TD Bank Charges Non-Customers 6% Fee For Coin Counting

Sad day. TD Bank’s coin counter machines used to be free to all, but within the past month they’ve changed it so now non-customers will get levied a 6% transaction fee.

That’s cheaper than the 9.8% fee charged by coin-star, but still more expensive than rolling your own pennies.

(Thanks to Leo!)


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  1. HoJu says:

    Meh… thats fine. I don’t expect them to do the work for me for free.

    • Eli the Ice Man says:

      Why not? You depositing money in there is what makes them money to begin with. Banking fees are still a relatively new concept.

      • HoJu says:

        Where does it say anything about depositing. This is about NON customers.

      • minjche says:

        This service was offered to anyone, with or without a TD account.

        A reference to this is made in the second sentence of this article:
        “TD Bank’s coin counter machines used to be free to all, but within the past month they’ve changed it so now non-customers will get levied a 6% transaction fee”

        Perhaps you should try reading the article over again (I’m giving the benefit of the doubt you at least read it once).

  2. jason in boston says:

    Coinstar + Amazon giftcards = A perfect match.

    Don’t regular banks count change for free if you are a member?

    • Onesnap says:

      Yes, exactly! I bought sneakers with my spare change and had 0 processing fees!

    • minjche says:

      My experience with “regular banks” has been with PNC bank. My (former) branch wouldn’t count coins, but it did offer free coin wrappers. You’d then wrap the coins yourself, and they would accept the rolls of coins. I don’t know exactly how they verify the rolls have enough coins in them, but my guess is they weigh them.

      Now I bank with USAA so I obviously can’t deposit coins :-P

    • UnicornMaster says:

      doesn’t coinstar charge a fee? I’m ok with this.

    • UnicornMaster says:

      doesn’t coinstar charge a fee? I’m ok with this.

      • George4478 says:

        The one’s in my nearby Kroger charged a fee if you wanted cash, but had a selection of fee-free gift cards. I cashed in about $100 towards Amazon gift cards last Christmas and paid no fees at all.

    • suez says:

      Not necessarily. I’m with BoA and while they’ll give you free coin sleeves, they still expect you to do the rolling. I even asked if I could pay them to do it and they said no. Also, FYI, you can’t cash them in through the drive-thru; you have to walk the rolls in.

      • Xerloq says:

        Yeah, my bank did this. I rolled all my pennies, nickels and dimes ($36.70 worth) and took them in.

        They then broke open the rolls, and counted them out…

      • Bunnies Attack! says:

        Err did you ask them to count the coins for you or did you ask them to count and deposit them? Citi at least doesn’t force you to count or roll coins if you’re just going to deposit it into your account. I just handed them a big bag of quarters.

    • Nighthawke says:

      Busted: The local Coinstars stopped giving out giftcards.

    • Hooray4Zoidberg says:

      This is my secret way of saving for Christmas gifts. I save all my change from the year and then convert it to an amazon gift card and buy all my stuff on there. I tend to have about $300 a year in change, mostly because my morning coffee comes to just over $2 meaning I get about a dollar a day on average.

    • myCatCracksMeUp says:

      Navy Federal Credit Union (the best CU ever, imo) has machines that count the coins and deposit them in your account, at no charge. I only use it every couple of years and have had anywhere from over $600 to $1200 eache time. I love it. Oh – and the new one is very, very fast – the older one took quite a while.

  3. Hotscot says:

    I’ve seen these in the store but never used them.
    If you have a lot of coins can’t you just take them to the bank and deposit in your account. Or spend the things gradually?

    Or is it folks with no bank account that use them or something?

    • minjche says:

      There’s apparently enough folks that want to turn their change into folding money and would opt against rolling the coins themselves to warrant a market for this.

      I’ve used the Commerce Bank (before they were absorbed by TD Bank) “Penny Arcade” before. I had an account with them at the time but I didn’t deposit the coins into it.

      • zibby says:

        Yeah, this was convenient – the TD (then Commerce) was closer than the grocery stores and I’m lazy about this stuff – I throw my change into a bin and only color it out once every couple of years, so logistics can be an issue. But it’s their machine.

        The upside of this policy is that when I actually do it, it’s a nice chunk.

    • backinpgh says:

      Not all banks have a coin counter. And if you walk into a bank with a sack full of change and ask them to deposit it into your account they will probably throatpunch you. They won’t count it for you, you have to give them rolled coins. And if you have a few hundred bucks in coins, you probably don’t feel like sorting and rolling them yourself. And “spending them gradually” basically defeats the purpose of saving all your coins.

    • pecan 3.14159265 says:

      Like backinpgh said, bank tellers won’t count loose coins. You have to bring them in rolled up. Also, my bank hours are normal business hours and even if they did have coin counting machine, I have work when they’re open – it’s too much of a hassle. Coinstar machines are in my grocery store and I can go after work or on the weekends.

    • pecan 3.14159265 says:

      Also, most people can’t spend coins gradually…it’s impractical to carry around enough coins to pay for things that cost more than a pack of gum or a soda.

      People who go to the coin laundry keep their coins – everyone else just has them in a jar somewhere, begging to be converted to a more practical method of payment (bills) or a gift card.

  4. nybiker says:

    My guess is that they need more money for the naming rights payment of the joint in Boston.
    OTOH, they might want to be in the race to the bottom of worst flip-flops.

  5. minjche says:

    It’s a bummer but I can’t hold it against them.

  6. Foxtrot-Yankee says:

    But Coinstar will give you your money as an Amazon gift card with no transaction fee.

    I realize that’s not for everyone, but I order enough from Amazon that it might as well be cash.

    • Onesnap says:

      Yes…why pay the coinstar fee when you can get Amazon! Love it.

      • PatrickPortland says:

        The Coinstar machine nearest me is an older model that does not offer gift cards. Clearly with Coinstar, YMMV.

        • Max5695 says:

          Coinstar machines at Walmart don’t give gift cards. Apparently, Walmart specifically requested machines that don’t give gift cards so that Walmart would get a portion of the coin counting fee every time.

          Coinstar machines at most other stores give gift cards.

    • TasteyCat says:

      Coinstar + Amazon? Wait. What? I want that option.

  7. hymie! says:

    Oh my God. They’re providing a service … for a fee. What kind of society is this?

    • RandomHookup says:

      True, but they are now charging for a service they used to give away.

    • Blueskylaw says:

      Don’t be surprised when one day companies will charge you for paying your bill…

      Ohh wait

    • Eli the Ice Man says:

      They also charge to do stuff their computer software does automatically, while managing your money in their vault which is exactly what they require to generate a profit. That’s why banking fees are BS.

      • minjche says:

        The computer software does it automatically, yeah, but who pays for the property, the electric, water, paper/office supplies, and teller salaries? That stuff isn’t free, hence bank fees.

        There’s also the idea that in a capitalist society, it is generally a positive thing to earn money.

        • Eli the Ice Man says:

          Bank fees as they are today did not exist not a couple decades ago, when banking was less automated and required more brick and mortar establishments and human tellars, the stuff banks TODAY suggest are justification for charging bank fees. Other countries don’t have the same silly fee structure either. My east Indian banking officer relented and even admitted she didn’t understand why we had so many fees after I explained to her why I don’t do as much business with them as they were suggesting I could and should.

          • minjche says:

            I’m sorry that you have this personal vendetta against bank fees, but sadly: times change. Look around you, things are much different than “a couple decades ago”.

            I don’t personally know what the increased bank fees would go towards paying but it doesn’t sound like you have any idea either. My guess is banks wanted to make more money off of their customers. I don’t like paying more money either, but I don’t think it’s immoral or wrong for a business to make decisions that would earn it more money (since, after all, that’s what a business is for).

            Further, to compare an American bank to a bank from another country doesn’t seem very responsible.

            I do appreciate your single, anecdotal conversation that you’ve decided is representative of an entire industry, though.

  8. Onesnap says:

    I hate that stupid Penny Arcade machine and the employees do as well. Just count my damn coins and don’t be all cute and loud and annoying. (I prefer to use Coinstar though…it’s faster and I can turn the coins into an Amazon giftcard for 0 processing fees).

  9. MonkeyMonk says:

    Does Coinstar give you Redbox (same company) credits for counting your change? That’s a service I’d use.

  10. MrEvil says:

    Cheaper than Coinstar if you want to convert to folding money. Coinstar thankfully waives the fee if you buy a gift card with your change. I buy lots of stuff from Amazon so it’s actually pretty cool.

  11. You Can Call Me Al(isa) says:

    My bank will give you cash for your coins for free. They dump the coins into their coin counter machine and hand cash to you. I save up until my tupperware is full, then generally use it to take myself out for a nice dinner.
    As of Jan 1, 2011 they are going to start charging a fee or $.25/$100 of coins, which isn’t bad.

  12. fsnuffer says:

    Take you coins to Vegas.

  13. webweazel says:

    Years back, we would roll our own coins, and the bank would only accept them if we wrote our bank account number on the rolls. I guess if there’s a wrong count, they would charge or refund the difference. Okay.
    THEN, a relative went to the same bank to get some rolled coins, and they were handed home-rolled rolls that had random bank account numbers written on the rolls. The bank never counted the coins or re-wrapped them to verify the count. (!)
    You people can figure out the count of how many wrongs were done with this policy. Of course, we never rolled coins again.

  14. ash says:

    All the banks/credit unions I have gone to always count change for free. They just dump it in the change machine and give you cash.

    • myCatCracksMeUp says:

      At Navy Federal CU you have to be a member, and you use the machine yourself, not a CU employee. You enter your checking or savings account # into the machine, then dump your coins in it. You get a detailed receipt showing how many of each type of coin there was, the total value for each type of coin, and a total amount of all coins, with that amount being deposited into your account. I LOVE this machine. And I don’t think they’ll ever charge because, 1 – NFCU is the best, and 2 – since there is no employee work required, there’s no reason to.

  15. jesirose says:

    So? Capitol One’s non-customer fee is 10%.

    • jesirose says:

      Oh – and they don’t accept rolled coins as a deposit. I had already rolled them, took them to deposit in a business account (the policy was regardless of the account type) and I had to unroll them all and put them in the machine. They didn’t charge the fee since it was a customer account.

  16. alexw says:

    Dude. Associated Bank in Wisconsin has charged non-customers a 10% fee for coin counting for as long as I can remember. This service is, however, provided free of charge to customers of the bank.

  17. rndmnmbr says:

    A cheap coin rolling machine is available at Walmart. Not of the best quality, but I’ve counted out about $800 in change with mine. And once it’s rolled, pretty much any convenience store will swap out coin for cash, they’re always running out of change.

  18. Skellbasher says:

    Frankly, 6% is cheap for this,especially considering TD Bank customers still get it for free.

  19. BlueLion says:

    I’m surprised more banks don’t charge for coin counting. Armored car services aren’t free (when I worked for a major, awful bank, Brinks charged a 5% fee of the total money transported to and from the bank). I totally agree with charging a coin counting fee to business customers and non-customers. Other people who empty their coffee cans once a year don’t really make a difference and shouldn’t be charged.

    • Southern says:

      I’m surprised they charge at all, myself – considering they’re just going to turn around and sell them to a business owner (like your corner deli, or corner gas station); they all have to PAY the banks for the change that they get from them. (I don’t know what the fee is, it probably varies depending on the balance you have in your business bank account).

      I used to sell all my rolls of change to my local corner store, they’d always buy it, since it saved them from having to pay for it at a bank.

      These days tho I just use Coinstar, and just get the Amazon gift certificate.

  20. teqjack says:

    Coin counters? It has been a couple of decades since banks in my area have had these, nor will they accept loose coins – must be rolled. They usually do provide the rolls for free, if you ask.

  21. kc2idf says:

    but still more expensive than rolling your own pennies.


    At national minimum wage, (7.25), a penny is worth only 4.96 seconds of your time. If it takes you a minute, then you have effectively spent 12¢ to roll that roll of pennies. Coinstar would have done that for 5¢, and TD Bank for 3¢.

    Of course, this only adds to the many reasons why pennies are discs of suck.

    • minjche says:

      This is so much epic win.

    • rookie says:

      How much did it cost to figure out that?
      How much will it cost to reply to my question?
      May I have 10% of that?
      Why not?

    • suez says:

      I prefer to roil them while sitting on the couch watching TV. Considering that’s an activity I normally don’t make money doing, my multi-tasking abilities will make me rich!

  22. davidsco says:

    SOMEONE has to pay for those annoying Regis and Kelly commercials

  23. tgrwillki says:

    *sigh* my credit union Charges $8 if you have more than $100 counted in a single day…

  24. Unclaoshi says:

    I count my coins at home for free XD

  25. oldwiz65 says:

    Great way to turn off potential customers. The big banks are clueless about such simple things as being nice to people.

    I count my own coins and put them in paper rolls and take them to my bank and they are fine with it.

    • minjche says:

      Most of the TD banks around me are former Commerce Banks, and the folks at Commerce (at several different branches) were always so incredibly friendly and helpful to me that the loss of the “Penny Arcade” would certainly not turn me away. Some are even open for full or near-full hours on weekends.

  26. PatrickPortland says:

    YMMV with Coinstar – the machine nearest me does NOT offer anything other than coin counting and taking a 9-point-something percent cut. No gift cards, no charity donations, nuttin.

  27. Nigerian prince looking for business partner says:

    I guess I really don’t produce enough change that rolling it myself once every five years is all that big of a deal.

  28. DJSeanMac says:

    I use my loose change at the self-pay checkout. Mind you, I’m never over $10 in change anyway.

  29. Aennan says:

    My problems with my local bank and the local credit union? They want you to roll the coins (I’m okay with that) and then they want you to writer either your Account # or your Telephone number on the wrapper.

    The tellers said to me, it’s so if we give it to someone and the roll comes up short we know who to charge.

    Moral of the story: If you want to steal someone banking account info, come to my hometown.

  30. MustWarnOthers says:

    Join a decent Credit Union if you have one in your area. Stop using banks.

    Ours has the quality coin machines (Magner) and they are free for Member use.

    Swipe your debit card, or punch in your member number, dump in coins, get money immediately.

  31. Mike says:

    That’s still cheaper than Coinstar and the local banks here…

  32. PBallRaven says:

    Does the coinstar hack still work? Wait until you get to the selection screen, disconnect the phone line, select gift card, get error and machine gives you 100% of your total in cash?

  33. Snarkster says:

    A few years ago PNC had me put my coins in a bag they provided along with a deposit slip to be sent “downtown” to be counted. The deposit never showed up on my account and I was told by the same teller each week for about three weeks to wait a while longer. Finally they told me it must have been “lost” and I was out of luck. I was easily out about $50-75 and they offered nothing except the suggestion that next time I take my coins to TD–which I have done since.

    As a result of that experience I moved most of my money away from PNC and have told dozens of people new to the area to bank elsewhere. I wish I had been prepared at the moment the teller told me the money was lost to say, “I’d like to close all my accounts now.” Maybe that would have encouraged them to try a little harder to find my missing coins or offer compensation. I suppose it’s a sad commentary on my life, but I’m still upset–years later– when I think about this experience.

  34. ap0 says:

    How dare they attempt to make money off people who don’t bank with them normally for using their equipment! This is so anti-consumer! Especially when current customers can use the machines for free!

    Seriously, people, not everything can be given to you for free, even from the big evil rich multinational banks. I have absolutely no issue with this.

  35. El-Brucio says:

    As far as I can tell, none of the banks in my town, TD or otherwise, have any coin counting machines available to their customers. Most of the larger grocery stores do seem to have Coinstar machines though.

    So far the best deal I’ve found is that one of the larger shopping malls near my house has a coin-counter that doesn’t charge a fee, provided that you are ok with getting the money on a mall gift card and were planning to spend the money there anyway.

  36. 4Real says:


  37. rookie says:

    I went into my bank, Compass, just this morning. I had five rolls of quarters, won during an illegal game of poker over the weekend. The teller was very nice and said he had to count them. And, then he did, and I was very happy to walk out with folding cash.

    Go to your own bank for services.

  38. mbz32190 says:

    Sounds good to me. As an account holder at TD Bank (it’s more of a “spare” joint account with my father…most of my savings is at the credit union), it was annoying having to wait in line behind non-customers. There is only one counter and it isn’t the fastest thing in the world. I was really surprised the free counting lasted as long as it did. From what I’ve witnessed, the machine fills quickly, or coins get stuck, or some old lady doesn’t know how to use it, and takes up a lot of staff time.
    The fee is a fair amount for not having an account there (pretty much free as well).

  39. blue_j says:

    That’s cheaper than the 9.8% fee charged by coin-star, but still more expensive than rolling your own pennies.

    Actually, that depends on where you’re getting your penny rolls.

    I was curious what the going price for those was: The first listing on Amazon was a 48-pack of those preformed-penny-tubes for $3.59. That’s about 15% of the $24 you’ll get for your rolls at the bank.

    Of course, the second Amazon listing is a box of 1,000 flat penny-sleeves you need to pop-out to fit coins in. It’s on sale for $5.99, or around 1.1% of your $500 worth of pennies. Rolling your own can be cheaper than a coin-sorting service, you just need to shop smart.

  40. coren says:

    I know that some banks (and yes, credit unions) are no longer doing rolled coins at all, and only have the counting machines.

  41. Danjalier says:

    Considering how often these coin counters break down, the 6% fee guarantees the machines are used less, and chips away at the cost of having to get it repaired.

    Still, just another sign of the end times.

  42. JANSCHOLL says:

    My credit union used to be free to members (where the store next door was 9%) and another store waived the fee if you bought a gift card to use there. But when I recently took one year worth of silver coins into the credit untion, intending to donate the proceeds to the local food bank, I was told the fee was 10% of the total. I said no way. The only option was to deposit amount into a cd for 6 months. The interest on a 6 month cd was like .24. I am currently looking for another crecit union or bank since all my business is online and that was the first time I had been inside the actual facility in two years. Now what do I do with the huge jar of pennies I have? Its about 4 feet tall and 10 inches across….and full.

  43. BurtReynolds says:

    At least they have the counting machines for account holders. BofA lets you count the old fashioned way. I can’t wait for the credit union that is under construction 2 minutes from house to open, a free coin counter is mentioned on their website.

    My old CU back in Upstate NY had a free counter beginning over 10 years ago. Last year when I finally decided to “deal” with my sack of change, I was pretty surprised to see BofA didn’t offer one to customers.

  44. Sarge says:

    Big deal….my current bank has had the same policy with their coin counting machine since I’ve had an account there…….

    If you don’t like the fee……ask for paper rolls (or God forbid, BUY them) and do it your d*mn self

  45. econobiker says:

    So why don’t self service checkouts have coin dump bowls?

  46. soj4life says:

    This just doesn’t make any sense in the world. The point of the machine was to 1) free up teller from counting coin by hand 2) free advertising to bring people into the branch. There could be a small increase in new accounts for those that don’t want to get hit with this fee, but once people find out about it, new account growth will fall off deeply.