Originally Posted by
cepheid
By that token, banks presumably do not have to accept all forms of legal tender, since there is no debt incurred. However, a bank isn't really a merchant, and they're regulated differently, so I don't really know whether or not they can turn away specific forms of currency.
Citibank in Chicago all but refuses coin deposits. Unless the customer is a CitiGold, they will assess a 5% charge for coin deposits. Coins have to be unwrapped.
Now say I walk into the nearest Citibank branch and say I want to make a mortgage payment would they have to accept the coins as payment? I may try this on October 1 and see what happens.