sterling Posted March 24, 2010 Share Posted March 24, 2010 I bank at Chase, for now. I now have enough sales to not want to roll quarters anymore. So I bought a scale $300, bought $53 worth of the bank "Chase" bags from Superior bag company and accepted the fact that they are going to charge me $2.50 for processing each bag I deposit. Ok I'll accept the costs of the scale, the bags, and the processing fees to save a bunch of time in handling and counting quarters. Here is the kicker. I was told that since they send out the coin to (somebody) that they can not give me a receipt stating the deposited estimate and that the CASH I just gave them will not be available for my use for THREE TO SEVEN DAYS! U.S Bank makes the funds available immediately and can adjust your deposited amount if there is a discrepency. I find it hard to believe a bank the size of Chase can't do this as well. Does anyone deposit baged coins with Chase, and if so is this really their procedure or did I just get a teller that is clueless? Link to comment Share on other sites More sharing options...
Clifford84420 Posted March 24, 2010 Share Posted March 24, 2010 WOW Really? Thankfully my credit union has a FREE coinstar "type" machine. I walk in, drop a LOAD of change, within minutes it is all counted, prints a receipt.... I goto the teller, deposit or get the cash. Simple as that, wish they all worked this way. Link to comment Share on other sites More sharing options...
sherlock Posted March 24, 2010 Share Posted March 24, 2010 WOW Really? Thankfully my credit union has a FREE coinstar "type" machine. I walk in, drop a LOAD of change, within minutes it is all counted, prints a receipt.... I goto the teller, deposit or get the cash. Simple as that, wish they all worked this way. That's exactly the way my credit union works. Someone here stated their credit union coin counter was ripping him off by quite a bit so they bought their own counter. I really think that's not normally the case at credit unions. I count my money before going to the bank because of that person's experience and have NEVER had my local credit union's counter rob me of even 1 quarter. I know this doesn't answer your question sterling, but... It may be worth the effort/pain to change banks if Chase is going charge you to give them your money AND then freeze it for a week on top of that. Even if someone here can help you avoid the freeze on your deposit, $2.50 per bag service charges will add up quick -- consider changing banks. Link to comment Share on other sites More sharing options...
ghostridergt Posted March 24, 2010 Share Posted March 24, 2010 At least your chase accepts bagged loose coin Sterling. Mine HAS to have it rolled before they accept them. Even at my size rolling that many quarters is a pain in the golpher hole. I heard CapOne is pretty good about loose coin, so I'll be checking them out tomm and will report back. Link to comment Share on other sites More sharing options...
Rick Falcon Posted March 24, 2010 Share Posted March 24, 2010 Sterling check to see if you have a TD. bank nearby you could drop your change into the machine it will count it for you free of charge and all you have to do is bring the receipt up to the teller.the beauty behind it is that you don't even have to bank with them. Hope this helps. Good Luck and Good selling! Link to comment Share on other sites More sharing options...
sterling Posted March 24, 2010 Author Share Posted March 24, 2010 I'm in San Diego. I doubt there is a TD bank in the county since I don't know what that means. Link to comment Share on other sites More sharing options...
mission vending Posted March 24, 2010 Share Posted March 24, 2010 Stay away from the big monster mega banks. Go to a small local bank or credit where they want and appreciate your business. My bank does charge a 1% fee, but I bring it in mixed and in large bags that have 800-1000 in them. They know what day I'm depositing my coin (cash is nightly with no fee) and have extra hands available to run it. I just drop it and go and within the hour I get a call telling me how much it was. Link to comment Share on other sites More sharing options...
dperry Posted March 24, 2010 Share Posted March 24, 2010 I've made bulk deposits with my local Wells Fargo and they have that same policy. The funds don't get deposited for 7-10 business days. However, I stopped doing it this way when it turns out the teller didn't put in the correct information on the bag, so it sat there at the office for 2 weeks until I went down to try and find out why I haven't seen my deposit yet. I was pretty livid. I stopped doing bulk deposits because of that, and now roll my own. Link to comment Share on other sites More sharing options...
dperry Posted March 24, 2010 Share Posted March 24, 2010 It seems very strange to me that if the local grocery store can get an accurate read on loose change via the coinstar machine, that the least a bank can do is the exact same thing. How hard would it be to put a coinstar-style machine in at least one local branch? Link to comment Share on other sites More sharing options...
havending Posted March 24, 2010 Share Posted March 24, 2010 The best way to deposit raw coin is to do Fed. reserve coin drop. You deposit 1,000 in quarters at a time in speical fed bags. My bank deposits my money into my account as soon as i drop it off. Link to comment Share on other sites More sharing options...
joebob051977 Posted March 25, 2010 Share Posted March 25, 2010 NOPE! My bank says bring in all the coins unwrapped, that's how they like it. And that is what I do. There's nothing like slamming a bag full of quarters in front of the bank teller for counting. Free coin counting was one of my requirements when I chose a bank. Link to comment Share on other sites More sharing options...
dperry Posted March 25, 2010 Share Posted March 25, 2010 NOPE! My bank says bring in all the coins unwrapped, that's how they like it. And that is what I do. There's nothing like slamming a bag full of quarters in front of the bank teller for counting. Free coin counting was one of my requirements when I chose a bank. What bank? Link to comment Share on other sites More sharing options...
agrantha Posted March 25, 2010 Share Posted March 25, 2010 I double Daryle...Yes, What bank? Link to comment Share on other sites More sharing options...
timberframe50 Posted March 25, 2010 Share Posted March 25, 2010 I actually bring them in loose in buckets, the bank lost my bag and the new on they gave me is to small. This is a local bank, 20 locations or so, not on of the National players. No charge for the service. Link to comment Share on other sites More sharing options...
g_r_vending Posted March 25, 2010 Share Posted March 25, 2010 I use Empower Federal Credit Union in NY and we have a free coin counting machine, only reason I even bank there, poor girls have to hand count 800 one dollar bills from us each week because they wont buy them a good bill counter LOL Link to comment Share on other sites More sharing options...
sbishop Posted March 25, 2010 Share Posted March 25, 2010 WOW Really? Thankfully my credit union has a FREE coinstar "type" machine. I walk in, drop a LOAD of change, within minutes it is all counted, prints a receipt.... I goto the teller, deposit or get the cash. Simple as that, wish they all worked this way. That's what I do also! Link to comment Share on other sites More sharing options...
joebob051977 Posted March 26, 2010 Share Posted March 26, 2010 I use Old National Bank. Link to comment Share on other sites More sharing options...
T BIRD Posted March 27, 2010 Share Posted March 27, 2010 I bank at Chase, for now. I now have enough sales to not want to roll quarters anymore. So I bought a scale $300, bought $53 worth of the bank "Chase" bags from Superior bag company and accepted the fact that they are going to charge me $2.50 for processing each bag I deposit. Ok I'll accept the costs of the scale, the bags, and the processing fees to save a bunch of time in handling and counting quarters. Here is the kicker. I was told that since they send out the coin to (somebody) that they can not give me a receipt stating the deposited estimate and that the CASH I just gave them will not be available for my use for THREE TO SEVEN DAYS! U.S Bank makes the funds available immediately and can adjust your deposited amount if there is a discrepency. I find it hard to believe a bank the size of Chase can't do this as well. Does anyone deposit baged coins with Chase, and if so is this really their procedure or did I just get a teller that is clueless? I forgot where you live Sterling. Why don't you try a Capital One bank. They changed up on their policies last year in terms of small business' and taking in quarters. I believe the change is for every Cap 1 bank. You can bring them in $500 bags. And they send the bags out once per week. So the trick is to get the bags to the bank the day before they go out so this way your account gets credited quicker. Otherwise you have to wait up to a week for the money to appear in your account. Chase sounds so ridiculous. Link to comment Share on other sites More sharing options...
amc-vending Posted March 27, 2010 Share Posted March 27, 2010 I switched over to Chase from Bank of America, Chase policy is bring coins in bulk and I get credit for the amount of deposit on the sopt then they send out for verifcation and make any adjustments if needed to my account after they verify. BOA policy was if I bring it in rolled I get credit right then but if I bring in bulk coins they send out for verication then they deposit the amount they count to my account about a week later. Link to comment Share on other sites More sharing options...
Hillbilly Posted March 27, 2010 Share Posted March 27, 2010 I just push the wheelbarrow in the double doors and they take over and do the rest. Get a deposit slip in about 5 minutes. Hillbilly Link to comment Share on other sites More sharing options...
amc-vending Posted March 27, 2010 Share Posted March 27, 2010 lol dont I wish Link to comment Share on other sites More sharing options...
lurtsman Posted March 27, 2010 Share Posted March 27, 2010 I opened an account at my local credit union only after verifying that they had a coin counting machine that I could use at no charge. There would be no monthly/yearly fees, and I would be able to do an online transfer initiated from my primary bank to move the funds into my real accounts. Link to comment Share on other sites More sharing options...
sterling Posted March 27, 2010 Author Share Posted March 27, 2010 I went back to the Chase branch that I know the manager. She called be back in about an hour and a half and said that I was first person to bring them a bag of quarters, it was right at 6:00 and they had no idea on how to do it. They were looking up policy on the computer. So here is the deal, there is a way that they can credit my account right on the spot and adjust it if necessary after verification. She asked me to call in advance of coming it sounded like the vault manager had to be there to do it. So Chase may not suck so bad after all. @ Johnny I'm in San Diego between Gary and I we are taking over this county! Link to comment Share on other sites More sharing options...
agrantha Posted March 27, 2010 Share Posted March 27, 2010 Sterling Do you bulk full time? Thanks, Anton Link to comment Share on other sites More sharing options...
sterling Posted March 27, 2010 Author Share Posted March 27, 2010 I'm part time. My monthly nut is too big to do it full time with only 90 machines. Link to comment Share on other sites More sharing options...
Recommended Posts
Create an account or sign in to comment
You need to be a member in order to leave a comment
Create an account
Sign up for a new account in our community. It's easy!
Register a new accountSign in
Already have an account? Sign in here.
Sign In Now