CHICOPEE, Mass. (WWLP) – TD Bank is getting rid of their “Penny Arcade” coin counting machines, following news reports questioning their accuracy. The bank announced the decision Thursday, also acknowledging that the number of people using the machines has steadily declined over the last few years.
In March, the 22News I-Team looked into the issue of accuracy, and found that two Penny Arcades at TD Bank locations in Ludlow and East Longmeadow counted the money properly. At one location in Springfield, however, they were short by 25 cents, out of $10 put in. Other media outlets, including NBC News, conducted similar investigations in recent months.
“Offering free coin-counting to our customers has been a long-standing service at TD,” TD Bank head of consumer banking Michael Rhodes said in a statement. “However, recent accounts regarding the performance of our Penny machines have led us to reassess this offering. We have determined that it is difficult to ensure a consistently great experience for our customers.”
TD Bank will continue to provide cash in exchange for rolled coins, and will provide assistance for high-volume and business customers with “alternative coin-counting solutions.”