Brandon Lee
Banks and credit unions often provide coin exchange services, but they may charge a fee for their services. Some banks offer coin-counting machines for customers to use for free, while others accept rolled coins without charge. Credit unions are more likely to offer free coin-counting services, and some even offer them to non-customers. Coinstar kiosks, which can be found in many retailers, are another option for exchanging coins for cash, but they typically charge a processing fee.
| Characteristics | Values |
|---|---|
| Banks that offer free coin exchange services | Wells Fargo, Chase, Capital One, Citibank, TD Bank, US Bank, Bank of America, JBT, Manasquan Bank, Hyperion Bank, PNC Bank |
| Banks that offer coin exchange services with fees | Coinstar, State Employees' Credit Union, Suncoast Credit Union, Republic Bank, Alliant, Publix |
| Types of coin exchange services | Coin-counting machines, manual counting and sorting by bank tellers, coin wrappers |
| Coin types accepted | Loose change, rolled coins |
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What You'll Learn
- Credit unions often provide free coin-counting services for members
- Local community banks may offer free coin-counting machines
- Some banks provide free coin exchange services for account holders
- Coinstar machines are free if you opt for an e-gift card
- Some banks accept loose change without needing coins to be rolled
Credit unions often provide free coin-counting services for members
Some credit unions, such as Suncoast Credit Union, charge a fee for their coin-counting services. Suncoast Credit Union members pay a 5% fee on the coin total, while non-members pay 10%.
Credit unions that do not have coin-counting machines may still accept rolled coins from customers. Some may charge a fee for this service, but others, such as Wells Fargo, will exchange rolled coins for customers without a fee.
If you are looking to cash in your coins for free, you can also try local community banks. For example, JBT and Manasquan Bank offer free use of coin-counting machines to customers. Non-customers may be able to use these machines for a fee, or for free.
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Local community banks may offer free coin-counting machines
Local community banks may be able to offer free coin-counting machines for members. Credit unions or community banks are more likely to have free coin-counting machines for members. For example, JBT and Manasquan Bank customers have free access to coin-counting machines. Similarly, US Bank does not require customers to submit coins via rolls and does not charge a fee for the service.
Some banks may charge a fee for non-members to use their coin-counting machines. Hyperion Bank in Philadelphia has a coin-counting machine that is free for customers and charges a 5% fee for non-customers. Some banks may also charge a fee for members to use the coin-counting machines. For example, Suncoast Credit Union charges a 5% fee for members and a 10% fee for non-members.
It is important to note that not all banks accept coins or provide coin-counting machines. Before visiting a bank, it is recommended to contact their customer service department to inquire about their coin exchange services and any associated fees.
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Some banks provide free coin exchange services for account holders
Some banks may provide coin wrappers for customers to roll their own coins, while others may accept loose change. Bank of America, for instance, offers coin-counting machines in select branches, typically for customers only. Non-customers might have access for a fee or by rolling their coins. TD Bank, Chase, Capital One, and Citibank also offer similar services.
Credit unions are also a great resource for getting cash for coins without fees. Alliant Credit Union, for example, allows members to trade rolled coins for money without paying a fee. Suncoast Credit Union has self-service coin-counting machines in each branch lobby, but charges a 5% fee to members and 10% to non-members.
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Coinstar machines are free if you opt for an e-gift card
Coinstar kiosks are an easy way to exchange your loose change for cash. They can be found in over 24,000 locations, including banks, Walmart stores, supermarkets, and gas stations. Typically, Coinstar charges a service fee of up to 12.9% plus a $0.99 transaction fee to exchange coins for cash. However, if you opt for an e-gift card instead of cash, there is no fee.
Coinstar offers e-gift cards from over 20 different stores and restaurants, including popular options like Starbucks and Southwest Airlines. The specific gift card options available to you will depend on your location and the retailer. To find out which gift cards are offered at a particular kiosk, you can visit the Coinstar website or use their kiosk finder.
When you select an e-gift card, you will receive a code on your receipt, similar to a voucher. This code works just like a plastic gift card and can be used for online or in-store purchases. It's important to note that e-gift cards are non-refundable and cannot be exchanged for cash. Additionally, Coinstar does not offer physical gift cards, only paper e-gift cards with unique codes.
While Coinstar provides a convenient option for exchanging coins, it's worth noting that some banks and credit unions also offer free coin-counting services for their customers. Local community banks, such as JBT and Manasquan Bank, provide free coin-counting machines for their customers. Credit unions, in particular, are known for their commitment to providing free and cost-effective services, so it's worth exploring your options before choosing a coin-cashing service.
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Some banks accept loose change without needing coins to be rolled
Some banks offer free coin-counting machines for their customers, such as Hyperion Bank in Philadelphia, JBT, and Manasquan Bank. Non-customers may be able to use these machines for a fee, which is typically smaller than alternatives like Coinstar. However, some banks may not have coin-counting machines due to maintenance issues.
If you want to avoid using a coin-counting machine, some banks will accept loose change without the need for coins to be rolled. For example, Citizens Bank accepts loose change in amounts below $20 and rolled coins amounting to $20 or more. US Bank also does not require customers to submit coins via rolls. Other banks that offer similar services include TD Bank, Chase, Capital One, and Citibank.
It's important to note that not all bank branches accept coin deposits, so it's recommended to check with your bank or credit union's customer service department to see what coin exchange services are available. Some banks may charge a fee for coin exchanges if you are not a customer. Additionally, some banks may have stopped accepting coins altogether.
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Frequently asked questions
Most banks do provide coin exchange services, but some may charge a fee for the service. Credit unions or community banks are more likely to have free coin-counting machines for members.
Banks that offer free coin exchange services include TD Bank, Chase, Capital One, and Citibank. Some credit unions also offer free coin exchange services for customers, and some even for non-customers.
Coinstar machines are available in many supermarkets and offer a convenient way to exchange coins for cash, e-gift cards, tax-deductible charity donations, or cryptocurrency. However, they typically charge a processing fee of up to 12.9% and a $0.99 transaction fee.
This depends on the bank. Some banks accept rolled coins, while others only accept loose coins. It's recommended to contact the bank in advance to inquire about their specific requirements and fees.
Yes, some regional retailers have been known to provide their own coin-cashing services. Additionally, certain gas stations, such as QuikTrip, have allowed customers to exchange coins during coin shortages.
