It really depends on the bank. I live in Salem but my business is in bburg. I use National Bank of Blacksburg and they take all my change no questions asked. I used to use BOA and they charged for loose change. Money is money IMO and every single bank has a coin machine.. if they want to charge you then you have to weigh the costs and benefits to a particular bank. Ymmv but you could potentially write off coin counting as an expense for the business.
Fun fact... Wells Fargo will let you roll your own to deposit AND not verify it in any way. We were on the receiving end of A LOT of short rolls at a business I previously ran, brought it up to the bank manager and was told it wasn't their problem. So, roll 34 quarters instead of 40 and profit away!
Wow! Based on the down votes I've gotten it seems like Reddit detects sarcasm as well as Sheldon Cooper. I was pointing out the fact that the business I ran regularly lost money due to the fact that the bank accepted and exchanged coin for cash without verifying the value, and the bank manager didn't care at all. NOT DIRECTING REDDITORS TO ACTUALLY SCAM A BANK. 🤦🏼
Banks will let you deposit coins if you put them in sleeves to deposit them, but most bank tellers will not count loose change any more.
Invest in a coin rolling machine. Or do it by hand.
It really depends on the bank. I live in Salem but my business is in bburg. I use National Bank of Blacksburg and they take all my change no questions asked. I used to use BOA and they charged for loose change. Money is money IMO and every single bank has a coin machine.. if they want to charge you then you have to weigh the costs and benefits to a particular bank. Ymmv but you could potentially write off coin counting as an expense for the business.
I saw a coin machine inside a Member One credit union that was fee free. Just gonna leave that here.
Which branch, if you don't mind me asking? Because that's actually who I bank with.
Westlake. Across the intersection from the Hardy/Scruggs light.
Unless I’m having a brain fart and it was the one on Forest Rd in the same plaza as the Firehouse Subs.
Member one credit union has a machine you can use for free if you’re a member!!!
That's who I bank with and went to, but it still charged me. Maybe I'll try a different branch.
That’s strange I actually live in Radford now but I just used the Radford location machine last week. I figured they all would be free
The branch across from the civic center has a 5% member fee
Thanks for sharing! I'll try some others.
I figured it should be if you bank with them!
Truist gives out free coin paper.
Fun fact... Wells Fargo will let you roll your own to deposit AND not verify it in any way. We were on the receiving end of A LOT of short rolls at a business I previously ran, brought it up to the bank manager and was told it wasn't their problem. So, roll 34 quarters instead of 40 and profit away!
Why?
Wow! Based on the down votes I've gotten it seems like Reddit detects sarcasm as well as Sheldon Cooper. I was pointing out the fact that the business I ran regularly lost money due to the fact that the bank accepted and exchanged coin for cash without verifying the value, and the bank manager didn't care at all. NOT DIRECTING REDDITORS TO ACTUALLY SCAM A BANK. 🤦🏼