Originally Posted by
Meixner007
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I'd read earlier in the thread someone had a similar problem and the teller told them the counting is based on weight. Either way you look at it .98/1250 is 0.784% off or 0.00784. I didn't feel like getting into this debate with her.
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The machines count the coins. When I made a post about it being based on weight was when they accepted my deposit for $5K, issued me a receipt for the $5K deposit, and then a full week later debited my account, stating I was short $57.34. I was told that they take the coins to some central branch in the area where they are weighed, then obviously apply some formula of:
deposit amt$ = weight of all coins / weight of 1 coin.
At any rate, whether they count the coins, or weigh the coins, it's ridiculous to accept those readings, especially if they're trying to tell you that a deposit made solely of $1 coins can be in a denomination that requires something than $1 coins only.
My bank ultimately credited me back my $57.34. Didn't take that much effort actually... just a face to face with the manager. He didn't have any argument to the contrary and immediately credited back my funds. thus, I'm actually quite surprised that they didn't just give you the 'extra $0.98', since 1) it's miniscule on such a large deposit (and I'm assuming you have a significant balance as well), and more especially #2) it's CLEARLY EVIDENT that the machine made a mistake when it tells you there is $0.02 cents in there on a deposit made solely in $1 coins. I mean, even the tell must have KNOWN that this is wrong and should have been proactive in just fixing it.