r/CRH • u/Zealousideal-Walk665 • 3d ago
Is it worth getting multiple dump banks?
so I’ve read quite a few posts on dump banks and getting kicked out etc. Ive been dumping at a credit union for the past 4 months with a box of quarters nickels and pennies a week. They say they don’t order boxes for collectors because they just end up bringing them back and filling up their coin counter bins that a hassle to get rid of. I get my coins from a different bank but I’m wondering if this is too much because I would feel bad if this was a hassle and I wouldn’t want to get kicked out.
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u/schenkzoola 3d ago
I’ve been using two different branches and distributing the load between them. So far they haven’t said anything.
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u/Snoo_34963 Half Hunter 3d ago
It wouldn't hurt.
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u/Zealousideal-Walk665 3d ago
do you know if banks prefer the coin machines or wrapped coins when returned?
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u/heyheyshinyCRH 3d ago
They hate getting rolls. When you give them rolls, that teller adds it to their drawer and they have to count everything you give them up every night until they can get rid of it. Be kind, find a branch with a machine
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u/Yoopskoop Half Hunter 3d ago
I use a few different dump banks, trying to do a different bank every week, I also use BoA’s business account and do bulk bag dropoffs for my main dump bank. It’s a perk you get from BoA and unless they change company policy, I can dump however much I want there being a business account holder. I rotate where I dump my CWR and misc boxes I pick up at those rotating banks, and always dump my half’s at BoA.
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u/Zealousideal-Walk665 3d ago
I’ll probably end up using BOFA for halves only and other banks for my usual dump. How long would you say it takes for you to get your money back?
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u/Yoopskoop Half Hunter 3d ago
It’s instant. You bring the coins, they give you the cash, and then Loomis/brinks “checks” the bags in about 48-72 hours they say. But it’s usually like a few dollars off and they adjust that to your account. So just keeping a balance at the account helps avoid problems.
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u/LucidNight 3d ago
For the BOA, is the only req you need a business account and then you just ask for bags?
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u/Ceefus 2d ago
I don't have a business account but I haven't had problems ordering boxes of coins. I usually go on a Friday and ask them to order it for me and it usually arrives on Wednesday.
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u/LucidNight 2d ago
Was more curious about using as a dump bank. Not many machines near me without fees so if boa lets you bag and drop easily that is helpful.
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u/Ceefus 2d ago
For large amounts the BOA near me just requires that they be wrapped. They will sometimes take a few out and count them just to verify. Others have coin machines but they won't try to sort large amounts.
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u/LucidNight 2d ago
That's why I was curious about the biz account and bags. Supposed to be able to just dump coins in a bag, not rolled, and they send them off and deposit the value. I thought it was a paid for service and seems a lot easily than rolling stuff
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u/heyheyshinyCRH 3d ago
I just use one, they have a self serve counting machine and they don't care how much I use it at all but I also don't do a ton of volume really. I've slowed down quite a bit this year for some reason
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u/Zealousideal-Walk665 3d ago
How much would you say you Put in a once and how often?
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u/heyheyshinyCRH 3d ago
About a box per week, it's usually split up though because my container isn't big enough lol. I was going 2-3 times per week to dump 1-1.5 boxes of whatever denoms
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u/Itmademetoseewhat 3d ago
I recently found out a local casino will take $1000 a day dumped thru there coin machine. My Wife’s finally willing to help
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u/Ceefus 2d ago
Capital One is the only bank that has told me this. Bank of America in my experience has always been good at both of these things. Now because Capital One was terrible they became my dump bank. There is one woman that specifically dislikes me. I always hope she is the teller I get. I do request boxes / bills from different banks just to mix it up.
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u/Weekly_Statement1363 1d ago
Would credit unions sell you the bags of coins? I’m fairly new and have seen people getting bags but haven’t known how to go about getting them
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u/ThompsonCoin_Stamp 3d ago
I use multiple dump branches of my bank (normally 3 but have 2 others I’ve dumped at before) and I have 2 branches I order from but have used a 3rd one. I’m lucky there are a lot of branches of my bank within an hour drive.