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TD Bank, coined as America’s Most Covenient Bank, does not provide coin-counting machine to customers. Previously, the bank was popular because it did offer the “Penny Arcade” coin-counting service, but it has been suspended due to reports that it was shortchanging users.

How TD Bank Customers Can Deposit Coins

In order to deposit coins, TD Bank customers will have to use coin wrappers. These wrappers are available for free by visiting a TD Bank branch.

Customers have to wrap their coins at home before bringing them in for deposit.

This is the standard procedure adopted by most other banks that don’t offer coin-counting machines.

Coin-counting alternatives

Although TD Bank doesn’t offer coin-counting machines, other banks may provide them. However, be prepared to pay a fee if you are not customer of the banks.

Coinstar, a third-party company, has these machines at supermarkets but their fee can be quite substantial. Luckily, Coinstar also allows you to exchange your coins for gift cards and charitable donations, which don’t charge any fee.

History of TD Bank Penny Arcade Machines

In 2008, Canadian-based TD Bank acquired Commerce Bank and since then has kept most perks, such as being open 7 days a week, allowing dogs and offering dog treats.

The Penny Arcade machine was a coin-counter that allowed anyone (even non-customers) to count their coins. Users were allowed to guess the total value of the coints. If guessed within a certain range of the correct amount, users would collect a small prize when they took the receipt to a TD Bank teller. Meanwhile, users could cash out the coins or have them deposited into a TD account.

In November 2015, TD Bank started charging non-customers to use the machine. An interesting decision by TD, as the service drove over 6 million non-customers a year to TD branches.

Mixed response to the fee changes

If you are like us, you know counting change can be annoying. This is why TD Banks decision to begin charging non-customers is kind of a bummer. The service, which was free-for-all, now charges those who don’t have an account a 6 percent fee.

Consumer Reports Money Blog, who first reported on this change saw their readers offer mix responses, but mostly positive.

One comment read: “I am a customer of TD and it never made sense to me that non-customers received the same convenience at no cost to them. If they want the service for free then they should bank with them. I am sure their bank doesn’t provide free coin counting. TD is a fantastic bank and not a non-profit and the bottom line is coin-counting machines and the processing of the coin is expensive! All you have to do is be a customer!”

While this move to charge will no doubt upset the millions of non-customers who use the service every year, TD Bank feels is was the best decision for their current customers.

When asked why the change was made, a spokesperson for the bank indicated that a number of customers and employees were complaining that non-customers who use the machine were negatively impacting the service (Source: American Banker).

New non-customer fee was 6%

So for all the non-customers out there looking to easily count their change, is it worth paying the 6 percent fee?  We compared TD Bank’s new fee to one of the largest coin counting service in the United States, Coinstar ( and found the TD Bank fee may still be the best option.

To date, Coinstar currently changes 11 cents per dollar counted or 11%.

How do you feel about TD Bank’s decision to remove Penny Arcade coin counting machines?

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Ask a Question

  • Jacob

    Whew, it must be very useful to get coin counting service especially if we receive tons of coins from convenience stores customers.

  • Dee

    Just seem like it would help the bank with new customer because they have there foot in the door and TD has the chance to offer there banking service. And it money for money! They don’t do the work the machine does. How hard is it to collect coins in a bag!

  • Rock Starz House

    I think that’s the way it Should b, if you’re a Non member of Any establishment, u Should b charged for using their services

    • Simon Zhen

      It’s a nice way to bring people into their doors and possible help convert these people into TD customers. But, I’m guessing that the strategy didn’t pan out as intended.