Hertz4me

deleted

jdl

It's amusing how different branches of the same bank have varying policies regarding these coins deposits. One branch I go to accepts the rolls without a problem.

I went to another branch of the same bank, five miles away, to open a checking account and they told me they are required to send all coin rolls to a central facility for counting before the funds show up in the account.

I somewhat reluctantly gave the banker $1000 in rolled dollar coins and she gave me the numbered plastic label from the bag in which the coins are stored for transport to the counting facility. That was my receipt.

I was going to ask what recourse I had if they came back and said they counted less than $1K but I figured I'd just roll with it. I checked my online balance today and I was credited 1001.25! So much for their counting machine.

Astrophsx

There is a lot to read on here, but if you do read you will find that a lot of banks will tell you they do not have the vault space to hold the coins, that is why they run them through the machines so they can store them in the bags. It can be a waste of time to open an account just for coins and then find out they will not take them rolled, so I would ask the bank manager if you came in from time to time with mint rolled coins if they would take them rolled, that you are worried that with a volume over 500 coins that there might be a mistake in the coin counting.

It always helps to be honest with any mistake, even if it is in your favor. IMO it sets up a good relationship with the bank, but with $1k in coins I would think it'd be somewhat uncommon to have a $1.25 error, not really sure how a coin machine comes up with "extra" coins, I can see being shorted when it thinks coins are quarters. Good luck with things!

aviators99

Good advice.

I've read (on here) that the reason for the extra money is that they need to clear up a jam from a previous count, and coins are counted from the previous jam.

boomdog

I once got an extra $20 bill from the ATM. Actually, it was an extra 75% of a 20 dollar bill, the rest was ripped and left in the machine.

I reported. Got a lot of good will at the bank that way (and good karma). Note that I was withdrawing money just deposited with presidents.

bd

MojaveJack

Yes but when you're counting $1 coins you have to wonder where the extra 25c came from?

MojaveJack

I have some mobility issues and prefer the drive through. I didn't want to go to my normal, closest branch because their drive thru has a pneumatic tube and it just can't handle the coins. I tried their window but they wouldn't use the drawer and insisted I use the pneumo. When I explained the situation they told me to come inside. I told them I couldn't carry it and they refered me to another branch.

I used the "P" branch and they took 60 rolls at their drive through. I also used the "R" branch and they didn't want the coins in the draw to the weight but since I had issues they were kind enough to come out and take the coins in for me! On a second trip to the "R" branch they wanted to know why I was coming over there when the "M" branch (the original branch) was much closer. I explained the situatin and the fellow said they should have come out and helped me. He said he was going to send them a nasty email asking why they weren't helping.

Since then I went back to "M" and they wouldn't help. I took in 44 rolls with a walker I have that has a seat that I placed the coins on. Made the deposit and left bushed. I was back today with 22 rolls I just got Friday. Got the 3rd degree and was told I might start getting charged for bringing in so much change. I was told that commercial customers have to pay for bringing in coins! I asked how much and the clerk didn't know. He said it was based upon how much and how often. He claims they have to pay to get rid of coins!

So yes, different branches will tell you different things. Sometimes even different tellers will tell you different things at the same branch.

sethb

http://www.irs.gov/pub/irs-pdf/p526.pdf

Contributions From Which You Benefit

If you receive a benefit as a result of making a
contribution to a qualified organization, you can
deduct only the amount of your contribution that
is more than the value of the benefit you receive.

zzyzx

I once had to leave my $1000 coins in roll in a WFC branch, and after a couple of days when I came back, I got $999 in deposit. I understood this was due the error occurred in the coin machine, and I had to swallow the result.

zzyzx

I once had to leave my $1000 coins in roll in a WFC branch, and after a couple of days when I came back, I got $999 in deposit. I understood this was due the error occurred in the coin machine, and I had to swallow the result. In fact, the coins could sit in a dead corner when they were put in, and sometime then stayed there for a while until some radom actions happen.
Since the coin machine counts coins from penny to dollar, so sometimes a qurater drops after it stayed for long.

MattinAustin

Well guys.

I'm new to the board and new to this. Placed my very first order just 20 minutes ago. Ordered $1000 on the Citi AAdvantage just to get the feel of it. I'm in complete agreement that the government waste billions and now trillions every year and I feel its my duty to somehow get something back now. Its not going to make me rich but its sure going to put a smile on my face when I book that next first class ticket and know where it came from.

Anyone got any good banks in Austin I'd love to hear from you.

Thanks-

benmaller

This is OT but, I don't think this applies to miles on a CC. The miles are a benefit of using the card to make purchases regardless of what is purchased. This is not a benefit specifically related to your donation. I believe this applies more specifically for thing such as a fundraiser dinner where the value of the dinner must be subtracted from the actual donation. I.e donation was $100 but ou received a dinner values at $30 so you can deduct $70.

aviators99

What I'm saying is that there were probably 5 quarters still in there from the previous jam (most people aren't counting $1 coins)

Hertz4me

my church never complains when i throw in some dollar coins in the collection plate, its so funny when the plate gets passed around i can always hear my coins in there

sethb

It's a benefit that results from making the donation; if I hadn't made the donation, I'd have 500 fewer miles. The IRS says it doesn't matter who you get the benefit from, only that it results from making the donation.