Getting Ripped Off At Coin Counting Machines At Bank?

[Shmily1]

I saw that on tv the other night. That's awful.

Our bank has a machine and they can't take rolled coins any more.

 

[PlainJane]

I would check around. Some banks will provide free wrappers and accept your change even if you're not a customer. It's just going to vary by area.

I used to use rolled coin mostly to buy gas.

 

[Kogo Shuko]

I keep meaning to take some change to a coinstar machine to have it counted. We don't use pennies anymore so I'm wondering if I put in 1.03 if it would be rounded up to 1.05. Do that enough times and you could have a nice profit..

Do we even have these in Canada? I don't think I've ever seen one. I've seen them in upstate New York.

If pennies aren't used anymore, then the machine would probably be programmed to spit them back out. Rejected coins get returned.

Pennies are no longer being made or handed out in change here in Canada, but you can still use them. I could still technically give a cashier pennies, but they wouldn't hand them out in change to anyone else. (I can also pay with half dollar coins, or any other coin that is not in regular circulation) And the prices of items still come to odd numbers that would require pennies, however Canada has implemented a system that if you are using cash it will either round down or round up to the closest 5 cents. If you're using interac or debit, there is no rounding done.

So Kimblebee does have a good question... I just don't know if we have these machines. I've never seen one. I usually roll my coins and bring them to the bank to exchange for bills.

 

[fly girl]

I'm with PP's, my bank won't take rolled coins. However their coin machine is free.

DH collects his change in an old milk jug. Once it's full we take it in and deposit it into DD's college account.

 

[kimblebee]

Do we even have these in Canada? I don't think I've ever seen one. I've seen them in upstate New York.



Pennies are no longer being made or handed out in change here in Canada, but you can still use them. I could still technically give a cashier pennies, but they wouldn't hand them out in change to anyone else. (I can also pay with half dollar coins, or any other coin that is not in regular circulation) And the prices of items still come to odd numbers that would require pennies, however Canada has implemented a system that if you are using cash it will either round down or round up to the closest 5 cents. If you're using interac or debit, there is no rounding done.

So Kimblebee does have a good question... I just don't know if we have these machines. I've never seen one. I usually roll my coins and bring them to the bank to exchange for bills.

I've seen them in a bunch of Safeways. Now I'm really curious lol

 

[RedAngie]

I'll see if the Coin Star at the supermarket gives out gift cards without a fee. That would be acceptable. If not, I'll just wait until my bank gets their act straightened out. Not a big deal. My bank won't accept rolled coins anymore.

It's mostly DH who puts coins in the change jar. I usually use a debit or credit card for practically everything, even a cup of coffee at a C-store.

While we're on the subject, I think the U.S. should follow Canada's lead and eliminate the penny. Maybe the nickle too. Just round all cash purchases up or down to the nearest 10 cents.

 

[Nohal]

I'll see if the Coin Star at the supermarket gives out gift cards without a fee. That would be acceptable. If not, I'll just wait until my bank gets their act straightened out. Not a big deal. My bank won't accept rolled coins anymore.

It's mostly DH who puts coins in the change jar. I usually use a debit or credit card for practically everything, even a cup of coffee at a C-store.

While we're on the subject, I think the U.S. should follow Canada's lead and eliminate the penny. Maybe the nickle too. Just round all cash purchases up or down to the nearest 10 cents.

I have always felt that the TD coin machines were giving me less than I put in. DH has one of the banks that counts the coins as they go in and keeps a running total. I just figured that if I wasn't a customer or did it at coinstar I would have to pay anyway so I never said anything. It would have been my word against the machine so what was the point. The lady at my branch told me that if you can cash your coins someplace that charges get a receipt and TD will reimburse you. Also told me that sometimes coins would get stuck and not be counted and a bunch of other excuses which I wasn't so sure were true. Hopefully they will get fixed and be up and running before my next trip.

 

[DisneyMommyMichelle]

Our bank will not take rolled coins, we just bring in our jar and their machine counts it. The first few times, we counted the money out ourselves to make sure we the machines were accurate and have always been right on We use milk jugs and take them in when they are full. We don't spend any coins at all and at the end of every day, we also stick any singles we have in the jar

 

[ronandannette]

I've seen them in a bunch of Safeways. Now I'm really curious lol

Yeah, Safeway is the only place I've ever seen them locally but I've never tried one. There's an annual fund-raiser we participate in that is a "change drive". We just dump whatever we've got accumulated on them and let them worry about sorting it.

 

[Goofy_Disney_Dad]

I can't remember the last time I used cash so it would take me forever to fill a change jar. Our credit union does have a change counting machine though, so it appears I'm unusual in my lack of cash/coin usage.

 

[rgf207]

Our bank got rid of the machines. You have to roll your coins in order to exchange them now.

I believe coinstar only charges a fee if you get cash. I think they offer gift cards and those don't have a fee.

 

[LAB81018]

I'll see if the Coin Star at the supermarket gives out gift cards without a fee. That would be acceptable. If not, I'll just wait until my bank gets their act straightened out. Not a big deal. My bank won't accept rolled coins anymore.

It's mostly DH who puts coins in the change jar. I usually use a debit or credit card for practically everything, even a cup of coffee at a C-store.

While we're on the subject, I think the U.S. should follow Canada's lead and eliminate the penny. Maybe the nickle too. Just round all cash purchases up or down to the nearest 10 cents.

If you go to coinstar's website, you can select a gift card and then do a zip code search for kiosks which offer it. The ones at Walmart for instance will not offer amazon or old navy/gap.

 

[littleblackegg]

But if I put in $1.03 worth of pennies I couldn't get paid that because pennies aren't currency any more. the way they work here is that you put in your change, you get your receipt, and then you go to the customer service desk (they're in grocery stores) and they give you the cash.

???. Pennies are legal tender, and can be used to pay anything-public or private. They are certainly difficult to use and deposit, but any bank is required to deposit them. There are some companies that do not accept cash, and there is no federal statute that requires a business to accept cash. The details can be found at treasury.gov.

 

[kimblebee]

???. Pennies are legal tender, and can be used to pay anything-public or private. They are certainly difficult to use and deposit, but any bank is required to deposit them. There are some companies that do not accept cash, and there is no federal statute that requires a business to accept cash. The details can be found at treasury.gov.

Businesses are under no legal obligation to accept the penny any more. This is according to the Mint. Quoting a .gov website is pointless since you know, we're a whole separate country and all..

 

[Missy1961]

???. Pennies are legal tender, and can be used to pay anything-public or private. They are certainly difficult to use and deposit, but any bank is required to deposit them. There are some companies that do not accept cash, and there is no federal statute that requires a business to accept cash. The details can be found at treasury.gov.

That poster is from Canada.