Penny Saver

[Shirnette]

My 730g formula can is almost full of pennies....don't have time to wrap/count..I hear the bank will do so but at a cost...don't know which bank or where has a penny counting machine in Brampton. Does anyone know how the bank calculate the charge-is it a certain % of the sum? A flat fee per certain amount? Please advise

[ToiMei]

I understand TD Canada Trust is in the process of installing change counting machines in their branches that do not charge a commission. I've used the one at the Coxwell and Danforth branch in East York.

[Shirnette]

Thanks TM.

[jillyfree]

Some BMOs have free coin counters in them. You can go to the website and search for a location near you to try.
https://locator.bmo.com/Default.aspx?t=bb&lang=en

[lilo0003]

TD charges 5% if you are not a client. Free if you are. If you go to tdcanadatrust.com they have a list of wher to find them.

[Ciel]

Coinstar machines in Metro (the one in Dundas, ON has that small print) have a stipulation that receipts have to be applied to purchases of $20 or higher. Don't know if other stores that may have machines have that same requirement.

When Sobey's had a coin-counter, there was a percentage taken off. BMO coin counter is your best option. One SCer had two experiences in redeeming receipt-first time teller said he had to have an account for redemption of the receipt; second time teller redeemed receipt w/o giving that line about account. BMO counters are free for all to use. Look for high traffic areas-mostly like to have counter.

In Hamilton, Lime Ridge Mall BMO has the coin counter.

[Ciel]

If TD Canada Trust installs coin counters in big box centres, I'd consider getting an account (for 2014).

Just checked-TD might have the counters in local branches per branch locator search for coin counters. Must verify!

Thanks for this thread!

[GoStumpy]

I just did my Coffee Can full of pennies last month, 37 rolls of them... it really isn't that hard to hand roll them!!!

The bank will give you the wrappers for free

The trick is, find a highlighter nearly the same diameter of the penny roll, most usually are a perfect size. Put the pennies in piles of 10, and put a pile of 10 in the sleeve, tamp it down with the highlighter, if one is on edge, hold the highlighter in it and shake, it will always fall flat.

5 stacks of 10, done the wrapper. Onto the next one!

I actually had a lot of fun doing it once I figured out the highlighter trick!

[lilo0003]

If TD Canada Trust installs coin counters in big box centres, I'd consider getting an account (for 2014).

Just checked-TD might have the counters in local branches per branch locator search for coin counters. Must verify!

Thanks for this thread!

There are 5 locations in Hamilton. Even if you are not a client it is still cheaper than the coin star machines in the grocery stores.

[Shirnette]

Thanks all; your responses helped....saw a commercial on tv last night re TD coin machines; seems like they'll have them available in their banks...

[Ciel]

Ellen Roseman had a recent column of money saving tips and she listed the % commissions, if any, taken from coin counters in banks/stores. Worth remembering:

7. Coin-counting fees

Rolling loose change is a tiresome chore, so many people use coin-counting kiosks, found in grocery stores and malls, which quickly convert your loose change into paper currency. This convenience comes at a steep price, however, with companies like Coinstar charging a hefty 11.9 per cent fee.

Avoid this fee by rolling your change at home. You can buy coin wrappers at a discount store, or buy a small coin-counting machine for home use.

If you insist on hauling your loose change out of the house, most banks offer free coin counting to their customers. Bank of Montreal coin counters are free to use for both BMO and non-BMO customers.

TD added coin counting machines earlier this year. The service is free to TD customers, but non-TD customers are charged 8 per cent.

http://www.thestar.com/business/pers...o_without.html