Buy Presidential Dollar Coins with CC @ Face Value, Free Shipping
Aug 30, 2009, 2:18 pm
#4006
Join Date: Sep 2004
Location: BDL
Programs: NWA Platinum, HHonors Diamond, SPG, YX, AA
Posts: 5,351
Aug 30, 2009, 2:36 pm
#4007
Suspended
Join Date: Aug 2009
Posts: 78
i'm not a lawyer and dont' claim to know the law. and obviously what you see on the internet or read isn't terribly accurate. but do you know what law states this? it certainly seemed there was general consensus that if you owe a debt, they cannot refuse any legal tender (just reading all the youtube comments), and that makes sense. and then when the cops came in that video, it certainly gave the impression that they were not allowed to refuse the coins.
Aug 30, 2009, 3:13 pm
#4008
Join Date: Mar 2006
Location: Miami, FL, USA
Posts: 4,050
i'm not a lawyer and dont' claim to know the law. and obviously what you see on the internet or read isn't terribly accurate. but do you know what law states this? it certainly seemed there was general consensus that if you owe a debt, they cannot refuse any legal tender (just reading all the youtube comments), and that makes sense. and then when the cops came in that video, it certainly gave the impression that they were not allowed to refuse the coins.
Summary: What MKEbound said.
Last edited by aviators99; Aug 30, 2009 at 3:21 pm
Aug 30, 2009, 3:26 pm
#4009
FlyerTalk Evangelist
Join Date: Jul 2003
Posts: 11,377
Also, depending on the circumstances in which the car was impounded, they may have been acting under a contract with a government unit which adds a new wrinkle.
If I ran an impound lot, I think I would invest in a coin counting machine so that these sort of "demonstrations" could have minimal impact on operations.
Aug 30, 2009, 3:29 pm
#4010
Suspended
Join Date: Aug 2009
Posts: 78
this was not a good or service. this was a debt. i believe the way to interpret is that a private company can refuse any payment for goods or services for no reason at all. however, if it's a debt owed (as in this case), they are required to accept any form of legal tender.
btw - to keep this relevant, this is somehing we should all learn, so we know all the options we can do with the dollar coins we have sitting around.
btw - to keep this relevant, this is somehing we should all learn, so we know all the options we can do with the dollar coins we have sitting around.
Aug 30, 2009, 3:49 pm
#4011
Join Date: Feb 2005
Location: Boulder, CO
Programs: UA, AA, WN; HH, MR, IHG
Posts: 7,054
They may be required to accept it, but they are also allowed to require you to be present while every single coin is counted out and logged, as witness to the payment. Do you really want to stand there for an hour while they count coins?
Aug 30, 2009, 7:08 pm
#4012
Join Date: Dec 2008
Location: DC and Texas
Programs: Delta,SPG, Hyatt
Posts: 543
I've been paying my mortgage for several months now. It has worked well with no complaints, they verify each roll by hand, 5 minutes later it is a done deal.
I also used them to pay a ticket.
I also used them to pay a ticket.
Aug 30, 2009, 10:02 pm
#4013
FlyerTalk Evangelist
Join Date: Dec 2003
Location: LAX
Posts: 10,915
Drivethrough deposit anyone? 
http://www.youtube.com/watch?v=MNl_6LLXMko
(a hilarious WN ad link someone posted on fatwallet)
http://www.youtube.com/watch?v=MNl_6LLXMko
(a hilarious WN ad link someone posted on fatwallet)
Aug 31, 2009, 7:11 am
#4014
FlyerTalk Evangelist
Join Date: Aug 2001
Location: Finally back in Boston after escaping from New York
Posts: 13,644
Just imagine somebody with a jumbo mortgage. That could be quite a payment.
Mike
Aug 31, 2009, 12:16 pm
#4015
Join Date: Aug 2003
Posts: 408
Just returned from making a deposit in my account at Wachovia,Teller informed me that the Branch Manager has received a letter from Brinks increasing their charges to this Branch due to large coin deposits.I don't know if Wachovia Headquarters is involved.
I was getting tired of schlepping this weight arround anyway.
Much less effort to Churn.
I was getting tired of schlepping this weight arround anyway.
Much less effort to Churn.
Aug 31, 2009, 12:23 pm
#4016
Join Date: Feb 2009
Posts: 3,738
I was curious how people are bringing these into banks, if you have say $5k, are you making several trips into the bank from your car?
If you are bringing under $10k in, do you have to reply to the teller where you get them or why you are bringing in so many coins? I find it kind of weird that my local branch has told all of their employees that I bring in coins and they keep asking me of ways that I can avoid brining in coins, I never bring in over $2.5k.
I was also wondering for people who bring in large amounts, say over $5k, do they ask you to break down all the rolls? Can they refuse to take them if they are not broken down? I wasn't sure if the excuse "there's not enough room in our vault we need them broken down so they can be put in bags" was valid.
If you are bringing under $10k in, do you have to reply to the teller where you get them or why you are bringing in so many coins? I find it kind of weird that my local branch has told all of their employees that I bring in coins and they keep asking me of ways that I can avoid brining in coins, I never bring in over $2.5k.
I was also wondering for people who bring in large amounts, say over $5k, do they ask you to break down all the rolls? Can they refuse to take them if they are not broken down? I wasn't sure if the excuse "there's not enough room in our vault we need them broken down so they can be put in bags" was valid.
Aug 31, 2009, 12:34 pm
#4017
Join Date: Jun 2009
Location: Metro Detroit
Programs: DL KM
Posts: 628
I take my son. He's big and strong!
Aug 31, 2009, 12:59 pm
#4018
Join Date: May 2008
Programs: AA PLT 2MM
Posts: 2,026
Yesterday I saw a $43 "DEBIT ADJUSTMENT" on my BofA account. I didn't recognize it so I did the online chat thing with their reps this morning to see if I could find out what it was. They recommended I call in via the regular customer service line to get a more "senior rep". I called them just now and sure enough that $43 charge was due to a $2000 coin deposit on August 18th being short $43. I explained that it is highly unlikely that it was short as these coins were in rolls purchased from the US Mint. The lady was real nice and offered to let me file a dispute. So, I filed the dispute and she detailed everything, asking exactly how the coins were given to the teller (in 8 x $250 boxes (10 x $25 rolls per box)) that were only opened to make sure the amount of $25 rolls were correct (and that the teller inspected each box to make sure 2 trays of 5 $25 rolls were in each box). I explained I have receipts from the Mint to prove everything. She said that will probably help if they don't find any issues in their internal processes. She also said I should expect a letter within 5 days, but that I can call sometime after Tuesday of next week to get a status (got a case id & everything).
When I asked what types of things they're going to do to research this, since they are coins and probably had to be counted in a machine that was wrong, etc.? She replied "We have methods to detail every step those coins took from the moment you gave them to the teller to when they were given to the Brinks truck, etc." Hopefully things will work out and I'll get the $43 back.
Mind you I was extremely cordial the entire time and so was the BofA rep. Being very calm and respectful is always best when dealing with a faceless customer service rep that is trying her best. You get more flies with honey than vinegar.
I'm sure some folks will say "Well, you should think of the $43 as the cost of doing this deal." I disagree. The bank has a fiduciary responsibility to be accurate in their accounting, as does the Mint. There is a principal factor here that must be stuck to.
Cheers all!!!
When I asked what types of things they're going to do to research this, since they are coins and probably had to be counted in a machine that was wrong, etc.? She replied "We have methods to detail every step those coins took from the moment you gave them to the teller to when they were given to the Brinks truck, etc." Hopefully things will work out and I'll get the $43 back.
Mind you I was extremely cordial the entire time and so was the BofA rep. Being very calm and respectful is always best when dealing with a faceless customer service rep that is trying her best. You get more flies with honey than vinegar.
I'm sure some folks will say "Well, you should think of the $43 as the cost of doing this deal." I disagree. The bank has a fiduciary responsibility to be accurate in their accounting, as does the Mint. There is a principal factor here that must be stuck to.
Cheers all!!!
I was short changed $54.37 -- and yes, for a moment the teller (I went back to the branch) said that 'I was short fifty four dollars and thirty seven cents on my five thousand dollar deposit in $1 coins'. After the silliness of somehow being short $0.37 on a deposit denominated in $1 coins dawned on her, she became a little more helpful. I soon met with the branch manager, who apologized for the screw up and said they would immediately credit back my account. She even went as far to admit that the coins are taken to a remote location where they are counted by weighing -- i.e. they are not actually counted at all.
As to whether your BofA branch will reimburse you if they do this debit after the fact nonsense is hit or miss. I've heard a horror story of a guy who was shorted $134.16 (or something like that) on his $5000 deposit. He had to deal with this for over a month, and at the end was not given any reimbursement at all.
It likely helps to have a lot of banking relationships and a lot on deposit with them. In my case, the branch manager although agreeing with me that the coin counting process at the remote location is likely flawed, she did indicate that by reversing the debit it was in fact a 'favor' to me. That in itself is a warning flag not to deposit there any more, as a 'favor' need not be granted.
Aug 31, 2009, 3:56 pm
#4019
Join Date: Jul 2009
Posts: 70
Eventually you have to find new banks if you want to keep playing this game.
Aug 31, 2009, 5:53 pm
#4020
Join Date: Aug 2009
Location: Charlotte, NC
Programs: Delta PM, USAir, United, AA, Continental
Posts: 28
It likely helps to have a lot of banking relationships and a lot on deposit with them. In my case, the branch manager although agreeing with me that the coin counting process at the remote location is likely flawed, she did indicate that by reversing the debit it was in fact a 'favor' to me. That in itself is a warning flag not to deposit there any more, as a 'favor' need not be granted.
Last edited by WorldTravelGeek; Aug 31, 2009 at 7:33 pm