Yes, you can deposit loose change at most banks, but the process and fees vary widely
Most banks accept loose coins for deposit into your account. However, they rarely count the coins for you—you'll either need to count and roll them yourself, use a coin-counting machine, or pay a fee for the bank to do it. Some banks waive fees for customers with certain account types; others charge a percentage of the total. A few banks have stopped accepting coins altogether, so calling ahead saves a wasted trip.
The real cost is your time. Counting and rolling 500 coins takes 30 to 45 minutes. A coin-counting machine at a grocery store or laundromat charges 8 to 12 percent of the value. Your bank's coin-counting fee typically ranges from 5 to 10 percent, though some accounts include it free. If you have $50 in loose change and pay 10 percent, you lose $5.
Key Takeaways
- Most banks accept loose coins for deposit, but they will not count them for free unless you roll them yourself or have a premium account.
- Banks that do count coins charge between 5 and 10 percent of the total value, though some waive the fee for checking or savings account holders.
- Coin-counting machines at grocery stores and laundromats charge 8 to 12 percent and are often faster than waiting for bank processing.
- Some banks no longer accept loose coins at all, so call your branch before bringing in a large amount.
- Rolling coins yourself costs nothing but takes 30 to 45 minutes for every 500 coins.
What banks charge to count your coins
Fees depend on your bank and your account type. Chase, Bank of America, and Wells Fargo all accept rolled coins free and loose coins for a fee—typically 5 to 10 percent of the value. Some branches waive the fee for customers with premium checking accounts or high balances. Credit unions often have lower fees or waive them entirely for members, so if you belong to one, ask before you roll.
A few large banks, including Citibank and some regional branches, have stopped accepting loose coins altogether. They will accept rolled coins only. Call your branch directly to confirm their current policy—it can change by location and may have shifted since you last deposited coins.
The fee is calculated on the total value, not the number of coins. If you have $100 in loose pennies, dimes, and quarters, and your bank charges 8 percent, you pay $8 to deposit it. That same $100 rolled costs nothing.
Rolling coins yourself versus using a machine
Coin rolls are free at most banks—you can ask for them at the teller window or grab them from the lobby. Standard rolls hold 50 pennies, 40 nickels, 50 dimes, or 40 quarters. Rolling takes time but costs nothing. If you have $20 in loose change, rolling takes about 10 minutes and saves you $1 to $2 in fees.
Coin-counting machines are faster but more expensive. Grocery stores, laundromats, and arcades often have them. You dump your coins in, the machine counts them, and you get a receipt to exchange for cash or a store gift card. The fee is usually 8 to 12 percent. A $50 deposit costs $4 to $6. Some machines give you a receipt for cash at the register instead of coins back, which is faster than waiting for a teller.
If speed matters more than cost, a machine is worth it. If you have time and want to keep every dollar, roll them yourself.
How to prepare loose coins for deposit
If you plan to roll them, sort by denomination first. Grab a handful of pennies, count to 50, and roll. Repeat for nickels (40), dimes (50), and quarters (40). Use the paper rolls the bank gives you—they're designed to hold exactly the right number. Tape or fold the end closed so coins don't spill during transport.
If your bank counts loose coins, put them in a bag or container and bring them in. Don't dump loose coins directly on the counter—bring them in a sealed bag or envelope so they don't roll across the floor. Tell the teller you want them counted and deposited, and ask about the fee upfront. Some banks require you to fill out a deposit slip with the amount you estimate; others count first and adjust the slip afterward.
For very large amounts—more than $500 in coins—call ahead. Some branches ask you to schedule a time so a teller can count without holding up the line. A few banks ask you to use a coin-counting machine first and bring a receipt.
Banks that no longer accept loose coins
Citibank stopped accepting loose coins at most branches in 2021. Some regional banks and credit unions have done the same. The stated reason is efficiency—loose coins slow down tellers and create handling costs. If your bank is one of them, you have three options: roll the coins yourself, use a coin-counting machine, or ask whether they accept rolled coins only.
Call your branch before you go. Ask specifically: "Do you accept loose coins for deposit?" If the answer is no, ask whether rolled coins are accepted and whether they charge a fee for that. Some banks that reject loose coins still take rolled coins free.
Depositing coins from a different currency
U.S. banks do not accept foreign coins. If you have coins from another country, you cannot deposit them at a bank. Some coin dealers and currency exchanges buy foreign coins, but they pay based on metal content or collector value, not face value. A Canadian dime is worth roughly 8 cents in U.S. currency, not 10 cents.
If you have a small amount of foreign coins, a travel money exchange service may take them, but most charge a fee or offer a poor rate. Your best option is to keep them for a future trip or donate them to a charity that collects foreign currency.
What happens if you deposit a large amount of coins
Banks report cash deposits over $10,000 to the IRS on a form called a Currency Transaction Report (CTR). This is routine and legal—it does not mean you are under investigation. The bank is required to file it, not to question you. If you deposit $15,000 in coins, the bank files a CTR. That is all.
However, if a bank suspects a pattern of deposits designed to avoid the $10,000 reporting threshold—for example, depositing $9,500 in coins every week—they may file a Suspicious Activity Report (SAR). This is rare for a single large deposit. If you have a legitimate reason for the coins (a business that takes cash, a collection you are liquidating), you can simply tell the teller. No explanation is required, but it can prevent confusion.
Frequently Asked Questions
Do I have to roll coins before depositing them?
No, but rolling them saves you money. If your bank charges a fee to count loose coins, rolling them yourself costs nothing. If your bank counts them free or you have a premium account that waives the fee, loose coins are fine.
Can I deposit coins at an ATM?
No. ATMs accept bills only. You must go to a teller window to deposit coins. Some banks have coin deposit machines in the lobby, but these are rare and usually only for customers with certain account types.
What if my bank charges a fee but I have a savings account, not checking?
Fees vary by account type. Some banks waive coin-counting fees for any account holder; others only for checking or premium accounts. Call your branch and ask whether your specific account type qualifies for a waived fee.
Can I exchange loose coins for bills at the bank without depositing?
Yes. You can ask a teller to exchange coins for bills without opening a deposit. They will count the coins and give you the equivalent in cash. Some branches may ask you to be a customer, but most will do this for anyone.
How long does it take for a coin deposit to show up in my account?
If you deposit rolled coins, they post the same day or next business day. If the bank counts loose coins, it may take one to two business days because the teller has to count them first. Ask the teller for the timeline when you deposit.