Do banks prefer pre-wrapped and counted money over loose coins? I am trying to avoid the coin counting machine fees…
Hey John, Banks usually prefer coins to be wrapped, as it speeds up the counting and depositing process for tellers.
However, some banks and credit unions offer coin-counting machines for loose change.
It’s a good idea to check your bank’s policy. For large amounts of coins, wrapping them yourself can be time-consuming, so you might use a coin-counting machine at a grocery store or retail location, which often charges a small fee.
Depends on the bank.