Bank not taking coins

[Twodose]

My bank just called to tell me that they are not accepting any coins.

 

[I.B. Washincars]

Is this related to the virus?

 

[Twodose]

Yes, because of the virus.

 

[OurTown]

Our credit union closed its lobby and therefore there is no access to the coin counter. I voiced my concern and they are going to allow us to make an appointment to go inside and use it. Otherwise I guess we could ship quarters to our electric company and other utilities to pay our bills.

 

[Randy]

I would think that currency would be the real concern and not coins. Currency is absolutely filthy. I wear a mask and gloves when I count currency. I have to make an appointment to make a lobby deposit of coin at my bank. They also consolidated a couple of branches because there business was down so much.

 

[MEP001]

Our credit union closed its lobby and therefore there is no access to the coin counter. I voiced my concern and they are going to allow us to make an appointment to go inside and use it.

I use Wells Fargo, and they have also closed their lobbies. They already had plans in place to let people in by appointment only for things like that. I got set up for night deposit for bills when I opened the account, so at least that hasn't changed.

 

[JMMUSTANG]

I don’t understand why they don’t accept coin.
Until last week I count it (weight) $500 per bag. I also will periodically count it by machine to double check it.
I go to the bank and drop it off behind the tellers door into the vault. Deposits goes right into my accounts.
Brinks or who ever they use comes and picks the bags up.
I can’t remember ever getting a debit or credit.
Starting last week I have to go to the drive up. Send the deposit slip to them, wait for the deposit slip and then pull up to the front door and hand the bags to them outside. Doors are kept locked.
Not a fan of that. To open.

 

[OurTown]

Earlier in the week we made a deposit (just bills of course) at the drive through. The line was wrapped all the way around the building. Now they have bill acceptors that take up to 30 bills at a time instead of a container that goes back and forth. It takes a bit for the machine to count it so depositing the bills took us about 20 minutes. The good news is that we can do it even if they are closed to avoid the line. We are planning on depositing much more often.

 

[mjwalsh]

Yes, because of the virus.

Twodose & others,

Our friend Randy is absolutely right about paper money having the greater "virus danger"! See documented proof on copper-virus relationship within the following linked article:

Does washing your clothes prevent the spread of the coronavirus?

‘The coronavirus would likely survive better on artificial fibers such as polyester than on cotton.’

www.marketwatch.com

Copper content in coins ... especially dollar coins!!! The below linked fact sheet proves the more desirable "copper" attribute:

Coins of the United States dollar - Wikipedia

en.wikipedia.org

If enough of us gracefully point out the proven facts of "less than 4 hours vs 24 to 36 hours for plastic" ... with our assistance the "truth" will win out against those kinds of grossly unjust & "not based on the best information" policies!

Call & seek out a bank that has a "commercial lane" drive up that is limited to just business customers "larger bag" processing. That is what has worked for us within the last 10 days of inside of the current (hopefully temporary) many local banks & their branches themselves "interaction" limitations. Local businesses have had an almost total shutdown for a few weeks now ... so we did not have to wait at all for that lane during our recent deposit!

Do not try to use any bank drive up bay that is limited to those "vacuum operated too small in size canisters"

 

[Twodose]

I always do night deposits, and take quarters down in bags of $250.00, they called me and said that they are not handling any coins right now because of the virus, not even if I rolled them, I then asked if they are still selling rolled coins and she said that they were, go figure. I also called 2 different branches one said they would take coins but someone would have to meet me at the door and the other said no coins, so I guess one of them didn’t get the memo. I asked what about bills, yes taking bills but I think they are just as bad if not worse than coins, the lobbies in all their branches were closed on 03/18/20, drive though only. They are going to hate me when I come there in 6 months with $20,000.00 in quarters. Hellooooo….Cryptopay.

 

[traveler17]

Our credit union closed its lobby and therefore there is no access to the coin counter. I voiced my concern and they are going to allow us to make an appointment to go inside and use it. Otherwise I guess we could ship quarters to our electric company and other utilities to pay our bills.

I do the same thing w the coin counter, do they tell you no commercial use? That’s what it says at my branch but no one has ever given me a problem. Thanks for the idea though, I’ll go voice my concern

 

[OurTown]

I do the same thing w the coin counter, do they tell you no commercial use? That’s what it says at my branch but no one has ever given me a problem. Thanks for the idea though, I’ll go voice my concern

I don't think I ever saw anything about prohibiting commercial use. It is the only way they accept coins.

 

[Waxman]

My bank said they would accept coins but then they changed their mind and said no.

I'm using coin stars that take 11.9-12.5% as a fee.

I'm saving the receipts and plan to ask the bank to reimburse me when things 'normalize'.

 

[wyatt]

What’s bothered me somewhat is credit cards.

I understand money and coins are dirty and can transmit the virus, but to my understanding the virus only lasts on hard surfaces for around 2 maybe 3 weeks (please correct me if I’m mistaken). With that said cash may only change hands once or twice during that period of time.

However, your credit cards are touched by strangers multiple times a day. I was sitting at a fast food drive through the other day and saw the cashier taking everyone’s card swiping and returning. Think about how many cards he touched. Then think about the fact that unlike cash, they return the physical form of payment back to you (your cc) possibly furthering the spread.

 

[mjwalsh]

Wyatt, Waxman & others,

You make an excellent point. For banks to use the Covid-19 as an excuse to not accept coins is not just misleading but "appalling" IMHO! I hate to question those irresponsible CEOs' motivations but to ignore "conflict of interest" & motivation is not always the best approach either. Media could have an opportunity to gain credibility ... it seems by as many as possible journalists shedding light on these kinds of policy problems!!!

 

[Roz]

CV19 is thought to last on surfaces (tested in a lab with ideal conditions) for several hours to perhaps up to 72 hours. The virus requires a biological host to survive that is why it will eventually die off when on a surface. Sun and other factors can shorten the life expectancy of the virus too. When we had money to deposit we would bag it in bank provided bags and let it sit for 72 hours before taking to the bank. While not required our bank appreciated the added caution. At this point in time it is a moot point since there is no money to quarantine.

Coronavirus disease (COVID-19)

WHO is continuously monitoring and responding to this pandemic. This questions and answers page will be updated as more is known about COVID-19, how it spreads and how it is affecting people worldwide. For more information, regularly check the WHO coronavirus pages. https://www.who.int/covid-19

www.who.int

 

[Randy]

After replenishing the changer this morning I bought home 24 quarters. At that rate it might be a once a year trip to the bank with quarters. Business here in the Pacific Northwest has been terrible this last couple of weeks. Very little traffic on the roads.
Those of you who are not being able to deposit coins are you rolling them or bring them in loose?

 

[mjwalsh]

The reason why these charts such as linked below tend to say "up to" is because like Roz pointed out "other factors"

How long does a coronavirus live on common surfaces?

The question comes up constantly in conversation about COVID-19: How long does the virus survive on surfaces that we touch?

www.fox17online.com

 

[MudMoney]

I roll my own,bank supplies the pre-rolled wrappers free of charge.last week had to make an appointment to deposit coin. No big deal as we were also getting bi-weekly order of $ coin.

 

[Twodose]

I roll my own,bank supplies the pre-rolled wrappers free of charge.last week had to make an appointment to deposit coin. No big deal as we were also getting bi-weekly order of $ coin.

They are not even taking rolled coins in pa.