Banks will take loose change, but the process and fees depend on the bank and how much you have
Most banks accept loose coins as deposits into your account. You can walk in with a handful of pennies, nickels, dimes, and quarters, and the teller will count them and add the total to your account. However, some banks charge a fee for this service, some require a minimum amount, and a few have stopped accepting coins altogether. The specifics vary by bank and by branch, so calling ahead saves you a trip.
If you have a large volume of coins — say, several pounds or more — many banks will ask you to use a coin-counting machine first, either at their branch or at a retail partner. Some banks own coin-counting machines on-site; others partner with Coinstar or similar services. A few will still hand-count coins for you at no charge, but this is becoming less common as labor costs rise.
Key Takeaways
- Most banks accept loose coins as regular deposits, but fees and minimums vary by institution.
- Large quantities of coins may require you to use a coin-counting machine before depositing, or the bank may charge a handling fee.
- Some banks have stopped accepting coins entirely, so confirm your bank's policy before you arrive with a bag of change.
- Retail coin-counting machines (like Coinstar) charge a percentage fee, typically 8 to 12 percent, so depositing at your bank is usually cheaper if they accept coins for free.
What happens when you bring loose coins to the bank
When you deposit coins at a bank branch, the teller will either count them by hand or direct you to a coin-counting machine. If the teller counts them, they will verify the total, record it on your deposit slip, and credit your account. The process takes a few minutes for small amounts and longer for large ones.
If the bank has an on-site coin-counting machine, you may be asked to use it yourself. These machines are usually free for account holders. You pour the coins in, the machine counts them, and it prints a receipt showing the total. You then take the receipt to the teller, who deposits the amount into your account.
Some banks charge a fee for coin deposits if the amount is large or if you are not an account holder. Chase, for example, charges non-customers a fee but typically accepts coins free for customers. Bank of America and Wells Fargo policies vary by branch. Call your specific branch to ask about their coin policy before you go.
Banks that have stopped accepting coins
A small number of banks have stopped accepting coin deposits entirely, citing labor costs and the shift toward digital payments. If your bank has a "coins not accepted" policy, you will need to use an alternative method to convert your coins to cash or deposit them.
Before assuming your bank has stopped, ask a teller or call the branch directly. Policies can differ between branches of the same bank, and some branches may have resumed coin acceptance after pandemic-related closures. The only way to know for certain is to ask.
Using a coin-counting machine at a retail store
Coinstar and similar coin-counting machines are located in grocery stores, pharmacies, and other retail locations. You pour your coins into the machine, it counts them, and it prints a receipt. You can then take the receipt to customer service and receive cash, or in some cases, convert the amount to a gift card or donation.
The catch is the fee. Coinstar charges between 8 and 12 percent of the total value of your coins. If you have $100 in coins, you might receive $88 to $92 in cash. Some Coinstar machines offer a no-fee option if you choose a gift card to a participating retailer instead of cash, but this only works if you want to spend the money at that store.
If your bank accepts coins for free, depositing there is almost always cheaper than using a retail coin-counting machine. The fee adds up quickly on large amounts of change.
Depositing coins without going to the bank
If you cannot visit a branch in person, some banks allow you to deposit coins through a mail-in envelope or by dropping coins in an ATM. However, most ATMs do not accept coins — they only dispense bills. Mail-in coin deposits are rare and usually require special arrangements with your bank.
Your best option for remote deposit is to use a retail coin-counting machine, accept the fee, and deposit the cash into your account online or at an ATM. Alternatively, ask a trusted friend or family member to deposit the coins on your behalf if they have an account at your bank.
What to do if your bank refuses coins
If your bank will not accept your coins, you have several options. The first is to find a different bank branch in your area that does accept coins — policies vary by location. The second is to use a retail coin-counting machine, despite the fee. The third is to spend the coins directly at stores that accept cash.
Some credit unions are more flexible about coin deposits than large banks, so if you are a member of a credit union, ask them about their policy. You may also find that a smaller community bank is more willing to hand-count coins than a national chain.
How much loose change is too much to deposit
There is no legal limit on how much loose change you can deposit into your account. However, banks may ask you to use a coin-counting machine if the amount is very large — typically more than a few pounds of coins. This is a practical measure, not a rule designed to stop you.
If you have collected coins for years and have a large volume, call your bank in advance and ask how they prefer you to handle it. Some branches will schedule a time for you to come in, or they may ask you to pre-sort the coins by denomination. A few may ask you to use a retail coin-counting machine first and then deposit the cash.
Frequently Asked Questions
Can I deposit coins at an ATM?
Most ATMs do not accept coins — they only dispense bills and accept checks or cards. Some banks have special coin deposit envelopes or machines at certain branches, but this is uncommon. Call your bank to ask if any branch near you has a coin-accepting ATM.
Will the bank charge me a fee for depositing coins?
Most banks do not charge account holders a fee for coin deposits. However, non-customers may be charged, and some banks charge a fee if the amount is very large or if the coins are not rolled. Ask your branch about their specific policy.
What if I have rolled coins instead of loose change?
Rolled coins are easier for banks to handle and are less likely to trigger a fee or a request to use a coin-counting machine. Many banks prefer rolled coins because they can verify the count without opening each roll. If you have time, rolling your coins before you go can speed up the deposit.
Can I exchange coins for bills at the bank?
Yes. You can ask the teller to exchange your coins for bills without depositing them into an account. This is a standard service at most banks, and there is usually no fee. However, you will need to be an account holder or have a relationship with the bank.
Is it better to use Coinstar or deposit at my bank?
If your bank accepts coins for free, depositing there is almost always better. Coinstar charges 8 to 12 percent, which adds up quickly. Use Coinstar only if your bank refuses coins or if you need cash immediately and cannot visit a branch.