Dump Bank Called, Tried to Charge Me, Ha Ha, NOT***MUST READ FOR NEWBIES**

[Silver_Fox]

Originally posted June 2007.

Dump Bank Called, Tried to Charge Me, Ha Ha, NOT

Yesterday morning the phone rang. Wifey says it’s Bank XXX. I said I know what they want. I’d just dumped another $945 through the coin machine the day before. The Customer Service rep asked if I was a merchant or coin dealer. I said no, just a coin collector. Well you have run $4600 through our machine since you started the account a month ago. Gave me some line about the count on the machine and we would like you to put them in bags of $500 with your account number in there and drop it off straight to the teller. Oh, and WE WILL HAVE TO START CHARGING YOU A FEE. Wrong statement. How much? Well I’m not sure, probably less than $10. How much? Let me check with our main vault and I will call back. I’ll be waiting.

Bank XXX lady calls back 20 min later. It will be $5 per $500 bag.

I already had my cheat sheet in front of me with my answer to that.

I tell her, when I opened my account, I specifically asked:
Is there unlimited use of the coin machine with no $$ limit and no fees; I was told that is correct. That is why I started this account. I don’t have a problem bringing it in bags but THERE WILL BE NO FEES, RIGHT. Also, is this $5 your trying to start a branch or corporate policy? (I mentioned the word Corporate to get her thinking what my next move might be). After a long pause she said; if that’s what they told you when you opened your account then there will be no fees. HMMM, imagine that. I said thanks and I will see you in a few days.

In conclusion:
If you open an account for a dump, ask these questions up front. Log the date, time and whom you talked to in case they want to TRY and change the rules later.

HAPPY HUNTING

 

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[kestrelia]

Re: Dump Bank Called, Tried to Charge Me, Ha Ha, NOT

Good story and nice handling of the situation. I think I've put about $20,000 through my bank's free coin counter in a couple of months. I dread the day when they try to pull the plug on it even though I try my best to be extra courteous to the staff. Fortunately a 2nd counter in my area is arriving in a few weeks.

-B

 

[cyberdan]

Re: Dump Bank Called, Tried to Charge Me, Ha Ha, NOT

You think your bank is bad. I joined a new bank about two months ago to test their boxes or to be a dump bank. So far out of 3 boxes I have found 2 - 40% halves. (the 1st box was actually $1.50 short and it was a brinks box with machine filled rolls) I think I have already decided not to order any more boxes.

When I first joined (Comerica Bank) it was a Saturday the next Monday morning I got a call from a "survey company" wondering how my experience with them went. I wrote it off as good customer service.

I went in last Friday(6-22) to pick up my last box and again Monday (6-25)morning I got a call from the same "survey company" I told him I was too busy to talk and call me next week. Yesterday (6-26) I got another call from a different person at the same company wanting to do the survey. Now I am getting upset! This is as bad as telemarketers. I am expecting another call today. Revenge time

I checked the phone number on my cell and it was the same number all times. I did a goggle on 205-758-4826 and it comes up to African Students Association at the univ of Alabama. I tried the number and no answer. The market research company they claim to work for is also in AL.

I also found a couple of web sites that have dozens of complaints about calls from this number. I just called the Univ of AL and the director of all the students associations told me they have already gotten the local police involved.

Does everybody hate telemarketers and surveytakers as much as I do?
listen to this, the guy is Tom Mabe and i hear him on the radio out here every now and then.
http://joshualowry.vox.com/library/audio/6a00c225203796f21900c2252ab8c18e1d.html
I couldn't do this cause I could not do it without breaking up.

 

[Lasivian]

Re: Dump Bank Called, Tried to Charge Me, Ha Ha, NOT

Hrrm, my credit union charged me a fee to use the coin machine. Around 2%.

I'm assuming you guys have no fees at all? If so please message me the name of your banks

 

[schramm]

Re: Dump Bank Called, Tried to Charge Me, Ha Ha, NOT

Hrrm, my credit union charged me a fee to use the coin machine. Around 2%.

I'm assuming you guys have no fees at all? If so please message me the name of your banks

Lasivian,Does your CU have the fee posted near the machine to let people know BEFORE they put the change in?

Do they have a higher fee for non-members OR is this the non-member fee?

I think your fee is the type that some banks charge because they CAN.

Awhitsters fee is the type I come across too often,It's the type where a bank realizes you are not a merchant/business(valuable to the bank) customer and that they don't want to "assist" you in your hobby and attempt to deter you by "making up" a fee and hoping that you will just stop coming in to "their" branch and move on to somewhere else.

Unfortunately it has worked on me because I refuse to pay the artificial fee AND I can't prove that it's not real and make them order me boxes .

I just don't believe that all the merchants/businesses pay a "per roll" fee or "per box" fee.

I have gotten boxes from a bank that I KNOW has a fee for such orders because it is spelled out in their "schedule of fees",However I made it clear with the BRANCH MANAGER when I opened the account that I like to search through coins and this is a BIG reason why I was opening the account.She said it wouldn't be a problem and that the fee is their just to cover themselves if a "situation" should arise.She didn't explain what a "situation" might be,but that what I described wouldn't be an issue and that they haven't "had" to enforce the fee policy on anybody yet.Unfortunately this bank is too out of the way for me to order a box on a regular basis.

Numerous other banks have told me they won't order anymore because of "the fee" but have yet to produce any documentation proving the fee .

 

[Wildlander3]

Re: Dump Bank Called, Tried to Charge Me, Ha Ha, NOT

You know, if you had to put all those coins back in the rolls before taking them back to the bank, how long would it take you? A half hour?

I do not think $5 is unreasonable for mass corn sorting.

I am a business owner, if I had a customer that caused me one-hour of work every day, I would be upset.

One hour, you bet. It is not just the time of the teller running the machine. It is the cost of the machine (itemized cost) and the maintenance on the machine. And the accounting and book keeping. There is more to it than just dumping coins into a machine and expecting it for free.

I am drawing the line here. I am a business owner. And I do take a few coins to the bank. And I have so far not been charged. But if people start abusing the banks in this way, they WILL establish policy and charge fees.

And that will piss off a lot more people than us coin roll hunters. We are creating our own problem here. The idea is to keep coin collecting with a positive public perception... and this mass dumping is not helping things any.

I would suggest that you talk to you bank BEFORE they set a fee. Tell them how may coins you would like to bring in. And then discuss what would be an appropriate fee.

Now, if you have half a million dollars in the bank, then your right to expect some service for free. But a lot of people only have a thousand or less. And a bank only makes about 10 percent of that per YEAR. They make $10-100 a year from a customer and if you want to take up hours and hours of their time and cost and maintenace fees, they have a legitimate case to call you on it.

If you are going to dump that many coins, pay them. It is only reasonable for the time and cost of the machine. As a business man, I take in about 50 dollars in change. For someone to come in with $900 is concerning and if they do it week after week... it is down right assinine.

If you are going to dump that many coins, pay for the extra time and service they give to you. Common guys, get a clue. If those charges come back on everyone, there is going to be a lot of people pissed off at coin collectors. And that dues us not good to the hobby. Public sentiment is important.

 

[TxTim]

Re: Dump Bank Called, Tried to Charge Me, Ha Ha, NOT

You know, if you had to put all those coins back in the rolls before taking them back to the bank, how long would it take you? A half hour?

I do not think $5 is unreasonable for mass corn sorting.

I am a business owner, if I had a customer that caused me one-hour of work every day, I would be upset.

One hour, you bet. It is not just the time of the teller running the machine. It is the cost of the machine (itemized cost) and the maintenance on the machine. And the accounting and book keeping. There is more to it than just dumping coins into a machine and expecting it for free.

I am drawing the line here. I am a business owner. And I do take a few coins to the bank. And I have so far not been charged. But if people start abusing the banks in this way, they WILL establish policy and charge fees.

And that will piss off a lot more people than us coin roll hunters. We are creating our own problem here. The idea is to keep coin collecting with a positive public perception... and this mass dumping is not helping things any.

I would suggest that you talk to you bank BEFORE they set a fee. Tell them how may coins you would like to bring in. And then discuss what would be an appropriate fee.

Now, if you have half a million dollars in the bank, then your right to expect some service for free. But a lot of people only have a thousand or less. And a bank only makes about 10 percent of that per YEAR. They make $10-100 a year from a customer and if you want to take up hours and hours of their time and cost and maintenace fees, they have a legitimate case to call you on it.

If you are going to dump that many coins, pay them. It is only reasonable for the time and cost of the machine. As a business man, I take in about 50 dollars in change. For someone to come in with $900 is concerning and if they do it week after week... it is down right assinine.

If you are going to dump that many coins, pay for the extra time and service they give to you. Common guys, get a clue. If those charges come back on everyone, there is going to be a lot of people pissed off at coin collectors. And that dues us not good to the hobby. Public sentiment is important.

You sound like a bank employee.
Banks with counters around here have them to entice new customers with spare change- no strings attached.
I do the Awhitster thing and make sure they will order coins and take my dumps before the account is opened.
Most are so desperate for new accounts that they are happy to fulfill the request.
$900 a week? - Ha! how about $5K? Bank balance: <$500.
Most of the branches I deal with welcome me when I dump - donuts and kind words go a long way...
Very good public sentiment here.
If you feel you're getting screwed, close your business account and try our methods.

 

[scrounger d detector collector]

Re: Dump Bank Called, Tried to Charge Me, Ha Ha, NOT

wildlander i respectfully disagree.....dont feel sorry for banks.they have millions of ways to make enough to stay in biz,without charging coin fees. i ask u. is paying under 1 per cent interest on billions of dollars in personal checking accounts fair? many banks have simplified accounts that pay no interest. how bout sneaky account maintenence fees or inactivity fees that eat up a small account til its gone in cases where the owner forgets the account or moves and doesnt give proper forwarding info. no thankee. i will push this as far as i can for free.i will return thousands of coins anywhere i can for free. im sure others can think of many other unfair bank practices.go ahead and post them if u agree w me. also buddy be careful how u use the a word around here i dont appreciate it. souns like ur a penny hunter and prob have a good job. try to remember that everyone may not be as fortunate as u.

 

[hollowpointred]

Re: Dump Bank Called, Tried to Charge Me, Ha Ha, NOT

You know, if you had to put all those coins back in the rolls before taking them back to the bank, how long would it take you? A half hour?

I do not think $5 is unreasonable for mass corn sorting.

I am a business owner, if I had a customer that caused me one-hour of work every day, I would be upset.

One hour, you bet. It is not just the time of the teller running the machine. It is the cost of the machine (itemized cost) and the maintenance on the machine. And the accounting and book keeping. There is more to it than just dumping coins into a machine and expecting it for free.

I am drawing the line here. I am a business owner. And I do take a few coins to the bank. And I have so far not been charged. But if people start abusing the banks in this way, they WILL establish policy and charge fees.

And that will piss off a lot more people than us coin roll hunters. We are creating our own problem here. The idea is to keep coin collecting with a positive public perception... and this mass dumping is not helping things any.

I would suggest that you talk to you bank BEFORE they set a fee. Tell them how may coins you would like to bring in. And then discuss what would be an appropriate fee.

Now, if you have half a million dollars in the bank, then your right to expect some service for free. But a lot of people only have a thousand or less. And a bank only makes about 10 percent of that per YEAR. They make $10-100 a year from a customer and if you want to take up hours and hours of their time and cost and maintenace fees, they have a legitimate case to call you on it.

If you are going to dump that many coins, pay them. It is only reasonable for the time and cost of the machine. As a business man, I take in about 50 dollars in change. For someone to come in with $900 is concerning and if they do it week after week... it is down right assinine.

If you are going to dump that many coins, pay for the extra time and service they give to you. Common guys, get a clue. If those charges come back on everyone, there is going to be a lot of people pissed off at coin collectors. And that dues us not good to the hobby. Public sentiment is important.

do you have any idea how much money these banks make off of fees already?! let them live up to their word for a change. the day i start paying a fee to deposit american currency into their bank is the day id stop going to that bank. they said in the beginning there would be no fee. just watch the bastards and make sure they dont try to slip in in anyway.

 

[Scott (Mich)]

Re: Dump Bank Called, Tried to Charge Me, Ha Ha, NOT

You know, if you had to put all those coins back in the rolls before taking them back to the bank, how long would it take you? A half hour?

I do not think $5 is unreasonable for mass corn sorting......

If you are going to dump that many coins, pay for the extra time and service they give to you. Common guys, get a clue. If those charges come back on everyone, there is going to be a lot of people pissed off at coin collectors. And that dues us not good to the hobby. Public sentiment is important.

Wildlander3, I think you have stirred up a hornets nest here with your "Get a clue" comment.

All the banks in my area require your name and account or phone number on each roll of coins turned in. I do not think I would be CRH-ing if I had to do that every time.

When I spoke to my banker I had originally asked if they knew any place that had a coin machine and he told me that theirs was in the basement which cannot be used by the public. I asked about depositing large amounts of coins and he told me as long as they are for deposit there is no fee. So I take my coins up to the counter and drop them off. I have even asked the tellers if they need me to carry them someplace else in the bank as each box weighs 25lbs but they always smile and say "nope, we'll take care of them".

As far as "getting a clue", nope, no thanks already have mine.

I have paid many a bank fee in the past for trivial things so I do not feel bad about having them do a little extra work for me. I doubt that they work overtime when they go to process my change. If they do I consider it as providing them job security.

One of the engineers at my work place is married to the former manager of my bank (she now manages a different branch) and I had asked him to ask her about someone making large deposits of coins and she said it is not a problem. I ask him to listen if there is any complaining in the grape vine about me but there has been none so far.

Just imagine how many coins are needed by large retailers and how many they must bring in to be processed. I can see a bank trying to charge for coin deposits by non-business people, if that ever happens I will start doing the coin hunting through my wife's business account. I think many CRH-ers would go and create a LLC or PLC type account if fees started to pop up.

A bank being pissed off at coin collectors? I think not as we coin collectors also have bank accounts that a bank would not want to take a chance on losing.

Happy Hunting,

Scott (Mid-Mich)

 

[Silver Stripe]

Re: Dump Bank Called, Tried to Charge Me, Ha Ha, NOT

wildlander i respectfully disagree.....dont feel sorry for banks.they have millions of ways to make enough to stay in biz,without charging coin fees. i ask u. is paying under 1 per cent interest on billions of dollars in personal checking accounts fair? many banks have simplified accounts that pay no interest. how bout sneaky account maintenence fees or inactivity fees that eat up a small account til its gone in cases where the owner forgets the account or moves and doesnt give proper forwarding info. no thankee. i will push this as far as i can for free.i will return thousands of coins anywhere i can for free. im sure others can think of many other unfair bank practices.go ahead and post them if u agree w me. also buddy be careful how u use the a word around here i dont appreciate it. souns like ur a penny hunter and prob have a good job. try to remember that everyone may not be as fortunate as u.

Here ya go. HH Mark
http://www.notjustnotes.ws/howbanksrobyou.htm

 

[GMan00001]

Re: Dump Bank Called, Tried to Charge Me, Ha Ha, NOT

If you are going to dump that many coins, pay for the extra time and service they give to you. Common guys, get a clue. If those charges come back on everyone, there is going to be a lot of people pissed off at coin collectors. And that dues us not good to the hobby. Public sentiment is important.

I primarily use the free self-service coin machines, 99% of the time spent is mine. I have dumped over 25000 coins at one time and the machine still didn't fill up. Yes it costs them money to change the bin when it does fill, but that doesn't happen very often and they pay to have the bins changed on a regular basis already (full or not) so the bank isn't paying much of an extra fee whether I am dumping or not.

Different banks will have different policies, but as far as I can tell, most of my dumping is a fixed fee for the bank already and they don't spend much extra time so they really don't care.

 

[Silver_Fox]

Re: Dump Bank Called, Tried to Charge Me, Ha Ha, NOT

Different banks will have different policies, but as far as I can tell, most of my dumping is a fixed fee for the bank already and they don't spend much extra time so they really don't care.

And I don't care either. If they weren't making money they wouldn't be in business. In the overall scheme of things, I don't think CRHers are going to bring down the banking system. That is reserved for the people with $$$ on Wall Street.

 

[TxTim]

Re: Dump Bank Called, Tried to Charge Me, Ha Ha, NOT

"And I don't care either. If they weren't making money they wouldn't be in business. In the overall scheme of things, I don't think CRHers are going to bring down the banking system. That is reserved for the people with $$$ on Wall Street."


Yeah - I remember bailing out a few S & L's in the early eighties with my tax dollars - and who knows how we'll be affected by this subprime mortgage business. The banks owe us quite a bit for keeping them afloat. A few extra coins through their system is spit in the ocean.

 

[Silver_Fox]

To the top for you newbies to read. Don't let your bank push you around. HH, Awhitster

 

[tanner]

ive had problems dumping....smaller local bank....branch manager chased me down after about 6 months of once a week dumping. nothing huge just $500 bucks. she said that she gets charged to said them back out.....i said yeah and......she said were going to have to start charging .10 cents per roll...i said does that apply to all forms of coin she said no just halves.....im kinda a live wire so this didnt go over well....i asked if i could see the .10 cent a roll fee in writing....she wasn't able to provide it...i said that half dollars are currency just like any other coin. it's not my problem that people dont use them. she wouldnt budge. i walked out as she was still telling me about how much is costs them to send it back (this is after i was lied to and hit with a bogus 8 buck fee for something else). seemed like a big deal. like my $500 of halves could potentially bring the bank to it's knees. i said i don't need this crap. walked in the next day after i cooled off. took out every single cent i had. walked across the street and opened an account across the street that has a million more braches...coin counters..and ability to aquire coin.

 

[Silver_Fox]

ive had problems dumping....smaller local bank....branch manager chased me down after about 6 months of once a week dumping. nothing huge just $500 bucks. she said that she gets charged to said them back out.....i said yeah and......she said were going to have to start charging .10 cents per roll...i said does that apply to all forms of coin she said no just halves.....im kinda a live wire so this didnt go over well....i asked if i could see the .10 cent a roll fee in writing....she wasn't able to provide it...i said that half dollars are currency just like any other coin. it's not my problem that people dont use them. she wouldnt budge. i walked out as she was still telling me about how much is costs them to send it back (this is after i was lied to and hit with a bogus 8 buck fee for something else). seemed like a big deal. like my $500 of halves could potentially bring the bank to it's knees. i said i don't need this crap. walked in the next day after i cooled off. took out every single cent i had. walked across the street and opened an account across the street that has a million more braches...coin counters..and ability to aquire coin.

I'd have asked to see a higher up or emailed corporate.

 

[solariscool]

great thread, thanks for the bump