Most banks will exchange coins for cash, but the rules vary by bank and account type
Yes, most banks exchange coins for cash at no charge if you have an account with them. The exchange happens at the teller window during business hours. You hand over your coins in any container, the teller counts or weighs them, and you receive bills or a deposit to your account. No appointment needed.
The catch: policies differ. Some banks limit how much coin they'll exchange per transaction or per day. Some require you to be a customer in good standing. Some will exchange coins only if you roll them yourself in paper sleeves first. A few banks have stopped accepting coins altogether, especially after the 2020 coin shortage when Federal Reserve distribution tightened. Call your branch before you go.
If you don't have a bank account, or your bank won't take coins, you have other routes: coin-counting machines at grocery stores and laundromats (which take a cut), credit unions, or the Federal Reserve Bank in your region (which serves banks, not individuals directly).
Key Takeaways
- Banks that you have an account with typically exchange coins for cash free at the teller window, but policies on limits and requirements vary by institution.
- Some banks require coins to be rolled in paper sleeves before exchange, while others will count loose coins; call ahead to confirm your bank's specific process.
- If your bank refuses coins or you have no account, coin-counting machines at grocery stores and laundromats charge a percentage fee, usually 8 to 12 percent.
- Credit unions often have more lenient coin policies than banks and may exchange coins for non-members in some cases.
- The Federal Reserve Bank does not serve individual customers directly but can sometimes refer you to a bank that will handle large coin exchanges.
What happens when you bring coins to your bank
Walk up to the teller window during regular business hours with your coins in any container—a jar, a bag, a bucket. The teller will either count them by hand or run them through a coin counter machine. This takes a few minutes for small amounts, longer for large ones. Once counted, you receive the equivalent in cash or a deposit to your checking or savings account, whichever you choose.
No receipt is required, though you can ask for one. The teller will note the transaction in your account record. If you're depositing the coins, they show up immediately; if you're taking cash, you walk out with it. The whole process is free for account holders.
Banks that have strict coin policies or refuse coins
Not all banks treat coins the same way. Some large national banks—including Chase, Bank of America, and Wells Fargo—have tightened coin policies in recent years. Chase, for example, requires coins to be rolled in paper sleeves and limits exchanges to $500 per customer per month. Bank of America will exchange coins but may ask you to use a coin-counting machine first or to roll them yourself.
Smaller regional banks and community banks tend to be more flexible. Some will take loose coins with no limit. Others have stopped accepting coins entirely and will direct you to a coin-counting machine or another bank. Call your specific branch—policies can differ between locations of the same bank.
If your bank refuses, ask whether they recommend a partner bank or credit union nearby that will take coins. Many banks have informal agreements with each other for this purpose.
Coin-counting machines: the cost and where to find them
Coin-counting machines sit in grocery stores, laundromats, arcades, and some retail locations. You dump your coins in, the machine counts them, and it prints a receipt or voucher. The catch: the machine takes a cut, typically 8 to 12 percent of the total. A jar of $100 in coins might net you $88 to $92.
Some machines offer a "no fee" option if you accept the payout as a gift card for that store instead of cash. Coinstar, the largest coin-counting network in the US, operates machines in over 20,000 locations. Their standard fee is 11.9 percent for cash, but the fee drops to zero if you choose an Amazon gift card, iTunes card, or a donation to charity.
Coin-counting machines are fastest if you have a large amount and your bank won't take it. They're slowest if you have a small amount, because the fee eats into your return. For $20 in coins, you lose $2 to $2.40. For $200, you lose $16 to $24.
Credit unions and coin exchanges
Credit unions often have looser coin policies than banks. Many will exchange coins for members at no charge and with no rolling requirement. Some credit unions will exchange coins for non-members too, though you may need to open a temporary account or pay a small fee.
If you belong to a credit union, call and ask whether they accept coins and whether there are any limits. If you don't belong to one but need to exchange coins, search for a credit union in your area that accepts non-member coin exchanges. The CO-OP Network and Shared Branch locator tools can help you find one nearby.
The Federal Reserve and large coin exchanges
The Federal Reserve Bank does not exchange coins for individual customers. It serves banks and other financial institutions. However, if you have a very large amount of coins—thousands of dollars—you can contact your regional Federal Reserve Bank and ask for a referral to a bank that handles bulk coin exchanges. They may direct you to a bank that specializes in business coin deposits or armored car services.
For most people, this route is unnecessary. A standard bank or credit union handles the job. But if you've inherited a coin collection or found a large cache, the Federal Reserve can point you toward the right institution.
What to bring and how to prepare
Bring your coins in any container. You don't need to sort them by denomination—the teller or machine will do that. If your bank requires rolled coins, you can buy paper coin sleeves at any bank, drugstore, or online. Rolls come in standard sizes: pennies (50 coins per roll), nickels (40), dimes (50), and quarters (40).
If you're exchanging a large amount, call your branch ahead of time to let them know. Some banks appreciate a heads-up so they can have enough cash on hand. Bring your ID and your account number if you have one. If you're not a customer, ask whether they'll exchange coins anyway—some will as a courtesy, others won't.
Frequently Asked Questions
Can I exchange coins at a bank where I don't have an account?
Most banks will not exchange coins for non-customers. Some may make an exception for a small amount as a courtesy, but don't count on it. Your best option is a credit union, which often accepts non-members, or a coin-counting machine, which takes anyone but charges a fee.
Do I have to roll my coins before I bring them to the bank?
It depends on the bank. Some require rolled coins; others will count loose coins. Call your branch and ask. If they require rolls, you can buy paper sleeves at the bank itself, at a drugstore, or online. Rolling takes 10 to 20 minutes for a large jar.
What if the bank says they won't take my coins?
Ask them to recommend a nearby bank or credit union that will. If none will, use a coin-counting machine at a grocery store or laundromat. You'll lose 8 to 12 percent to the fee, but you'll get cash. Coinstar machines offer zero-fee payouts if you accept a gift card instead.
How long does a coin exchange take?
For a small jar (under $50), expect 5 to 10 minutes. For larger amounts, 15 to 30 minutes. Coin-counting machines are faster—usually 2 to 5 minutes—but charge a fee. If you call ahead and let the bank know you're coming with a large amount, they can prepare and move faster.
Can I deposit coins directly into my account without going to the teller?
No. Coins must be counted by a teller or machine. You cannot use an ATM or mobile deposit for coins. You have to go to the branch in person during business hours.