How to Deposit Coins at FNB: A Simple Guide for Everyday Transactions

Picture this: You’ve just found a stash of coins that you’ve been collecting for months, maybe even years. They’ve been sitting in a jar, or scattered around the house, serving no purpose except to make your wallet heavier when you occasionally grab a few. What now? You think about the smart choice: depositing them into your FNB (First National Bank) account. But how? Most people aren’t familiar with coin deposits these days since digital banking has become the norm. But, surprisingly, the process is still quite simple if you follow the right steps.

Why Deposit Coins at FNB?

Coins are legal tender like paper notes, and they add up quickly. You might be sitting on hundreds of rand without realizing it. But instead of letting those coins gather dust, depositing them into your account can unlock their full value, allowing you to invest, save, or just lighten the load in your pockets. FNB offers customers various options for depositing coins, making it convenient for anyone with spare change to access their money digitally.

Step 1: Preparing for Your Deposit

Before you head to the bank, it’s crucial to prepare your coins. This can be time-consuming but trust me—it’s necessary. Start by sorting your coins according to denomination: 5c, 10c, 20c, 50c, R1, R2, and R5. You might wonder if this is necessary. Yes, it is! FNB (and most banks) will often require coins to be sorted before deposit, as it simplifies their counting process.

Step 2: Wrapping Your Coins

FNB provides coin deposit bags at branches. These bags are designed to hold specific amounts of each coin denomination. Here’s an easy breakdown of how many coins you’ll need per bag:

Coin Denomination	Coins per Bag	Total Amount (ZAR)
5c	200	10
10c	200	20
20c	100	20
50c	100	50
R1	100	100
R2	50	100
R5	50	250

This organization helps streamline the deposit process, making it faster for the teller to count and process your coins.

Step 3: Visiting Your Nearest FNB Branch

You can deposit coins at any FNB branch across South Africa. While digital banking has taken over many traditional services, FNB branches still cater to coin deposits. Be prepared to wait, depending on the volume of coins and the availability of tellers.

Pro Tip: If you're depositing a large number of coins, try to go during non-peak hours, such as mid-morning on a weekday. Avoid lunch hours and Fridays, when branches are generally busier.

Step 4: At the Teller

Once at the branch, head to the teller, inform them that you'd like to deposit coins, and hand over your sorted bags. The teller will either count the coins manually or use a coin-counting machine. This part can take some time, especially if you’re depositing multiple bags. The teller will provide you with a receipt of deposit once the coins are counted and confirmed. The funds will reflect in your account within a few hours, although it might take longer depending on the branch's processing speed.

Step 5: Alternative: Self-Service Coin Deposit Machines

Some FNB branches are equipped with self-service coin deposit machines, which allow you to skip the teller line altogether. Here’s how it works:

• Locate the machine inside the branch.
• Pour your coins into the machine’s tray.
• The machine will automatically sort, count, and credit the coins to your FNB account.

This method is usually faster and more convenient than going to the teller, especially if you're short on time. However, not all branches have these machines, so it’s a good idea to check with your local branch beforehand.

Step 6: Fees and Limits

While depositing coins is convenient, FNB may charge fees for coin deposits depending on the volume. It’s important to be aware of these charges before making a large deposit. Here's an approximate breakdown of the fees:

Number of Coins	Estimated Fee (ZAR)
Up to 100	Free
101-500	R10
500+	R25

FNB may also impose limits on the total amount of coins you can deposit at once. For large amounts, it’s wise to contact your branch in advance to avoid any surprises.

Step 7: What to Do After Depositing?

Once your coins are safely in your account, it’s time to put that money to good use. You can:

• Transfer funds to your savings account.
• Invest in stocks or bonds.
• Use the money for day-to-day expenses without needing to carry physical coins around.

And now, you’re no longer bogged down by heavy coins! The process might seem like a hassle, but it’s worth the effort when you think about how much value those coins could hold.

Challenges People Face While Depositing Coins

One of the most common challenges people face is the time it takes to sort, count, and wrap coins. Additionally, branch availability can be an issue, as not all FNB branches offer full coin deposit services. However, with some preparation, these challenges can be easily overcome.

For those who find it daunting, there’s always the option of using coin counting machines at larger supermarkets (like Pick n Pay) and then taking the voucher to FNB. These machines can be faster but usually charge a small fee for the service.

Why Bother?

It might feel like a minor inconvenience, but think of it this way: those coins are your money. Whether it’s R20 or R2,000, every bit counts, especially in today’s economy. By depositing coins, you are essentially reclaiming value that you already own. Plus, depositing them can be a great way to kickstart a savings habit. The simple act of gathering loose change can grow into a more disciplined approach to saving and managing money over time.

Wrapping Up

Depositing coins at FNB is a simple but often overlooked way to add value to your financial life. With the bank offering various options, from teller deposits to self-service machines, there’s no reason not to clear out that spare change. Take action now, and let those coins work for you, instead of gathering dust in a jar.