Most banks accept coins, but they often charge a fee or require you to use a coin counter machine
Yes, banks accept coins. However, the process and any costs depend on your bank, the amount of coins you have, and whether the coins are rolled or loose. Some banks will take loose coins for free if you're a customer, while others charge a per-pound fee or require you to use a coin-counting machine in the lobby. A few banks have stopped accepting coins altogether, so it's worth calling your branch first.
The most common scenario is this: if you bring rolled coins (coins wrapped in paper sleeves), most banks deposit them without a fee. If you bring loose coins, you may face a fee ranging from a few cents per pound to a percentage of the total value. Some banks offer free coin deposit to account holders but charge non-customers. Others have removed coin-counting services entirely due to staffing and time constraints.
Key Takeaways
- Rolled coins are almost always accepted free at banks, while loose coins often trigger a fee or require use of a lobby coin counter.
- Call your specific branch before bringing in a large amount of coins, because policies vary widely between banks and even between branches of the same bank.
- If your bank no longer accepts coins, credit unions, grocery stores with coin machines, and laundromats offer alternatives, though some charge a percentage.
- Coin-counting machines at grocery stores and pharmacies typically charge 8 to 12 percent of the value but give you cash or a gift card on the spot.
What happens when you bring rolled coins to the bank
Rolled coins are the easiest to deposit. You can buy coin wrappers at any drugstore or supermarket—they come in standard sizes for pennies, nickels, dimes, and quarters. Each roll holds a set number of coins: 50 pennies, 40 nickels, 50 dimes, or 40 quarters. Banks expect the rolls to be accurate, so count carefully before you seal them.
When you bring rolled coins to a teller, they typically accept them without charge if you have an account there. The teller may spot-check a few rolls to verify the count, but they won't open every one. Deposit them like you would cash or checks—hand them to the teller, and they'll add the total to your account. The transaction appears on your statement as a coin deposit.
Loose coins and coin-counting fees
Loose coins are where fees come in. If you dump a jar of loose coins on the counter, the bank has to count them by hand or run them through a machine, which takes time. Many banks now charge for this service—typically between $0.05 and $0.10 per pound of coins, or sometimes a flat percentage like 5 to 10 percent of the total value.
Some banks offer free loose-coin deposits to account holders but charge non-customers. Others have installed coin-counting machines in the lobby that customers can use for free. A few large banks, including some branches of Bank of America and Wells Fargo, have phased out coin acceptance entirely, though policies vary by location and change over time. This is why a phone call to your branch is the fastest way to know what to expect.
How to find out your bank's specific policy
Call the branch where you hold your account and ask directly: "Do you accept loose coins, and is there a fee?" Have the amount ready so you can ask about the cost if there is one. If you're a new customer or don't have an account, mention that too—some banks treat the two differently.
If your bank no longer accepts coins or charges more than you want to pay, you have other options. Credit unions often have more flexible coin policies than large banks. Some will accept loose coins from members for free. If you don't belong to a credit union, you can join one—many have low or no membership fees and serve geographic areas or employer groups.
Alternatives if your bank won't take coins
Grocery stores and pharmacies with self-service coin-counting machines are the most common alternative. Machines made by Coinstar are in thousands of supermarkets, Targets, and Walmarts across the country. They charge 8 to 12 percent of the value of the coins you feed in. You get cash back, a gift card (which costs less in fees), or a donation receipt if you choose to give the money to charity.
Laundromats sometimes have change machines that accept coins and dispense bills, though they typically charge a small fee or don't charge at all if you're a customer. Some banks' ATMs accept coin deposits if you have an account, though this is rare. Your best bet is to call ahead and ask whether the location accepts the amount you have.
How to prepare coins for deposit
If you're bringing loose coins, put them in a bag or container that's straightforward to carry and pour. Don't bring them in a jar you need back—the bank won't return it. Count them yourself first if you want to know the total before you arrive, though the bank will count them again.
For rolled coins, use standard coin wrappers and count each roll carefully. Misrolled coins slow down the deposit process and can result in the bank asking you to recount them. If you have a very large amount—more than a few hundred dollars—call ahead. Some branches may ask you to bring it in at a specific time or may request that you use a coin-counting service first.
What banks do with coins after you deposit them
Once the bank accepts your coins, they don't stay in the branch. Banks send coins to a Federal Reserve processing center, where they're counted, sorted, and redistributed to banks that need them. This is why banks sometimes run low on coins during high-demand periods—the supply chain is slower than it is for paper money. During the 2020 coin shortage, many banks temporarily stopped accepting coins because the Federal Reserve couldn't process them fast enough.
The coins you deposit are added to your account balance the same way cash is. There's no separate "coin account"—it all goes into your checking or savings balance.
Frequently Asked Questions
Can I deposit coins at an ATM?
Most ATMs do not accept coins—they only take bills. A few banks have coin-deposit ATMs for account holders, but these are uncommon. Call your bank to ask whether your branch has one. If not, you'll need to use a teller or a coin-counting machine.
What if I have foreign coins mixed in?
Banks will not accept foreign coins. Separate them out before you deposit. You can exchange foreign coins at some banks for a fee, or sell them online, but most banks won't take them as part of a regular deposit.
Do I have to be a customer to deposit coins?
It depends on the bank. Many banks accept coin deposits only from account holders. Non-customers are usually turned away or charged a higher fee. If you don't have an account, a credit union, grocery store coin machine, or laundromat is a faster option.
How long does it take for coins to show up in my account?
Coins deposited at a teller usually appear in your account the same day or the next business day, just like cash or checks. If you use a coin-counting machine, the transaction is when ready—you get cash or a gift card on the spot.
What if the bank says they won't accept my coins?
Ask whether they accept rolled coins only, or whether they have a coin machine in the lobby. If they've stopped accepting coins entirely, use a grocery store coin counter, credit union, or laundromat. Coin-counting machines charge a fee but are faster than trying to find a bank that will take them.