When cashing in coins, do banks still require you to roll them and write your account number on them?

Question

I want to avoid the 8 or 9% CoinStar fee at my local grocery store.

Answer 1

The bank I work at ask's you not to roll the coins because we need to put them through a coin machine to get a accurate count it's not that they dont trust the customer it's the fact that if the roll of coins is off the teller has to take the overage or the shortage. If the customer brings in rolled coins we have to break them open and run them through the coin machine.(Most banks have coin machine's)

Answer 2

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RE:
When cashing in coins, do banks still require you to roll them and write your account number on them?
I want to avoid the 8 or 9% CoinStar fee at my local grocery store.

Answer 3

What does the bank do a roll is short? They don't want to be stuck with the loss. So they need some way to contact you. The bank needs to ensure that you will make up any losses if it turns out that there weren't enough coins in any of the rolls. Whatever way you can convince them will be fine with them. One way is to deposit the rolls to your bank account. Then, if there's anything short, they'll just debit your account (just like an NSF check).

Answer 4

Coinstar works out in the end because it saves you the cost of wrappers and the time to sort all those coins for the bank.
Also supermarkets have more convenient hours. Bank drive thrus do not take rolled coins.

Answer 5

Yes, not only do they require you to roll them and put your information on them but most banks if you don't have an account with them they won't cash them in for you.

Answer 6

My bank does require you to roll them and write the account number on them. I'm pretty sure most do.

Answer 7

talk to your bank as most won't accept even rolled coins anymore. banks are the ones behind the coinstar as they got sick of taking coins and making no money for it.

found this out when I went to cash in my coins years ago.

Answer 8

I still have to do that when I bring coins to the bank... Just did it last month.

Answer 9

most banks prefer that you bring in the coins unrolled because they just drop them into the counter

Answer 10

i have been surfing the internet more than four hours today searching for answer to the same question, but I haven't found any interesting debate like this. it's pretty worth enough for me.