Yes, banks take coins, but the process and limits depend on the bank and how the coins arrive
Most banks will accept coins from customers, but they rarely take them loose in a bag or jar. Banks expect coins to arrive either already rolled in paper wrappers (which you can buy at the bank or get free from some retailers) or sorted by denomination in a coin-counting machine. Some banks charge a fee if you bring unrolled coins, and some have limits on how many coins they will accept in a single deposit. A few banks have stopped accepting coins altogether, so calling ahead is worth the time.
The rules vary widely by bank and by branch, so what one location accepts may differ from another location of the same bank. Credit unions tend to be more flexible than large national banks. If your bank turns you away, you have other options: grocery stores with coin-counting machines, laundromats, arcades, and some retail chains will exchange coins for cash or store credit.
Key Takeaways
- Most banks accept rolled coins or coins run through their coin-counting machine, but loose coins in a bag usually require a fee or will be refused.
- Large national banks often have stricter coin policies than credit unions or smaller regional banks.
- Some banks limit the number of coins you can deposit per transaction, typically between $50 and $500 in coin value.
- Grocery stores, laundromats, and retail chains with coin-counting machines offer alternatives if your bank will not take your coins.
- Coin rolls are available free or cheap at most banks, and rolling coins yourself takes about 15 to 30 minutes depending on volume.
What banks actually require when you bring coins
If you want to deposit coins at a bank, the standard expectation is that they arrive in paper rolls. A penny roll holds 50 pennies ($0.50), a nickel roll holds 40 nickels ($2.00), a dime roll holds 50 dimes ($5.00), and a quarter roll holds 40 quarters ($10.00). You can buy empty rolls at most banks for a small fee (usually under $1 for a pack of 50 rolls) or sometimes free if you ask. Some banks will hand you rolls for free if you are a customer.
If you bring unrolled coins, expect one of three outcomes: the bank will refuse them, the bank will charge you a fee to count and roll them (typically $5 to $10 depending on volume), or the bank will accept them but require you to use their coin-counting machine first. A few banks have coin-counting machines on the premises that customers can use for free; others charge $0.05 to $0.10 per dollar of coins counted.
Some banks also set a limit on how many coins a single customer can deposit in one visit. Chase, for example, has limits that vary by branch but often cap coin deposits at $500 per transaction. Bank of America's policy varies by location. Credit unions rarely enforce strict limits, though they may ask you to call ahead if you are bringing in more than a few dollars' worth.
Banks that have stopped taking coins
A small number of banks have closed their coin-acceptance programs entirely, usually citing staffing and processing costs. Citibank stopped accepting loose coins at most branches around 2020. Some regional banks have done the same. The trend accelerated during the COVID-19 pandemic when many branches reduced in-person services.
Before you make a trip to your bank with coins, call the branch directly and ask whether they accept coin deposits and what form they need to be in. A five-minute phone call saves you a wasted trip. If your bank has refused coins in the past, ask whether the policy has changed, since some banks have reversed course as coin shortages eased.
How to roll coins yourself
Rolling coins by hand takes time but costs nothing if you already have the rolls. Lay out a roll on a flat surface, fill it with coins of one denomination until it is full (the roll will feel snug but not overstuffed), and fold the ends closed. Most rolls have a seam you can fold over to seal them. A stack of 50 pennies or dimes takes about one minute to roll; a stack of 40 nickels or quarters takes slightly less time.
If you have a large volume of coins, a coin-rolling machine can speed up the work. These machines cost $20 to $50 for a basic model and automatically sort and roll coins by denomination. Some libraries and community centers have coin-rolling machines available for public use, though you should call ahead to confirm. Coin-sorting trays (which have slots for each denomination) cost $5 to $15 and make hand-rolling faster by keeping coins organized.
Alternatives if your bank will not take coins
Grocery stores with coin-counting machines are the most common alternative. Coinstar machines are installed in most supermarkets and some pharmacies. They charge a fee (typically 10 to 12 percent of the total value) to count and convert coins to cash, though some machines offer free conversion if you choose to receive the value as a gift card for retailers like Amazon or iTunes instead of cash.
Laundromats, arcades, and casinos sometimes have change machines that will exchange coins for bills at face value, though availability varies. Some retail chains like Walmart and Target have customer service desks that will exchange coins for cash if you are making a purchase, though policies differ by location. Local banks and credit unions that are not your primary bank may accept coins from non-customers for a small fee.
If you have a very large quantity of coins, some coin dealers and numismatic shops will buy them at face value or slightly above, depending on the age and condition of the coins. This is worth exploring if you have rolls of older coins or rare denominations.
Depositing coins from a business or register
If you are depositing coins as part of a business deposit (from a cash register, vending machine, or laundromat), banks often have different rules than they do for personal deposits. Many banks require business coin deposits to arrive pre-rolled or in a coin bag with a weight or count label. Some banks will not accept business coin deposits at all and will direct you to a coin-counting service or armored car company.
If you run a business that handles significant coin volume, ask your bank about a commercial coin deposit program. Some banks offer this service for a monthly fee, and they will pick up coins from your location or accept them at a dedicated counter. Alternatively, services like Brinks or Loomis specialize in coin collection and can deposit the funds directly into your business account.
What happens to coins after you deposit them
Once you deposit rolled coins at a bank, the bank counts them (usually by machine) and credits your account. The coins themselves are sorted, counted again, and either returned to circulation through the bank's cash operations or sent to a Federal Reserve processing center. You will not see the same coins again; the bank treats coin deposits the same way it treats cash deposits—they become part of the bank's reserve and are distributed as needed.
If a coin is damaged, counterfeit, or foreign, the bank may refuse it or set it aside. This is rare with modern U.S. coins, but if you are depositing very old coins or coins in poor condition, the bank may ask you to verify their authenticity or value before accepting them.
Frequently Asked Questions
Can I deposit coins without rolling them first?
Most banks will not accept unrolled coins, or they will charge a fee ($5 to $10) to count and roll them for you. Some banks have coin-counting machines on-site that you can use for free or for a small fee. Call your bank branch to ask what they require before you bring coins in.
Do I need to be a customer of the bank to deposit coins?
Most banks require you to have an account with them to deposit coins. Some banks will exchange coins for cash at the teller window for non-customers, but this is rare. Credit unions are sometimes more flexible. Call ahead to ask whether your bank accepts coin deposits from non-customers.
What if I have a lot of coins—like $500 or more?
Call your bank branch first and let them know the amount and whether the coins are rolled. Some banks will ask you to come in during off-peak hours or to schedule an appointment. If your bank refuses, a Coinstar machine or a local coin dealer can handle large volumes, though Coinstar charges a fee.
Are foreign coins accepted by banks?
Most banks do not accept foreign coins in their regular deposit process. Some banks have a foreign currency exchange service, but they typically handle paper currency, not coins. A coin dealer or currency exchange service is your best option for foreign coins.
What if the bank says my coins are counterfeit?
Counterfeit U.S. coins are extremely rare in everyday circulation. If a bank refuses a coin and says it is counterfeit, ask to see the specific issue and request a written explanation. You can also take the coin to a coin dealer or the U.S. Secret Service for verification, though this is usually unnecessary for coins in normal condition.