"We Cant take those"

[scotty1418]

"We Can't take those"

In my ever-constant struggle with coin-roll hunting, I came across this situation today.

I was turning in a box of halves at my dump bank (where I have an account) and they got very fussy about not accepting them (for a deposit) because Brinks mentioned 'fees' to them.

I know it's hard enough getting the halves in the first place, but has anyone had difficulty off-loading them into a bank where they have an account?

Thanks again
Scott

 

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[alabamadan]

Re: "We Can't take those"

I think I would have to argue that they are still legal tender and as such the bank doesn't have a chance. Just deposit them.

 

[jim4silver]

Re: "We Can't take those"

If they don't have a coin counter and you have them rolled, I could not imagine they would refuse them. They may not want to take them, but I bet they will.

Jim

 

[Diver_Down]

Re: "We Can't take those"

They can't refuse them, but they also don't have to accept large quantities for deposit without assessing a fee. Unless that fee was in the terms when you opened your account, then they shouldn't assess the fee without notifying you of a change in the terms. In which case, you have the right to refuse (closing your account). I get this about once a month. I ask them for clarification if they are refusing legal tender for deposit. They always capitulate.

 

[Darth Walker]

Re: "We Can't take those"

Off course they can refuse. Not that I am on the banks side but just what is reality.

Ask for a booklet of service charges and you will see

Coin Counting Fee $XX
Paper Currency Deposits over $XX Fee $XX
Change Order (Asking for boxes) Fee $XX

The fact that money is legal tender does not mean It has to be accepted. It is discretionary.

It is accepted usually as good faith that the government will back it up but not more.

If any of you know atorneys at law ask the question.

DW




(Business Law)

 

[OmegaMan]

Re: "We Can't take those"

I have been at this a long time and heard every excuse that banks give.
Eventually they all want to charge a fee, that's when you move on to the
next bank and start over.
This is a hobby and the banks should charge us for processing the coin
The trick is to do this for as cheap as possible if not for free.

Also if you try depositing $200 each time that might work.

Just my two cents

 

[Mentone Grizz]

Re: "We Can't take those"

I try to keep a wide variety of accounts open at multiple banks and credit unions. Fortunately, I am able to dump without fees (and without re-rolling) at my primary dump bank, but I step carefully and smile a lot to the tellers! I am able to painlessly dump coin into their Coinstar machine myself, dropping in $1000 to $1500 several times a week. That machine is my baby, and I take good care of it. Occasionally I am forced to dump at my own credit union where I keep my main personal accounts. They accepted the re-rolled coin in the boxes for a period of time without charging fees, but after about 6 times (only six boxes), they said they would have to charge a fee. I kind of threw a fit, but they showed me the specific charge in the fee schedule. It calls for a fee of $0.05 per roll in any deposit exceeding 11 rolls. This boils down to a $2.00 fee per box, and I have paid it a few times when I needed immediate cash for more boxes. Not too bad, but I prefer to use the coin counter.
- Grizz

 

[47thelement]

Re: "We Can't take those"

I use the machine when ever possible. And make sure my coin bag are free of anything but coins. Any coin that stick in the machine I consider it a service charge (within reason). Whenever I need to Roll dump I take off the tellers. My current branch manager likes quizno's subs so He'll get one today cause he's allowing me unlimited dumps

 

[scotty1418]

Re: "We Can't take those"

I thought I'd update this with an interesting twist as I spoke to the branch manager today in the hopes of finding a compromise (only bringing in $100-200 at a time, etc).

She told me that they will not accept any half dollars any more due to the fees it will cost them to ship the coin out.

Definitely a reason for me to move on, but has anyone come across such an aggressive policy before - of completely refusing halves in any quantity?

I do admit that for about 3 weeks I brought a box in a week, but this still isn't a major quantity.

Thanks for your input