Grrrr! BB&T now charging for coin counting!

[StitchandPooh'sMom]

This is not a huge deal in the grand scheme of things, but it has me aggravated. BB&T bank has coin counters in the lobby available to anyone. They used to be free to use, but starting September 1st, they began charging 5% for account holders (over $25) and 10% for non-account holders (any amount). We bank at BB&T, but paying 5% to deposit my own money completely negates the 5% discount I get at Target on Disney gift cards!

They said I could deposit rolled coins if I put my phone number on the rolls, but they said they give the rolls out (with the phone number) to people who come in for change.

I'm not sure how it makes money for BB&T for me to come in 8 times with 24.99 each time to avoid the $10 fee that would be charged if I came in to deposit $200 one time. Besides the inconvenience to me (and the time cost to avoid $10 ), the teller would have to process transactions on eight different occasions instead of one.

Oh, well - I will adapt to avoid the 5% loss and plan to deposit small amounts when I am in the branch for something else, but it messes up my plans for accumulating Disney change and bringing it all in at once! It is just one of many new fees that BB&T seems to be implementing.

 

[Swimalie]

That's not good. I can see charging for non-account holders but not account holders. I have a business bank account at a certain bank just so I could get the free coin counting. I hope more banks don't follow BB&T's lead.

 

[bearloch]

IK they wont let my pay check count as wellthey put a 2 day business hold on it so getting pd on Fri means no money till Monday! its a load of crap!!! and to boot they are certified comdata checks they have to call in and get a authorization to accept the funds first too!! ugh!

 

[Colleen27]

Have you looked into Coinstar? The machines in my area do no-fee counting if you opt for a gift certificate instead of a cash voucher, and they offer Amazon, Lowes, CVS, Sears (which can be used at Kmart too), etc. I cash my change in that way since we regularly shop at several no-fee participants, then take the cash out of our normal budget and buy a same-value Disney card to add to our trip savings.

 

[Lewisc]

If you're stuck paying a fee, and don't want coinstar gift certificates, quickly go through your coins. Pull out as many quarters (half dollars and dollars if you have any). That should cut your total fee, and work, down substantially.

Roll the quarters, deposit them unrolled or change them for paper currency at a store.

 

[plummer925]

If you don't like the idea of your phone number being out there, how about getting a cheap tracfone for $10 and then using THAT number - yea, it will be an "upfront" cost but then you can deposit rolled coin.

I just switched from Bank of America to a small-town bank (with about 10 branches, so lots of assets). NO fees for ANYTHING. I love it. Maybe it's time for you to look into other banks too if your bank is doing that (I'd be more concerned abt them holding a payroll check than the coin fee, personally!).

 

[EMAW_KSU]

This is not a huge deal in the grand scheme of things, but it has me aggravated. BB&T bank has coin counters in the lobby available to anyone. They used to be free to use, but starting September 1st, they began charging 5% for account holders (over $25) and 10% for non-account holders (any amount). We bank at BB&T, but paying 5% to deposit my own money completely negates the 5% discount I get at Target on Disney gift cards!

They said I could deposit rolled coins if I put my phone number on the rolls, but they said they give the rolls out (with the phone number) to people who come in for change.

I'm not sure how it makes money for BB&T for me to come in 8 times with 24.99 each time to avoid the $10 fee that would be charged if I came in to deposit $200 one time. Besides the inconvenience to me (and the time cost to avoid $10 ), the teller would have to process transactions on eight different occasions instead of one.

Oh, well - I will adapt to avoid the 5% loss and plan to deposit small amounts when I am in the branch for something else, but it messes up my plans for accumulating Disney change and bringing it all in at once! It is just one of many new fees that BB&T seems to be implementing.

I would be finding a different bank.

 

[StitchandPooh'sMom]

If you're stuck paying a fee, and don't want coinstar gift certificates, quickly go through your coins. Pull out as many quarters (half dollars and dollars if you have any). That should cut your total fee, and work, down substantially.

Roll the quarters, deposit them unrolled or change them for paper currency at a store.

That will probably be my approach. I can put $20 worth of quarters into the machine easily enough and not pay a fee. It is way better than counting all the pennies!

 

[bumbershoot]

Before Wamu became Chase, they were charging 10% on rolled coin deposits of more than maybe 3 rolls at a time. They said that they transport that money elsewhere, they don't use it, and the transport companies charge by weight.

 

[PrincessSuzanne]

First thing I would do is take my banking somewhere else, no way would they be holding my paycheck until the following Monday.

Our Credit Union has a coin counting machine and it's free for account holders. You can easily open at the very least a savings account for $25, even if it is just for use of the machine.