Coins direct from the armored car co.!

[Wes_]

Thought you all might find this interesting. Several weeks after informing me they would begin charging fees for ordering boxes, my bank STILL couldn't tell me how much the fees would be. After repeated inquiries, they finally referred me to the armored car company. I think it's just a local outfit, and wells fargo orders from them when they need coins in between weekly deliveries from Loomis. I called them, and apparently they have no problem dealing directly with individuals. They charge $5.25 per box of coins delivered, or $2.50 if you pick them up. There is no charge to return loose coin. I'm tempted to order a bunch of half boxes, just to get a better idea of what is floating around in my area. It wouldn't take much to cover the $2.50 fee on halves. Not such a good deal for smaller denominations though, especially pennies. This is also an intriguing dump possibility if I can find another bank or CU that will order halves free of charge.

 

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[schramm]

I have looked into this a few times over the years,but I always got the same response:We don't deal on an individual basis,only with large companies(Banks,retailers etc.) who have CONTRACTS with us for pickups and delivery's on a weekly basis.

They also said that they don't allow pickups at their facility's for obvious security concerns.

Did they mention why they would charge you $2.50 for every box YOU picked up?Was it for the box and wrapper costs?

It is my understanding that the cost for wrappers is about $.3 per box of halves and that the box itself cost's less than $.35,MUCH LESS if you are an armored company buying huge quantity's of wrapping paper and shipping boxes on a regular basis!

Also,will they deliver to your house for $5.25 per box?Seems risky

Why don't you try it both ways(pick up some boxes and have some delivered) and let us know how you make out?

Also,I would go ahead and order some boxes from your bank that says there is a "FEE" but won't tell you it,and see what they say when the boxes come in.

Couldn't hurt and you may find that there is no "FEE" and they are just trying to deter you from ordering through "their" branch

 

[Wes_]

The rolls and boxes themsleves are certainly covered by the $2.50, but there are also costs associated with the rolling machines, paying employees, etc. And, of course, they have to make some money on each transaction, or they would not be in business. Frankly, the place is close enough to my home that $2.75 extra for delivery is not worth it, especially considering that I am never home during business hours anyway. But it was implied that they would deliver to an individual at home. What's really strange about the bank is that they would not call the place themselves to find out, but made me do it instead! I'm not sure if that means they prefer I do my business directly with the armored co. or what. I'm tempted to go back in and say, "Yeah, the armored car place said the fee is ten cents per box".

 

[cyberdan]

...and say, "Yeah, the armored car place said the fee is ten cents per box".

good one and offer them 100% profit and pull out $500.20 and place an order.