Where to Deposit Coins in Singapore for (almost) FREE -2023

So you have saved up quite a bit in recent years.

The downside is that they are all in coins in your piggy bank, and using coins to make a purchase can be a hassle. Moreover, with deposit rates hitting 4%, keeping coins in piggy banks seems like a wasteful thing to do. 

It is also worth noting that you can use up to 20 coins in Singapore to make a purchase or transaction, as stated by MAS. Moreover, some shops have a right to refuse coins by putting a 'written notice' to indicate this. So instead of gathering dust, here are the places to deposit coins in Singapore. Some options are free, while others may charge a small fee. There are also locations for those holding 1st series coins, commemorative coins and even Brunei coins to deposit.

These are the places to deposit coins for free in Singapore

-POSB/DBS
-OCBC (New ATM)
- Standard Chartered (Priority Clients)
- Certis (Selected Series)
- Supermarkets Coin Machines

Banks

Most banks in Singapore offer coin deposit services to their customers. While some banks charge a fee, there are hacks to avoid that. 

POSB / DBS  - FREE DEPOSIT AVAILABLE 

POSB and DBS provide FREE deposit as long as it is done via the Coin Deposit Machine. The locations can be found here.

For branch deposits, there is a fee. Coins must be sorted in respective denominations before being deposited at the counter. There will be no waiver for My Account, POSBkids and POSB Child Development Account for over-the-counter (OTC) Deposit.

UOB

UOB charges a fee regardless if the deposit is done via Coin Deposit Machine or OTC. However, they do waive the deposit service charge if the value of the coins deposit amounts to less than $5. That means you can deposit 99 pieces of  5 cents coins without any issue.

UOB coin deposit machine locations can be found here.

OCBC - FREE DEPOSIT AVAILABLE

You can deposit coins at OCBC's newer ATMs for free. However, for branch deposits, there will be a charge of $1.5 for every 100 coins deposited or part thereof.

Locate a new OCBC ATM here

CIMB - MOST EXPENSIVE

CIMB charges one of the highest rates for coin deposits at $5 for every 100 pieces or part thereof. You can only deposit at the branch. The coin deposit will be waived if you have a CIMB Junior Saver Account.

Maybank

Maybank charges $2 for every 100 pieces or part thereof.

Standard Chartered - FREE DEPOSIT AVAILABLE

Standard Chartered charges by deposit amount. There is no indication of charges for value below $20. They do waive the fee for Priority Banking and e$aver Kids! Account

Certis - CHEAPEST BULK DEPOSIT

If you wish to deposit in bulk and do not have accounts for those banks providing Free deposits, Certies has the lowest rate at $3.5 for 1000 coins (before GST). You can even deposit older series coins and commemorative coins too. The deposit can be transferred to selected bank of your choice.

There are four locations at Paya Lebar, Bukit Merah, Jurong East and Certis EasIn addition, locationsLocations can be found here.

Self Checkout Kiosk at Sheng Shiong or Fairprice

You can use these self-checkout kiosks at Sheng Shiong or Fairprice to pay for groceries. These machines will accept coins as payments.