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<p>[QUOTE="Kasia, post: 1246487, member: 31533"]<b>I don't know and am not too concerned</b></p><p><br /></p><p><br /></p><p><br /></p><p>Actually, I have no idea of what the cost to the bank is for the cost of loose change. I would think they are responsible for the cost of the machine, bags, and maintenance/repair of such. I don't know the cost for the bank to order or to send back coin to their supplier. I do know that generally they have to send (so I'm told a one of the banks) the bags of coin to be "verified" and sometimes it is over and sometimes under count. </p><p><br /></p><p>From the cost they charge (at the bank) to non-customers, which is 10 percent of change put in, compared to the local groceries and wal-mart that has coin machines that generally "cost" the consumer 8-9 percent, I would think that there should be a healthy markup, and that the machines there are making money (outside the bank) otherwise they would not be there, I'm sure. So if the bank has to pay 1-2 percent of coin, then 5,000 a week is 50-100 dollars to the bank costs. I don't even know if it's that high, but the bank institutes and "makes money" off customers all the time with overdraft fees and costs of not maintaining minimum balances, etc. so I really am not concerned if it costs them a bit to do this. </p><p>Also, If it does cost 1 to 2 percent or so, then when people are charged to use it, they still have 7-9 percent they are making off it, and it is their choice to have one rather than to have tellers or clerks deal with getting a lot of change, loose or in rolls. </p><p><br /></p><p>I won't go on, as I am not replying in order to have a debate on this. I don't think a debate is neccessary. Bottom line, is if there are coin machines and you can use them without costing yourself, then there is no crime in using it. The bank I use is profiting from me, again because I am their customer and have the potential to do business with them for many years or refer others (not neccessarily roll searchers) to them. Again I think it is good business on their part. At the point that the banks can find a way to get money out of roll-searchers, I'm sure they will. And if I'm wrong, then so be it. I've been wrong many times in my life.[/QUOTE]</p><p><br /></p>
[QUOTE="Kasia, post: 1246487, member: 31533"][b]I don't know and am not too concerned[/b] Actually, I have no idea of what the cost to the bank is for the cost of loose change. I would think they are responsible for the cost of the machine, bags, and maintenance/repair of such. I don't know the cost for the bank to order or to send back coin to their supplier. I do know that generally they have to send (so I'm told a one of the banks) the bags of coin to be "verified" and sometimes it is over and sometimes under count. From the cost they charge (at the bank) to non-customers, which is 10 percent of change put in, compared to the local groceries and wal-mart that has coin machines that generally "cost" the consumer 8-9 percent, I would think that there should be a healthy markup, and that the machines there are making money (outside the bank) otherwise they would not be there, I'm sure. So if the bank has to pay 1-2 percent of coin, then 5,000 a week is 50-100 dollars to the bank costs. I don't even know if it's that high, but the bank institutes and "makes money" off customers all the time with overdraft fees and costs of not maintaining minimum balances, etc. so I really am not concerned if it costs them a bit to do this. Also, If it does cost 1 to 2 percent or so, then when people are charged to use it, they still have 7-9 percent they are making off it, and it is their choice to have one rather than to have tellers or clerks deal with getting a lot of change, loose or in rolls. I won't go on, as I am not replying in order to have a debate on this. I don't think a debate is neccessary. Bottom line, is if there are coin machines and you can use them without costing yourself, then there is no crime in using it. The bank I use is profiting from me, again because I am their customer and have the potential to do business with them for many years or refer others (not neccessarily roll searchers) to them. Again I think it is good business on their part. At the point that the banks can find a way to get money out of roll-searchers, I'm sure they will. And if I'm wrong, then so be it. I've been wrong many times in my life.[/QUOTE]
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