AMD Snacks Posted June 2, 2017 Share Posted June 2, 2017 Two things I just thought I'd share real quick, (1) I didn't know Canadian quarters are magnetic, so that's a quick way to check your bag of quarters to see if some mixed in, just run a magnet over them. (2) Chase finally got tired of me bringing in hundreds of dollars in wrapped coins and said they'll take the federal sealed coin bags with declared value. I've been searching high and low for a bank that would take them, and they all said they don't. I think they just haven't done it before and didn't want to try something new. Anyway, nothing ground breaking, but info I sure could've used so I figured i'd share. Link to comment Share on other sites More sharing options...
QuikVend Posted June 2, 2017 Share Posted June 2, 2017 Where do you get the bags at? With all the coins I process, finding a bank around me that would do the same could free up easily 10-15 hours a month for me. Link to comment Share on other sites More sharing options...
AMD Snacks Posted June 2, 2017 Author Share Posted June 2, 2017 So the next time I deposit will be my first time depositing, but for now they gave me a couple bags from chase. There's a number on the bags (i'll have to check when I get home) that says they'll give you free bags, but I have a strong feeling that's directed to chase. They'd probably give chase free bags. Either way I know you can buy them online amazon, ebay etc. They told me I can only deposit either $500 or $1000 per bag, those exact numbers, no in between, but still like you said, that saves a lot of time, which is super valuable to me these days. Link to comment Share on other sites More sharing options...
gumball guy Posted June 2, 2017 Share Posted June 2, 2017 I've used these for years. They work well. http://www.generalbanksupply.com/store/product/100799.101417/coinlok-plastic-coin-deposit-bags-12-x-20-clear-50-count.html Link to comment Share on other sites More sharing options...
QuikVend Posted June 2, 2017 Share Posted June 2, 2017 7 minutes ago, gumball guy said: I've used these for years. They work well. http://www.generalbanksupply.com/store/product/100799.101417/coinlok-plastic-coin-deposit-bags-12-x-20-clear-50-count.html Which bank do you use? Link to comment Share on other sites More sharing options...
gumball guy Posted June 2, 2017 Share Posted June 2, 2017 Huntington Bank and they do have a presence in Columbus, Ohio. They actually have Brinks pick up the bags and Brinks counts it at their facility. If that doesn't work for you geographically you're best bet is to just ask around at your local banks or call the bank's main office. At the branch level I could see them not wanting to mess with it but corporate may have a different opinion. You can also talk to other local vendors and see who they use (that's what I did years ago). Another option is to reach out to Brinks or another cash carrier service and see if they could point you to a bank in your area that handles large volume coin customers. Link to comment Share on other sites More sharing options...
QuikVend Posted June 3, 2017 Share Posted June 3, 2017 Hmm, I may need to talk to a branch. They have some around here in Cincinnati as well. I was looking for a bank account few months ago and the best I could find is one that had coin counting machines. Link to comment Share on other sites More sharing options...
AZVendor Posted June 3, 2017 Share Posted June 3, 2017 If your bank will accept sealed canvas bags then the bank will supply them to you as they are federal reserve bags. You need to seal them with crimped lead seals and put colored tags on the to indicate the coins inside. Quarters are $500 with orange tags, dimes are $1000 IIRC with green tags and nickles are $200 with blue tags. When you drop the bags off they should give you the same number of empty bags back. I used to get free tags and seals from my bank as well. I think they also gave me the seal crimper but you can buy the supplies online. Just get the canvas bags from the bank. The sealed bags will probably be sent to the fed with them verifying the counts. Link to comment Share on other sites More sharing options...
rodney69 Posted June 3, 2017 Share Posted June 3, 2017 Most use plastic bags now. Link to comment Share on other sites More sharing options...
QuikVend Posted June 28, 2017 Share Posted June 28, 2017 Well, I can confirm that Chase will take bags of coin. At least here in SW Ohio. They only do it for business customers though, so you'll need an EIN number. They accept the sealed plastic bags with the declared value written on them. The account I setup allows up to $20k/mo. Fee free and charges $2.50 for each additional $1k. Well worth it for the amount of coins I process each month. Link to comment Share on other sites More sharing options...
rodney69 Posted June 28, 2017 Share Posted June 28, 2017 I believe all chase do that. They send the bag in and then your account is credited 2 business days later? Something like that. Link to comment Share on other sites More sharing options...
QuikVend Posted June 28, 2017 Share Posted June 28, 2017 Yea, they send it to brinks, process then credit the account. My FCVG coverage is growing, so I had to find something different soon. Link to comment Share on other sites More sharing options...
jerrybrooksvendall Posted June 28, 2017 Share Posted June 28, 2017 Yea, they send it to brinks, process then credit the account. My FCVG coverage is growing, so I had to find something different soon. Hey when I meet with you on the weekend of the 7th.. You can fill me in on FCVG...Sent from my Z987 using Tapatalk Link to comment Share on other sites More sharing options...
jerrybrooksvendall Posted July 15, 2017 Share Posted July 15, 2017 Yea, they send it to brinks, process then credit the account. My FCVG coverage is growing, so I had to find something different soon. So you have to count the coins that your putting in the bag yourself? Or does brinks do that?Sent from my Z987 using Tapatalk Link to comment Share on other sites More sharing options...
QuikVend Posted July 15, 2017 Share Posted July 15, 2017 So you have to count the coins that your putting in the bag yourself? Or does brinks do that?Sent from my Z987 using TapatalkI count it then bag it and mark the bag. Brinks will count it again on their end as well. Sent from my SM-N920V using Tapatalk Link to comment Share on other sites More sharing options...
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