Yes, banks will still take pennies, but the process and willingness varies by bank and by how many you bring
Every U.S. bank is legally required to accept pennies as currency. However, "will accept" and "will make it easy" are different things. Most banks will take pennies if you bring them in a reasonable quantity—a jar or a roll or two. Many will refuse if you show up with five gallons of them. Some banks charge a fee to process large coin deposits. A few have quietly stopped accepting coins altogether, though this is rare and usually temporary during staffing shortages.
The real answer depends on three things: how many pennies you have, which bank you use, and whether you're a customer there. A customer depositing a normal amount usually faces no friction. A non-customer or someone with thousands of pennies may hit a wall.
Key Takeaways
- Banks are legally required to accept pennies, but they can set limits on quantity and may charge fees for processing large amounts.
- Rolled coins (50 pennies per roll) are easier for banks to process than loose coins and often avoid fees entirely.
- Your own bank will almost always accept your pennies if you're a customer; non-customers or very large quantities may face refusal or fees.
- Coin-counting machines at grocery stores and laundromats offer an alternative if your bank refuses, though they typically take a percentage.
- The Federal Reserve does not accept coins directly from the public; coins must go through a bank.
What the law actually says about banks and pennies
The U.S. legal tender law requires that coins be accepted as payment for debts. This applies to banks as much as it applies to a store. A bank cannot legally refuse to accept pennies as a deposit from a customer with an account there. However, the law does not say a bank must accept unlimited quantities, and it does not prohibit fees for processing.
The distinction matters. A bank can refuse to process 10,000 loose pennies without violating the law. It can charge you a fee to count and roll them. It can ask you to come back another day when staff is available. What it cannot do is refuse to accept pennies altogether or refuse to accept a reasonable deposit from one of its own customers.
How to prepare pennies so a bank will take them
The easiest path is to roll your pennies before you go to the bank. A standard coin roll holds 50 pennies and costs nothing—banks give them away. You can ask for rolls at the teller window or order them online if you need many. Rolled coins are faster for the bank to process because staff does not have to count them, and most banks will accept rolled coins from customers with no fee at all.
If you have loose pennies, put them in a bag or container and bring them in. Call your bank first and ask whether they charge a fee for processing loose coins and how many they will accept in one visit. Some banks have a limit of one or two bags per transaction. Others will process whatever you bring but charge 5 to 10 cents per dollar of coin value. A few have coin-counting machines on-site that customers can use for free.
Do not assume the bank will have time to count your coins on the spot. Bring them during a slow time—mid-morning on a Tuesday or Wednesday is usually better than Friday afternoon. If you have more than a few hundred pennies, call ahead and ask when is best to come in.
What happens if your bank refuses
If your bank refuses to take your pennies, ask to speak to a manager and explain that you are a customer requesting a deposit. Most refusals happen because of miscommunication—a teller may have said "we're too busy right now" and the customer heard "we don't take pennies." A manager can usually find a way to process the deposit, even if it means scheduling it for another day.
If the bank still refuses, you have other options. A different branch of the same bank may be more willing. A credit union you belong to will almost certainly take them. A different bank in your area may accept them, even if you do not have an account there—though they may charge a fee for non-customers.
If no bank will take them, a grocery store with a coin-counting machine (usually Coinstar or a similar service) will convert them to cash or a gift card. The machine typically takes 8 to 11 percent of the total value, so 100 dollars in pennies becomes roughly 89 to 92 dollars. This is expensive, but it works when banks refuse.
Why some banks have stopped taking coins temporarily
During 2020 and 2021, several major banks temporarily stopped accepting coin deposits from customers. This was not because of the law or because they wanted to refuse—it was because the Federal Reserve had a coin shortage and banks were rationing their supply. Banks needed coins for their own operations and could not afford to take in more than they were giving out.
These restrictions have mostly lifted, but a few banks still limit coin deposits or charge fees. Call your bank and ask about their current policy. If they still have restrictions, ask when they expect to lift them. Most banks that imposed temporary limits have already removed them.
How to find out your bank's specific policy
The fastest way is to call the branch where you have your account and ask: "Do you accept penny deposits? Is there a fee? Is there a limit on how many I can bring?" Write down the answer. If the teller is unsure, ask to speak to a manager or call back during business hours when a manager is available.
You can also check your bank's website or app—some banks publish their coin deposit policy online. If you cannot find it, a phone call to customer service will get you a clear answer in under five minutes.
Frequently Asked Questions
Can I deposit pennies at a bank I don't have an account with?
Most banks will refuse if you are not a customer. Some will accept non-customer deposits but charge a fee—often 10 to 15 percent of the coin value. Your best bet is to open an account at a bank or credit union first, then deposit the pennies as a customer.
Will the Federal Reserve take my pennies directly?
No. The Federal Reserve does not accept coins from the public. All coins must go through a bank or credit union. If you have an account at a bank, that bank can send coins to the Federal Reserve on your behalf as part of your deposit.
What if I have thousands of pennies?
Call your bank and explain the situation. Ask whether they can process them over multiple visits or whether they have a coin-counting machine you can use. If your bank refuses, a Coinstar machine at a grocery store will convert them to cash, though it takes a percentage.
Do I have to roll the pennies myself?
No, but it makes the bank's job easier and often avoids fees. If you bring loose pennies, the bank will count them, but this takes longer and some banks charge for the service. Rolled coins are almost always free to deposit.
Can a bank refuse pennies if I'm a customer?
A bank cannot refuse to accept a reasonable deposit of pennies from one of its own customers. It can refuse if the amount is extremely large or if it does not have staff available that day, but it must find a way to process the deposit eventually.