Bank of Montreal has said that it will build coin repatriation machine4s into its new and refurbished branches over a period of time. It will be costly but the strategy is to win loyalty and pry depositors away from other banks. The story is in the Globe and Mail this morning. Interestingly, the machines don’t charge fees or take a percentage of the haul the way most generic coin counters in supermarkets and malls do. However, users must take their receipt to the teller in order to get paid. At that point, BMO has the chance to pitch them on opening an account, if they aren’t already a customer.
