Yes, you can take pennies to the bank, but most banks will not count them for you

Banks accept pennies as legal tender, but they treat large quantities differently than bills or checks. Most branches will not hand-count loose coins—they expect you to bring them sorted and rolled, or they will charge you a fee to run them through a coin counter. Some banks have stopped accepting coins altogether, so calling ahead matters before you show up with a bag of pennies.

The real question is not whether the bank will take them, but whether it is worth your time and whether your bank charges for the service. A few hundred pennies might cost you more in fees than the pennies are worth.

Key Takeaways

  • Banks accept pennies but typically require them to be rolled in paper coin wrappers or will charge a fee to count them by machine.
  • Some banks have eliminated coin services entirely, so contact your branch before bringing in large quantities of pennies.
  • Coin-counting machines at grocery stores and laundromats usually charge 8 to 12 percent of the total value, which can exceed what your pennies are worth.
  • If your bank charges a fee for coin deposits, rolling the pennies yourself before depositing them usually avoids the charge.
  • You can also exchange pennies for bills at a teller window without depositing them to an account, though some branches limit how much they will exchange at once.

What banks require before accepting pennies

If your bank still accepts coins, they will ask you to bring pennies in paper coin wrappers—the small paper tubes you can buy at most banks for a few cents, or sometimes free. A standard penny wrapper holds 50 pennies and is labeled on the outside. The bank's machine can then process the wrapped rolls quickly without hand-counting.

If you bring loose pennies, the teller will direct you to either roll them yourself or use the bank's coin counter, which usually charges a fee. That fee ranges from 5 to 10 percent of the total value at most banks, though some charge a flat fee instead. A few large banks—including Bank of America and Wells Fargo—have reduced or eliminated coin services at many branches, so you need to check with your specific location.

Smaller banks and credit unions are more likely to still accept coins without a fee, especially if you are a member. Call your branch and ask whether they accept coin deposits and whether there is a charge.

How to roll pennies yourself

Rolling pennies takes time but saves you the fee. You will need paper coin wrappers, which you can buy at your bank, office supply stores, or online. Each wrapper holds 50 pennies and costs less than a dollar for a pack of 25.

Stack 50 pennies in a pile, slide them into the wrapper, and fold the ends closed. Write the total value on the outside if the wrapper does not have a pre-printed line—50 pennies equals 50 cents. Once you have rolled all your pennies, you can deposit them at the teller window or through an ATM that accepts deposits, depending on your bank's setup.

If you have thousands of pennies, rolling them is tedious but still cheaper than paying a coin-counting fee. Some banks will let you drop off unrolled coins and pick up the rolled ones later, though this varies by location.

When coin-counting machines cost more than your pennies are worth

Coin-counting machines at grocery stores, laundromats, and some retail locations charge between 8 and 12 percent of what you deposit. If you have $10 in pennies, the machine might take 80 cents to a dollar. For small amounts, this fee can wipe out most of your value.

These machines are useful if you have a mix of coins and want to convert them to bills quickly, but they are not a good option if you only have pennies and want to keep the full value. Your bank's free or low-cost option is almost always better.

Exchanging pennies for bills without depositing

You can walk into your bank and ask a teller to exchange pennies for bills or larger coins without opening or depositing to an account. This is a straightforward transaction—the teller counts the pennies (or accepts your rolled wrappers) and gives you the equivalent in bills.

Most banks will do this without a fee, but they may limit how much they will exchange at once—some branches cap it at $10 or $20 in coins per transaction. If you have a large amount, ask the teller what their limit is and whether you can do multiple exchanges or come back another day.

This option works well if you just want to convert pennies to cash without depositing them to an account, or if you want to deposit them but your bank charges a fee for coin deposits.

What to do if your bank no longer accepts coins

If your bank has stopped accepting coin deposits, you have a few options. First, try a different branch of the same bank—policies vary by location, and a larger branch may still have coin services. Second, check whether you have a local credit union; many still accept coins from members at no charge.

If neither works, a coin-counting machine is your fastest option, though you will pay the fee. Alternatively, you can spend the pennies gradually—use them at checkout, donate them to a charity collection, or give them to someone who collects coins. Some people also donate large quantities of pennies to schools or nonprofits that use them for fundraising.

Depositing pennies through an ATM

Most ATMs do not accept coins of any kind—they only take bills and checks. A few banks have installed special coin-deposit ATMs, but these are rare and usually only at main branches. Your best bet is to ask your bank whether they have a coin-deposit machine in the lobby that you can use 24/7, separate from the regular ATM.

If your bank has one, you can deposit rolled or loose coins anytime without waiting for a teller. The machine counts them and credits your account immediately. This is the most convenient option if your bank offers it, so ask at your next visit.

Frequently Asked Questions

Do I have to roll pennies before taking them to the bank?

Not always. If your bank has a coin-counting machine, you can deposit loose pennies and pay a fee—usually 5 to 10 percent of the value. If you want to avoid the fee, rolling them yourself is free and takes time but no money. Call your branch to ask whether they charge for unrolled coins.

Can I deposit pennies to my account through a mobile app or ATM?

Most ATMs do not accept coins. Some banks have coin-deposit machines in the lobby that you can use anytime, but these are not standard. Mobile apps cannot process coins. You will need to visit a teller or use a coin machine at your branch.

What if I have $100 in pennies—is it worth taking to the bank?

Yes. Even if your bank charges a 10 percent fee, you would pay $10 and keep $90. Rolling the pennies yourself takes a few hours but costs nothing. If you have the time, rolling is the better choice.

Can I exchange pennies for other coins instead of bills?

Yes. A teller can exchange pennies for nickels, dimes, quarters, or any combination. This works the same way as exchanging for bills—no fee at most banks, though some may have limits on how much they will exchange at once.

What happens if I try to deposit pennies without rolling them?

The teller will either ask you to roll them, direct you to the coin counter (which charges a fee), or refuse the deposit. Policies vary by bank and branch. Calling ahead saves you a wasted trip.