Being charged a fee for buying rolled coin?

**bee9984** · 11-12-2008, 11:55 PM

Dh was at our local credit union the other day and while waiting a lady wanted to buy some rolled quarters. The bank teller told her that they are starting to charge a fee for buying change now but would not charge her this time as it was just starting.

I remember taking some coin to the credit union a couple of years ago to put into my bank account, I had about $5 in dimes, $10 in quarters...something like that anyhow but the lady at the bank wouldn't take it if it wasn't rolled and wanted to sell me the plastic holders to put the change in. It was a ridiculous price although I can't remember now how much she wanted but I told her no thank you as I could get the exact same thing cheaper at the dollar store. They did not have a change sorter at the credit union.

I guess the only thing to start doing is on payday going to the bank once and getting bills for grocery shopping etc to accumulate change for change jars or for whatever reason. I use to pay for everything with cash anyhow which was a great habit to be in and on my goals list to start doing again.

It sure isn't like the good old days although a lot has changed since the good old days.

**madhen** · 11-13-2008, 12:00 AM

I had the same thing happen with taking change to a bank. Not only do they want it rolled, they also want you to print your account number on each roll, I guess to figure out it was you if you cheated them by miscounting your pennies!

**HandyMom** · 11-13-2008, 12:06 AM

I'd take the change to the gas station! Since they want cash now for a cheaper price on gas, they can take all my quarters and pennies, too. I think it's awful if they are charging for rolled coins or charging you for wrappers. My credit union is not doing it yet as far as I know.

**McD** · 11-13-2008, 09:09 AM

Everything depends on the bank. The bank I work at will accept rolled coin from a customer--but we still break it open and run it thru the coin machine. We prefer it to be loose.

Technically, we are supposed to charge for rolled coin, counting coin, etc. because it does cost the bank money to provide those services, but we are pretty lax about charging it. I think it's asinine to charge someone for a roll of quarters, so I don't do it. We do charge our businesses for their change orders though.

You guys have to remember that banks are a business. We get charged for buying coin and sometimes, to remain competitive/profitable, we have to pass that expense on to the customers. There are lots of 'freebies' that most banks offer--free internet banking, online bill pay--that cost the bank money and that money has to be made up for in other areas of the bank.

**Denvergirlie** · 11-13-2008, 09:22 AM

We roll ours and take it in. The bank weighs it to double check the weight/ value. Never had an issue.

But the PP is correct, a bank is a business and they have stockholders, stockholder expect to profit. I don't see anything wrong with this.

**katybug** · 11-13-2008, 11:21 AM

On the other hand, you are free to take your business elsewhere. There is a wellsfargo here in town that will count change, for their customers. So we have accounts through them and have been very happy.

The free change counting is the whole reason we went with them in the first place!

~KB

**Lady_V** · 11-13-2008, 11:30 AM

I have -yet- to be charged for coins. (Now that I said it... I'll be here next week telling you how I was

)

To deposit them, they have to be rolled, acct# on them, etc. We have our coins rolled and hidden away in our 'hell broke lose home bank'

. We do need quarters for the laundry. Once upon a time we had a change machine in our laundry room, but some zipperhead stole it.

How much do they charge to get a roll of quarters?

**monkeywrangler71** · 11-13-2008, 12:31 PM

When I worked at a bank we only charged to take in coin - only from business customers and it wasn't done at the branch level but as part of their monthly service charges. We didn't charge customers to buy it, we were always glad to get rid of it as it saved us the expense of shipping it back. Back then we were desperate to keep cash holdings to a minimum though, as the central tellers were graded on how little cash they could keep on hand.

**MomToTwoBoys** · 11-13-2008, 03:43 PM

The only time I have change is when I take out $20 from the ATM. Any change that's left over is put into my change container and used for the bus or when I just want a coffee somewheres. I go flopping around to the train station and put the nickles, dimes and quarters in the machines to get my ticket. I use the loonies and toonies ($1 and $2) for grocery shopping since the carts need a $1 to use.

**Laura2** · 11-14-2008, 12:49 AM

We've never been charged before for taking rolled coins to the bank. And they haven't mentioned anything about starting to charge. Hopefully it will stay this way.

**MysticEagle** · 11-14-2008, 09:03 AM

I don't know if our CU charges to get rolled coins but I doubt it. They are very fee friendly.

We do have to roll the change and put either acct or phone number on the roll when depositing or exchanging for bills.

**fixer** · 11-14-2008, 11:44 AM

Our CU stopped accepting rolled coins some time ago. They have a sorting machine in the lobby. It gives you a receipt you take to a teller. The only time I used it, it jammed and I was there forever. Now, I just spend my change.