This question is mostly addressed to Canadians since firstly we no longer have $1 and $2 bills so loonies and twonies are common enough that it is reasonable one might accumulate enough to want to roll them, and secondly I get the impression from other threads that it is not common south of the border for consumers to roll their excess change and take it to a bank teller to deposit into their account. However, if some people south of the border do do that, then my question applies to them to.
Whew! Long winded intro! Now, my question. I just deposited C$156 in rolled coins yesterday (included in that was two $50 rolls of twonies and a $25 roll of loonies, so it wasn’t physically that massive a collection of metal). I was shocked that the teller didn’t seem to care that I had written my bank account on each roll, like I used to be told to do many years ago; he might have noticed on one or two as he handled them but he definitely didn’t look carefully. I did sign a receipt which he kept, but he stuck that in his drawer and took the rolls away someplace else (as I was leaving - I didn’t have to wait). This has happened to me before.
Have others had this happen to them? Seems to me it wouldn’t be THAT hard to add a few slugs or foreign coins that happen to be the right size to the rolls. It was a TD Canada Trust branch by the way.
Never heard of putting one’s bank account number on a roll, but signing a roll is your warranty that you rolled those coins, counted them, and there are 50 cents, 40 quarters, or whatever the roll claims to contain in there – obviating the need for someone to unroll them and run them through a counter (or worse hand-count them).
I’ve been depositing coin rolls for decades, and always put my account number on them . . . until last year, when the teller told me I no longer needed to.
Like EmAnJ, every time I’ve rolled coins in the last fifteen years, I’ve never put any identification on the coin rolls themselves. I was mildly surprised the first time that they didn’t seem to count or weigh the coins before giving me the folding money.
By the way, I once made a roll of American pennies and asked if I could get more money for it. No such luck; they accepted it in exchange for Canadian money at par (about right today, but that was a poor exchange rate fifteen years ago).
Posting from Canada: I’ve never heard that you should put an account number on the rolls. I deposit my loose change in rolls on a regular basis, sans any id on the rolls.
Same here, and I don’t know that they ever checked; I too wondered what would happen if I were to put some slugs in there.
My conclusion was that I was a known long-term customer. Plus, obviously they had not had any serious regular complaints of bogus coin rolls; I knew a few businesses that regular bought their change from the banks, and they never reported any problmes with coin counts. A deliberate fraud good enough to make serious money would draw attention to yourself. The rolls typically have markings on them, so shortchanging a roll by a coin or two (especially $1 or $2 coins) would be pretty obvious. Slugs would be obvious right away, and once someone found the second slug, I’m sure the bank would start checking and asking around and institute a policy of checking and tracking.
It’s cheaper not to check. Once it started to cost them money on the order of $100 or more, they would check; but again, odds are it’s not regular customers doing it to them.