Usually I am not in favor of additional government regulation; however, Chase bank’s refusal to accept LEGAL TENDER for deposit into my account has left me outraged.
The Facts: As a “saving practice”, I place all of my pocket coins into a handy jar. When I took a bag of coins into Chase Bank in Green Bay, WI, a curt teller announced, “We no longer accept loose coins.” Huh!?!
At BMO Harris, the bag turned out to hold about $193. BMO, happily, counted my coins, gave me some paper cash and deposited the remainder into my checking account.
Follow up: When in Ft. Worth, a teller at another Chase Bank Branch verified that Chase eliminated all of their coin counters, so they, also, do not accept loose coins.
Next question: Will the next step of GREEDY Chase be to not accept $1 bills? Personally, I do not think a bank should have the power to redefine what constitutes “legal tender”. If the banks have such power, why do our tax dollars have to pay for a “United States Treasury”.
If you would like to support my protest, please feel free to send your loose coins to Ken Dauer, Wishbud Ranch, 1007 Forest Hill Dr., Green Bay, WI 54311. I will arrange an appropriate disposal of most coins – since I don’t know what to do with those nuisance Canadian coins. No money will be spent on abortions, illegal drugs, processed foods, alcohol, or to provide support for any political candidates.
To accommodate the overreaching irs, all coins will be considered as a gift, with no strings attached. Attempts to deposit coins to my accounts may be recorded and/or published. If I receive official notification from Chase officials that their policy is changed to accept all legal tender, this request is considered null and void. No “postage due charges” will be honored by Wishbud Ranch.
Further consideration: Yes every penny counts; however, I would encourage contributors to at least match the cost of the postage. Frankly, I would be disappointed to see the USPS or UPS get more out of this “citizen protest” than me.