Thursday, March 30, 2023

Does Chase Bank Take Coins

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Banks Accept Coins Deposits In Coin Wrappers

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After reaching out to all the banks, we found that every single one of them will provide coin wrappers for free, regardless of whether or not you are a customer.

Coin wrappers are paper wrappers that come color-coded for different coin denominations.

Each wrapper is used to roll 40 to 50 coins in denominations of 25 cents or less. Wrappers do exist for 50-cent and one-dollar coins.

Be sure to check your quarters to see if they were made in 1964 or earlier. Before 1965, U.S. quarters were made of 90 percent silver, making them worth significantly more than the $0.25 value.

If youve got a lot of coins, it could be a time-consuming task to stuff them into the wrappers.

Once youve rolled the coins, just bring them to the bank for deposit or exchange. For customers of the bank, it is free.

For non-customers, its not as simple — read below:

Donate To A Local Charity

If you dont want to make a separate trip to find a Coinstar or dont like the limited options you can always choose to donate your change. Religious institutions, community center, and the Salvation Army are among a few that will accept your donations. If you have international coins from your travels some of these places will also accept them as well.

A Lawyers Explanation Of Tucker V Chase Bank Usa Na 399 F Supp 3d 105

In September 2017, JP Morgans Chief Executive Officer Jamie Dimon called Bitcoin a fraud and said he would fire anyone who was caught trading it. Anyone whos been following bitcoin and cryptocurrency for quite some time knows that since that comment, weve seen quite a massive shift from JP Morgans stance on bitcoin and cryptocurrencies. But what would happen if you were to take your Chase Bank credit card and use it to buy bitcoin? At that time, Chase would have argued that you were using it to take out a cash-advance. But is buying cryptocurrency with bitcoin taking out a cash-advance on your credit line?

Well, I recently came across an interesting case that involved this interesting question: This is the case of Tucker v. Chase Bank USA, N.A., 399 F. Supp. 3d 105.

Plaintiffs filed suit against Chase alleging a breach of contract claim against Chase. Plaintiff argued that the moment Chase began classifying their cryptocurrency acquisitions as cash advances, it violated the terms of the credit card agreement.

Before we jump into the courts analysis of the case, its worth noting some important aspects of the credit card agreement that the court determined were important. The credit card agreements that Plaintiffs entered into defined purchases as transactions used to buy goods and services. Regarding cash advances, the agreement specifically stated,

The agreement laid out specific Cash-Like Transactions as

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What Banks Have Free Coin Counting Machines

Each bank varies so much that you need to call ahead to make sure youre not wasting your time. Even between branches of the same bank, you can find differences in their policies.

When you call ahead and talk with the bank teller, heres what you should ask about making coin deposits:

  • Do they have a coin counting machine?
  • Is it free, or do you charge a small fee?
  • Are coin deposits only allowed for account holders at that particular bank?
  • If your local bank doesnt have a free coin counting machine, you can ask if theyll accept rolled coins. Again, if this is the case, ask:

  • Is there a fee?
  • Do you need to be a member to bring in rolled change?
  • Usually, banks without a coin counting machine will accept rolled change. However, dont bank on it .

    A lot of national banks have gotten rid of their coin counting machines altogether, including Bank of America, BB& T, Capital One, Citibank, Chase, PNC Bank, TD Bank, and more. For the best experience, your best bet will be to look for coin counting machines at community banks and credit unions that cater to small businesses.

    If you choose to roll your coins, you can try cashing in small amounts at various banks. Again, the policies will vary so always call ahead before you lug your mountain of change in and risk hurting your back for nothing!

    Does Chase Bank Accept Coins For Deposit

    Big U.S. banks will roll out ATMs that take smartphones, not cards

    No go at Chase, they discontinued all coin counting practices about 4 months ago. I would either put $100 into a TD Bank account and just have TD for the purpose of the free coin counting machine, and do an electronic transfer into Chase or preroll before you get there.

    Yes, Chaseacceptscoins, as most local banks and credit unions do, but a bucketful of coins is a no-no, only coins wrapped in those paper rollers. It is a chore, but the good news is, the paper rollers are free. Chase, according to Herczeg, accepts unlimited rolled coinfordeposit or paper cash from account holders.

    Ally Bank is one of the most Bitcoin-friendly banks. Ally is an online-only bank, meaning it has no brick-and-mortar locations. But they have 24/7 support as well as an online chat feature that has very short wait times . You can easily link your bank account to Coinbase and buy desired coins with your debit card.

    If you dont feel like sorting and rolling your coins and your local bank doesnt acceptdeposits of loose change, you still have another option: Coinstar. Use Coinstar to turn coins into cash Coinstar has more than 20,000 kiosks worldwide where you can change coins to cash.

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    How Long Does It Take For Checks To Clear With Chase

    Chase boasts some of the fastest check clearing times in the industry. The majority of check clearing takes just one business day, and the verified amount is deposited into your account that very moment.

    According to the official statement, any check processed before 8 PM will have the funds deposited by midnight. If the check is processed after 8 PM, the funds will be deposited the next business day.

    Can You Deposit Coins With Chase

    As a general rule of thumb, you can deposit coins with Chase Bank for free. However, you will have to make the deposit over-the-counter at a branch location. Also, Chase will only accept paper-rolled coins, including quarters, dimes, nickels, and pennies. So, if you have bucket loads of coins to deposit, you may be better off taking them elsewhere to turn them into cash before depositing.

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    Is Using Coinstar Safe

    Machines never fail, right? Well, thats not always the case. When using any coin machine there is always room for error.

    A story ran back in 2016 about a TD Ameritrade kiosk being off by $44 off from a $300 total. Thats a huge amount of money youre not getting back!

    Coinstar does appear to be the leader in the coin machine industry and released this statement after people began doubting the coin machines after the 2016 ABC investigation. Heres what they said:

    Its number one goal is to provide its customers with a satisfying and reliable experienceit has refined technology and implemented regular maintenance schedules to service, clean, calibrate and test the machines to ensure reliability and high accuracy levelsrigorous testing has delivered extremely accurate coin counting and more than 95% machine uptime.

    Banks That Offer Free Coin Exchange

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    If you cant find a Coinstar kiosk in your area, then you can still rely on banks to do the job for you.

    Well, many of them, anyway.

    Some banks only allow customers of that bank to take their coins in to exchange for cash.

    So, its usually a good idea to head to your bank first and ask about their policy.

    Here are a few banks that are known for allowing coin-to-cash exchanges:

    Bank of America

    Head to a Bank of America to exchange your coins for cash.

    Its branches do require you to roll your coins first.


    Chase banks typically require rolled coins for exchange, but they dont limit the service solely to their customers.


    Citibank varies its coin policies by location.

    Some branches will actually charge you fees to exchange coins, even with your coin rolls.

    But it appears that all branches do require you to have your coins rolled before you can get cash for them.

    Community Savings Bank

    The locations of this bank may vary in their policies, but they typically serve customers of the bank and require coins to be rolled.

    Huntington Bank

    Huntington Bank branches generally allow customers to exchange rolled coins for cash or deposit them into their bank accounts.

    U.S. Bank

    U.S. Bank locations do not require you to have rolled coins, but they do only offer coin exchanges for cash to their current customers.

    Youll need some kind of account with the bank, including a checking, savings, or credit card account.

    Wells Fargo

    Your Local Credit Union

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    Use Coinstar To Turn Coins Into Cash

    Coinstar has more than 20,000 kiosks worldwide where you can change coins to cash. After adding your coins to the tray and guiding them down the slot, the Coinstar machine will provide a voucher that you can exchange for cash at the retail location where the kiosk is installed.

    But this convenience comes at a cost. Coinstar charges you an 11.9% service fee based on how much you put in the machine. In this case, if you change $100 worth of coins into cash, youd only get $88.10.

    Coinstar lets you turn coins into gift cards

    Coinstar does offer another option for those who want to avoid the service fee. You can redeem the coins in the form of a gift cards for a specific business.

    This fee-free option comes with a few caveats. For one, not every Coinstar kiosk offers gift cards for every business that has opted into this deal. You should make sure your local kiosk has the gift card available for what you want. Another thing to keep in mind is that each business gift certificate comes with its own minimum and maximum limits. You cant trade in your coins for a gift certificate worth more than $100 at AMC, for example.

    As of June 20, 2019, the following gift cards were available:


    The Coin Shortage Is So Bad Banks Will Now Pay You Extra For Change

    As if we needed any more challenges in 2020, earlier this month a national coin shortage hit America. That right, America doesnt have enough physical change to go around. And yep, you can blame that on the pandemic, too. In short, coins arent circulating through the economy as readily as they once were since people are going out and spending lessand opting for digital or contactless payments wherever they can.

    This coin shortage hurts people who still need to, or want to, pay in cash. Thats because some businesses are now requiring exact change, or for customers to pay via debit or credit card because they have no other options. This, in turn, hurts small businesses who may lose customers who want to pay in cash but dont have exact change. The coin shortage has gotten so bad that last week Kroger, the countrys largest grocery store chain, announced it would stop giving exact change.

    And as the coin shortage continues to swell across the country, now banks are stepping in to get their hands on more of the currency As CNN reports, the Community State Bank in Wisconsin has launched a Coin Buyback Program, which will pay people a premium for their change. If you bring in $100 in coins, the bank will pay you $105 in cash. That $5 bonus is higher than the interest rates most savings accounts offer.

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    Hire Someone To Roll Them

    If your schedule is simply too tight to roll coins yourself or go to the store and have a machine do it, you can always pay a friend or neighbor to do it.

    PROs: You literally dont have to do anything but collect the rolls afterwards.

    CONs: Unless you can turn this into one of your childs chores, then you have to pay somebody to do this each and every time, which means you now have less money and that kind of defeats the purpose of this exercise.

    Besides, theres always the sad-but-true possibility your hired help will quietly skim a little bit off the top for themselves.

    What Is A Coin Counter

    Is Saturday considered a business day for Chase Bank?

    Coin counting machines count money and make it easy to put the coins into paper wrappers for depositing them at banks.

    The only problem with coin counters is that they cost money, which can eat into your profits if youre trying to cash out.

    For the best results, look for a cheap model you can use over time. Otherwise, it could make more sense to just visit a Coinstar machine every once in a while. It largely depends on how often you rack up spare change in your piggy bank.

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    Industry Overview About The Gold Industry

    Gold price per ounce has seen massive growth over the past few years. At nearly $1400 per ounce, the average investor is not in the market for a bar that size, and even those who might afford would find it difficult to unload a bar that size to their local dealer.

    This is why an average customer buys gold in one ounce form, and the cost to acquire gold in smaller quantities is higher. A lot of factors help to dictate the price disparity, not the least of which is the relative cost of minting a large bar of refined gold into one ounce coins.

    These coins ship from large mints like the United States Mint and the Royal Canadian Mint of Canada to select authorized dealers, who in turn ship them to over 4,000 coin dealers in the United States alone before they find their way into the hands of a gold investor.

    Have it in mind that there are shipping and insurance charges through each stage of the process, and before an investor receives his gold shipment, he may have paid brokerage fees, , or other ancillary charges.

    Research has shown that a lot of dealers will not ship below a certain volume, while some will not ship above a certain volume. Certain dealers have different price breaks at different quantities. For example, one dealer may offer a discount for buying more than fifty coins, while another may offer a break at sixty.

    How Do I Use A Coinstar Machine

    Using a Coinstar machine is pretty simple. Here are the steps you should follow:

  • Locate a Coinstar coin machine.
  • Follow the prompts on the touch screen to get started.
  • Choose a payment method: cash, eGift card or donation.
  • Accept the terms and conditions, which include the fees Coinstar will charge you.
  • Dump your clean, dry change into the machines tray and make sure you remove any debris that may jam the machine.
  • Lift the handle to tilt the basket so the coins fall into the slot.
  • Check for rejected coins in the bottom slot while you watch the machine count and display your dollar amount.
  • Resubmit the rejected change.
  • Once the machine is done, it will print out a voucher you can exchange for cash at the register or will include a unique code you can use to pay at select online/retail stores and restaurants.
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    How To Wrap Coins

    A lot of people have coins lying around. But most companies that let you cash in your coins require you to roll them up. This is where the process can get annoying.

    If youve ever tried to stuff coins into paper wrappers, then you know how time-consuming and tedious the process isespecially if youre dealing with multiple buckets containing a mix of coins. It could take you months to sit there and manually sort through them and stuff paper wrappers. Money costs time, so this approach is simply not worth it .

    Unfortunately, theres no easy way around this. On one hand, you can buy a coin sorting machine like the Royal Sovereign model from Amazon, which costs about $33 at the time of writing. The main problem with this approach is that it will eat into your savings. You may not even have $33 sitting around in coins. So, its really only a good option for people who have a substantial amount of money lying around the house.

    The fastest and cheapest option could be to bring your coin to a kiosk like Coinstar. While youll lose a sliver of your money, the self-checkout nature of the service means youll be able to convert your coins to cash quickly.

    Do Banks Buy And Sell Gold Coins

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    The answer to the above question will depend on where you live. A lot of banks in the US sell gold coins but they would not usually publish information about it on their websites or advertise it openly for security reasons.

    Banks like HSBC and Leader Bank sell gold coins but to get a comprehensive list of banks that sell gold coins in your location, visit the website of the US mint, and use their authorized dealer locator to find banks that sell gold coins around you.

    You can also call your bank and ask them if they sell gold coins. Many banks would not openly advertise the fact that they sell gold coins but if you call them, they would readily offer you helpful information on how to buy gold coins from them.

    Just like it was stated above, in some countries it is quite common to buy gold coins from banks however in the US it is not the case. Federal Reserve does not deal with individual customers and only sells directly to banks.

    In very rare cases, some banks might offer commemorative series gold or silver coins but this might take place only for very limited time periods. So, if you want to buy gold coins from a bank in the US, this will not be possible because most US banks will not sell gold bullion coins or bars to the public.

    While most banks hold a portion of their securities in gold bullion bars, these are not for sale to the public. It may be possible to buy gold coins from a bank in Switzerland and some other countries but not in the United States.

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