Well it fineally happened. I have been banned.......

[cyberdan]

Last night on my way home from work I stopped at one of my Well Fargo dump banks. (I use four different branches) The cashier smiled as I passed through 28 rolls of halves and then she turned around and left. She came back in 30 seconds with a VERY LARGE older lady that told me I can no longer bring rolls to "her" branch. I asked why and she said my halves have filled up her vault.

I kind of take that as a complement. I have single handedly filled up a Wells Fargo bank vault.

She did say if I wanted to bring them in bags I could, but they have to be in $500 or $1000 bags. She also said they did not have any bags and to go across the street and buy them at Staples.

This is not the biggest WF in the area, that is why I only bring in about 250 at a time. Sounds like she is inviting me to double or even quadruple my deposits. May take her up on it and then remind her of what she told me. She looked strong enough to lift a $1000 bag. She would tip the scales at $6000

After all this the teller started pushing the rolls back out her little window. They would not even take a deposit one last time.

 

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[jeff of pa]

OH they have room for $1000.00 Bags
But not $100.00 in Rolls ? :P

 

[jemsdca]

As far as I understand it they cannot legally refuse a deposit as long as it is not counterfeit. I had a bank piss me off… now I drop 1000-2000$ every day there. I now draw a little happy face on all my roles. I am just waiting for her to ask, “Why do you draw that face on the roles” I will say “ because you always look so upset”. My goal is to find in writing, either from a government web page or the Citibank’s page it’s illegal to refuse my deposit, so I can take that will me for every deposit.

 

[cyberdan]

OH they have room for $1000.00 Bags
But not $100.00 in Rolls ? :P

I was wondering the same thing. I still have not decided if I will bring bags because I know my count will be accurate. I do not trust counting machines. If they say I am short there is nothing I can do, they will automatically deduct the shortage from my account.

 

[SoCalMark]

Hey Cyberdan,

I dump at Wells Fargo as well, but never rolls...$500.00 bags only. They never say a word. I noticed the other day 3 bags of quarters sitting just inside the locked door. I asked about them and she said a newpaper guy brings them in every week...hmmm. I dump at the same banks you do as well as a few in the Riverside area. So far...no problems. No need to buy bags either. they are free to account holders.

 

[cyberdan]

Hey Cyberdan,

I dump at Wells Fargo as well, but never rolls...$500.00 bags only. They never say a word. I noticed the other day 3 bags of quarters sitting just inside the locked door. I asked about them and she said a newpaper guy brings them in every week...hmmm. I dump at the same banks you do as well as a few in the Riverside area. So far...no problems. No need to buy bags either. they are free to account holders.

Mark, This WF is almost right across the street from my BofA. You will know it. Yes, I know the bags are free. Other branches have asked if I want some. I think she just didn't like me filling up her little vault.

How are the counting machines? Do you think they are accurate?

Have you thought about buying one of those quarter bags? If the paperboy did all his deliveries in Liesure Village (or Sun City) I would jump on it.

(For those of you not from this area those are HUGE retirement cities full of people who lived in the days of barbers, morgans & walking liberties.)

 

[SoCalMark]

I have been dumping bags for a while now and have not seen any adjustments on my account, so based on that I have to say yes the machines are pretty accurate. I am going to try to buy a bag of the quarters but they may not sell them to me until they are verified. I don't believe Wells Fargo has a counting machine so we'll see. Besides I would hate to get short changed and have no recourse.

I don't think they like the rolled coins because they have to open them and put them in bags. Anyway it's a lot easier (faster) to search if they don't have to be rerolled. BTW I tried nickels last night for the first time and got a 35s buff in my first roll!!

 

[bigtime400]

You say they cant LEGALLY refuse a deposit? Is that true? What if I were to pay a truck payment with them? or a mortgage payment? I have a bank that is especially nasty and really want to stick it to them.

 

[cocrh]

Bigtime400 is going to pull a Kramer Cool!! Wish I could be there to see it!! Put it in your pockets and take it out handfuls at a time. Priceless!!

You say they cant LEGALLY refuse a deposit? Is that true? What if I were to pay a truck payment with them? or a mortgage payment? I have a bank that is especially nasty and really want to stick it to them.

 

[generik]

I paid my mortgage this week in rolls of every denomination. I asked the tellers why they had on the sour-puss. One got kind of nasty and said that they would prefer bags of coin not rolls. Sooooo.... rolls for her again next week



PS. Mark your avatar made me look foolish. I was laughing so hard when my wife had friends visiting.

 

[LJ]

I am also under the impression that they can not refuse it if you have an account with them. If you wanted to pursure it further, I would go to the top of the food chain.

I know my time is coming soon even though I spread the dumps around. Eventually, it will come up.

Good luck Dan and keep us posted.

 

[jemsdca]

I found it.

Section 31 U.S.C. 5103

“United States coins and currency (including Federal reserve notes and circulating notes of Federal reserve banks and national banks) are legal tender for all debts, public charges, taxes, and dues. Foreign gold or silver coins are not legal tender for debts.”

http://www.law.cornell.edu/uscode/31/usc_sec_31_00005103----000-.html


Debt definition
n.
1. Something owed, such as money, goods, or services.
2.
a. An obligation or liability to pay or render something to someone else.
b. The condition of owing:
3. An offense requiring forgiveness or reparation; a trespass.”
http://www.yourdictionary.com/


Fee definition
n.
1. A fixed sum charged, as by an institution or by law, for a privilege:
2. A charge for professional services:
3. A tip; a gratuity.
4. Law an inherited or heritable estate in land.
5.
a. In feudal law, an estate in land granted by a lord to his vassal on condition of homage and service. Also called feud2, fief.
b. The land so held.”


So if a bank charges you in any way to have an account, then they legally must take it. This is because if they charge you, all your deposit is an advanced payment for a debt.

 

[bigtime400]

well ok so I may be able to get them on the debt thing..... But I dont have a $5000 dollar a week payment on anything! Anything about deposits?

 

[Jeffro]

Legal tender is legal tender. There was once a bank manager on here that told us the same thing, it can't be refused if you want to make a deposit.

 

[jemsdca]

Don’t you see that if they charge you 10 a month the in 500 months your 5000$ will be gone, so think of it as a very advanced payment on a futuristic debt. Along with that fact that it’s against bank policy, but with that it’s ageist the law. If all else fails say you’ll sue, and most likely win.

 

[Immy]

Good hunting there jemsdca!

However...

The following is from Coin Clinic: 1,001 Frequently Asked Questions by Alan Herbert:

"Q: What are the current statutory limits on the number of coins that can be accepted as legal tender?

The current law makes all U.S. coins legal tender, but is silent on any limit. The catch is that there is no provision in the law which requires anyone to accept the tender. In a recent case, the Miami post office had refused to accept $100 notes by posting a sign to that effect. In theory at least, anyone can demand to be paid in paper money, only a certain denomination, etc."

So it sounds like all this bank has to do is produce something in writing that says "We do not accept loan payments, mortgage payments, etc. in coin."

 

[drink-7-up]

I think some banks sell money orders right?
So take your coins in ,ask for a m.o. and make your
truck payment out with that.

 

[jemsdca]

Only privately can someone do that, and it would have to be storewide or in this case bank-wide, witch would mean they would have to stop take’n coin from any client. With most bank policies they cant do that. So either their being (Chose the judgmental slur of your chose) or they have to take your coin. So all you would have to do is sue them for the lost profits and spent time. I really think that you would win.

 

[teverly]

My bank bank told me i could roll them if i want to,but they are required to unroll them and run them thru there counter/sorter to keep track of the amount.
So i just put them in a large plastic freezer bag and take them in......
Guess like everything else,some people may try and cheat them so they have to cover themselves by sorting and counting....

 

[jemsdca]

My bank makes me role them, I would love not to have to role them. Loads less work.