Does Wells Fargo Have a Coin Machine?

If you’ve ever been to a bank before, there’s no doubt that you have come across a coin machine. For those of you who have never seen one: these machines allow customers to buy coins using their debit cards. They are actually very simple machines, and they mainly consist of a dispenser and a card reader. Does Wells Fargo have a coin machine? Let’s explore.

Does Wells Fargo have a coin counting machine?

No, Wells Fargo does not have a coin counting machine in its lobbies anymore. Most of the branches of Wells Fargo have removed their coin counting machines from their corridors.

Does Wells Fargo Provide Free Coin Exchange?

Wells Fargo still allows its consumers to deposit coins without charging them any fee, but many demands that the money is rolled in wrappers and then deposited. Wells Fargo provides coin wrappers and urges its customers to deposit their rolled coins. For Non-customers Wells Fargo charges a fee for the deposit of coins.

Why did Wells Fargo remove its Coin-operated Machines?

Steve Carlson, vice president of Wells Fargo Corporate Communications, made the following statement in response to a request for comment on the removal of its coin-operated machines:

“We started eliminating the machines from the few of our branches that had them in January 2017, keeping along with the general industry trend. There was no state- or region-specific reasoning for this corporate-wide choice. We are delighted to offer complimentary coin wrappers to clients so they can roll their change for a deposit because we recognize that some customers utilized and loved the coin counters.”

Steve Carlson, vice president of Wells Fargo Corporate Communications

The maintenance of the Coin deposit machines cost lot of money and thus was slowly eliminated by many banks.

Where in the USA can I exchange my coins for free cash?

When you’re young, you always fantasize about accumulating all these pennies and creating something out of them down the line. If you wish to go that route, we can offer a few ideas on how you can exchange your coins for cash.

You can exchange your coins at any Coinstar machines installed at various locations for a small fee. If you choose to collect Gift Certificates instead of cash, you will not have to pay any charges. These machines are installed at all major supermarkets. A fee of 11.9% is charged for exchange of coins to cash.

Another option is to make a donation of all the coins you have accumulated to American Red Cross, Feeding America, Make-A-Wish, UNICEF amonst others. Donations made also incur no charges on the Coinstar machines.

Conclusion

In recent years, banks all around the country have started getting rid of coin machines, either due to the price or a drop in demand as coin change from cash transactions has decreased. Wells Fargo Bank is one such bank that has removed its coin machines. You will have to explore alternative means of exchange of coins to cash.