Q:

What is a digital coin bank?

A:

Quick Answer

A digital coin bank stores and counts change at the same time. Such banks differ from normal coin banks in that they count any money inserted and display the counts for users to see.

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Full Answer

There are many varieties of digital coin banks available for purchase, from cute digital piggy banks to those with more utilitarian styles. At just one retail site, shoppers can purchase digital coin banks shaped like safes, ATMs, monkeys, soccer balls and rolled up 100-euro bills.

Digital coin banks that track change can be made at home. The team at Adafruit Industries, for example, offers a tutorial on how to make a simple digital piggy bank that not only counts the coins but also lights up when a coin is inserted.

As an alternative to a digital coin bank, coins can be stored in a traditional container, and a separate coin-counting machine can be used to count the total amount saved. The contents of a traditional piggy bank can be brought to a CoinStar or similar machine. These machines charge small fees for counting and sorting loose change and then issue vouchers the users exchange for paper money. Additionally, some banks count and sort their customers' loose change.

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