Coin Deposit

[yhannat]

Located in Nashville, TN. I am having a hard time finding a credit union or bank that would take loose change. They all require it to be warapped. One credit union have a coin counting machine but it’s only free deposit for the first $250. After that it’s 12.5% fee (Insane). I usually have have about $1200 + in coins a month

How do you all deposit your coins?

 

[ShinePro]

I take coin when buckets get full.
Close to $2k at a time
They run it thru the counter and deposit it
No probleemo!
They even bought a new machine a year ago.
My wife does bundle all the cash for them!
(Which I dont recommend )

But its MY bank that I have my loans thru
My checking accounts. My money markets. My cc deposits. Etc

They better do that or I ll get another bank!

 

[yhannat]

What is the name of the bank?

 

[Keno]

You have to keep looking, small community banks will usually do it.

 

[HeyVern]

I bag mine and the bank uses a counting service that picks it up and counts it. It takes about a week to get the deposit back.

 

[chaz]

we use a smaller local bank that actually appreciates our biz. We deposit coin in provided bags that hold $1k of quarte…. We buy bulk dollar coins $2k per bag. We deposit wrapped, faced bills. We have High quality coin and bill counter

 

[Randy]

Since COVID we very seldom have to take quarters to the bank. When we do have to take them to the bank we roll them, our coin counter will also roll them. There are no banks here that have a coin counter. Currency, we count, face and band. The bank supplies the necessary supplies.

 

[sjb]

We pay a 3% vig at Delta credit union to dump the quarters and dollar coins…

We only dispense our $1 tokens, and just reordered more, for a total of 60K tokens in 3 years…. CC’s now dominate revenue…,

 

[edredtop]

Located in Nashville, TN. I am having a hard time finding a credit union or bank that would take loose change. They all require it to be warapped. One credit union have a coin counting machine but it’s only free deposit for the first $250. After that it’s 12.5% fee (Insane). I usually have have about $1200 + in coins a month

How do you all deposit your coins?

I had a liquor store next to one of my washes a few years back and that guy would buy everything I had.
Credit cards (EBT) may have changed that at this point but..
For a liquor store $1,200 a month is:
$300 a week
$43 a day
$1.75 an hour (if they're open 24 hours)
Peanuts for a busy store.

 

[Greg Pack]

Take to a coinstar and get gift cards!

 

[Waxman]

I have a coin scale and heavy duty nite drop bags for quarters. Weigh quarters, bag them and deposit.

 

[Blanco]

I have accounts at multiple banks. The only one that takes coin for me is Chase. If you have a business account there you can bag them. A completely full 5 gal is $3k. My guys either bag $500 or $1000 per bag. I can't remember. Gets deposited right away. A few weeks later you might see a debit or credit for a few bucks after it's counted.

 

[soonermajic]

I take coin when buckets get full.
Close to $2k at a time
They run it thru the counter and deposit it
No probleemo!
They even bought a new machine a year ago.
My wife does bundle all the cash for them!
(Which I dont recommend )

But its MY bank that I have my loans thru
My checking accounts. My money markets. My cc deposits. Etc

They better do that or I ll get another bank!

WTH kinda bucket you got, that when full is only $2,000??!!! You can't lift our buckets, when 1/3rd full.!!!

 

[edredtop]

WTH kinda bucket you got, that when full is only $2,000??!!! You can't lift our buckets, when 1/3rd full.!!!

Sounds like a 3 gallon bucket:
$3,000 / 5 gallon bucket is $600 per gallon
$600 X 3 gallons is $1,800 (he said "close to $2,000")

 

[ShinePro]

WTH kinda bucket you got, that when full is only $2,000??!!! You can't lift our buckets, when 1/3rd full.!!!

A full bucket to me is actually 1/3 full by volume
Otherwise I re - herniate my bad discs in my back.

 

[washnvac]

Local bank takes mine. I have a klopp counter. Put $1000 in a bag and take it. $1k goes into my account immediately.

 

[Wash4Life]

Local bank takes mine. I have a klopp counter. Put $1000 in a bag and take it. $1k goes into my account immediately.

Ditto here.

 

[cbchevy4x4]

https://www.amazon.com/gp/product/B07PS78D6B/ref=ppx_yo_dt_b_search_asin_title?ie=UTF8&psc=1

I buy these on amazon, put $1k in each bag and drop them off at the bank, usually $4k to $6k monthly. They immediately make the deposit, if there is a discrepancy from the armored truck company that picks it up, the bag is then returned to the bank. The armored company audits via scale, so my original sealed and serial numbered bag is returned to the bank and they can call me to verify the bag is untampered, if i choose to do so. In the last 5 years i have had 1 bag actually be incorrect and it is where i put too much in the bag due to a math error. The bank dumped it in their coin machine and recounted and adjusted the deposit accordingly. If a bank wont take your money its time to find another bank. We did this almost 15 years ago when the bank told us they were no longer taking our quarters. That bank lost several accounts from family members at the same time and they are still calling back to this day asking us to bring our business back to them.

 

[Earl Weiss]

Sounds like a 3 gallon bucket:
$3,000 / 5 gallon bucket is $600 per gallon
$600 X 3 gallons is $1,800 (he said "close to $2,000")

I bough an empty / new Plastic Gallon Paint container with nice thick handle from Menarda. I am able to put $700 in quarters in it and it has a nice screw on top. Quarters weigh 5 pounds per $100.
Carrying a gallon of paint is not something a crook would target. Looks like this but they sell them new and empty. https://www.menards.com/main/paint/...6db-f/p-1642874288088358-c-8010.htm?exp=false

 

[HeyVern]

I use the empty m&m canisters from Costco. Each one holds almost $600 in quarters and you get to eat the m&ms