I was doing 2000-2500 at a time but was getting a lot of flak. I have reduced to just going branch to branch with 750-1000 at a time and I'm still getting a lot of funny looks and some outright hostility.
Really, if I have to go down to 500 a deposit, I've got tot wonder if it's worth it. I'm also wondering if someone ELSE is working this system in my area and spoiling it for me. Is so, please stop.
Banks are everywhere, is it really that hard to go to multiple branches or open accounts at different banks? I have Chase, WAMU(now Chase), BofA and HSBC all near me. I have accounts at each.
Really, if I have to go down to 500 a deposit, I've got tot wonder if it's worth it.
Is it really that big of a hassle for you to split up your deposits? I just don't get all the complaining. I really don't. Go to a different branch. Split it up over a couple days during the week. Open up a new account at a different bank. I don't see why everyone thinks the only way to do this is to drop $5000 in coins on the tellers counter and not expect anything to happen after the first time. Split it up. Take a few days off, and enjoy the experience.
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Quote:
Originally Posted by thebat
I was doing 2000-2500 at a time but was getting a lot of flak. I have reduced to just going branch to branch with 750-1000 at a time and I'm still getting a lot of funny looks and some outright hostility.
Really, if I have to go down to 500 a deposit, I've got tot wonder if it's worth it. I'm also wondering if someone ELSE is working this system in my area and spoiling it for me. Is so, please stop.
You really are changing your habbits because of funny looks/hostility/flak? If they are ignorant to you, write/call the bank's customer service. It shouldn't matter if you're depositing 5, 50, 5000 or 50k in coins, as long as it's legal and the bank doesn't have any policy against it they're in the wrong if they're giving you flak. The teller at the one branch where I regularly go has told me she hates when I use her because they're too heavy for her to carry to the back, but she knows I'm within my rights to do it so she hasn't complained.
Seriously, you should be able to bring the entire US mint with you and deposit it without anyone giving you crap for it.
Exactly.....I bring in maybe 2500 each MONTH and this stupid manager is complaining, to which I have a meeting scheduled with her supervisor Monday to 'discuss the matter' (see my previous posts)..
but I will be careful as to not kill the goose that lays the golden egg....if I see the discussion goin' nowhere, I will simply smile and leave courteously, and just start going to Wells Fargo.
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Do not worry. Each and every post that you people make will help stop your plan. Furthermore almost every bank participates in a private communication network set up among all banks not just there own branches to share information with other banks. This network ( which started out as a fax broadcast) was originally set up to prevent scams and catch crooks but I believe you folks have already created enough attention This along with another slower network used by law enforcement will kill this soon. Go ahead with the defense posts of how you are performing a duty, perfectly legal, etc. but IMHO your days are numbered. Just by replying to posts and boasting . I laugh at continuous asked and answered posts. Flame, defend, so this thread stays on top to see the demise.
Normally I would agree Centurion. However this deal has the unusual advantage that the Govt (Mint) is making money hand and fist off this deal. That alone may keep it alive for a while longer. However the brag posts and idiots who think they can deposit $10k in coins every week as a 'legal right' certainly don't help the cause.
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Quote:
Originally Posted by Centurion
Do not worry. Each and every post that you people make will help stop your evil plan.(insert dramatic music).
I made some changes to your post...
Quote:
Originally Posted by Centurion
This network ( which started out as a fax broadcast) was originally set up to prevent scams and catch crooks but I believe you folks have already created enough attention
Huh? Scams and crooks??? What's the scam? Who is the crook? None of this is illegal by any stretch of the imagination. It's all perfectly legal... just like collecting yogurt tops or popsicle sticks.
What's absolutely fascinating about all this is the fact that EVERYONE, including the Mint, is making money off this! I am making 2%, UPS is making $ delivering the stuff, Schwab is making a little bank on the transaction fee, the Mint is making money on the difference between the cost to mint and the face value of the coins minus S&H charges, and my local Bank of America is making money on the interest earned on the coins for the month they sit in my account. Even the taxpayer is making money on the deal because it is forcing another coin into circulation that the people don't really want in significant numbers.... the government makes money making money that sits.
This network ( which started out as a fax broadcast) was originally set up to prevent scams and catch crooks but I believe you folks have already created enough attention. Flame, defend, so this thread stays on top to see the demise.
I always try to bring the coins to new branches (and not to overwhelm the others.) I did that to two "new" branches this last week, and the two tellers at both branches told me they had never seen those, were very interested in them, and asked me to bring in more. Not to forget I am in a big city, that I assumed (wrongly) many people were already doing this. Not the case. I am still asked where I get those, and right after I walked away from the counter, they started gathering around and looked at those. This pretty much happens every time I bring the coins to a new branch. That tells me two things:
1) although this is widely discussed here on FT, it is still fairly unheard of in the surrounding community;
2) the said network is not working very well to communicate between banks.
Of course I always try to stay low-key, being VERY polite and smile, make the teller's job easier by opening all the boxes and put the rows in vertical position for them to count, not bring in over $1,500 at a time, not go to the same branch more than once every other week, etc. Help them do the job, and they will help us. That is how I got a nice teller who traded her $2 bill with me, the only second time I have seen this in my whole time in the US (and in my life.)
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I think that the more people post bragging threads "I deposited 50K today" the more likely this is to go away.
If you are getting 5-10K/week in coins, GOOD FOR YOU. Please keep specifics to yourself.
As for the banks being pissed, find a way to MAKE THEM HAPPY for not only your own sake but for the rest of us. I've worked with my bank to make sure that I am not a burden on them, find out how you can do that as well. Maybe even suggest that you will unroll your coins yourself and put them into burlap sacks or take them out of the box before bringing them to the branch. Get friendly with the branch manager and explain that you are not trying to be a burden on their resources.
IMHO, If you want to lie to them about the origins of the coins, go ahead however I believe that honesty is the best policy. The less you give them to suspect/be wary of the more likely they will do whatever they can to help out.
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Seriously, you should be able to bring the entire US mint with you and deposit it without anyone giving you crap for it.
Disagree completely - there is such a thing as human respect. It's not always about the big company. I split my deposits up not because I have to, not because I get flak - but because I know it's not easy for the teller to handle that much and pack it all up and send it back (as my bank does in this area). Out of respect I don't bring in 5k at a time to them because it is a big hassle.
Your employer could also pay you in pennies if they wanted to - but certainly just because it's "legal" doesn't mean you don't have to show some basic human decency when needed.
Granted - I'm sure there are banks out there that getting 5k worth of $1 coins is really not a big deal. But in my area - it really is a hassle. I also don't try to come during peak times as well.
