What Banks Still Count Coins for Free?

Converting loose change into usable funds requires understanding the varying policies of financial institutions and alternative providers. Many individuals accumulate coins and seek convenient, cost-effective ways to convert them into currency or deposit them.

Banks Offering Free Coin Counting Services

Many large national banks have phased out free coin counting services, even for some account holders. However, some financial institutions, like credit unions and local community banks, still offer this service, often for their account holders.

Credit unions are often a good starting point for free coin counting. As member-owned cooperatives, many offer complimentary services. Some provide free exchanges for members, though non-members might incur a small fee, typically 2% to 10%. Smaller, local, and community banks may also offer free coin counting for customers.

Policies for free coin counting vary significantly between institutions and branches. Some major banks, like TD Bank and PNC Bank, offer free counting for account holders but may charge non-customers a fee (e.g., 5% or 8%). Other large banks, including Chase and Wells Fargo, generally no longer offer coin counting machines and may require pre-rolled coins. Always contact a specific branch beforehand to confirm their policy, eligibility, and machine availability.

Alternative Coin Counting Options

When bank services are not free or accessible, alternative methods exist. Self-service coin counting kiosks, like Coinstar machines, are widely available in grocery stores and retail locations. These machines quickly count mixed coins without pre-sorting or rolling.

Coinstar charges a service fee for cash payouts, up to 12.9%. This fee can be avoided by opting for an eGift card from selected retailers or by donating the amount to charity. Major grocery chains, including Walmart, Kroger, and Albertsons, often host these kiosks.

Manually counting and rolling coins is a free alternative, requiring only coin wrappers. While time-consuming, this method ensures you retain the full value. Donating loose change to charitable organizations is another option, where the recipient handles counting.

Preparing for Coin Counting

Preparation can streamline the coin conversion process. Before visiting a bank or using a coin kiosk, call ahead to confirm service availability, operating hours, and any specific requirements like account holder status or limits.

Preparing coins is beneficial. Remove foreign objects like paper clips, lint, or foreign currency, as these can jam machines. Ensure coins are dry and free of excessive dirt. Severely tarnished coins might cause recognition problems.

Transporting large quantities of coins requires practical consideration due to weight. Use sturdy bags or manageable containers. If depositing at a bank requiring an account, bring identification or a bank card.