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Email this4:06 pm
I'm thinking of opening a free chequing account at pcfinancial since it's 2%
My question is "say I have rolled coins etc. and I want to deposit it" can I give it to the person that works in the little office that pcfinancial has in the grocery store "the lady that does financial planning, credit cards etc." or do I need an account at say cibc/scotia and then transfer it over?
thank you.
4:16 pm
or can I make these style deposits at cibc since they are affiliated?
4:38 pm
December 12, 2008
Offline
Unfortunately you cannot do neither.
You could ask the CIBC person for a paper bill equivalent to your rolled coins then you make the deposit at the CIBC ATM.
Remember the 2% is for over 25K I believe.
djino
9:23 pm
December 12, 2009
Offline
You could go into any bank or credit union as a non-customer and ask to exchange rolled coin into bills and then take the bills to a PC Financial or CIBC ABM to deposit. ABMs, unfortunately, do not accept coin deposits. Cash or cheques only. Depending on the bank, there may be a small $2.00/$100 exchanged service charge for this service and they may or may not accept rolled coin from a non-customer - you'd have to go to each one and see. Some people are dishonest and put pennies in with dimes or nickels so that every second coin in a dime or nickel roll is in fact a penny, creating a loss to the bank.
The other option is to maintain a regular savings account at a bank and ensure it's in good standing (never overdrawn due to outstanding service charges) and keep a very small balance in it, then go there to exchange your rolled coin to bills. That way, should you do anything unscrupulous, the bank can charge any losses back to you.
Hope that helps,
Doug
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