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 Replies: 41 / Views: 12,784 |
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Valued Member
Australia
126 Posts |
So I went in today to my local Commonwealth branch to get some coins and when I went in, the branch manager told me that from June, there will be new restrictions on access to the change machine. From what I remember, she said that only business customers will be able to use the machine, and if non-business customers want to get coins, they can only get up to $100 and only at the teller counter. She said that this is to prevent money laundering and to ensure that sufficient coins is in the machine for business customers, since that's why the machine is there in the first place. I bet this will make a few people mad, but I thought I'd post about it just as a heads up. This is going to be pretty devastating for the CBA people that noodle $10,000+ of $2 coin in under a fortnight  |
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Pillar of the Community
Australia
998 Posts |
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She said that this is to prevent money laundering and to ensure that sufficient coins is in the machine for business customers, since that's why the machine is there in the first place. Yes,i heard something about this a couple of weeks ago,time will tell exactly what they do as its being fine tuned apparently.
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Pillar of the Community
Australia
1679 Posts |
The Commonwealth Bank absolutely despise noodlers - always have. I often empty out their precious exchange machines just for spite.  Some branches even refuse to let you have $100 at the counter. If they adopt this policy 5c noodlers will still be able to get 2000 coins each visit.  |
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Pillar of the Community
United States
628 Posts |
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I often empty out their precious exchange machines just for spite. And you probably wonder why they [allegedly] despise Noodlers.
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Moderator
 United States
56855 Posts |
What are the criteria for opening a business account? John1  ( I'm no pro, it's just my humble opinion )
Searched 6.5 +/- Million Cents Since 1971
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Bedrock of the Community
United States
94367 Posts |
You cannot be a marsupial.
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Valued Member
 Australia
126 Posts |
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The Commonwealth Bank absolutely despise noodlers - always have. At least the guys at the CBA I go to the most all know me pretty well. I'm not even a disruptive noodler - I only noodle once or twice a week and I always noodle the same amount. Quote:
If they adopt this policy 5c noodlers will still be able to get 2000 coins each visit. I wonder how many sixpences and New Zealand five cents are still out there for me to find 
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Pillar of the Community
Australia
998 Posts |
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What are the criteria for opening a business account?
John1 I'm out of date now that I'm retired but it used to be ABN(Aust. Business No.) & Tax File Number. Local CTB for me are Ok but as I posted previously Teller told me a couple of weeks ago big changes regarding bulk coin are in the wind.
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Pillar of the Community
Australia
1333 Posts |
yeah it definitely to stop noodler since it still costing them money for the delivery of the coins and notes. I doubt anyone who is dealing in the Colombian snow (im not sure if this is FF) is going to want to get any shrapnel, they only deal with pineapples/bananas or green tree frogs. :D
I just feel that it might also have something to do with wanting to push everyone to online banking and the global trend of bigger governments and dumber goverments, ewh
Edited by ryurazu
05/03/2023 12:06 am
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Valued Member
Australia
215 Posts |
Anyone else notice a lot of CBA branches have changed their coin deposit machines to those ones that only take 2kg of coin. Guess to stop people dumping their noodled coin...
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Pillar of the Community
Australia
852 Posts |
Ok, so the coin deposit machines only take 2kg. Is there a requirement that you deposit via the machine and not at the teller? And if there is well most branches don't have a coin deposit machine so can you take say a wheelbarrow load of change into such a sans machine branch? Will they require it to be sorted and bagged or can you put a sack of mixed change on the counter?
And yes I'm a major drug dealer and get lots of customers using the change from under the lounge cushions to buy kilos of A grade Columbian. Yes I'm being sarcastic (a litre of Columbian blend coffee weighs a kilo and can be purchased for a few $2 coins) as the banks expect us to believe that change machines are ever used for money laundering.
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Valued Member
Australia
126 Posts |
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Anyone else notice a lot of CBA branches have changed their coin deposit machines to those ones that only take 2kg of coin. Guess to stop people dumping their noodled coin... I believe you are talking about the coin deposit machine attached to some ATMs. Those machines accept up to 2kg of coins and put the funds directly in your account. There are also some deposit machines at some branches were you can deposit more than 2kg (up to $10,000) and the funds go into your account at closing time. And there are some "coin count" machines where you can deposit coins into it, get a receipt, then have a teller transfer the funds into your account. Most of these machines have been replaced with the above mentioned deposit machine, but I have seen a few of these at several CBA branches. Quote:
Will they require it to be sorted and bagged or can you put a sack of mixed change on the counter? At one CBA branch I went to, I used the Business Banking counter. What they did was they poured the coins into a counting machine which counted the amount of coins, then when the machine stopped rummaging, they removed a small container at the bottom of the machine and tipped it into a giant bag along with other coins of that denomination.
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Valued Member
Australia
126 Posts |
This was the sign that greeted me when I went to get coins today:  Well I tested and the machine still accepts my card, but the manager did tell me the restrictions come into place at the start of June . If anyone has seen similar scenes at CBAs feel free to post here. |
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Pillar of the Community
Australia
1679 Posts |
Yep same sign at the Branch I went to. I called their bluff too and walked away with as many coins as I could afford...  |
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Valued Member
Australia
126 Posts |
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Yep same sign at the Branch I went to. I called their bluff too and walked away with as many coins as I could afford... I wonder if I can get one of my mates to help me access a non-CBA machine when the restrictions do kick in (if that's even legal or not)    Then again I have to make sure the CBA bank staff don't notice anything fishy with my coin deposit records .
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Bedrock of the Community
Australia
21593 Posts |
In the last year Australians have lost $3.1 billion to scammers.
That is an average of over $2,000 average for the year for every Australian wage earner.
I you don't have a credit card, or use phone apps for making payments, it is impossible to make payments for anything, except if you use cash only.
I pay my utility bills at the Post Office in cash, which is next door to my bank.
My personal details from my medical insurance company have been hacked and sold on the 'dark web',
I am now continually bombarded by calls and texts with links on my mobile.
Once, I considered my mobile as the best thing since sliced bread.
Now, I consider it as my enemy, and I am forced to consider every phone call and text as suspicious.
I have never been scammed.
That is why I no longer have a credit card or use moble apps for making a payment for any reason.
I have used cash budgeting for quite some time now, and my cost of living has decreased, despite Australia suffering the highest inflation rates of the top eight OECD countries
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Replies: 41 / Views: 12,784 |
Posted 05/02/2023 07:57 am
