Yes, banks will take pennies, but the process depends on how many you have and which bank you use
Every bank in the United States accepts pennies as legal tender. You can walk into any branch with a handful of pennies and deposit them into your account. The catch is that most banks no longer count loose coins by hand — they run them through a machine, and that machine has limits on how many coins it will process at once, how they need to be sorted, and whether the bank charges you a fee for the service.
If you have a small amount of pennies — say, a jar with a few dollars' worth — your bank will take them. If you have hundreds of dollars in loose pennies, the bank may ask you to roll them first, send you to a coin-counting machine, or charge you a fee. Some banks have stopped accepting loose coins altogether and will only take rolled coins or direct you to a self-service machine.
Key Takeaways
- All banks accept pennies as legal tender, but most require them to be rolled or run through a machine rather than counted by hand.
- Banks typically charge a fee for coin deposits if the amount is large or if you bring loose coins instead of rolls.
- Coin-counting machines at grocery stores and laundromats often take a percentage of the total (usually 8 to 10 percent) but give you cash or a gift card immediately.
- If your bank no longer accepts loose coins, you can roll them yourself, use a coin-counting machine, or ask the bank which branches still handle coin deposits.
What happens when you bring pennies to your bank
When you arrive at the bank with pennies, the teller will either accept them directly or direct you to a coin-counting machine on the bank's premises. If the bank has a machine, you pour your coins in, the machine counts them, and the total is added to your account or given to you as cash. This is free at most banks if you are a customer.
If you bring rolled coins — pennies wrapped in paper rolls of 50 coins per roll — most banks will accept them without a fee and without running them through a machine. The teller will spot-check a roll or two to make sure they are full and genuine, then deposit them. Rolling coins yourself takes time but often avoids fees and machine lines.
If you bring a large amount of loose coins and the bank does not have a machine, or if the machine is full, the teller may ask you to come back another time, roll the coins yourself, or use an external coin-counting service. Some banks charge a percentage fee (typically 5 to 10 percent of the total) for processing large loose-coin deposits.
Banks that have stopped accepting loose coins
A growing number of banks have stopped accepting loose coins from customers entirely. Chase, Bank of America, and Wells Fargo have all reduced or eliminated loose-coin acceptance at many branches, though policies vary by location. These banks typically direct customers to coin-counting machines, ask them to roll coins, or suggest they use a third-party service.
Before you bring a large amount of loose pennies to your bank, call ahead and ask whether your specific branch accepts them. The policy can differ between branches of the same bank, and it may have changed since you last deposited coins. If your bank no longer takes loose coins, ask which nearby branches still do, or ask about rolling coins as an alternative.
Rolling pennies yourself as an alternative
If your bank will not accept loose coins or charges a fee, rolling them yourself is free and often faster than waiting in line. A standard penny roll holds 50 pennies and is worth $0.50. You can buy empty coin rolls at most banks for a small fee (usually 25 cents to $1 per pack), at office supply stores, or online.
Rolling 50 pennies takes about two to three minutes once you get the rhythm. If you have several jars of pennies, rolling them in batches while watching television or listening to a podcast makes the work less tedious. Once rolled, take them to your bank and deposit them like any other rolled coins — most tellers will accept them without question.
Coin-counting machines at stores and laundromats
Grocery stores, laundromats, and some retail chains have coin-counting machines that accept pennies along with other coins. These machines count your coins and either give you cash or a gift card for the store. The catch is that most machines take a percentage of the total — typically 8 to 10 percent — as a fee.
If you have $10 in pennies and use a coin-counting machine that charges 10 percent, you will receive $9 in cash or store credit. For small amounts, this fee is not a big deal. For large amounts, it adds up quickly. If you have a choice between a bank machine (free) and a store machine (8 to 10 percent fee), the bank is the better option.
Some banks partner with Coinstar, the largest coin-counting service, and offer free counting to their customers. Check your bank's website or call your branch to see if this is an option for you.
What to do if your bank refuses pennies
If your bank refuses to take your pennies and you do not want to roll them or pay a fee, you have several options. First, ask the teller which other branches in your area still accept loose coins — some branches maintain the service even if others have stopped. Second, ask if the bank offers a free coin-counting machine or a partnership with Coinstar.
If none of those work, you can roll the coins yourself and deposit them, use a store coin-counting machine (and accept the fee), or donate the pennies to a charity or cause. Some people keep jars of pennies for years and eventually donate them rather than deal with the deposit process. That is a valid choice if the hassle outweighs the value.
Frequently Asked Questions
Can I deposit pennies without rolling them?
Yes, if your bank has a coin-counting machine or accepts loose coins. Call your branch first to confirm. If the bank no longer accepts loose coins, rolling them yourself or using a store coin-counting machine are your options.
Do banks charge a fee to deposit pennies?
Most banks do not charge a fee if you are a customer and the amount is reasonable. However, some banks charge a percentage fee for large loose-coin deposits, and store coin-counting machines typically charge 8 to 10 percent. Rolling coins yourself avoids all fees.
What if I have hundreds of dollars in pennies?
Call your bank ahead of time and explain the amount. Ask whether they can process it, whether you should roll it, and whether a fee applies. For very large amounts, rolling the coins yourself or spreading deposits across multiple visits may be necessary.
Are pennies still legal tender?
Yes, pennies are legal tender and will always be accepted by banks. The U.S. Mint still produces them, though in smaller quantities than in the past. Banks accept them, but the method of deposit — loose, rolled, or machine-counted — varies by bank.
Can I exchange pennies for other coins or bills?
Yes. Any bank teller can exchange pennies for other denominations or for cash. You do not have to deposit them into an account; you can simply ask to exchange them at the counter, though some banks may ask you to be a customer.