Log in or Sign up
Coin Talk
Home
Forums
>
Coin Forums
>
US Coins Forum
>
Fed Banks charge for rolled coinage?
>
Reply to Thread
Message:
<p>[QUOTE="19Lyds, post: 2452794, member: 15929"]Hate to tell you this but Wells Fargo is most certainly a "Federal Bank" in that the are a Federal Reserve System Member Bank.</p><p><br /></p><p>What this means is that they "can" order their coinage directly from the Federal Reserve Bank Stock piles though most order through Federal Reserve Member Services that receive and roll coins directly from the Federal Reserve.</p><p><br /></p><p>They are NOT one of the 12 Federal Reserve Banks which, BTW, DO NOT deal with the public, onlky with Member Banks within their specific District.</p><p><br /></p><p>Having said that, there is a popular "notion" that a Federal Bank MUST comply with certain "unwritten" regulations which simply do not exist.</p><p><br /></p><p>They are businesses and can "operate" their business in any manner which comply with current Federal Labor Laws and Federal Policies governing citizens of the country.</p><p><br /></p><p>If they want to charge $5.00 for a box of coins to non-Account Holders, they are within their rights to do so. They really are not REQUIRED, by Federal Law, to even have to deal with people that are not account holders.</p><p><br /></p><p>Getting all puffed up do to personal ignorance of what a bank can or cannot do is just silly.[/QUOTE]</p><p><br /></p>
[QUOTE="19Lyds, post: 2452794, member: 15929"]Hate to tell you this but Wells Fargo is most certainly a "Federal Bank" in that the are a Federal Reserve System Member Bank. What this means is that they "can" order their coinage directly from the Federal Reserve Bank Stock piles though most order through Federal Reserve Member Services that receive and roll coins directly from the Federal Reserve. They are NOT one of the 12 Federal Reserve Banks which, BTW, DO NOT deal with the public, onlky with Member Banks within their specific District. Having said that, there is a popular "notion" that a Federal Bank MUST comply with certain "unwritten" regulations which simply do not exist. They are businesses and can "operate" their business in any manner which comply with current Federal Labor Laws and Federal Policies governing citizens of the country. If they want to charge $5.00 for a box of coins to non-Account Holders, they are within their rights to do so. They really are not REQUIRED, by Federal Law, to even have to deal with people that are not account holders. Getting all puffed up do to personal ignorance of what a bank can or cannot do is just silly.[/QUOTE]
Your name or email address:
Do you already have an account?
No, create an account now.
Yes, my password is:
Forgot your password?
Stay logged in
Coin Talk
Home
Forums
>
Coin Forums
>
US Coins Forum
>
Fed Banks charge for rolled coinage?
>
Home
Home
Quick Links
Search Forums
Recent Activity
Recent Posts
Forums
Forums
Quick Links
Search Forums
Recent Posts
Competitions
Competitions
Quick Links
Competition Index
Rules, Terms & Conditions
Gallery
Gallery
Quick Links
Search Media
New Media
Showcase
Showcase
Quick Links
Search Items
Most Active Members
New Items
Directory
Directory
Quick Links
Directory Home
New Listings
Members
Members
Quick Links
Notable Members
Current Visitors
Recent Activity
New Profile Posts
Sponsors
Menu
Search
Search titles only
Posted by Member:
Separate names with a comma.
Newer Than:
Search this thread only
Search this forum only
Display results as threads
Useful Searches
Recent Posts
More...