Are you getting shorted when you bring your coins to the bank?

I found this article it is very interesting since I don't recall counting my change before I go into the bank.

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Interesting.

One thing that happened to me once. I took a jar of pennies and a jar of nickels to get counted. For some reason, the genius counted each jar separately. But the kicker was that after he put the pennies in and an amount showed up. He reset the counter and then put the nickels in. I didn't get credit for the pennies.

No amount of arguing helped....

 

Would their counting machine take out .08 on the dollar like the ones at grocery stores? that may account for some of the loss, but still it's bad business for them to not let folks know it's doing that.

 

I'll bet that if the counters were off in your favor, they'd have them fixed immediately. I am going to count my change the next time I cash in. To my wife, it may seem like a waste of time that only a tight wad would do. But it's the principle of getting ripped off, not the amount most times.

 

i know for a fact that bank machines are off. thats what i do for a living. i recount the bins from the banks to verify what they have is correct, and then we pay the bank that amount. most of the time we pay them more than they had on their machine, which means they are shorting their customers. a lot of their machines need calibrated which they wont do because it usually works out to their favor.

 

I sometimes use a supermarket machine and get Amazon gift coupons to avoid the fee. It frequently counts dimes as pennys, and vice versa -- but not enough to make a big difference.

 

Somewhere here on coin talk is an old thread on how the machine [and teller]at Savings Institute bank in Moosup, Connecticut cheated me.
Yes the machines lie. The tellers cover up for the machine.
"Oh it can't be wrong, it's calibrated every week".
My coins of choice are Kennedy half dollars.
When you hand count 200 halves and then do it two more times you better have 100 dollars. I personally counted out 200 half dollars three times.
The machine gave me a slip for $98.50 and the tellers said it is impossible.
I closed my account there immediately and never went back.
The new bank I go to has a machine by Cummins. It is fast and accurate so far.

 

I bag up all my halves in $75 bag and bring them into the coin machine. The other day it told me I only had $72.50 and i noticed coins were stuck and got the teller and found $2 more but still i was short $.50. Then I went the following day but I poured the coins in much slower allowing the machine to count, this time it came out $75.

 

I found a neat coin counter at a garage sale once and all my change goes into it. It has individual tubes for each denomination. When the tube is full, I throw a wrapper around it and take the rolls to my bank when I have enough to make it worthwhile (the bank even provides me with the wrappers). It is a Wells Fargo in Arizona. They take my rolls with no problem. However, when I go to Colorado, the Wells Fargo there won't take my rolls. I had to empty them so they could run them through their counter. I was off from what I had in rolls. I always recheck to verify my rolls are accurate and no cross denominating has taken place.
Just my 2 cents (unrolled).

 

cummins is the machines i deal with. they are good machines, but as with all machines everyday they need cleaned out and rubbed down with alcohol. when the heads in the machine start going bad you will find pennies in your dimes and vice versa. that is the first sign of wear. the heads are very expensive thats why the bank wont change them

 

They have some nerve!!

 

Whenever I go to TD, I bring rolled coins and put it in the machine ( i don't like giving them to the teller) and the machine has been off from the rolls a few times. I just give the teller the empty rolls with the receipt and they give me the difference.

 

bottom line... if you dont want ripped off, take the time and roll your coin and take them to the teller..... its that easy

 

P C....you Iowa folks are just too nice. If that guy pulled a stunt like that on a person from my neck o' the woods there would be Armageddon. :smile

 

None of the banks in my area will take rolls, they want all of the change loose so they can run it through the counting machine.

 

....just share the wealth.

 

i goto a national city bank (i think theyre being bought out again) and i usually count change before taking it anyway. i dont know what brand machine it is but whatever small amount i take in (usually around $10-20) it comes out accurate.

 

Becoming more and more the norm. Banks around me also will not take rolls unless you want to pay the fee for them to send them out for counting. Of the 5 banks I deal with, none will take rolls anymore. Also, only one has a coin counting machine. And as noted already, usully gives wrong info but not much you can do to prove that. Banks around here now tell people that ALL bulk coinage in bags, jars, cans and rolls must be sent out for counting. There is fee for this naturally. Your total will be entered into your account. NO ACCOUNT? Extra fee since they now have to send you a letter with a check for that amount.
It's the fault of people that play the add a washer or two to a roll. Or just one coin short per roll. It happens so often banks are now charging for those that did that. Sort of normal that the masses always have to pay for the criminally minded people.

 

Hence why I never have nor ever will use one of those machines.