Today I returned a $200 bag of 50¢ and a $100 bag of 20¢ to my local branch. Let slip that I got them from the change in the next (bigger town) -local didn't have any spare coins the day before and I had to go to next town anyway. I was reprimanded because "those machines are for businesses wanting change" and "those machines only have a limited quantity of rolls".
I nodded my head and did not comment but thought "aren't those machines for customers -you have to have a card, linked to an account at that bank to use them- and to get the equivalent of two Armaguard bags takes me two transactions and 12 minutes". The same transaction at my local, small town town branch takes about two minutes -unless we have a chat; small town, everyone knows almost every one else. :sleepy:
So are those machines a convenience for the customer or a cost saving for the bank? Rhetorical question, I think you may know the answer anyway.
And don't start me on the coin deposit machines! Maximum 2kg deposit, so if you take $200 of 50¢ coins to deposit that is three separate transactions. Also they are slow and tend to refuse coins* that have no apparent defect.
*Including coins their change machine issued previously.
As has been said many times by many people, Banks are not there just so that noodlers can continually withdraw change and return it.
I wouldn't make too many waves about this otherwise they will start to charge you for the transactions.
I use those change machines all the time, but I've never seen a businessperson use them. You should ask the attendant why a businessperson would go there instead of having the coins delivered straight to their door. I don't know how many rolls each machine can hold, but the bank I go to is fairly generous with their limits. :winkextra:
Bank deposit machines with the conveyor belt are the go I rarely deposit coins but when I have these are the go
I have often gone to the hole in wall rolled coin machine and although there is a sign stating "limit $1000" I have never been able to get passed $400 at a time.
What a waste of time.
QuoteWhat a waste of time.
Indeed, the one I go to sometimes (only one within 100km of where I live) will not dispense more than $96 of 20¢ in one session. Not sure what the limits are on other denominations. Often seems to stall for a few minutes, displays an error message and refunds your money ; usually in a combination of notes and $1 coins when you only fed it notes.
A few weeks ago three of us took turns in trying and all went inside the branch to mention the machine was not working properly. Then line up to try again after they said they fixed it.
Rinse and repeat! One woman managed to get her change at the desk but they told me "we are not allowed to give change in here". Took me 40 minutes to get my required allocation.
I think the problem is the machines jam because they load them with broken rolls -but they do wrap them with sticky tape first! :dodgy:
Much quicker at my local branch (none of these fancy machines there) where they just hand them over the counter.
Obviously the machines are designed to lower the bank's cost by reducing staff numbers and customers can take it or leave it. One day a chap I know who used to work for the said bank saw me getting frustrated and commented "Don't bother going inside there is no one left to serve you anymore"
One step forward for technology, two steps back for customer relations. :scared:
You're doing well to get $96 worth of 20c coins at once. The one I use has a limit of 12 rolls per denomination, which is why my noodling stats are done in multiples of 12 x (the number of coins in each roll). This equates to:
5c: $24 (480 coins)
10c: $48 (480 coins)
20c: $48 (240 coins)
50c: $120 (240 coins)
$1: $240 (240 coins)
$2: $600 (300 coins)
If you want any more than that, you have to go back for seconds, but I don't like doing that in case they run out too quickly, and the bank decides to start charging for the privilege. :winkextra:
I try and avoid the double too but I've taken to always doing the 50c rolls in a separate transactions as they have a nasty habit of getting jammed.
I have found out that if you are an account holder at the bank, there is no charge for changing notes to coins.
If however, you are not an account holder, the you can be charged up to 1% for note to coin exchange and that works out very very expensive.
Quote from: 'Goldseeker' pid='115573' dateline='1528011453'I have found out that if you are an account holder at the bank, there is no charge for changing notes to coins.
If however, you are not an account holder, the you can be charged up to 1% for note to coin exchange and that works out very very expensive.
Is that over-the-counter? The coin exchange machine I use won't work unless you have an account with the bank that owns it.
Hercules, as far as I know, that is all banks.
I have tried pretty well most of the banks and I get the same message. Not an account holder then we will charge you for the exchange. That certainly applies to over the counter exchange .
If you don't have an account with the particular bank organization, then one can't get coins from the hole in the wall as one wouldn't have a card.
Catch 22 at the CBA.
I was just spoken to by the branch manager and told not to take more than $100, or so, from the change machine in a day as they run out of rolls if too many people take too much.
So I asked about the possibility of getting, say, a $500 bag of dollars at the counter. "We have a change machine so we are not allowed to give out coin directly."
I only go to that branch no more than once a month so it is good that my usual branch does not have a change machine -in fact they are happy to give me bags of Armaguard rolls and I bring it back next day in ziplock bags. Or, if someone banks a bulk bag I save them counting it out into the little bags.
Your lucky there JeffH. I only wish I could get the large bag with either loose or rolled coin but can't.
Ummmmm....
Two things:
1. I've never yet been refused sacks of coins. But then I only use branches that have internal coin machines. They back onto a strongroom where the sacks are kept, and staff are more than happy to go in there and get me what I want. Mind you, I don't bother much anymore now that they're all rolls, since Armaguard don't roll new coins.
2. Why would anyone NOT have accounts with all the banks? Not like there's any cost involved. I do all my 'real' banking with CUA (because who else gives you 2.7% or better at call?), but I got sick of the 'are you a customer?' questions, and opened accounts everywhere for this reason alone.
But yeah, we were discussing the crappy state of affairs at the MNS meeting tonight... its not getting any easier to get your hands on coins, especially in UNC condition. :(
Anybody want to buy my money bin and all its contents? I reckon I should start collecting bottle tops or something instead. :dodgy:
I am saving my bottle tops now. Stand by for a swap offer soon.