As I made a deposit last Friday, the teller at my local SunTrust bank told me that beginning July 1 (today), there would be a handling charge of $5.00 per 2000 dollar coins, to offset their Brinks charges. She said it was discussed in a meeting they'd had, but it seemed to be a policy that was being applied much more broadly than just locally.
I'd be interested to hear if any other SunTrust customers have encountered this new fee (or not).
Even with the fee, $12.50 for 7,000 Skymiles and 2,000 MQMs (what I earn for a $5,000 charge on my Delta Amex) is probably worth doing, but I just called a branch of a new regional bank near my office and they said there'd be no charge for large coin deposits. So when I get my next delivery I'll use it to open a checking account there.
And if you deposit $1999? Just askin'.
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If you can't spell it, you probably can't afford it.
CXXXE is letting me pay my mortgage at a local branch with coins.. made my first mortgage payment today! Sweet. Finally a way to profit from my monthly mortgage payment on top of my deposits...
CXXXE is letting me pay my mortgage at a local branch with coins.. made my first mortgage payment today! Sweet. Finally a way to profit from my monthly mortgage payment on top of my deposits...
-cheers
Now this is the stuff that is interesting and should be added to the thread! Not this 'I orderd $500 of President XYZ ' stuff. It's useful, and it's a novel idea of actually having a way to dispose of the coins without completely overwhelming your favorite bank (or taking a hit on the deposit).
i ordered 500 N/A lol and thehawk read this post and lost a hair
ordered 6/26 delivered 7/1 looks like it's back in action...and did use overnight
I agree with thehawk75 on posts that don't contribute to the process. Before you make a post that is redundant, go back to page 1 and start reading. Numerous FTer's have written this thead is so long it's overwhelming to try and figure it out, and member's keep adding comments that don't add to the discusssion except to say "me too". Yes, we're all free to make posts, but please add to the discussion. All said IMO.
I checked one (for FL) and didn't see such a fee listed.
Excellent point. It's not listed in the fee schedule for my area, either. I don't want to get adversarial at my local branch, but I may take my next shipment to another branch, along with a current printout of the posted fee schedule for my area, and see what happens. If they enforce the fee, I'm not going to close my accounts with them over this, but I probably would then open the checking account at the other bank.
Interesting question about $1999, too. I asked them if 5000 coins would be assessed at $10.00, $12.50 or $15.00, and the teller said she didn't know and would have to look in more detail at the letter that imposes the new fee. Even if fewer than 2000 coins would not trigger the fee, I'm not sure I want the hassle of having to make three separate deposits on a 5000 coin order.
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Oh, what a tangled web weave we, when first we try to fly for free.
Just returned from Key Bank branch here in PDX. As I was waiting in line to deposit my coins, the branch manager approached me with a " I got your ... now" smile and introduced herself, while I was at the teller window, and inquired about my deposit activity. I told her why I was doing it and she said she has to check with her manager regarding costs, because It costs them money to take it out of the bank ( I don't understand that one).
First of all, I think she is out of line for approaching me in public and inquiring me about personal activity, and secondly, I think she is going to try to come up with some bogus tactic to avoid me from depositing anymore coins at this branch.
The game is afoot!....I think if enuff of these 'camp kommandant branch managers' complain, the banks will relay those complaints to the Mint and they will nip this one in the bud........lazy b@stards
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Mileage PLUS VISA---Delta Skymiles AMEX
Salamalaikum, Welcome to Portland International Airport
Last edited by mrx900; Jul 2, 09 at 1:21 pm.
Reason: im just too pisst off right now
Has anyone ever been declined purchasing this coins? So far, Mr. Eagleswings, my sis and I used 3 different accounts to purchase the coints. For the past 1-2 monts, we have made several purchases without any issues but for the past week, I got declined twice! Reason was exceed limit. How do they decide to decline purchases? Based on what? For every account, we never purchased more than 2 per presidents.
Just returned from Key Bank branch here in PDX. As I was waiting in line to deposit my coins, the branch manager approached me with a " I got your ... now" smile and introduced herself, while I was at the teller window, and inquired about my deposit activity. I told her why I was doing it and she said she has to check with her manager regarding costs, because It costs them money to take it out of the bank ( I don't understand that one).
First of all, I think she is out of line for approaching me in public and inquiring me about personal activity, and secondly, I think she is going to try to come up with some bogus tactic to avoid me from depositing anymore coins at this branch.
The game is afoot!....I think if enuff of these 'camp kommandant branch managers' complain, the banks will relay those complaints to the Mint and they will nip this one in the bud........lazy b@stards
Are you depositing all of your coins in the same branch? If so, you might try going to different branches to "spread the pain around". I don't deposit more than $2,500 in any one branch and I normally don't go to any branch more than once a month. Yes, I have to drive a few miles and when I do, I will go to 2-3 banks on the other side of town. My primary bank isn't close so I opened a separate bank account with a bank that had a lot of branches (and gave me $50+ for doing so), just so I could have more deposit options. Most of the banks do ship them back to the Fed, so they do have a hassle factor even if it doesn't cost them any money. If a branch is "more difficult" than others I don't go back, if they want me to use the coin counter, I leave and go to a different branch.
I did pick up a tip yesterday, the bank coin machines are having a hard time with dollar coins. One bank took my rolls as they knew there was a problem and they didn't want to deal with the coin counter. From the comments I heard it wasn't just their machine, but a problem with all of their machines.
Has anyone ever been declined purchasing this coins? So far, Mr. Eagleswings, my sis and I used 3 different accounts to purchase the coints. For the past 1-2 monts, we have made several purchases without any issues but for the past week, I got declined twice! Reason was exceed limit. How do they decide to decline purchases? Based on what? For every account, we never purchased more than 2 per presidents.
Can anyone help? TIA
correct, they'll decline your presidents orders $500 max is new rule they go by and NOT per order like it used to be, for household pretty much
so just order Native Americans, no limit whatsoever now on those
Has anyone ever been declined purchasing this coins? So far, Mr. Eagleswings, my sis and I used 3 different accounts to purchase the coints. For the past 1-2 monts, we have made several purchases without any issues but for the past week, I got declined twice! Reason was exceed limit. How do they decide to decline purchases? Based on what? For every account, we never purchased more than 2 per presidents.
Can anyone help? TIA
In the last couple of weeks the Mint has started enforcing their 2 boxes per President rule. The good news is they took the 20 box limit off of the NA's. To test that policy I ordered 40 NA's and received them with no problem and still got free shipping. Unless you want the Presidents for some reason, I wouldn't worry about the change, just order NA's.
correct, they'll decline your presidents orders $500 max is new rule they go by and NOT per order like it used to be, for household pretty much
so just order Native Americans, no limit whatsoever now on those
u need to checkout as guest and not login...u dont need a login to purchase...
initially thats what i did and started noticing limits set on how much I could order....then no more after i checked out at as guest
__________________
Mileage PLUS VISA---Delta Skymiles AMEX
Salamalaikum, Welcome to Portland International Airport
' stuff. It's useful, and it's a novel idea of actually having a way to dispose of the coins without completely overwhelming your favorite bank (or taking a hit on the deposit).
