Change Jar Question....

[Mom2Ashli]

My CU has a coin counter that they charge 3% for unless your child has an account there and will be depositing it in the acount it is free. They also told me even if the coins are rolled they will still charge you the 3% fee or free if it is going into your kids account. So I would double check with your bank first. That might help you decide which way will work for you. I would much rather dump my change in a machine than have to sit there an roll it. Especially if they are going to charge you either way.

 

[BostonTink85]

jrjac the thing is a lot of those change machines in grocery stores take a rather large percentage of the coins that it counts. I know I'd rather take the time and do it myself rather than lose money to a machine/company. Just my opinion though

 

[HoneyPooh]

We have Commerce Bank here as well. I started taking my change there to have it counted for free and liked the people there so much I ended up changing banks to Commerce. Guess their ploy worked huh .

 

[Rex Rules]

At our bank, you just bring in your container and leave your account number with them and they put it in a machine during downtime and credit it to your account.

 

[toystoryduo]

TOYSTORYDUO,
Don't you have those machines that count the change for you in your local grocery store??

Yes, I think we have a Coinstar in our local grocery store. I'm not sure what the % is to use it, but we want to keep as much of our money as we can. More Mickey ice cream bars that way.

We don't mind counting the money, rolling it, and exchanging it for dollars. We just need to figure out if we are going to take the change in all at once or if we are going to take it in bit by bit. My DH said today that his credit union might have one of those machines. If they do and it's free or a very minimal fee to use it (like 1%), then we'll wait until late November to cash in our change jar.

Thanks everyone for your replies!

 

[lts862]

We bank with Commerce and they have the free machine right in the lobby. It is very convienent! The kids love to watch the dollar figure go up, as the machine counts the coins.

 

[disneymom225]

Our local bank has a change machine that will count the change. It prints out a receipt and you take it to the counter and get your "real" money. They also have them in grocery stores but you have to pay a percentage of the total. We did this w/ a water cooler bottle--it was only about 1/4 full and it was over $300!!!!!!! Good luck!

 

[kelleigh1]

Ask at your bank before you do anything!

A few years ago, I had a bunch of change and I rolled it. Then I get it to the bank and they tell me that they don't take rolled coins. They put it through the change machine. Now...I think they only take rolled coins or they charge to use the maching.

I have another bank that we used to set-up a savings account when my husband and I got engaged so we could save money for the wedding. That bank only takes rolled coin.

I would definitely check with your own bank branch to find out how they handle it.

 

[toystoryduo]

Ask at your bank before you do anything!

A few years ago, I had a bunch of change and I rolled it. Then I get it to the bank and they tell me that they don't take rolled coins. They put it through the change machine. Now...I think they only take rolled coins or they charge to use the maching.

I have another bank that we used to set-up a savings account when my husband and I got engaged so we could save money for the wedding. That bank only takes rolled coin.

I would definitely check with your own bank branch to find out how they handle it.

Thanks for the tip! We bank at a couple of different banks and a credit union so we are going to call and see what their policies are regarding rolled coins. I would certainly be upset if we rolled all of these coins and then were told that they aren't accepted. Thanks for the heads up!

 

[kelleigh1]

You're welcome! I was so frustrated. The only good thing was that when I'd gone to the bank, I'd forgotten to bring the rolls with me but I just asked while I was there and that's when they told me not to roll them. So I went home and unrolled everything. I am going to have to ask again tomorrow when I head to the bank...since they were just bought out and I have no idea what the new policy is. In a few months, we'll be ready to cash ours in.

 

[airplane]

Up until last night, I thought my fiance was the smartest person in the world. He asked me if I was contributing to the change jar he has that will be used for our vacation fund. I told him I forgot about it and I will start right away. He uses a gigantic wine bottle that he got from a restaraunt. I picked up the bottle last night and noticed he did not wash the bottle out before he started to put change in it. My first concern was how we are going to get the money out w/o breaking the bottle now I realize we are going to have to break the galss b/c all of the change is going to be stuck together.
What bank is going to take change mixed w/ red wine and glass?!?!

 

[can'twait]

Yes, check with your bank first because our bank started charging us a fee to deposit rolled coins. I have started using quarters to pay for parking in parking garages and trying to give exact change whenever possible. I never minded rolling the coins but I don't think I should have to pay a fee to run them through a counter or deposit them. Just my humble opinion.

 

[etwinchester]

Up until last night, I thought my fiance was the smartest person in the world. He asked me if I was contributing to the change jar he has that will be used for our vacation fund. I told him I forgot about it and I will start right away. He uses a gigantic wine bottle that he got from a restaraunt. I picked up the bottle last night and noticed he did not wash the bottle out before he started to put change in it. My first concern was how we are going to get the money out w/o breaking the bottle now I realize we are going to have to break the galss b/c all of the change is going to be stuck together.
What bank is going to take change mixed w/ red wine and glass?!?!

Well, you could fill the bottle with water and then empty it into a food strainer. Then in the strainer, add a little detergent to get the wine/stickiness off.

Let me back up, instead of the "you" comment in the first sentence, replace with "YOUR FINANCE" since he was the intelligent one who messed up !!!

 

[Rootskate]

I checked the "Coinstar" machine at Stop and Shop last night.....they take 8.9 cents for EACH dollar you cash in. Yikes.

 

[HLAuburn]

We just took all our loose change in today...$80! Not too bad, considering it's just been sitting there in a jar for years! At least now it can go towards our Disney trip.
We took the whole jar to our bank and out it through the coin machine. Took about 10 minutes and they don't charge you anything if you're a customer there. It took about 10 minutes for the coins to be counted. Many grocery stores around here have CoinStar, but like the PP said, I think they charge almost 9%.
Definitely try some local banks, and whatever you do, DON'T waste time rolling all of it!

 

[can'twait]

I usually roll it while watching TV. Never underestimate a mom's ability to multitask! LOL!

 

[DISshopkeeper]

Where we live, Commerce Bank has the counting machines in the lobby for free use (even if you don't bank there). Then it spits out a receipt for you to bring the teller who will give you that amount.

Also, the Food Emporium has a counting machine, but it charges 10% Total ripoff!

Same here! Gotta love the free pens, too!

The counting machines here at Commerce allow you to make a guess on your total and if you come within $1.99, they give you a prize. I was off by about $13.00. The "prize" is probably one of those free pens anyhow!

 

[etwinchester]

I haven't found a coin machine in our area that doesn't charge. I decided to roll our change while watching TV as well...saves my money.

 

[DiznEeyore]

TCF is another bank that doesn't charge its customers for using the coin machine. I believe the fee for non-customers is less than CoinStar machines, too.

 

[yeartolate]

My son came to me and wants to donate his change jar to the hurricaine victims. It gave me warm fuzzies! We will be taking his jar down to the coinstar machine in the morning!!!!