Yes, you can deposit coins at most banks, but the process and any fees depend on your account type and the bank's policies

Most banks accept coin deposits from their customers, but they do not treat coins the same way they treat paper money. Some banks will count and deposit coins for free if you are an account holder. Others charge a fee, require the coins to be rolled in paper sleeves, or direct you to a coin-counting machine instead. A few banks have stopped accepting loose coins altogether. The fastest way to know your bank's exact policy is to call your branch or check your account agreement online.

The reason banks vary on coins is straightforward: counting loose change takes time and equipment. A teller can count bills in seconds. Coins require either a machine or manual counting, which costs the bank money. That is why some banks pass the cost to you, while others absorb it as a service to account holders.

Key Takeaways

  • Account holders at most banks can deposit coins for free, but you should confirm your bank's policy before you arrive with a bag of change.
  • Some banks require coins to be rolled in standard paper sleeves (pennies in rolls of 50, nickels in rolls of 40, dimes in rolls of 50, quarters in rolls of 40) before deposit.
  • Banks that do accept loose coins often use a coin-counting machine, which may charge a fee to non-account holders or charge all customers a percentage of the total.
  • If your bank does not accept coins or charges a high fee, grocery stores, laundromats, and dedicated coin-counting services are alternatives.
  • Rolled coins are faster to process than loose coins and are less likely to be rejected at deposit.

How banks handle loose coins versus rolled coins

If you bring loose coins to the teller, the bank will either count them by hand, run them through a machine, or ask you to use a self-service coin counter in the lobby. Hand counting is rare now because it is slow. Most branches have a coin-counting machine that sorts and counts automatically. The machine reads the size and weight of each coin, separates them by denomination, and displays the total.

Rolled coins move faster. When coins arrive in standard paper rolls, the teller can verify the count visually and deposit them without running them through a machine. This takes seconds instead of minutes. If you roll your own coins, use the standard sizes: pennies in rolls of 50, nickels in rolls of 40, dimes in rolls of 50, and quarters in rolls of 40. Your bank may sell you empty rolls for a few cents, or you can buy them at office supply stores.

Some banks prefer rolled coins so strongly that they charge a fee for loose coins but not for rolled ones. Others charge the same fee regardless. A few will not accept loose coins at all and will ask you to roll them first.

Fees and when they explore

Account holders at most major banks—including Bank of America, Wells Fargo, Chase, and Citibank—can deposit coins for free, whether loose or rolled. However, policies vary by branch and account type. Some banks charge a fee only to non-account holders. Others charge all customers a percentage of the total (typically 5 to 10 percent) when using a coin-counting machine.

Credit unions often have more lenient policies than banks. Many credit unions accept coins from members for free and do not charge non-members either, though this varies. Community banks are also more likely to accept coins without a fee, especially if you maintain a regular account with them.

Before you bring in a large amount of change, call your branch and ask: "Do you charge a fee to deposit coins?" and "Do you prefer rolled or loose coins?" The answer may save you a trip or an unexpected charge.

What to do if your bank does not accept coins

If your bank charges a high fee or refuses coins altogether, you have several alternatives. Grocery stores with customer service desks often have coin-counting machines and will exchange coins for bills on the spot, usually for free or a small fee. Coinstar machines, found in grocery stores and pharmacies nationwide, count coins and dispense a voucher you can cash at the register. Coinstar charges a fee (typically 10 to 12 percent of the total), but you get cash when ready without a bank account.

Laundromats sometimes have change machines that convert coins to bills. Some banks that do not accept deposits will still exchange coins for bills at the teller window—you hand over the coins, they count them, and they give you bills in return. This is not a deposit, so it does not go into your account, but it converts the coins to a form you can use or deposit elsewhere.

If you have a large amount of change, rolling it yourself and depositing it at a bank that accepts rolled coins free of charge is usually the cheapest option. The time investment in rolling is offset by avoiding a percentage fee.

How to prepare coins for deposit

If your bank accepts rolled coins, you can roll them yourself using empty paper sleeves. Separate coins by denomination first. Stack each type in piles of the correct count, then slide them into the paper sleeve and fold the ends closed. Some people use a coin roller—a plastic device that holds the coins and the sleeve while you roll—which makes the process faster and neater.

If you are depositing loose coins, bring them in a bag or container that is straightforward to pour. Avoid dumping a large pile of loose coins on the counter; use a bag so the teller can pour them into the machine. If you are using a self-service coin counter, follow the on-screen instructions. Most machines accept one coin at a time or a handful at once, depending on the model.

Write down the total amount before you arrive, if possible. If you are rolling coins yourself, count each roll as you go. This way, if the machine count differs from your count, you will know where the discrepancy is.

Depositing coins from a business or large amount

If you are depositing coins as part of a business—a laundromat, vending machine, arcade, or retail register—most banks have a separate process. You may need to use a commercial deposit bag, which is larger and designed for high-volume coin deposits. Some banks require business customers to pre-sort coins by denomination and place them in separate bags. Call your business banking department to ask about their coin deposit procedure.

For very large amounts of change, some banks will arrange a special pickup or ask you to bring the coins in during off-peak hours so the teller has time to process them. If you are depositing more than a few hundred dollars in coins, contact your branch in advance and ask how they prefer to handle it.

Frequently Asked Questions

Can I deposit coins without a bank account?

Most banks will not deposit coins for non-account holders. However, some will exchange coins for bills at the teller window. Coinstar machines and grocery store customer service desks will count coins and give you cash or a voucher without requiring an account.

Do I have to roll coins before I deposit them?

No, but rolling them first usually speeds up the process and may avoid a fee. Check your bank's policy. Some banks prefer rolled coins and charge a fee for loose coins, while others accept both at no charge.

What if the bank's coin counter shows a different total than I counted?

Coin-counting machines are generally accurate, but they can occasionally misread a damaged or foreign coin. If the difference is small, the bank will usually deposit the amount the machine counted. If the difference is large, ask the teller to recount or check for coins the machine may have rejected.

Can I deposit coins at an ATM?

No. ATMs accept only paper bills. You must use a teller or a coin-counting machine inside the bank or at a retail location.

How long does it take to deposit coins?

Rolled coins take a few minutes. Loose coins can take 10 to 20 minutes, depending on the amount and whether the bank uses a machine or counts by hand. If the branch is busy, you may wait longer.