Banks will take loose change, but the process and any fees depend on whether you're a customer, how much you have, and which bank you use

If you walk into a bank with a bag of coins, you have options. Most banks will accept loose change from their own customers at no charge during normal deposit transactions. Some banks charge non-customers a fee to exchange coins. A few banks have stopped accepting coins altogether, though this is less common now than it was during the 2020 coin shortage. The fastest route is usually to ask your bank directly—policies vary by branch and by institution, and what one bank charges another may do for free.

The real constraint is not whether banks will take your coins, but how they prefer to receive them. Most banks want coins rolled or in a bag they can weigh and count. Dumping loose change on a teller's counter creates work, and some branches will ask you to roll it first or use a coin-counting machine before you deposit it.

Key Takeaways

  • Your own bank's customers can usually deposit loose change for free, but you may need to roll it or use the bank's coin counter first.
  • Non-customers who want to exchange coins often face a fee, typically between 5 and 10 percent of the total value, though some banks waive it for small amounts.
  • Many banks have coin-counting machines on-site that customers can use before depositing, which speeds up the process and reduces teller work.
  • If your bank won't take coins, grocery stores with coin-counting services, laundromats, and arcade change machines are alternatives, though they also charge fees.

What happens when you bring loose change to your bank

When you arrive with coins, the teller will either count them by hand, run them through a coin counter, or ask you to use the bank's self-service machine first. If you're a customer with an account, this service is free. The coins go into your account the same way a cash deposit does—they're added to your balance that day or the next business day, depending on the bank's deposit cutoff time.

The teller may ask you to roll the coins before depositing them. Rolled coins are faster to process because the bank can verify the count without opening each roll. If you don't have rolls, most banks sell them at the counter for a small fee, or you can bring your own. Some branches have a coin-rolling machine customers can use.

If you show up with a very large amount of loose change—say, several hundred dollars—the bank may ask you to come back with it rolled or bagged. This is not a refusal; it's a request to make the deposit faster for both of you. A few banks have stopped accepting coins entirely, but this is rare now. Call ahead if you have more than a few dollars in loose change.

Fees for non-customers who want to exchange coins

If you don't have an account at the bank, you may be charged a fee to exchange your coins for bills or to deposit them. The fee is usually a percentage of the total—typically 5 to 10 percent—though some banks charge a flat fee instead. A bank might charge you $5 to exchange $100 in coins, for example.

Some banks waive the fee for small amounts or for customers who open an account. Others have stopped charging non-customers altogether. The policy varies widely, so call the branch before you go. If the fee is steep, you may find it cheaper to use a grocery store coin counter or a laundromat change machine, even though those also charge a percentage.

Using a bank's coin-counting machine

Many banks have a self-service coin counter in the lobby that customers can use for free. You pour your loose change into the machine, it counts and sorts the coins, and it either dispenses a receipt you take to the teller or deposits the amount directly into your account. The machine is faster than having a teller count by hand, and it reduces the chance of a counting error.

If your bank has a machine, ask whether you need to be a customer to use it. Most banks allow their own customers to use the machine without restriction. Some machines are available 24 hours if they're in the lobby; others are only accessible during business hours. If your bank doesn't have a machine, ask whether the teller can run your coins through one, or whether you need to roll them first.

Alternatives if your bank won't take coins

If your bank refuses loose change or charges a high fee, you have other options. Many grocery stores have coin-counting machines in the customer service area. These machines typically charge 8 to 10 percent of the total value, but some offer a discount if you use the coins to buy a gift card instead of taking cash. Coinstar is the largest operator of these machines; you can find locations on their website.

Laundromats and arcades often have change machines that will exchange bills for coins, but they usually won't take loose coins and convert them to bills. Some credit unions are more flexible with coin deposits than banks are, so if you belong to one, it may be worth asking. A few banks still have coin-wrapping services where you can bring loose change and they'll roll it for you at no charge, which you can then deposit elsewhere.

Why some banks became reluctant to take coins

During 2020 and 2021, the Federal Reserve reported a shortage of coins in circulation. Banks and retailers struggled to get coins from the Fed, and some banks temporarily stopped accepting coin deposits to preserve their supply. Many of these restrictions have been lifted, but a few banks kept the policy in place. The shortage was caused partly by reduced cash handling during the pandemic and partly by coins sitting in people's homes instead of circulating.

Even as coins became available again, some banks found that processing coins was expensive compared to processing other forms of payment. Coin counters require maintenance, tellers spend time on coins instead of other transactions, and the Federal Reserve charges banks to deposit coins. For these reasons, a few large banks have discouraged coin deposits or limited them to customers only. This is not universal—most banks still accept coins from their customers without complaint.

How to prepare coins for deposit

If you're bringing coins to your bank, roll them first if you can. Coin rolls come in standard sizes: pennies in rolls of 50, nickels in rolls of 40, dimes in rolls of 50, and quarters in rolls of 40. You can buy empty rolls at most banks, office supply stores, or online. If you don't have rolls, put the coins in a clear bag or container so the teller can see what you have.

Sort the coins by denomination if possible. This makes counting faster and reduces the chance of an error. If you have a very large amount, call the branch ahead of time and ask what they prefer. Some branches will ask you to use their coin counter before approaching the teller, which saves time for everyone.

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, but these are uncommon. Ask your bank whether any of their ATMs accept coins. If not, you'll need to visit a teller during business hours or use a coin-counting machine in the lobby.

What if I have a huge amount of loose change?

Call your bank first and tell them how much you have. They may ask you to roll it, use a coin counter, or come back at a quieter time. If you have several thousand dollars in coins, the bank may ask you to bring it in over multiple visits or to use their coin counter during off-peak hours.

Do I have to be a customer to use a bank's coin counter?

Most banks reserve their coin counters for customers only. Some allow non-customers to use the machine for a fee. Call ahead to ask. If the fee is high, a grocery store coin counter may be cheaper.

Will a bank take coins that are damaged or very old?

Banks will take damaged coins as long as they're still recognizable and the denomination is clear. Very old coins in good condition may have collector value—if you think you have rare coins, have them appraised before depositing them. The bank will treat them as face value only.

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

If you're a bank customer, use the bank's coin counter and deposit the amount directly into your account. If you need cash when ready, a grocery store coin counter is faster than a bank teller, though it charges a fee. If you want to avoid fees entirely, rolling the coins yourself and depositing them at your bank is free but takes more time upfront.