davco1 Posted November 3, 2013 Share Posted November 3, 2013 What bank is everyone using? And what is the coin process and fees involved? Link to comment Share on other sites More sharing options...
havending Posted November 3, 2013 Share Posted November 3, 2013 Most any bank will ship coin to federal reserve for you at no charge. If your bank is fee happy shop around Link to comment Share on other sites More sharing options...
Lake Cities Vending Posted November 3, 2013 Share Posted November 3, 2013 I use Wells Fargo. They charge 1 per cent for machine maintenance. Link to comment Share on other sites More sharing options...
chad Posted November 3, 2013 Share Posted November 3, 2013 I use Metro bank, They have a free coin counting machine in the lobby Link to comment Share on other sites More sharing options...
LandJGroup Posted November 3, 2013 Share Posted November 3, 2013 When I chose a bank I picked one that was highly accessible to my territory. I would love to use local small bank but don't wanna tug money everywhere. As hav mentioned you can drop loose coins off in one of those fed plastic bags. Most banks don't credit your account for like three business days and is got to be a grand worth of coins. Link to comment Share on other sites More sharing options...
sherlock Posted November 3, 2013 Share Posted November 3, 2013 I've gotten to where I only use credit unions. Banks are stupid about the fees they charge and service is usually crap. Some CU's offer a free coin counting machine in the lobby. That was one of the first things I looked at when shopping for a CU. The counter is great because your deposit is immediately available and the equipment only takes a couple minutes to count a huge load of coins. And contrary to what I've read about the accuracy of those bank coin-counters, I've visited quite a few different branches and the counters have never been inaccurate. Because of the amount of banking my business does with this CU, I also get free notary services, free cashiers-checks/money orders, and free copies of statements/checks. The CU offers the coin counter for all members...some of the additional services I listed are only for customers banking at a certain level. But that level of banking is not unattainable for customers...I'm no Mr. Big-Bucks and I qualified. Look at what the CU's offer in your area and go from there. Link to comment Share on other sites More sharing options...
LandJGroup Posted November 3, 2013 Share Posted November 3, 2013 I've gotten to where I only use credit unions. Banks are stupid about the fees they charge and service is usually crap. Some CU's offer a free coin counting machine in the lobby. That was one of the first things I looked at when shopping for a CU. The counter is great because your deposit is immediately available and the equipment only takes a couple minutes to count a huge load of coins. And contrary to what I've read about the accuracy of those bank coin-counters, I've visited quite a few different branches and the counters have never been inaccurate. Because of the amount of banking my business does with this CU, I also get free notary services, free cashiers-checks/money orders, and free copies of statements/checks. The CU offers the coin counter for all members...some of the additional services I listed are only for customers banking at a certain level. But that level of banking is not unattainable for customers...I'm no Mr. Big-Bucks and I qualified. Look at what the CU's offer in your area and go from there. I agree cu are great. I've got money market and savings with Redstone cu. You also get really good interest rates compared to a traditional bank. They have a coin counter too, but there are not enough branches for me to use exclusively. Link to comment Share on other sites More sharing options...
bulkjake Posted November 3, 2013 Share Posted November 3, 2013 I use Wells Fargo. When you link your Business Account to your personal account it's free. No monthly service charges OR coin deposit charges. They take the coin bags ($500 each) to the local coin vault for verification. They also give me free the plastic coin lok bags. The only requirement is that I set up an auto transfer of $75 into my savings every month. I have no idea why and I don't care. I just set up an auto transfer to transfer it back. Link to comment Share on other sites More sharing options...
GagesVending Posted November 3, 2013 Share Posted November 3, 2013 I use a local credit union. They don't charge me a dime. I make interest off of my savings account and have a debit card to buy product with from my checking. It's nice because I simply bring in a bag full of quarters and they run them through a machine and it prints a receipt. No coin rolling! Link to comment Share on other sites More sharing options...
havending Posted November 3, 2013 Share Posted November 3, 2013 I agree cu are great. I've got money market and savings with Redstone cu. You also get really good interest rates compared to a traditional bank. They have a coin counter too, but there are not enough branches for me to use exclusively. Many CU won't offer business accounts either. Be we do business with a big one here. We used to have a few banks and have to do sweeps but that was a pain. Now we just haul coin Link to comment Share on other sites More sharing options...
Nick505 Posted November 4, 2013 Share Posted November 4, 2013 Credit Union is the way to go. I use a local, but large credit union here. The have self service coin counters in the lobby of each branch. It prints a receipt and I hand this to the teller and into my account it goes. They also offer a business checking account for free to members who also have a normal checking account with them. Prior to my credit union having coin counting machines I used to take canvas bags into the casino and use their coin counting machine which was also free..go figure. I would make sure to spend only one dollar each to time be considered a customer. Link to comment Share on other sites More sharing options...
treadmill Posted November 4, 2013 Share Posted November 4, 2013 I use Chase. They take the bags and do not charge to count. Link to comment Share on other sites More sharing options...
TexasFreemason Posted November 4, 2013 Share Posted November 4, 2013 Sounds like a good excuse for my wife. "Honey, I have to go to the casino tonight to count my coins." Link to comment Share on other sites More sharing options...
Farmer_John Posted November 5, 2013 Share Posted November 5, 2013 TCF Federal. Counter in every lobby. Free with account of any sort. Link to comment Share on other sites More sharing options...
LandJGroup Posted November 5, 2013 Share Posted November 5, 2013 Ive got two routes I run every six weeks that both keep me away from my home town for each a week. My whole thing is I would never feel comfortable not depositing each day or two. A regional bank is must for us, and really makes since to me for any businesses in this that cover territories. Link to comment Share on other sites More sharing options...
davco1 Posted November 8, 2013 Author Share Posted November 8, 2013 Went with Bank of America. No charge to count coin. Same day deposit if I've counted. And, they're everywhere. Link to comment Share on other sites More sharing options...
PowerVendor Posted November 8, 2013 Share Posted November 8, 2013 Bank of America - fundamentals account. right to the federal reserve. don't screw with the rest. you will get thrown out. atleast i did. the credit unions around here have signs up stating: member only, non commercial use. Link to comment Share on other sites More sharing options...
Kalleberg Posted November 8, 2013 Share Posted November 8, 2013 I prefer one of our local credit unions as well. Their coin counting & sorting is free and they had no problems with a separate business account. Lots of other benefits but I like easy & cheap the best. Link to comment Share on other sites More sharing options...
Elite Vending Posted November 9, 2013 Share Posted November 9, 2013 I normally turn in my coins at my local credit union but part of my route is 200 miles from home and turn in my coins at one of the nearby casinos. Link to comment Share on other sites More sharing options...
raquel Posted November 11, 2013 Share Posted November 11, 2013 In Philadelphia, PA: Republic Bank and Philadelphia Federal Credit Union. Both have free coin counters in the lobby, and offer business accounts with no miminums or fees. Link to comment Share on other sites More sharing options...
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