After TD Bank pulled its coin-counters, we sought other options. Watch video
GLASSBORO -- What's the price of convenience? About $5, it seems.
TD Bank, the Canadian organization that has its banking operations stationed in Cherry Hill, recently came under fire after the accuracy of its coin-counting Penny Arcade machines were called to question.
We set out to try three similar devices in New Jersey to see what -- if anything -- gets lost in the clinking and clanging shuffle of counted coins.
Republic Bank
We took $25.90 to a Gloucester County branch's Magic Money Machine counter. That total was split between 72 quarters, 50 dimes, 40 nickels and 90 pennies. The machine correctly counted the number of quarters, returned one extra dime, one extra nickel and two extra pennies for a grand total of $26.07. Republic Bank's coin-counting service is free so no usage fee was deducted from that figure.
Republic Bank did not respond to a request for comment.
A photo of the receipt issued by Republic Bank's coin-counting machine on April 13, 2016. (Greg Adomaitis | For NJ.com) Coinstar
We took $32 to the coin-counting device located in the lobby of a Glassboro supermarket. That total was split between 96 quarters, 60 dimes, 20 nickels and 100 pennies. The machine correctly counted the number of nickels, but did not count two quarters, one dime and one penny.
The calculated total was $31.39 and the 10.9 percent usage fee took $3.42 off the top, leaving us with $27.97. Further, 48 cents in rejected coins was found in the tray after the count. However, all of those coins couldn't have been ours given it would have exceeded the amount we deposited in the first place.
"Coinstar owns, operates and maintains its entire fleet of kiosks, and our goal is to provide consumers with a convenient, reliable and accurate coin counting solution," a statement from kiosk operator Outerwall Inc. reads. "With 25 years in business, processing more than 1 billion transactions, we have a zero tolerance policy on our accuracy tests; if a kiosk doesn't meet our standards, it's shut down and fixed."
Outerwall adds that consumers with questions or concerns are encouraged to contact customer service by calling 800-928-2274.
A photo of the receipt issued by the Coinstar coin-counting machine on April 13, 2016. (Greg Adomaitis | For NJ.com) PNC Bank
We took $32 to the coin-counter located inside of a Gloucester County branch. That total was split between 96 quarters, 50 dimes, 40 nickels and 100 pennies. The machine correctly counted each coin. After the 5 percent non-customer service fee deducted $1.60 from our total, leaving us with $30.40.
Marcey Zwibel, a PNC spokeswoman, said that the bank began the process of taking the coin-counters out of commission more than a year ago and that most, if not all, would be unavailable as of Thursday. She cited low usage by bank customers as one of the reasons for the decommissioning.
"We take the reports very seriously," Zwibel said when asked about recent news regarding accuracy concerns surrounding the devices.
A photo of the receipt issued by the PNC Bank coin-counting machine on April 13, 2016. (Greg Adomaitis | For NJ.com) According to previous media reports, the state office of Weights and Measures, which falls under the state division of Consumer Affairs, inspects coin-counting machines that are not located inside banks. Consumer Affairs did not respond to questions sent Wednesday regarding inspections and machine calibration.
All told, we brought $89.90 to the three machines and came home with $84.47 -- a $5.43 difference.
Greg Adomaitis may be reached at gadomaitis@njadvancemedia.com. Follow him on Twitter @GregAdomaitis. Find the South Jersey Times on Facebook.