Penny Phaseout

What Consumers & Businesses Need to Know
Updated 03/10/26
 
 
We've monitored United Bank's penny supplies closely, and we estimate our diminishing supplies will require branch operational changes on July 1, 2026.*
 
Effective immediately, penny purchases by business customers will be limited to $10 per visit.
 
The US Treasury recently published an FAQ page for businesses and consumers.  
 
  • Only 16% of US retail transactions are paid for with cash.
  • Forty-nine percent (49%) of cash transactions are for $10 or less.
  • Only an estimated 80% of consumers spend their loose coin.  
  • There is an estimated 250 billion pennies in circulation.  
 
ROUNDING METHODOLOGY - United Bank disbursements
 
Here at United Bank, we'll begin rounding up all cash disbursements to the nearest nickel.  Based on our current supplies, we expect to begin this change around July 1, 2026.*
 
 
BUSINESS CUSTOMERS: Penny requests will be limited to $10 per visit effective immediately.
 
We'll provide rolled pennies to our business customers as long as we can, but ask that you consider how you'll change your business operations when dealing with cash.  Based on current consumption and exchange rates, we are anticipating very low supplies by July 1, 2026.
 
When our penny supplies do diminish, you'll need to adopt a rounding methodology for cash transactions when your customer doesn't have exact change.  If our nation doesn't adopt a standard rounding methodology, you'll need to develop your company policy and train employees on how to handle.  Perhaps your payment software will provide a rounding conversion systematically.
 
Are you accepting cards for payment at your business?  If not, our Business Services team can help you start.
 
WILL UNITED BANK ACCEPT YOUR PENNIES?  ABSOLUTELY!
 
Pennies are legal tender, and still hold their value.  We will always accept them for deposit.
 
Most of our United Bank offices have self serve coin machines for customer deposits.  Non customers are currently charged a 10% fee coin exchange.**
 
We'll continue to keep you posted of any further operational changes.  Do you have questions?  Please visit a United Bank bank office or contact us at 770.567.7211.
 
*This date could change, if we experience a significant change in consumption or exchange.
**United Bank lobbies that DO NOT have coin machines: Thomaston Northside office, Barnesville Ingles office