TD Bank to customers: 'Keep the change'

The consumer bank is discontinuing its popular coin-counting arcades after complaints about their accuracy.

Now, TD Bank says, you can keep the change.

The bank is getting rid of its coin-counting machines, after being sued in New York by a man who claimed he was short-changed. The man, Jeffrey Feinman, filed suit in April, when local news reports highlighted incorrect TD Bank machines, leading to the firm's decision to take some out of commission.

"Recent accounts regarding the performance of our penny machines have led us to reassess this offering," Michael Rhodes, head of TD Bank's consumer bank, said in a statement. "We have determined that it is difficult to ensure a consistently great experience for our customers... we have decided to retire the [coin-counting] fleet and provide alternative coin-counting solutions to our customers."

Coins, money change
Deborah Pendell | Getty Images

Rhodes also acknowledged that usage of the bank's coin counting machines has declined "steadily" over the years. Despite complaints, and the lawsuit against TD Bank, the company said it had tested penny machines daily and provided routine maintenance.

TD Bank had operated more than 1,000 of the machines at banks from Maine to Florida, according to its statement.

The bank will keep taking pre-rolled coins, and other options abound for people looking to turn in coins by the bucket rather than by the roll. PNC Bank, as well as Coinstar, which are at various retailers' locations, are still taking coins.