Yes, you can deposit coins and change into your bank account
Most banks accept coin deposits from customers who hold accounts with them. You can bring loose change, rolled coins, or a mix of both to a teller during business hours. The bank will count it, verify the amount, and credit it to your account. Some banks charge a fee for coin deposits if the amount is small or if you use their coin-counting machine; others waive the fee for account holders. A few banks no longer accept coins at all, so check your bank's policy before you go.
The process is straightforward but slower than depositing paper money or checks. A teller will either count the coins by hand or run them through a coin counter. Either way, expect to spend 10 to 20 minutes if you have more than a handful of change. If you bring a large volume—say, several pounds of coins—call ahead and ask whether the bank prefers you to roll the coins first or bring them in a bag for their machine to handle.
Key Takeaways
- Most banks accept coin deposits at the teller window during business hours, though a few have stopped accepting coins entirely.
- Some banks charge a fee for coin deposits, especially if you use their coin-counting machine, but many waive the fee for account holders.
- Rolled coins are faster to process than loose change, so rolling your coins before you go can save time.
- Call your bank before you arrive with a large volume of coins to confirm they accept them and ask how they prefer you to bring them.
How to prepare coins before you deposit them
You do not have to roll your coins before depositing them, but doing so speeds up the process and may help you avoid a fee. If you roll them yourself, use standard coin wrappers (paper sleeves designed for each denomination) and stack them neatly in a bag or container. Standard rolls hold 50 pennies, 40 nickels, 25 dimes, or 20 quarters.
If you do not have coin wrappers, most banks and credit unions sell them at the teller window for a small cost, or you can buy them online. Alternatively, bring your coins loose and let the bank's machine count them. This is free at many banks for account holders, though some charge 5 to 10 cents per dollar of coins counted. Ask about the fee before you hand over your change.
Fees and limits on coin deposits
Fee policies vary widely by bank. Some charge nothing for coin deposits, regardless of the amount. Others charge a percentage of the total (typically 5 to 10 cents per dollar) if you use their coin counter, but waive the fee if you bring rolled coins. A few banks charge a flat fee—$5 or $10—for any coin deposit over a certain amount, such as $50 or $100.
There is no federal limit on how much change you can deposit into your own bank account. However, banks are required to report deposits of $10,000 or more in currency (including coins) to the IRS on a form called a Currency Transaction Report. This is routine and does not mean you have done anything wrong—it is simply a reporting requirement. If you are depositing a very large amount of coins, the bank may ask where the money came from, but they cannot refuse the deposit based on the source alone.
Alternatives if your bank does not accept coins
A small number of banks have stopped accepting coin deposits from customers. If yours is one of them, you have several options. You can use a coin-counting kiosk at a grocery store or pharmacy—Coinstar machines are the most common—though they typically charge 10 to 12 percent of the total value. You can also exchange coins for paper money at a bank teller window (even if you do not have an account there, though some banks limit this to account holders), then deposit the cash.
Another option is to ask a friend or family member with a bank account to deposit the coins for you, then transfer the money back to your account via a peer transfer. This works if you trust the person and both of you have accounts at banks that support transfers. Some credit unions are more flexible about coin deposits than large banks, so if you are frustrated with your current bank's policy, switching to a credit union may be worth considering.
What happens when you deposit coins
When you hand coins to a teller, they will either count them by hand or feed them into a coin counter. The machine sorts coins by denomination and displays the total. The teller will then verify the amount, record it in your account, and give you a receipt. The deposit is usually posted to your account immediately, though some banks may hold it for one business day if the amount is unusually large or if you are a new customer.
If there is a discrepancy—the machine counts a different amount than you expected—the teller will recount or run the coins through again. If the coins are damaged, heavily worn, or foreign currency, the bank may refuse to accept them. U.S. coins in normal circulation are almost always accepted, but coins that are bent, corroded, or not U.S. currency will be rejected.
Depositing coins at ATMs and mobile banking
Most ATMs do not accept coin deposits. A few banks have installed special coin-deposit ATMs that can accept rolled coins, but these are uncommon. If your bank has one, it will be clearly labeled, and you can use it 24/7 without waiting for a teller. However, the vast majority of ATMs only accept paper money.
Mobile banking apps and online banking do not allow you to deposit coins directly. You must bring them to a physical branch or use a coin-counting kiosk. If you want to deposit coins without visiting a branch during business hours, a coin-counting machine at a grocery store is your fastest option, though you will pay a fee for the service.
Frequently Asked Questions
Do I have to roll my coins before I deposit them?
No, but rolling them first can speed up the process and may help you avoid a fee. Many banks charge a fee for counting loose coins but waive it if you bring rolled coins. Call your bank to ask about their policy before you go.
What if my coins are old or damaged?
Banks will accept most U.S. coins in normal circulation, even if they are old. Heavily damaged, bent, or corroded coins may be rejected. Foreign coins and coins that are not legal U.S. tender will not be accepted. If a coin is rejected, the teller will tell you why and set it aside.
Can I deposit coins at an ATM?
Most ATMs do not accept coins—only paper money. A few banks have installed special coin-deposit ATMs, but these are rare. Check with your bank to see if they have one. Otherwise, you must visit a teller during business hours or use a coin-counting kiosk.
Will depositing a large amount of coins trigger any reports?
Deposits of $10,000 or more in currency (including coins) trigger a Currency Transaction Report sent to the IRS. This is routine and legal. The bank may ask where the money came from, but they cannot refuse the deposit based on the source alone unless they suspect illegal activity.
What if my bank charges a fee for coin deposits?
Fees vary by bank—some charge nothing, others charge 5 to 10 cents per dollar of coins counted, and some charge a flat fee for deposits over a certain amount. Ask your bank about their fee before you deposit. If the fee is high, you can exchange coins for cash at a teller window and deposit the cash instead, which is usually free.