This year, the U.S. Department of the Treasury discontinued the production of the penny. While the penny remains legal tender, Arvest Bank is actively preparing for a future with fewer pennies in circulation. Our priority is to ensure a smooth transition for our customers.
Here is what we are doing to manage this change and what you need to know. Check back here for updated information.
Business as usual, for now
We are closely monitoring our coin supplies and developing updates to support a future with fewer pennies. As of Dec. 19, transactions involving pennies will continue as usual. This includes ATM with Live Teller transactions.
For most of our bank locations, we can fulfill penny orders of $5 or less for consumers and $50 or less for business customers. We will continue to accept penny deposits and use them for transactions as long as possible.
Some banks are experiencing shortages
Coin supplies are starting to run low in some areas across the U.S., including our region. To address the growing supply concern in these areas, some of our banks may begin limiting penny orders from consumers and business customers.
Currently, our Oklahoma City and Southwest Oklahoma markets are limiting coin orders for pennies:
- Consumers: Limited to $0
- Business Customers: Limited to one box ($25)
Changes for non-customers, coin collectors
Due to supply concerns, we are not able to honor any penny requests from non-customers or coin collectors at this time.
Preparing for the future with coin rounding rules
Arvest plans to implement new coin rounding processes in early 2026, which will impact both customers and non-customers. We will share more details about how this will work closer to that time.
Impact on our ATM with Live Teller
Arvest ATM with Live Teller machines will operate as usual as long as the machine has adequate change. We are working with our vendor to find a solution for managing penny supplies.
Consider depositing your pennies
The Federal Reserve remains committed to accepting penny deposits from banks and other financial institutions. If you have a jar full of saved pennies at home, we encourage you to deposit them now. We will gladly accept loose coins from our customers at this time. Doing so will help circulate the coins in the economy and ease the transition period for those experiencing shortages.
We’ll continue to communicate changes
As we begin to implement changes at our branches, we will communicate those to ensure a smooth transition for our customers and business partners.
