Where Can I Bring My Change for Cash?

Accumulating loose change is common, but converting it into paper currency can be a challenge. Several practical methods exist for transforming coins into cash. This article explores common avenues for converting your change.

Converting Change at Banks and Credit Unions

Financial institutions offer a straightforward way to convert loose change into cash or deposit it into an account. Confirm your bank or credit union’s specific policies, as requirements can vary. Many institutions offer free coin conversion services to their account holders, while non-account holders might face a fee or be unable to use the service.

Some banks and credit unions provide coin-counting machines on-site, allowing you to pour in your loose change directly without prior sorting. The machine typically issues a receipt for cash redemption or deposit. While many larger national banks have phased out these machines, they are more commonly found at local community banks and credit unions.

Alternatively, many financial institutions require coins to be pre-rolled in specific denominations. Standard coin rolls hold 50 pennies ($0.50), 40 nickels ($2.00), 50 dimes ($5.00), and 40 quarters ($10.00). You can often obtain coin wrappers for free from the bank or purchase them from office supply stores. After sorting and rolling your coins, you can present them to a teller for exchange into bills or a direct deposit. Inquire about any daily limits on deposits or exchanges, especially for large amounts of change.

Using Public Coin Counting Kiosks

Public coin counting kiosks, widely available in grocery stores and large retail establishments, provide a convenient solution for converting loose change. These self-service machines allow you to pour in unsorted coins, which the machine then counts and sorts.

A significant consideration when using these kiosks for cash conversion is the associated service fee. Typically, these machines charge a percentage of the total amount counted, often ranging from 11% to 12.9%, along with a potential flat transaction fee of up to $0.99. For example, cashing in $100 in change could result in a deduction of approximately $11 to $13, meaning you would receive around $87 to $89. This fee covers the cost of operating and maintaining the machines, as well as the logistical expenses of handling the coins.

To use a kiosk, you select the cash option on the screen and then pour your coins into the designated tray. It is important to ensure your coins are clean and free of debris, foreign currency, or other objects, as these can jam the machine or be rejected. Once counting is complete, the machine calculates the total, deducts the service fee, and prints a voucher for the net amount. This voucher must then be redeemed for cash at the customer service desk or a cashier within the same store where the kiosk is located. While the primary goal is often cash, these kiosks also offer an option to convert your coins into a gift card or e-voucher for select retailers, which typically waives the service fee entirely.