Bank of America refusing $1 bills

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I will be honest, I'm not a big fan of banks in general. They make a lot of money holding onto my money and charging me fees for stuff that I shouldnot have to pay for. From what I hear BoA customer service is atrocious and they don't seem to care about their customers at all. Right now I bank with a local credit union and I'm pretty happy with them. I should probably save most of my aggravation for credit card processing companies.
Various commercials, radio and tv, about the things Other Banks do, from fees for questions, fees for borrowing the counter pen, fees for reciepts, stapling barcodes on your forehead ("i hate when these wont scan!"), et.c. marginally amusing to most adults...
 
I've never run into a problem spending $1 bills, but the days of bringing large amounts of coins to the bank seems to be over. Years ago I could bring a bucket of coins and my bank would pour them into a machine and then deposit the total amount. Now they no longer even have the machine, and tell me to roll them myself (they do give me the paper rolls) and then I can deposit them. I have a large plastic container on my dresser with a slot cut into the lid of the container. Whenever I have change in my pocket I drop the coins into the container. The last time I rolled the coins I had about $300 worth. Now I am using an even bigger container which is more than half full and I intend leaving it to my kids as part of their inheritance, and they can go to the effort of rolling them up.
 
More info . . . getting worse . . .

Which dollar bills will be rejected in stores starting in October 2024?

Which dollar bills will be rejected in stores starting in October 2024?

"In an effort to improve the security of the monetary system, the Bureau of Engraving, the Secret Service and the Advanced Counterfeit Deterrence (ACD) Steering Committee have launched an initiative to require US stores, businesses, banks and ATMs to stop accepting certain dollar bills beginning in October."
According to various reports, the dollar bills that will be rejected starting this month will be all those that fall into the "mutilated" category.
 
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I've never run into a problem spending $1 bills, but the days of bringing large amounts of coins to the bank seems to be over. Years ago I could bring a bucket of coins and my bank would pour them into a machine and then deposit the total amount. Now they no longer even have the machine, and tell me to roll them myself (they do give me the paper rolls) and then I can deposit them. I have a large plastic container on my dresser with a slot cut into the lid of the container. Whenever I have change in my pocket I drop the coins into the container. The last time I rolled the coins I had about $300 worth. Now I am using an even bigger container which is more than half full and I intend leaving it to my kids as part of their inheritance, and they can go to the effort of rolling them up.
My brother did that with a 5gallon waterjug, took a dolly to move it, the bank dident want it, iirc it wasent enough for the dizzyland trip for the kids
 
I use both banks and credit unions. When I amass enough change I take it to the credit union where it is auto counted and deposited directly into my account. CAVEAT: I do this only with pennies (pre-1979) and nickels, as the counter has about a 1 percent wobble rate. Quarters and dimes are counted and rolled at home, and bought to a main bank branch.
 
The BoA today is nothing like Mr. Giannini's Bank of America. In the 80s it was sold to a bank holding company in North Carolina and became something I would rather not step in. The Giannini family controlled the bank from origin to sale. They had high standards and ethics. Their customers were important to them. Yes, the bank staff could be bureaucratic and slow but they were there for the customers. I worked for them at night while in college in the early 1970s.
It started out as Bank America after the sale it became Bank of America. Before Visa cards it was Bank America Card
 
"Bank of America will continue to accept all currency despite previous reports that claimed the bank and several other major retailers were going to stop accepting damaged $1 bills as part of an effort to crack down on counterfeit currency."


I guess it all depends on who you want to believe. Personally, anytime something comes up that doesn't make common sense. I do some background checks and usually find several conflicting report.
 
"Bank of America will continue to accept all currency despite previous reports that claimed the bank and several other major retailers were going to stop accepting damaged $1 bills as part of an effort to crack down on counterfeit currency."


I guess it all depends on who you want to believe. Personally, anytime something comes up that doesn't make common sense. I do some background checks and usually find several conflicting report.

Jimbo, I post what I find, whether I like it or not. If you have contradictory evidence, please post it for our edification. Seriously. :)
 
Actually if you go back far enough it was originally The Bank of China. It was founded in San Francisco.
No. It was originally The Bank of Italy. AP Giannini started it to serve the Italian immigrants in the San Francisco area. The Giannini family controlled it until it was sold to the North Carolina organization. I was raised in San Francisco for a time. I worked for the bank when the Giannini's controlled it.
 
My local bank's ATM will dispense $1, $5, $20 and $50 bills, but no tens. My other local bank won't cash in change. They have a coin machine in the lobby and you put your coins in it and it spits out a receipt. You take the receipt to the teller and they will give you your cash minus a fee (a % of the total) for service.
 
No. It was originally The Bank of Italy. AP Giannini started it to serve the Italian immigrants in the San Francisco area. The Giannini family controlled it until it was sold to the North Carolina organization. I was raised in San Francisco for a time. I worked for the bank when the Giannini's controlled it.
Got to dig deeper. The Bank of America Los Angeles was formed from the merger of several banks including the Bank of China ( there were several unaffiliated Bank of Chinas throughout the US at one time or another).

The merger was put together by an Italian American.

Later BofA, L A merged with the Bank of Italy in San Francisco. They became Bank of America National Trust.
 
Accepting damaged bills cost the bank nothing. They are turned into the treasury for destruction and the bank given replacements.
Wow!
Are you saying that the Bank of America makes its employees stay after-work and off0-the-clock (just like Wal-Mart?) to identify, gather, package, ship, document the return of worn dollar bills?
Or have you never run a business?
Employee time to complete a task IS money.
 

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