While the prevalence of coin-counting machines at banks has declined, especially at large national banks, you still have options for exchanging your loose change.
Here’s a breakdown:
- Some banks and credit unions still offer coin counting machines , especially local or community banks and credit unions.
- Most banks, however, will accept rolled coins from their customers for deposit or exchange, often providing free coin wrappers for this purpose.
- If you don’t have an account at a particular bank, you may be charged a fee to exchange your coins.
- Coinstar kiosks , found in many grocery stores and retailers, offer a convenient alternative to banks for counting coins, but they typically charge a fee (up to 12.9% plus a flat fee) if you choose to receive cash.
- You can avoid the Coinstar fee if you opt to exchange your coins for a gift card or donate them to charity.
- Another option is to use your coins directly for purchases at stores with self-checkout machines that accept coins.
In summary:
- If you’re a customer of a local bank or credit union, check if they offer free coin-counting machines.
- Otherwise, rolling your coins in wrappers (which banks often provide for free) and depositing them at your bank is a fee-free way to convert your change.
- If convenience is a priority and you’re willing to pay a fee, Coinstar kiosks are widely available.
Do any banks still have coin-counting machines?
Certain credit unions and community banks still have coin-counting machines. The majority of large banks, such as Bank of America, Chase and Capital One, do not have coin-counting machines for their customers anymore, though you can still receive coin wrappers.
Can you take coins to the bank to be counted?
Most banks accept coins for cash exchange, though services vary by institution. Large banks typically require pre-rolled coins, while some smaller institutions and credit unions provide self-service counting machines. The services depend on the bank, so it’s a good idea to call your nearest branch.
Do banks convert coins to cash for free?
Banks and credit unions often offer free coin exchange services for customers, while charging small fees for non-customers. Coinstar machines charge up to 12.9 percent plus a 99-cent flat fee but are widely available at grocery stores and retailers.
Where’s the best place to cash in your coins?
Great question! Your bank is the best place to cash coins because you cannot walk into ANY bank with a bag of coins and ask them to change it into paper currency. Banks also accept not a lot of coins on the counter. In USA generally a few coins that you can hold in your fist is the norm though some may make exception.