U.S. Bancorp announced that its partnership with Coinstar now allows customers to deposit loose coins at more than 10,000 Coinstar kiosks and at more than 100 U.S. Bank branches nationwide. The expansion builds on a successful pilot at four branches and adds Transfer‑to‑Account service to the new locations, enabling customers to swipe their U.S. Bank debit card, have their coins counted, and see the funds instantly credited to their checking accounts.
The move is part of U.S. Bank’s broader strategy to deepen digital‑enabled, customer‑centric banking. By leveraging Coinstar’s extensive retail footprint, the bank can offer a convenient coin‑deposit option that would otherwise require a trip to a branch or a bank‑owned kiosk. The partnership also expands the bank’s deposit network, a key lever for attracting and retaining customers in a competitive banking environment where deposit growth is a primary source of fee income.
U.S. Bancorp’s recent financial performance underscores the strategic relevance of the partnership. In Q3 2025 the bank reported record revenue of $7.3 billion and earnings per share of $1.22, beating analyst estimates by $0.10. The strong results were driven by a 9.5% rise in fee income and a 2.75% net interest margin, reflecting disciplined cost management and a favorable interest‑rate environment. The bank’s cost‑to‑income ratio improved to 57.2%, indicating growing operational efficiency. The partnership is positioned to support the bank’s goal of reaching a 3.0% net interest margin by 2027 and to reinforce its deposit‑growth trajectory.
From a strategic perspective, the Coinstar expansion helps U.S. Bank meet its deposit‑growth targets by making it easier for customers to add funds. The convenience of instant, in‑branch coin deposits is expected to attract new customers and increase deposit balances, which in turn supports fee income and the bank’s ability to fund lending. The partnership also aligns with the bank’s commitment to digital integration, as the Transfer‑to‑Account service is fully automated and can be accessed through the bank’s mobile app and online banking portal.
Coinstar benefits from the partnership by expanding its Transfer‑to‑Account service to a major banking network. The company’s business model relies on transaction fees—typically 11.9% to 12.5% for cash payouts—so adding U.S. Bank as a partner increases transaction volume and diversifies revenue beyond its traditional cash‑conversion services. Coinstar’s CEO Kevin McColly noted that the partnership “helps us grow our deposit network and in‑branch capabilities, leveraging the network Coinstar has built over the last three decades.”
Sekou Kaalund, head of branch and small‑business banking at U.S. Bank, said the expansion “helps us do just that by leveraging their unique scale in retail locations and integrating automated coin‑deposit capabilities into our branches.” The comments highlight the bank’s focus on customer convenience and operational efficiency.
The partnership also positions U.S. Bank competitively, as other major banks have not announced similar coin‑deposit solutions. In a market where customers increasingly expect frictionless banking experiences, the ability to deposit coins instantly could differentiate U.S. Bank and attract cash‑heavy customers, especially during periods of coin shortages. The expansion is therefore a strategic move that supports both customer acquisition and deposit‑growth objectives.
Overall, the expanded Coinstar partnership strengthens U.S. Bancorp’s deposit network, enhances digital convenience, and aligns with the bank’s financial and strategic goals. The move is expected to contribute to continued fee‑income growth and support the bank’s broader objective of expanding its digital‑enabled service offerings.
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