Mediaboss Marketing

BOSTON (CBS) Change-counting machines seem as quaint as dialing a rotary telephone, but theyre making a comeback with some banks whose executives see them as a way to get people into branches and snag new customers.

TD Bank, the states fourth-largest by assets, has coin counting machines in 1,113 of its branches, which range from Maine to Florida.

About 97 of those are in Massachusetts.

Every time TD opens a new branch, it puts in a coin machine, named Penny Arcade.

Most branches have one machine for adults and another closer to the ground for children.

Why is TD so keen on installing Penny in its branches?

The coin machines bring in new business.

In 2011, TD opened 85,212 new accounts by turning non-customers into bank members following a Penny Arcade experience.

Using the machines is free for bank members, while non-customers pay a 6 percent fee. The bank started installing the coin machines in its branches in 1999.

They are very popular, Marion Colombo, TD Banks senior vice president of retail banking told the Boston Business Journal.

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Banks Use Coin Counting Machines To Attract Customers