is always correct on the receipt, with the exception of a couple of dimes sometimes counted as cents. Not worth the fuss.

 

Well the plot thickens. I spoke with the head teller today and they said they audited the machines and that they were accurate I have a meeting with the branch manager tomorrow and they are going to pull the security camera footage and look back at the tickets. It appears that half way through my dump when the bags needed to be changed the teller may have printed up another receipt and either pocketed or thrown it away and the ticket that I got was only for the 2nd half of my dump which makes sense. We will see what happens tomorrow when I go down there. Can't trust anyone anymore.

 

Interesting. When the tellers change bags on the counter at my dump branch, the machine prints a receipt for the transaction up to that point, and a balance receipt for each full bag they remove from the machine. After the bags are changed and I run the rest of my dump, a new receipt is printed with the total amount from the first and last half, and the old partial receipt is invalidated.