Yes, banks take pennies, but the process depends on how many you have and which bank you use
Your bank will accept pennies as a deposit. Most banks have no minimum or maximum on the number of coins you can deposit, and they will not charge you a fee to do it. However, the method matters: loose pennies dumped at a teller window take time to count and may slow down the line, while rolled coins move faster. Some banks have coin-counting machines on-site; others send coins to a processing center. A few banks have started discouraging large coin deposits or charging fees, so it is worth asking your branch what their current policy is before you show up with a bucket.
The short answer: yes, your bank still takes pennies. But whether it is fast, free, and convenient depends on how you bring them in and how many you have.
Key Takeaways
- Banks accept pennies as deposits with no legal limit, and most charge no fee for standard coin deposits.
- Rolled coins (40 pennies per roll) are processed faster than loose coins and are preferred by most tellers.
- Some banks have coin-counting machines; others send coins to a third-party processor, which can add a few business days to your deposit.
- A small number of banks now charge fees for large coin deposits or discourage them entirely, so call ahead if you have more than a few rolls.
How banks process coin deposits
When you deposit coins at a teller window, the teller either counts them by hand or runs them through a coin counter. If your bank has an on-site machine, the count happens immediately and the coins are credited to your account that day. If your bank does not have a machine, the coins go into a bag and are sent to a coin processing center—usually operated by a third party like Brinks or Loomis—where they are counted, wrapped, and sorted. This process typically takes three to five business days, though your bank may credit your account before the coins physically arrive at the processor.
Rolled coins speed this up significantly. When you bring coins already rolled in paper sleeves (40 pennies per standard roll), the teller can accept them without counting, and they are credited to your account immediately. The bank verifies the count later when the rolls are opened at the processing center. If a roll is short, the bank will deduct the difference from your account, so rolling accurately matters. Most tellers prefer rolled coins because they reduce the time spent at the window and lower the risk of counting errors.
What to do with large quantities of pennies
If you have more than a few rolls of pennies—say, 50 rolls or more—call your branch first. Some banks will ask you to bring them in at a specific time so staff can handle them without disrupting regular service. Others have limits on how many coins they will accept in a single deposit. A very small number of banks now charge fees for large coin deposits (typically $5 to $10 for deposits over $50 in coins), though this is still uncommon. The fee structure varies by bank, so asking ahead prevents a wasted trip.
If your bank discourages large coin deposits or charges a fee, you have other options. Coin-counting kiosks at grocery stores and retail locations (like Coinstar machines) will count and convert your coins to cash or a gift card, though they charge a percentage fee—usually 10 to 12 percent. You can also roll the coins yourself and deposit them gradually over time, or ask a different bank in your area about their coin deposit policy. Some credit unions are more flexible with coin deposits than large national banks, so that is worth checking if you belong to one.
Rolling coins yourself versus bringing them loose
Rolling coins takes time but saves the bank work and gets your money credited faster. Standard coin rolls are available free at most banks—just ask a teller. A penny roll holds 40 coins and should weigh about 113 grams (4 ounces). If you are depositing loose coins, put them in a bag or container so they do not spill, and be prepared for the teller to ask you to wait while they are counted or bagged for processing. Loose coins also carry a higher risk of miscounting, which could delay your deposit or result in a discrepancy.
Some banks now offer coin-sorting apps or partnerships with third-party services that let you schedule a pickup for large quantities, but this is rare and usually only available at larger branches or in major cities. Check with your bank's website or call ahead to see if this option exists in your area. If your bank does not offer it, rolling the coins yourself remains the fastest and most reliable method.
Banks that have stopped accepting coins or restricted them
During the COVID-19 pandemic, several major banks temporarily stopped accepting coin deposits due to staffing and processing center closures. Most have resumed accepting coins, but a handful of smaller banks or credit unions still have restrictions. Before you make a trip, call your branch and confirm they are accepting coin deposits. If your bank has stopped, you can deposit coins at a different bank (you do not have to be a customer), use a Coinstar machine, or exchange them for bills at a retail store that has a cash register.
Some banks that have resumed coin deposits have added new requirements, such as requiring coins to be rolled or limiting the amount you can deposit per transaction. These policies vary by branch and by institution, so the only way to know your bank's current stance is to ask directly. Do not assume that because your bank accepted coins last year, they still do today.
Depositing coins from other countries
U.S. banks do not accept foreign coins as deposits. If you have pennies or other coins from another country, you cannot deposit them at your bank. Some banks have a currency exchange service and will exchange foreign bills, but coins are almost never accepted. Your options are to keep them as collectibles, donate them to a charity that collects foreign currency, or try to exchange them at a currency exchange service or travel agency before you leave that country.
If you are returning from travel and have foreign coins, ask your bank whether they offer any exchange service before you assume they will not help. A few larger banks do have coin exchange programs, though they may charge a fee or require a minimum amount. Otherwise, travel agencies and currency exchange shops are your best bet for converting foreign coins back to U.S. currency.
Frequently Asked Questions
Can I deposit pennies at an ATM?
No. ATMs only accept bills, not coins. You must deposit coins at a teller window or through a coin-counting machine at your bank or a retail location.
What if my bank says they will not take my pennies?
Ask if they have a limit or a fee. If they refuse entirely, you can deposit coins at a different bank (you do not need an account there), use a Coinstar machine, or exchange them for bills at a store with a cash register.
Do I have to roll coins before depositing them?
No, but rolled coins are processed faster and credited to your account immediately, while loose coins may take three to five business days. Rolling them is optional but recommended if you have more than a few coins.
Will the bank charge me to deposit pennies?
Most banks charge no fee for coin deposits. A small number charge fees for very large deposits (over $50 in coins), so call ahead if you have a large quantity.
What happens if I roll coins and one roll is short?
The bank will deduct the missing amount from your account when they open and count the roll. Roll coins accurately to avoid this.