Coin counting- an easier way!

[crazymomof4]

We have always saved loose change for whatever vacation was coming next. It's exciting to seperate and count it, but rolling it was a drudgery. I balked at paying the fee charged by some coin counting machines, not wanting to part with any of our dear savings. This year we got wind of a local bank that has a machine with NO CHARGE! It sorts and counts your coins and spits out a reciept that you take to a teller for your bills. My husband and kids went and they were gone so long I thought they were caught in a robbery of the bank! He said the process took about 20 mins. because it only counts out so much coin at one time. Still it was a lot faster than rolling $688!!!!
We are putting it in a savings account along with other "found money". Our trip is not until Sept. so I'm anxious to see how much more we can save between now and then.
We live in NJ and the name of the bank is Commerce. I'm not sure how widespread they are, but check banks around your area. I'm sure there must be more that offer this service

 

[disneysteve]

I'm in NJ too. I constantly hear the Commerce ads but I've been wondering if the free coin counting is only for account holders. Can just anyone walk in and have coins counted for free or do you have to have a Commerce account?

Steve

 

[crazymomof4]

I had the same question bc. we do not have a Commerce account. So I called our closest branch (Cinnaminson). It's open to everyone! I'm sure that's an across-the-board policy, but call your local branch to be sure before you lug those heavy coins out of your home.

 

[catwho]

Wow!! $688?!?!?!?! That's great!!! We roll our coin in batches as our "coin cup" gets full. We have found the "coin cup" holds roughly $45 in change when full. It's half full again and 31 days left until we leave. I think so far we have rolled maybe $100 in the past year. Wow, $688. I'm envious!!

 

[crazymomof4]

Catwho, if you think that $688 is good, read the responses to "How much change have you saved?" !

 

[adamak]

Me too! I just switched to Commerce and have been using the free coin counting since then. I cannot find anywhere else that would do it for free.

I found about $300 so far. I am so hapyy about it and we're now actively saving all those loose changes.

 

[mad4themouse]

Commerce is in eastern PA and DE as well. Love this bank. I've been a customer for years. They're even open on Sundays!

 

[LOVETHATMOUSE]

that's great about the change!! We are having a Commerce bank open in my town soon. We don't leave for WDW until 12/03, so that will give me plenty of time to save up change and roll it in the new bank.

 

[Lewisc]

If you can't find a bank that will count for free and HAVE TO USE one of the machines in the supermarket TAKE THE TIME TO TAKE OUT your quarters and higher.

 

[catwho]

Originally posted by Lewisc
If you can't find a bank that will count for free and HAVE TO USE one of the machines in the supermarket TAKE THE TIME TO TAKE OUT your quarters and higher.

Since I've never seen one of these machines, why? Is it because it is based on percentage of rolled coins, so quarters would add up fast? Pardon my denseness (and lack of caffeine)

 

[Lewisc]

Originally posted by catwho
Since I've never seen one of these machines, why? Is it because it is based on percentage of rolled coins, so quarters would add up fast? Pardon my denseness (and lack of caffeine)

The machines charge a percentage (typically 7.5%). Some people don't want to spend the time to roll all of their coins. It may be worth the fee to avoid having to roll a lot of pennies but certainly wouldn't be worth it for dollar coins for example. In other words the cost PER COIN is a lot higher for the higher denominations but the work to roll the coins is the same.

I am puzzled by the people who take the time to save the change but then give back 7.5% (or more) in counting fees. I'd either get my bank to do it for free or roll the coins.

 

[dahess]

I have never rolled coins. Our local bank, we do not have an account there, cashes in our change

 

[Alice28]

Our credit union counts the coins for free too...although we have an account there, I just go in, plop my coins down and ask them to please count them, and less than 2 minutes later, the teller comes back with a receipt and counts out my money in dollar amounts. They don't ask for an acct. number or anything.

 

[DiznEeyore]

The Commerce banks sound a lot like TCF here in Michigan (not sure if there are branches in other states). My dh has an account there -- they have really long hours including Sundays, and they also have the free change-counting machine. He's always trying to get me to use it, but the truth is, I *love* counting change! I get a huge amount of pleasure from rolling it and seeing it add up. I suppose that makes me weird.... LOL!

 

[Gillian]

The 2 Commerce banks near me cash in your change even if you don't have an account. It's a wonderful service!

 

[elgerber]

You have TCF in Michigan? I wonder if it's related to our TCF, which has long hours and Sundays. It seems weird though, as our TCF stands for Twin City Federal. Could just be a coincidence. I bank at Wells Fargo and have always had my coins counted and deposited for free.

Erika

 

[Debi]

I just took my change to Commerce Bank this morning (I have a checking and savings account through Commerce). In the course of the last month, I accumulated $14 in change. Not a lot, but every little bit helps! I love Commerce's "Penny Arcade." It definately beats rolling the change yourself!

 

[DiznEeyore]

Erika: My dh is reading over my shoulder and he says Yup, it's the same TCF.

 

[CookieGVB]

I've seen the machine in my local Commerce, but thought for sure it was only for account holders.

I'm on my way there from now on. Cha-ching!