Bank charged me another $5 on a $25 box of pennies. Anyone else?

Was on my way home yesterday and stopped at this First Commonwealth bank here in Altoona, Pa and the teller informs me that they have to charge an additional $5 on top of the $25 for the box.
I'm sure it has to be the same out there in the real world.
Please let me know of anybody else has encountered this.
By the way, I don't have an account at this bank and have gotten many boxes there before. I never return my coins there . Thanks Foo

 

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I don’t CRH from banks these days, but it makes perfect sense. They have to order, ship, and store coins for you. Banks are about making money. In the future, try sticking with asking for what they have in inventory. I’ve always had the best luck with customer wrapped rolls (CWRs).

 

@FooFighter

When silver skyrocketed to nearly $50/oz., it didn't take long for all of the CRHer's to start hitting the banks up for their rolls of halves, quarters & dimes. It has gotten to the point that the banks are now forced to add a surcharge regardless of the denomination, AND IT DOESN'T MATTER WHERE YOU DUMP YOUR SEARCHED ROLLS!!! You dump them at this bank, and your neighbor dumps them at your bank. Same difference! Pretty soon, you won't be able to order boxes unless you have a commercial account.

Chris

 

Well, this will either escort me out of the coin scene I came to love OR I'll have to hope for a whole lot of FOG coins! Lol

 

In my area, they charge a fee if you don't have an account there. It's been that way for many years.
Coin collectors did not create the problem. Those with a local business needed change and they used a bank that was close. Banks have to pass on the cost. Most eat the cost if you have an account.

 

Larry, it may be that coin collectors aren't responsible for the problem, but you can bet your sweet bippy that CRHer's sure had something to do with it.

Chris

 

It's clearly not worth $30 for $25 in pennies, especially when you have to dump around $24.75 of them at face value.
I've been CRH just for the ATB quarters, I try to get them while they still have some luster on them and aren't all scratched up. So every once in a while I go in and just get 5 rolls. They will sell me a box at face value, but I don't need a box of quarters.

 

Here in NJ, my TD bank never charges me a fee. Regardless of denomination. And I dump there also. Very nice bank to do business with. I don't know if they charge a fee if you don't have an account there.

 

When a bank orders coinage for every day transactions or for a
CRH, the company such as LOOMIS or WELLS FARGO charges them
a percentage over face value. As much as 6%. So a $100 of cents
actually could cost them $106. LOOMIS and WELLS FARGO have
to make money as well. So all you CRH's that have only paid face
value for there boxes of coins and not paid a surcharge be happy.

 

My one local bank has a coin counting machine, that is free, for those with accounts.
I had an account there, and intend to start a new one with about $150 in change I have been saving.

 

I use a major bank that orders me 2 boxes ($50) every week but does not have coin counter so I opened an account at my local credit union n/c for my loose coins they count

 

I would just ask for a few rolls. They probably won't charge you.

 

I worked for a large govt agency with huge buildings. Quite a few years ago, the cashier in the cafeteria complained that it cost them $600 a month to have their cash picked up.
Funny, because it was a secure building, with armed guards and you needed a govt issued picture ID to enter. They probably could have thrown it in the trunk and done it themselves.
Cant imagine what it must cost now

 

They don't want to deal with giving you boxes of pennies anymore so they are tacking on an extra $5 surcharge as a deterrent so you'll find somewhere else to go.

Anyway you look at it I end up paying for coin service one way or the other. I hook up the tellers with doughnuts or bagels or a restaurant gift card if I feel a funky vibe like they are getting tired of me and then it's back to smiles and whatever I want again for another period of time.

I'm not a business and I don't have a business account with fees so they are doing me a favor by ordering me coin boxes and I feel I'm obliged to also do them favors in return to keep the relationship beneficial for both of us. Getting boxes each week sure beats visiting 10 banks for to get $100 in mixed rolls for a "weekend garage sale" which they don't bat an eye at and seem to be really helpful with that as an excuse for needing a bunch of change and not having an account with them. It becomes a chore stopping at banks all week to build boxes a little here or there.

I find learning their names, being friendly, and yes, bringing a food gift around a holiday or just for no reason seems to go a long way to them ordering boxes for you consistently without any push back. Just if they are ordering a box a week or 5 boxes a week or 20 boxes a week, don't leave them hanging. Pick it up and say thank you don't miss the pickup and expect them to continue next week. Everything you do has some sort of a cost to it to absorb. If they are charging $5 for a box of pennies, maybe up it to dimes or quarters instead. If it's a flat $5 for the transaction, maybe up it to 4 boxes per pickup instead. Depends on how it works. I doubt they are charging $20 for a box of nickels, $50 for a box of dimes, $100 extra for a box of quarters unless they are trying to make you go away, so it's probably $5 per transaction as a service fee for a non-account holder.

 

I'm just wondering if you do this why you would expect a bank that you do not have a business relationship with to do a free service for you?

If I CRHed I would use my own bank because they wouldn't be allowed to charge me a fee. And if they wanted to, I would begin banking elsewhere. However, I would never expect a bank that is not my own to order things for me.