Can You Deposit Change Into an ATM?

While depositing bills into an Automated Teller Machine (ATM) is common, depositing coins presents different challenges. ATMs are designed for paper currency, not loose change. This article clarifies standard ATM capabilities and outlines alternative methods for depositing coins, helping individuals manage their spare change.

ATM Capabilities

Most standard ATMs are not designed to accept coin deposits. These machines are primarily built to process paper currency and checks, which are uniform in size and thickness. Coins, however, vary significantly in diameter, weight, and metallic composition, making them difficult for an ATM’s internal mechanisms to sort, count, and store accurately. The intricate machinery required to handle such diverse physical properties would be prone to jamming and require frequent maintenance.

While most ATMs in public spaces do not accept coins, some specialized machines exist. Certain banks may offer dedicated coin-counting machines within their branch lobbies, distinct from typical ATMs. These specialized machines handle loose coins, but are not universally available and are usually limited to specific financial institution branches.

Alternative Methods for Depositing Coins

Since most ATMs do not accept coins, several alternatives are available for depositing spare change. A traditional method involves visiting a bank teller during business hours. Many banks allow account holders to deposit loose or rolled coins directly with a teller, often without fees. Some banks may prefer or require coins to be sorted or pre-rolled, especially for larger quantities.

Another common option is using self-service coin-counting machines, such as Coinstar kiosks, found in grocery stores and retail outlets. Users pour loose coins into these machines, which count the change and issue a voucher. This voucher can be redeemed for cash at the store’s customer service desk or for an eGift card.

Coinstar typically charges a fee for cash payouts, ranging from 11.9% to 12.9% of the total coin value, plus a transaction fee of $0.50 to $0.99. Choosing an eGift card option often waives this fee. Some banks or credit unions also provide their own coin-counting machines within branches, which are typically free for account holders.

Preparing Coins for Deposit

Preparing coins beforehand can streamline the deposit process, regardless of the method chosen. First, sort coins by denomination, separating pennies, nickels, dimes, and quarters. This sorting simplifies subsequent steps and can be done manually or with a basic coin sorter.

For bank teller deposits, rolling coins into wrappers is often beneficial or required. Wrappers, available free at banks or for purchase, hold a specific number of coins for each denomination: 50 pennies ($0.50), 40 nickels ($2.00), 50 dimes ($5.00), and 40 quarters ($10.00). Rolling coins ensures an accurate count and expedites the bank deposit process. While coin-counting machines accept loose coins, sorting them can still be helpful.