Most banks will exchange coins for cash, but the rules vary by bank and account type
Yes, banks exchange coins for cash. The process is straightforward if you have an account there: bring your coins in, ask a teller, and they will count them and credit your account or hand you bills. Some banks do this free for account holders. Others charge a fee—usually a small percentage of the total, often 5 to 10 percent, though some waive it for customers with certain account types or balances.
If you don't have an account at the bank, most will still exchange coins, but fees are more common and sometimes higher. A few banks refuse non-customers entirely. The best move is to call ahead and ask what that specific bank's policy is, because the rules are set by each branch and can differ even within the same bank chain.
Key Takeaways
- Account holders at most banks can exchange coins for cash free or for a small fee, usually 5 to 10 percent.
- Non-account holders may face higher fees or be turned away, so calling ahead saves a wasted trip.
- Coin-counting machines at grocery stores and laundromats charge 8 to 12 percent but work without an account or appointment.
- Rolls of coins sorted by denomination are usually accepted faster and sometimes with lower or no fees than loose coins.
- Credit unions often have more lenient coin-exchange policies than large national banks.
What happens when you bring coins to your bank
Walk in during business hours with your coins in any container—a bag, jar, or bucket. Tell the teller you want to exchange them for cash or deposit them into your account. If you have an account, the teller will either count them by hand or run them through a coin counter, depending on the branch's equipment and how busy they are. The count takes anywhere from a few minutes to half an hour if the volume is large.
Once counted, the bank credits your account when ready or hands you the cash equivalent. If you're depositing, the money is yours to withdraw whenever you want. If you're exchanging for bills on the spot, you walk out with cash. Either way, the transaction is done in one visit.
Fee structures and when you'll pay them
Large national banks like Bank of America, Wells Fargo, and Chase typically charge account holders nothing to exchange coins, though some branches have started charging a small fee (usually 5 to 10 percent) if the amount is very large or if you're not a regular customer. Regional and community banks vary widely—some charge nothing, others charge a flat fee of $1 to $5, and some charge a percentage.
Non-account holders almost always pay a fee. It ranges from 5 to 15 percent depending on the bank. Some banks set a minimum transaction size (for example, they won't exchange less than $10 worth of coins) or a maximum (they won't take more than $100 in coins without an appointment). A few large banks have stopped accepting coins from non-customers altogether, citing staffing and time constraints.
Credit unions tend to be more flexible. Many waive fees for members and sometimes for non-members too, especially if the amount is modest. If you belong to a credit union, that's often your best option.
Alternatives if your bank won't do it or charges too much
Coin-counting machines are the most common alternative. You'll find them at grocery stores, laundromats, arcades, and some pharmacies. You dump your coins in, the machine counts them, and it either gives you cash or a receipt you can redeem at the customer service desk. The fee is usually 8 to 12 percent, sometimes higher. The advantage is speed and no appointment needed. The disadvantage is the fee and the fact that some machines jam or miscount.
Coinstar is the largest coin-counting machine operator in the United States. Their machines are in thousands of grocery stores and retail locations. They charge 11.9 percent as of this writing, though that rate can change. They also offer an option to convert your coins into a gift card for certain retailers (Amazon, Target, Walmart) with no fee, which is worth considering if you shop at those places anyway.
If you have a large amount of coins, some banks will set up an appointment for you to bring them in. This gives the bank time to prepare and sometimes results in a waived or reduced fee. Call your branch and ask if they offer this.
How to prepare coins to make the exchange faster
Sorting coins by denomination before you bring them in speeds up the process and sometimes earns you a lower fee or no fee at all. Pennies, nickels, dimes, and quarters in separate bags or rolls are much faster for a teller to handle than a mixed pile. Some banks specifically ask for this.
If you want to go further, you can roll the coins yourself using paper coin wrappers, which you can buy at any bank or office supply store for a few dollars. A standard roll holds 50 pennies, 40 nickels, 50 dimes, or 40 quarters. Rolled coins are the fastest to process and some banks give a small discount or waive the fee entirely for rolled coins from account holders.
Clean coins are not required, but heavily tarnished or damaged coins might be rejected by a coin counter. Hand-cleaning with a soft cloth is fine if you want to do it, but don't use harsh chemicals or abrasives.
What to do if your bank refuses
If your bank says no, try another bank in your area—even if you don't have an account there. Call first and ask their non-customer coin-exchange policy. Credit unions in your area are worth calling too; they often have looser policies than banks.
If no bank or credit union will take them, a coin-counting machine is your next move. The fee stings, but it's faster than trying multiple locations. Coinstar's gift card option (no fee) is worth exploring if you use Amazon, Target, or Walmart.
As a last resort, some coin dealers and numismatic shops will exchange coins, though they typically focus on rare or collectible coins and may not be interested in regular circulating coins. Call ahead to ask.
Frequently Asked Questions
Can I exchange coins at a bank where I don't have an account?
Most banks will exchange coins for non-account holders, but they usually charge a fee of 5 to 15 percent. Some banks refuse non-customers entirely. Call the branch first to confirm their policy before you go.
Do I have to roll my coins before I bring them to the bank?
No, but rolled coins are processed faster and sometimes may have access to for a lower fee or no fee. If you bring loose coins, the teller will count them by hand or use a machine, which takes longer but still works.
What's the difference between a bank coin exchange and a Coinstar machine?
Banks are usually free or cheaper for account holders but may charge non-customers 5 to 15 percent. Coinstar charges 11.9 percent for everyone but offers a no-fee option if you convert to a gift card for Amazon, Target, or Walmart instead of cash.
How long does it take to exchange coins at a bank?
For a small to moderate amount (under $50), expect 5 to 15 minutes. Larger amounts may take 20 to 30 minutes, or the bank may ask you to come back later or make an appointment. Coin-counting machines are usually faster—2 to 5 minutes.
Will the bank take damaged or foreign coins?
U.S. coins in normal condition are always accepted. Heavily damaged coins may be rejected by coin counters. Foreign coins are not exchanged at banks; you would need a currency exchange service or a coin dealer.