My bank has a machine the will count the coins and give you a receipt that you take to the teller and have it deposited in your account, no sorting or wrapping needed.
That bank is a bit out of touch with the state of the art in their industry. For about a decade or so many of the banks I’ve seen no longer want coins in paper wrappers. Instead, they put them through a machine that counts them.
Too many banks have received wrappers short on coins or with slugs in them. If the bank doesn’t have a coin counter, they will bag them and have a main branch or federal reserve count them.
This seems a look back to when service was provided by the banks. I am amazed that so many comments indicate that some banks are actually taking coins (bulk). A few years back Jamie Dimon announced he was “improving” service to his customers by eliminating the coin counting machines. Not long after Chase made that announcement Citibank and others did the same.
How forcing customers to sort and wrap coins is beneficial to the customer escapes me. The questions raised by inclusion of slugs makes me wonder about the verification process. Would I be too cynical to think that the bank might just rotate the wrapped coins to their retail customers looking to stock cash drawers? Is there a presumption of accuracy in favor of the bank on either side of these transactions? If we receive cash from the bank do we now need to inspect for counterfeit paper and shorted roles?
I took a bag of quarters from our pop machine at work to be deposited in the employ’s benefit fund account. They told me I would have to roll them. I told them that I did not have to roll them as they were legal tender, and we had an account there. After arguing with the clerk for a moment, she called her supervisor over who told her to go ahead and run them through their counting machine. She turned around, plugged it in and dumped the coins in it. In less than ten seconds it gave her the total. The machine had sorted the coins into slots that apparently held the correct amount for each roll. I’m not sure but it looked like the machine had the ability to put the coins into the rolls also. Now, why didn’t they just do that to start with?
Gweedo -it's legal here- Murray about 2 years ago
Clarion call for rubes type insults. Rufe really messed up and the bank is fixin’ t’ close in ten minutes. Oh well, better luck t’morra, fellers.
Johnny Q Premium Member about 2 years ago
I think there’s a US law that when something costs more $25.00, you can’t pay for it with pennies!
fuzzbucket Premium Member about 2 years ago
Go to Amazon. You can buy a coin sorting and rolling machine for $180. A counterfeit bill checker is only $99.
iggyman about 2 years ago
Rufus and Joel need a “change” of ideas this time!
Susan00100 about 2 years ago
The people in line look ready to punch those yokels’ lights out!!
IMO, the teller should have let them!!
Darryl Heine about 2 years ago
Nothing to do with 9/11, of course.
t1warren about 2 years ago
My bank has a machine the will count the coins and give you a receipt that you take to the teller and have it deposited in your account, no sorting or wrapping needed.
BlitzMcD about 2 years ago
That bank is a bit out of touch with the state of the art in their industry. For about a decade or so many of the banks I’ve seen no longer want coins in paper wrappers. Instead, they put them through a machine that counts them.
drivingfuriously Premium Member about 2 years ago
I use credit cards for everything, but yesterday the vending machine only took cash or coins, wifi wasn’t working.
PoodleGroomer about 2 years ago
Too many banks have received wrappers short on coins or with slugs in them. If the bank doesn’t have a coin counter, they will bag them and have a main branch or federal reserve count them.
Grumpy Old Guy about 2 years ago
And that’s why coin-sorter redemption machines at supermarkets came to be…..
BeniHanna6 Premium Member about 2 years ago
Our bank will not accept rolls of coins, they want them loose.
Dirty Dragon about 2 years ago
$10 for 50¢ worth of quarters and 38 slugs is a good deal!
jollyjack about 2 years ago
This seems a look back to when service was provided by the banks. I am amazed that so many comments indicate that some banks are actually taking coins (bulk). A few years back Jamie Dimon announced he was “improving” service to his customers by eliminating the coin counting machines. Not long after Chase made that announcement Citibank and others did the same.
How forcing customers to sort and wrap coins is beneficial to the customer escapes me. The questions raised by inclusion of slugs makes me wonder about the verification process. Would I be too cynical to think that the bank might just rotate the wrapped coins to their retail customers looking to stock cash drawers? Is there a presumption of accuracy in favor of the bank on either side of these transactions? If we receive cash from the bank do we now need to inspect for counterfeit paper and shorted roles?
Jack Bell Premium Member about 2 years ago
I took a bag of quarters from our pop machine at work to be deposited in the employ’s benefit fund account. They told me I would have to roll them. I told them that I did not have to roll them as they were legal tender, and we had an account there. After arguing with the clerk for a moment, she called her supervisor over who told her to go ahead and run them through their counting machine. She turned around, plugged it in and dumped the coins in it. In less than ten seconds it gave her the total. The machine had sorted the coins into slots that apparently held the correct amount for each roll. I’m not sure but it looked like the machine had the ability to put the coins into the rolls also. Now, why didn’t they just do that to start with?
198.23.5.11 about 2 years ago
If it’s small and elusive,these two will have it get away from them.
May we never lose paying a debt to someone you hate in pennies.Counting them is their look out.