Cashing Coins at my Bank

Topia

Quick question. I have about... five or six hundred dollars worth of quarters loonies and toonies. Half of it is quarters.

I'm going to assume the worst here, but will I have to roll them all to cash them? I have them all nicely stacked right now, but I doubt they will accept this magnitude of coins un-rolled...

Edit; Yes, loonies and toonies... go Canada!

matt has a problem

Different banks have different policies. Some do have a "rolled coin only" policy, but others have a counting machine and are willing to sort and count it for you. I'd say just call the nearest branch of your bank and ask if they accept loose coins.

Topia

Okay well I'll probably hit the bank on my way out today, but in case someone else drops in and might know the bank I go to is BMO (Bank of Montreal),

thanks

RUNN1NGMAN

Quite a few major banks in the States now have coin counting machines in the lobby...and most don't require you to have an account to use them. You might be able to find something like that.

VThornheart

Ironically enough, I went to a bank with a bunch of coins that I rolled myself once and was told that it was pretty much a waste of time: they have to count it officially anyways, and they just send it out to a central location to count it and adjust your account if there's a difference between the estimate and the actual value. So don't have any fear about bringing your coins in. Apparently it's an inconvenience for them even if you roll them, so there's not much else you can do.

EggyToast

Yes, banks hate home-rolled coins because they can't trust that you won't short them a coin in each one. So they open them all up anyway.

I'm not sure why they give out the paper rolls anymore.

VThornheart

See, that's what gets me. I got the paper rolls from them! Oh, the delicious irony.

NotYou

EggyToast wrote: »

Yes, banks hate home-rolled coins because they can't trust that you won't short them a coin in each one. So they open them all up anyway.

I'm not sure why they give out the paper rolls anymore.

Ya see, at my bank they only take the coins if you rolled them yourself. They won't take it otherwise.

unilateral

NotYou wrote: »

EggyToast wrote: »

Yes, banks hate home-rolled coins because they can't trust that you won't short them a coin in each one. So they open them all up anyway.

I'm not sure why they give out the paper rolls anymore.

Ya see, at my bank they only take the coins if you rolled them yourself. They won't take it otherwise.

Man, thank god our bank isn't like that. We had a jar of pennies that had been collecting at least since I can remember (I'm 22) and we cashed them all in earlier this year to go to Vegas with. It ended up being $360 I think, so that would have been horrible to roll.

But yeah, to the OP, most banks you just have to give them your container and they will take it back and put it in the coin counting machine and then give you a deposit slip or the cash if you want it.

EskimoDave

Every bank I've ever used requires you to roll them yourself (BMO included). Outside of the bank. They do provide the rolls for free however.