It sounds like you’re looking for ways to exchange your loose change for cash, deposit it into your bank account, or perhaps exchange it for something else like gift cards. Here’s a breakdown of your options:
- Most national banks, local banks, and credit unions accept coins for exchange , although policies and services vary.
- Some institutions may require you to roll your coins yourself , and may even provide the wrappers for free.
- For account holders , banks typically offer coin exchange services without a fee.
- Non-customers might face deposit limits or incur a small fee to use the service.
- Local community banks and credit unions are more likely to have coin-counting machines available for customers and sometimes non-customers (possibly with a fee).
- Coinstar kiosks are widely available in grocery stores and retail locations.
- You can exchange your coins for cash, e-gift cards, or charity donations.
- Converting coins to cash typically involves a processing fee , which can be up to 12.9% plus a transaction fee.
- The e-gift card option is usually fee-free and allows you to choose gift cards for a variety of retailers.
- Some banks, like Ridgewood Savings Bank, waive Coinstar fees for their customers.
- Some retailers offer their own coin-cashing services or may accept rolled coins for purchases.
- Using coins for purchases directly can be an option, especially for smaller amounts, but it’s best to check with the retailer beforehand, as they are not legally required to accept large quantities of coins.
- You can also donate your coins to charity through Coinstar kiosks, though fees apply.
Important considerations:
- It’s a good idea to call your bank or credit union in advance to confirm their specific policies regarding coin exchanges, including whether you need to roll them and if any fees apply.
- If you have a large amount of coins, especially if you’re a non-customer, you might need to visit multiple branches or consider other options like Coinstar, keeping in mind the associated fees.
- Before exchanging coins, take a moment to check for any valuable or rare coins , as their worth could be significantly higher than face value. For example, quarters made in 1964 or earlier are 90% silver.
Can banks do coin exchange?
Many banks and credit unions offer coin exchange services, including national banks such as Chase, Bank of America, Wells Fargo, Citibank, U.S. Bank and more.
Will Bank of America take my unrolled coins?
No. Please take rolled coins to your local financial center. Incomplete rolls or loose coins may not be accepted.