Banks will take loose change, but the process depends on whether you're a customer and how much you have

Most banks accept loose coins from their own customers during normal deposit transactions. You can bring coins to a teller, hand them over with your other deposit items, and they'll be counted and added to your account. The bank's counting machine handles the sorting and verification. If you're not a customer, many banks will still accept coins, but some require you to open an account first or may direct you to a coin-counting service instead.

The real constraint is volume and condition. Banks have limits on how much loose change they'll process in a single transaction—typically anywhere from a few hundred dollars to a few thousand, depending on the branch and how busy they are. Coins that are heavily damaged, foreign, or so old they're no longer in circulation may be refused. The bank isn't trying to be difficult; they're managing the time it takes their staff and machines to process the deposit.

Key Takeaways

  • Banks accept loose coins from customers as part of normal deposits, counted by machine or by hand depending on the branch.
  • Non-customers may be turned away or directed to a coin-counting service, though some banks will process coins for a fee.
  • Large volumes of coins can take longer to process and may need to be scheduled in advance with your branch.
  • Damaged, foreign, or obsolete coins are often refused because banks cannot deposit them to their own accounts.
  • Coin-counting machines at grocery stores and laundromats offer an alternative if your bank won't take the coins or you want faster processing.

What happens when you bring coins to your bank

If you're a customer, walk in during business hours with your coins in any container—a bag, a jar, a rolled-up sock. Tell the teller you want to deposit coins. They'll either count them by hand (for small amounts) or pour them into the bank's coin-counting machine, which sorts by denomination and verifies the total. The amount goes into your account the same day, or within one business day depending on the bank's deposit cutoff time.

The teller may ask you to wait while the coins are counted, or they may ask you to come back later. If you have a very large amount—say, more than $500 in coins—call your branch ahead of time. Some branches will schedule you for a specific time so they can process the coins without disrupting the regular line. Others will ask you to bring the coins in rolled form (the paper rolls you buy at the bank) to speed up the process.

Non-customers and coin deposits

If you don't have an account at the bank, the answer varies by institution. Some banks will process coins for non-customers but charge a fee, usually 5 to 10 percent of the total. Others will refuse outright and direct you to a coin-counting machine or suggest you open an account. A few will accept coins from non-customers at no charge, but this is becoming less common as banks consolidate their services.

Before you go to the bank with loose change and no account, call ahead. Ask whether they accept non-customer coin deposits and what the fee is. If they don't, you have faster alternatives: most grocery store chains (Walmart, Target, Kroger, Safeway) have coin-counting machines in the customer service area that charge 8 to 12 percent. Laundromats and arcades sometimes have machines too, though the fee can be higher.

Why banks refuse some coins

Banks won't accept coins that are damaged beyond recognition, heavily corroded, or so worn that the denomination is unclear. They also refuse foreign coins—euros, pesos, Canadian coins, anything not U.S. currency. The reason is straightforward: the bank can't deposit those coins to its own account with the Federal Reserve. If a bank accepts damaged or foreign coins from you, they're stuck holding them and can't move them through the banking system.

Coins from discontinued series (like old Susan B. Anthony dollars or certain commemorative coins) are usually accepted if they're in decent condition, because they're still legal tender and the Federal Reserve will take them. But if a coin is so rare or collectible that it's worth more than face value, the bank will still only credit you for the face value. If you think you have valuable coins, have them appraised before depositing them.

Rolling coins versus loose coins

Some banks prefer coins to arrive in paper rolls—pennies in rolls of 50, nickels in rolls of 40, dimes in rolls of 50, quarters in rolls of 40. You can buy empty rolls at the bank for a few cents, or sometimes free if you're a customer. Rolling coins yourself takes time but speeds up the deposit process because the teller doesn't have to run them through the machine. If you're depositing more than a few dollars in coins, rolling them first is worth the effort.

Loose coins are fine for small amounts. For anything over $100, rolling them or calling ahead to schedule a deposit will make the process smoother for you and the bank. If you're depositing coins regularly—say, from a business that handles cash—ask your branch whether they prefer rolled or loose coins and whether they can arrange a standing pickup.

Alternatives to bank coin deposits

If your bank charges a fee, won't take your coins, or you want the money faster, coin-counting machines are widely available. Grocery stores, Walmart, Target, and most supermarket chains have them in the customer service area. You pour your coins in, the machine counts them, and you get a receipt. You can then cash the receipt at the customer service desk or deposit it like a check. The fee is typically 8 to 12 percent of the total, though some stores waive it if you use the money to buy groceries.

Laundromats, arcades, and some banks also have coin-counting machines. The fee varies—sometimes higher than grocery stores. If you have a large amount of coins, compare the fee at your bank (if they charge one) to the fee at a coin-counting machine. For $100 in coins, a 10 percent fee is $10, so it's worth shopping around.

Frequently Asked Questions

Can I deposit coins at an ATM?

No. ATMs accept only bills. You must go to a teller or use a coin-counting machine. Some newer ATMs at certain banks can dispense coins, but none accept them as deposits.

What if I have a lot of coins—like $1,000 or more?

Call your branch and ask to schedule a time. Large deposits may require advance notice so the bank can have staff available to process them. Bring the coins in rolled form if possible. The bank may ask you to bring them in over multiple visits if the volume is very large.

Do banks report large coin deposits to the IRS?

Banks report deposits over $10,000 to the IRS as part of standard anti-money-laundering procedures. This applies to any deposit—coins, cash, checks—regardless of the source. The report is routine and doesn't mean you've done anything wrong.

Can I deposit coins from other countries?

No. Banks only accept U.S. currency. Foreign coins have no value in the U.S. banking system. If you have foreign coins, you'd need to exchange them at a currency exchange service, which typically charges a fee.

What's the fastest way to turn loose change into money?

A coin-counting machine at a grocery store or Walmart is usually fastest—five minutes from start to finish. You'll pay 8 to 12 percent in fees. If you're a bank customer with a small amount of coins, a teller deposit is free but may take longer depending on how busy the branch is.