Yes, banks will take coins, but the process depends on whether you're a customer and how many coins you have
Most banks accept coins from their own customers at no charge during normal business hours. You can bring coins to a teller, and they'll count them and deposit the money into your account. If you have a very large amount of coins, call ahead — some branches ask you to bring them in rolled form or to use a coin-counting machine first.
If you're not a customer of the bank, or if you want cash instead of a deposit, the answer is more complicated. Some banks will exchange coins for cash only if you have an account with them. Others turn away non-customers entirely. A few will do it for a small fee, usually a percentage of the total value.
Key Takeaways
- Bank customers can deposit coins for free at their own bank during regular hours.
- Non-customers may be turned away or charged a fee, depending on the bank's policy.
- Coin-counting machines at grocery stores and laundromats offer an alternative, though they typically take a percentage of the value.
- Rolled coins (coins sorted and wrapped in paper sleeves) are easier for banks to process than loose coins.
- Some banks have stopped accepting coins altogether due to coin shortages and processing costs.
What happens when you bring coins to your bank
If you have a checking or savings account at a bank, walk in during business hours with your coins in any form — loose, in a bag, or rolled. Tell the teller you want to deposit them. The teller will either count them by hand, run them through a coin counter, or ask you to use the bank's coin-counting machine if one is available.
The money goes into your account when ready. You don't pay a fee. The only catch is time: if you have several pounds of coins, the teller may ask you to come back when the branch is less busy, or to pre-sort them into rolls at home.
Rolled coins speed up the process. Paper coin wrappers are sold at most banks and office supply stores for a few dollars. A roll holds 50 pennies, 40 nickels, 25 dimes, or 20 quarters. If you roll them before you go, the teller can verify the count without opening each roll.
If you don't have an account at the bank
Banks are not required to accept coins from non-customers. Many will refuse outright. Others will do it for a fee — typically 5 to 10 percent of the total value, though this varies widely by bank and branch.
Before you go, call the bank and ask their policy. Explain that you're not a customer and ask whether they'll exchange coins for cash and what the fee is. Some branches have different rules than others, even within the same bank, so calling ahead saves a wasted trip.
If the bank turns you down or charges too much, you have other options. A coin-counting machine at a grocery store or laundromat will count your coins and give you cash or a voucher, but they typically take 8 to 12 percent of the total. Some machines are free if you use the cash to shop at that store.
Why some banks won't take coins anymore
During 2020 and 2021, the U.S. faced a coin shortage. Fewer coins were in circulation, and banks had to ration what they had. Some banks stopped accepting coins from customers to preserve their supply. Even though the shortage has eased, not all banks have resumed taking coins.
Coins are also expensive for banks to process. A teller's time, the cost of running a coin counter, and the logistics of shipping coins back to the Federal Reserve all add up. For a bank, a customer depositing $20 in coins takes longer to process than a customer depositing a $20 check, and the bank makes no money on either transaction.
If your bank has stopped accepting coins, ask whether they plan to resume. Some branches have a specific date in mind. If not, you'll need to use a coin-counting machine or open an account elsewhere.
Coin-counting machines and other alternatives
Coin-counting machines are the most common alternative. You'll find them at grocery stores, laundromats, arcades, and some pharmacies. You pour your coins in, the machine counts them, and you get cash or a store voucher. The fee is usually 8 to 12 percent, though some machines are free if you take the money as store credit.
Coinstar is the largest coin-counting service in the U.S., with machines in thousands of locations. You can find one near you on their website. Other regional services exist, and some banks operate their own machines for customers only.
If you have a very large amount of coins, you can also contact a coin dealer or a bank that specializes in currency exchange. These are less common, but they may offer better rates than a standard coin counter, especially if your coins include older or rare pieces.
How to prepare coins for the bank
Rolling your coins before you go saves time and shows respect for the teller's schedule. Separate coins by denomination — pennies, nickels, dimes, and quarters — and roll each type. Use paper wrappers, not plastic, because the bank needs to open them to verify the count.
If you have a very large amount, call ahead and ask the best time to bring them in. Some branches prefer you to come on a slow day, like a Tuesday morning. If the coins are dirty or sticky, rinse them gently and let them dry before rolling.
Write your account number on a deposit slip and hand it to the teller along with the rolls. If you're depositing loose coins, the teller will count them, but this takes longer.
What to do if your bank refuses coins
If your bank has a policy against accepting coins, ask whether there's an exception for large deposits or for customers in good standing. Some branches will make an exception if you give them notice.
If they won't budge, consider switching to a bank that accepts coins. Credit unions often have more flexible policies than large national banks. Community banks and smaller regional banks are also more likely to take coins from customers.
You can also ask whether the bank will accept coins if you roll them yourself and bring them in during off-peak hours. Some tellers are more willing to help if you've done the work for them.
Frequently Asked Questions
Can I exchange coins for cash at a bank if I don't have an account?
Some banks will do it for a fee, usually 5 to 10 percent of the total value. Others refuse non-customers entirely. Call ahead and ask the specific branch, because policies vary. If they won't help, a coin-counting machine at a grocery store is your next option.
Do I have to roll coins before I bring them to the bank?
No, but it speeds up the process. Rolled coins in paper wrappers are faster for the teller to verify and process. If you bring loose coins, the teller will count them, but it may take longer and the branch may ask you to come back during a slower time.
What's the difference between a coin-counting machine and a bank deposit?
A bank deposit is free for customers and puts the money directly into your account. A coin-counting machine charges a fee (usually 8 to 12 percent) but gives you cash when ready and doesn't require an account. The machine is faster if you need cash right away; the bank is cheaper if you can wait.
Why did banks stop taking coins during the shortage?
The U.S. faced a coin shortage in 2020 and 2021 because fewer coins were circulating. Banks had to ration their supply and stopped accepting deposits from customers to preserve what they had. The shortage has eased, but some banks have not resumed taking coins because of the cost of processing them.
Can I deposit coins at an ATM?
Most ATMs do not accept coins. A few banks have special coin-deposit machines at their branches, but these are rare. Ask your bank whether they have one. Otherwise, you'll need to go to a teller or use a coin-counting machine.