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Collecting Customers a Coin at a Time

Hibernia Bank, New Orleans is offering a free service to its customers that it says it hopes will encourage young people to open a savings account. The bank has installed coin counting machines in its lobbies and has encouraged parents to bring in their children, have the machine count the coins from their piggy banks, then open savings accounts for the children. The machines provide a receipt that the customers take to a teller for deposit or payment. Non-customers can also use the machines, but they must pay a 10-percent fee.

Copyright © 2004 Bankers' Hotline. Originally appeared in Bankers' Hotline, Vol. 13, No. 12, 2/04

First published on 02/01/2004

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