Wells Fargo Getting Rid of Coin Counters

First off, if this is in the wrong place, mods, please move and I apologize.

Second, boy its been a long time since I've posted.

Third, I went into my local Wells Fargo a few weeks ago and found out that they are moving away from coin counters and moving towards you rolling your own coin and turning that in for cash. They gave me the rationale that most states have done away with the coin counters anyway and who honestly uses cash over debit cards anymore. Main question I have, who has a bank (not credit union at this time) that still has a coin counter?

Thanks in advance

 

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I foresee a lot more buttons and slugs in rolls!

Chris

 

My bank, CapitalOne, did away with their coin counters because more customers than guests were using them. They were not making any profit since it was free for members. Guests had to pay a fee.

 

The problem with them accepting CWR is that they do not credit your account, until after the coins are counted (in a coin counting machine, on or off site) and the numbers are often way off from what you KNOW them to be.
This is a bad idea all the way around.
They are just trying to discourage all the work they put into the coins, without much compensation.

 

My bank is regional and they have a machine where you dump coins in and the thing spits a piece of paper out, which you bring to a teller for either cash or to deposit in your account.

 

I'm just not sure (after all the shenanigans Wells Fargo has pulled) why anyone would still have an account with them *unless they were the only bank for miles around.*

 

Agreed. Wells Fargo is and has long been a horrible bank. I refuse to ever use their 'services'.

 

My Wells Fargo takes my CWR and credits my account 100% immediately available.

Must be because of my ruggedly good looks...and the big nose and long ears.

 

You have a major exception to the rule there I'm sure. They gave me a hard time for everything in every way (not to mention their shenanigans).

 

My one commercial bank still has coin counters but they charge 5% so I never use them.

 

I've been talking about Wells getting rid of them for awhile. I'm bummed because it affects my CRH but I will adapt.

 

I've heard that TD banks (on the east coast) are also doing away with coin counters.

Looks like rerolling will be the future of CRH.

 

I live in an area that has never had counting machines. Hence, I gave up cent chasing some time ago.

 

Me too.

 

Yeah, pretty much all of the banks in my area don't have coin counters anymore, even TD bank which has been my main source for coin roll hunting for years. I find hand rolling rather tedious and I'm certainly not paying for Coinstar. Oh well, guess i'm done with coin roll hunting .

 

Everything's pretty picked over these days anyway. Not worth the time or effort really.

 

they already have. they said the counters were not accurate. I bags from CU with other denominations. if its smaller than you stand a chance of getting it. lets not forget washers, foreign coins, game tokens, religious tokens and my personal favorite...the 3 guitar picks I have. the washers I could save and use on something. the religious tokens and foreign coins I can sell. the game tokens I can use (they are mostly from local arcades) but... WHAT AM I GOING TO DO WITH GUITAR PICKS???

 

learn to play guitar

 

"Forget all about that macho $hit and learn how to play guitar"

 

It sounds like the lot of you have had it way too easy with coin roll hunting and using coin counters. Access to coin counting machines is regional. Only one bank in my region that I was aware of had a coin-counting machine and it was taken away three years ago. Even when I had access to this machine I used it for the “non-commercial” purposes it was intended, to redeem reasonably small accumulations of change.

Anyway, I don't coin roll hunt like I used to but when I did I developed an efficient system of going through customer wrapped rolls (CWRs) or boxes of machine wrapped rolls (MWRs) and re-rolling them instead of just emptying them all out at once. With MWRs, I would typically go through one roll at a time and roll them back up without bothering to count them. With CWRs, I would not only go through the coins one roll at a time but I'd count them in groups of three. This way I would be able to set aside the difference from rolls that were overfilled. Before you knew it, I had gone through the coins, everything was rolled back up and ready to be taken to a bank. I would often bring in full boxes of re-rolled coins to banks and I would rotate the banks I dumped at so as not to raise the ire of the tellers.

Most were fine with this and only one time did a bank seal my coins in a bag to send off for verification (and they did not withhold the funds from me in the interim). For those who like to knock on Wells Fargo, I will just say Wells Fargo is probably the least likely bank to sass me about whether I have an account. I’m not just talking about branches I visit with regularity, either. Even when tellers ask me they just have me swipe my ATM card and they don’t waste a bunch of time logging every detail of my transaction like Chase does (which is by far the least customer friendly bank around because of this highly unpopular practice). At least from my experience in the past, tellers at Wells Fargo are generally fine and happy to go to the vault to get me boxes or fulfill my needs without issue.

Oh, and no, I don’t foresee a dramatic increase in buttons and slugs being found. I know it happens but out of the thousands of CWRs I’ve gone through, not once did I ever find a button, slug or guitar pick in them. So sit back, relax, and get ready to adapt to a new way of searching (if you so choose to continue doing so).