Am I the only one that didn't know coinstar sued banks and won? - Pirate4x4.Com : 4x4 and Off-Road Forum
 
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Old 12-07-2018, 08:50 AM   #1 (permalink)
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Am I the only one that didn't know coinstar sued banks and won?

Today in things that piss me off . Government mandated expense and inefficiency.

Recently my 1 gallon glass beer growler that I use as a coin bank had gotten full again from over two years of pocket unloading. As in years past I tried to take it to banks of which I'm a customer for the free coin sorting and have the money put in my bank account. The branch manager told me, that since the last time I had done so, coinstar has sued several banks for infringement and ALL banks have since had to discontinue that service.

I decided no fawking way was I going to eat the 12% coinstar fee because my jug usually has about $150 bucks when I dump it. So I sat on the couch drinking beer one night and hand rolled most of my coins, then took it to the bank as they instructed. When I handed it over I asked the teller how they count the coins to make sure they didn't get shorted. She said the break open the rolls, dump them into a coin counter and re roll them. The money was a pending transaction on my account for a couple days until they got my $133 bucks sorted through the same machine they used before but can no longer offer to me.

https://wallethacks.com/coinstar-free-coin-counting/

Cliffs:
I might be a grumpy old cunt but that is just the stupidest thing I've heard. Coinstar has the monopoly on coin sorting at 11.9% fee, and the workaround is to hand roll coins, that gets unrolled recounted and re-rolled.

I have a new goal. I'm going to save up a 5 gallon bucket of pennies only and have a child wheel that into a coinstar on a dolley and see how many dollars it can chew up before the machine eats itself.
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Old 12-07-2018, 08:54 AM   #2 (permalink)
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Did you research it to find out if your bank is being truthful?
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Old 12-07-2018, 08:59 AM   #3 (permalink)
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I just put my coinstar money on a home depot card or starbucks or whatever and they don't charge any fee.

I'd bet your bank is lying too. (probably they were told that by someone who was lying and they are just retelling a lie that they think is true.)
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Old 12-07-2018, 09:01 AM   #4 (permalink)
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You need a different bank.

Mine sorts and counts for free.

Actually, last time I rolled coins, I had to take them all out of the wrappers and dump them in the machine, because they wouldn't except rolled coins.


Edit: and I just called to make sure nothing changed and it has not.
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Old 12-07-2018, 09:01 AM   #5 (permalink)
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Did you research it to find out if your bank is being truthful?
Some googling yes. There has been several lawsuits over coin machines for various reasons. One was a class action that proved that the chains coin sorting machine was always off and shorting people. I bank with wells fargo, and nationwide they have removed the free coin sorting option.

Edit, I went to 3 different wells fargo's before I ended at the main branch in town, where I got the excuse from the manager about a suit.
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Old 12-07-2018, 09:01 AM   #6 (permalink)
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My bank has a sorter 🤷*♂️
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Old 12-07-2018, 09:03 AM   #7 (permalink)
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Being a past employee of several major banks, I'd bet it's more likely that coin counting is an added expense that doesn't gennerate quantifiable return on investment, and is probably more a magnet for brokedick cheap penny pincher Fawks as clients... ( edit: with Wells Fargo, that's a virtual guarantee that this is the case.)

My credit union has free coin sorting/counting.
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Old 12-07-2018, 09:03 AM   #8 (permalink)
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i read the article and coinstar didnt sue banks

some joe blow sued a bank for shorting him due to a coin sorting/processing error, so now most banks say no thanks

misleading thread title is misleading
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Old 12-07-2018, 09:05 AM   #9 (permalink)
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:shrug: I just use my change, rarely have even 2 bucks' worth of jingle on-hand.
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Old 12-07-2018, 09:12 AM   #10 (permalink)
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My bank has a sorter 🤷*♂️
Yep, the coin machine is right behind them too
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Old 12-07-2018, 09:13 AM   #11 (permalink)
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Being a past employee of several major banks, I'd bet it's more likely that coin counting is an added expense that doesn't gennerate quantifiable return on investment, and is probably more a magnet for brokedick cheap penny pincher Fawks as clients... ( edit: with Wells Fargo, that's a virtual guarantee that this is the case.)

My credit union has free coin sorting/counting.
See, Here is my take on the free coin sorting and counting.

I don't see any bank taking your word that your coin roll is accurate. Some machine is going to verify, some where in the process. So, at some point there is some automated coin count going on. Like I said, my credit union will make you dump the coins out of your roll and put them in the counter. It makes sense.
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Old 12-07-2018, 09:22 AM   #12 (permalink)
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I used to fill up a 5 gallon water bottle, but the wife kept robbing it for quick cash. now I have a 30# refrigerant bottle out in my shop that I cut a slit in to for my catcher. I was thinking about welding it up when it full and give it to the grand kids or something.
there is my useless info for the day.
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Old 12-07-2018, 09:23 AM   #13 (permalink)
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I'm not seeing anything about the name brand coinstar being responsible. Here is direct from wells fargo on the matter. Some of the comments made my I'm not the only grumpy cunt that doesn't appreciate it.

https://www.wellsfargocommunity.com/...deposit-policy
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Old 12-07-2018, 09:25 AM   #14 (permalink)
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Originally Posted by Filthy McChevy View Post
Did you research it to find out if your bank is being truthful?

Drinking beer on the couch one night, is research.


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I'd bet your bank is lying too. (probably they were told that by someone who was lying and they are just retelling a lie that they think is true.)

That's like lying again or, "re-lying"


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Wells Fargo, that's a virtual guarantee that this is the case.

Wells Fargo is the cunt of all banks.
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Old 12-07-2018, 09:26 AM   #15 (permalink)
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one of my CUs shifted from free to a small percentage charge and the reason given was that people weren't taking paper clips and similar items out and they were causing the machines to be down and costing money for service calls. The other still has them for free in the lobby of most branches.
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Old 12-07-2018, 09:28 AM   #16 (permalink)
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I use a credit union, their coin sorter is in the entry way. It gives a slip and you take it to a teller for redemption. If you are a customer, no charge, non-customers can still use it, but there is a fee. It also has a disclaimer saying they do not guarantee the accuracy. We got about $800 the last time we counted. 5 gallon jug about 1/3 full.
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Old 12-07-2018, 09:33 AM   #17 (permalink)
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I go in and flirt with all the gals at my small bank branch. I still get serviced for free.
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Old 12-07-2018, 09:49 AM   #18 (permalink)
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I go in and flirt with all the gals at my small bank branch. I still get serviced for free.

Sounds like my kind of bank.
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Old 12-07-2018, 10:13 AM   #19 (permalink)
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Took the change bucket in a few weeks ago...no issue at all. shrug
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Old 12-07-2018, 10:54 AM   #20 (permalink)
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I had a jug i kept filling for 25 years, found out the bank thing and bought a coin sorter from eBay, professional one not plastic , still took me 2 weeks to roll $1200 +/-

Now i gotta sell the machine to get my money back and they are cheaper on ebay now.

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Old 12-07-2018, 11:13 AM   #21 (permalink)
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found out the bank thing
There is no "the bank thing".

SOME banks won't accept coins, because they don't give a shit about you and also know most folks are too lazy to change banks.

Changing to a different bank is exactly what you should have done, not waste money on a coin sorter.
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Old 12-07-2018, 11:40 AM   #22 (permalink)
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There is no "the bank thing".

SOME banks won't accept coins, because they don't give a shit about you and also know most folks are too lazy to change banks.

Changing to a different bank is exactly what you should have done, not waste money on a coin sorter.
My 2 credit unions wanted them rolled too.


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Old 12-07-2018, 11:46 AM   #23 (permalink)
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Originally Posted by gladman View Post
I just put my coinstar money on a home depot card or starbucks or whatever and they don't charge any fee.

I'd bet your bank is lying too. (probably they were told that by someone who was lying and they are just retelling a lie that they think is true.)

Yuuup
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Old 12-07-2018, 11:47 AM   #24 (permalink)
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Both my bank and my credit union will accept your coins. I only ever take in pennys because the rest of the change gets used.

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Old 12-07-2018, 12:10 PM   #25 (permalink)
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Originally Posted by CJF View Post
There is no "the bank thing".

SOME banks won't accept coins, because they don't give a shit about you and also know most folks are too lazy to change banks.

Changing to a different bank is exactly what you should have done, not waste money on a coin sorter.
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Wells Fargo, Chase, Citibank, Bank of America, Capital One, TD Bank, PNC Bank, and many other national banks do not offer coin counting.
That looks like a "the bank thing" to me.
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