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Re: Coin Processing Fee - NTR.Rabbit
In Response To: Coin Processing Fee - NTR ()

Hi Rabbit,
Interesting !!

Just ran into one of those machines few weeks back at supermarket. Same thing, no display of the fee. When I asked, I was told there was a fee but I had no clue it was 10%.

My bank is out of state. Local banks won't take coins unless you have an account, nor will they take rolled coins. I was referred to one local bank (TD) that would count the coins as you describe. Not sure what their "haircut" is if you do not have an account with them ??

Anyway, using the plastic coin tubss (have for years) you fill them up to the slot, pour out any excess, slip in the coin wrapper and you are done - no counting. BUTT, the banks won't take rolled coins any more. My suspicion is that folks were padding out the rolls with "crap" !!!

I was going to post following to Trades, as he likes "new business ideas" !!!

If you return something to Home Depot for example, they issue/print a credit card like piece of plastic for that amount and you can later use it like cash in the store.

Now since:
Most supermarkets have those "discount cards" and they DO KEEP TRACK OF YOUR PURCHASES FOR A PERIOD OF TIME - it should be a relatively simple software exercise to simply add your "coin change" to a total in your account. When you check out, deduct even dollar amounts from your total when you check out. Coin change problem solved - at least in supermarkets that use the "discount cards" and basically they all do !!!! Should save the supermarket money as well not having to deal with the coins in change. And if they did it to even dollar amounts, the most anyone would have buried in the store computer is less than a dollar !!!

Makes too much sense to be implemented !!

Just some hair brained thoughts !! Especially since it costs the US Mint 1.6 cents to make a penny !!! And copper is not going down.

For Trades:
What is a Tunney (sp), I thought a Loonie was a dollar coin.


Messages In This Thread

Re: Coin Processing Fee - NTR.Rabbit