So of course, in the continuing thread of it never fails.... I opened an account at capital one about 8 weeks ago, specifically to take advantage of the free coin counter machines they have. I asked about em, got loads of great information, along with some fun stories about how they broke fairly often because *idiots* would come in with a bucket of screws and rocks mixed into their coins, which of course would break the machines. Fortunately there are three branches all roughly equidistant from my place, so if one was down I could transfer. I go in a week or two ago to do a dump (been getting penny/nickel boxes at another bank) and there's a sign saying they are removing the machines on June 9. And no longer repairing the machines as they break. So far, 2 out of 3 are broken, and I have ~$1500 IN CENTS AND NICKELS in my house which I had planned to dole out over the next few months (rather than take the machine for hours at a stretch). What to do? GRRRRR......
Take the machine for hours, if you don't break it someone else will. Don't feel bad, get in there before its too late!! Sent from my HTC6990LVW using Tapatalk
Start collecting paper rolls. That is the way it works where I live. Another option is using a coinstar. Where I live, you can exchange with no fee if you get a gift card.
I have yet to find a place around me willing to accept hand-rolled cents in payment... Unless I want 1500 packs of gum one at a time
Most likely it is a problem in the transport section. Offer to try to fix a broken one for free, and have some mechanically sharp friends help. Or ask what they can get ( maybe insurance or nothing) and buy it. Learn to fix them and it sounds like there will be others available to start a business and always have a coin counter around. Or just continue to seek out free services.
Get paper rollers, and roll the change. That's what I did as a kid before the machines were as common place as they are today. After you have rolled the change, take it to the bank, and they will give you bills for it.
I am a CapitalOne Bank member. I used the machines at least 3 times and averaged about $300.00 in coins. I asked my favorite teller about the removal of the coin counter machine and he told me that truthfully it was because they were not making any money! There is no fee for CapitalOne Bank members and most of the people that use the machine were the members! So fixing them and paying out the exact amount to members equals... NO PROFIT! They were losing money. They do offer free coin wrappers! Well at least my branch here in NYC does.
Take advantage of the free wrappers and start rolling. We'll give them out all day long at the bank where I work. Cent thru Half, Sac, and Ike.
Hoarding or accumulating coins may not be smart practice anymore as you have found. If I'm not mistaken banks need only accept 25 minor coins at a time just as any business is legally obligated to take no more than that for goods or services. Am I right on this ?
Take them in and deposit them into your account. They teller is just going to love this new policy to get rid of the machines.
