Do Banks Accept Loose Coins? What You Need to Know

Learn if banks accept loose coins and explore options like Coinstar machines for converting change to cash.

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Many banks no longer accept loose coins over the counter, but some still provide coin-counting machines for account holders. Check with your local branch to see if they offer this service. If not, consider using Coinstar machines located in supermarkets. Plan ahead by sorting your coins and contacting your bank to understand their specific policies.

FAQs & Answers

  1. Why do some banks no longer accept loose coins? Many banks have phased out over-the-counter acceptance of loose coins to streamline operations and reduce handling costs.
  2. What is a Coinstar machine? Coinstar machines are self-service kiosks that allow you to exchange loose coins for cash or gift cards, available at many supermarkets.
  3. How can I check if my bank has coin-counting services? Contact your local bank branch directly or visit their website to find out if they offer coin-counting services for account holders.
  4. What should I do with a large amount of loose coins? Consider sorting your coins and using machines like Coinstar, or check with your bank for their policy on coin deposits.

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