Have you ever stood in front of a Coinstar machine, wondering, “How much does Coinstar charge?”
Well, you’re not alone.
It’s a question that naturally arises when you’re considering turning your pile of loose change into usable cash. We’ll take a closer look at the fees associated with Coinstar machines and help you understand the cost of this convenient service.
So, if you’ve got a jar full of coins waiting to be counted, let’s dive in and explore how much does Coinstar charge and whether it’s the right choice for transforming your spare change into spendable currency.
Let’s get started!
- Coinstar operates self-service coin-counting kiosks. These kiosks are typically found in supermarkets, grocery stores, & retail locations.
- Make your way to the nearby Coinstar kiosk. As you approach the machine, ensure your coins are in good condition.
- The Coinstar kiosk offers three choices for your payout. You can opt for cash, an eGift card, or a charitable donation.
- Coinstar typically charges a fee for their coin counting & cash redemption services. The fee is usually around 11.9% of the total value of the coins you exchange for cash.
- Remember that this fee percentage may vary slightly depending on the specific Coinstar kiosk & its location. So, check the exact fee at the kiosk before using it.
- The Coinstar machine features a touchscreen that displays the current sum of changes it has counted. This display is delayed, so you should wait until it catches up before proceeding with the cash-out process.
- Once all your coins have been deposited, it’s important to listen and confirm that the machine has ceased its counting. After counting, you’ll receive a paper voucher for cash. You can take this voucher to the cashier for redemption.
- If you choose the eGift card option, it will come with a unique code printed at the top. This unique code can be used online or at your favorite retail store or restaurant.
- Donating your coins to charity will give you a receipt for your records. It is a tax-deductible donation.
- You can avoid Coinstar fees by following some tips, such as receiving a gift card, heading to the bank, rolling the coins, and donating to charity.
- Coinstar’s partnership with Coinme lets you purchase Bitcoin directly at their kiosks.
- Coinstar can be highly beneficial for businesses needing a fast and efficient way to convert coins into cash.
- Coinstar is safe to use. It is a well-established company operating coin-counting kiosks for many years. They have a track record of providing their services reliably.
- According to Coinstar, approximately 90% of the U.S. population resides within a 5-mile radius of a Coinstar kiosk.
How Does Coinstar Work?
Coinstar is a perfect choice if you want to convert your loose change into more convenient forms of currency.
To use Coinstar, you need to make your way to the nearby Coinstar kiosk. As you approach the machine, ensure your coins are in good condition. It must be clean, dry, and free from debris so that no issues are caused during the counting process.
Double-check your coin collection to avoid any foreign currency mixed in. While Coinstar machines have a return tray for rejected coins, avoiding the hassle is best.
The good news is that you don’t need to roll your coins; just dump them all into the machine.
The Coinstar kiosk offers three choices for your payout. You can either opt for cash, an eGift card, or make a charitable donation.
When you observe the Coinstar device, you’ll see a metal hinged tray with holes. You must raise the tray gradually to enable the coins to enter the machine. Please do this slowly since the opening can only accommodate a certain number of coins at a time.
You should rearrange some coins to ensure they all enter smoothly without causing a blockage.
The Coinstar machine features a touchscreen displaying the current number of changes it has counted.
Be aware that this display has a slight delay, so you might need to wait until it catches up before proceeding with the cash-out process.
Once all your coins have been deposited, it’s important to listen and confirm that the machine has ceased its counting.
The machine will provide an alert once it has completed the counting process.
Once all your coins have been counted, you’ll receive a paper voucher for cash. You can take this voucher to the cashier for redemption. Please do it on the same day it’s issued.
On the other hand, if you choose the eGift card option, it will come with a unique code printed at the top. This unique code can be used online or at your favorite retail store or restaurant.
And if you donate your coins to charity, you’ll get a receipt for your records. It is a tax-deductible donation.
The more coins you have, the longer it may take to load them, but you’ll be happy to know that Coinstar machines are pretty speedy at counting.
See how a Redditt user explains how Coinstar works:
Now, let us know how much does Coinstar charge in the next section.
How Much Does Coinstar Charge?
I have seen many people asking me how much does Coinstar charge.
Well, Coinstar typically charges a fee for their coin counting & cash redemption services. The fee is usually around 11.9% of the total value of the coins you exchange for cash.
Here’s how you can calculate Coinstar’s fee:
- First, you need to know the total value of the coins you exchange. Let’s say, for example, you have $200 worth of coins.
- Coinstar’s fee is approximately 11.9%. To calculate the fee, you can multiply the total value of your coins by 11.9%.
This is formula for how much does coinstar charge –
Fee = Total Value of Coins × 11.9%
According to my example –
Fee = $200 × 11.9%
Fee = $23.80
If you exchange $200 worth of coins for cash using Coinstar, the Coinstar fee would be approximately $23.80.
Remember that this fee percentage may vary slightly depending on the specific Coinstar kiosk & its location. So, I suggest you check the exact fee at the kiosk before using it.
You’ll be surprised that you might avoid the cash redemption fee altogether if you exchange your coins for a gift card or donation.
Now, you’re aware of how much does Coinstar charge. So, let us know how to avoid Coinstar fees in the next section.
Avoiding Coinstar Fees
I conducted some investigations and discovered several simple techniques to avoid Coinstar fees. Here are the tips:
1. You Can Get A Gift Card
The most effective way to avoid Coinstar fees is to choose gift cards.
All you need to do is insert your change and choose the gift card of your preference. You’ll receive a paper eGift card voucher with a unique gift card code printed at the top. This functions just like a traditional plastic gift card.
You can utilize the gift card code to purchase at the respective retail store or restaurant, in-person or online.
Coinstar provides an extensive selection of gift cards that includes over 20 different retailers and restaurants.
You can retain your eGift card for future purchases if you don’t exhaust the entire balance.
This can be done by visiting the retailer’s website, contacting their customer service department, or visiting one of their physical stores.
See how a Redditt user uses Coinstar to get gift cards –
Look at the suggestion of a Redditt user –
2. Head On Over To Your Bank Or Credit Union
If your primary objective is to obtain cash for your coins without incurring fees, you can visit your bank.
Many banks offer coin counting machines for this purpose. Some banks may not have such machines, but they accept rolled coins in exchange for cash.
The advantage of using banks is that their members often enjoy a fee-free coin exchange service. However, non-members may typically be subject to a fee.
You can contact the bank directly if you want to explore this option. Generally, if you hold an account with them, they are more likely to provide a free coin exchange service.
See how a Redditt user is suggesting about using money –
3. Roll The Coins
Many banks offer free coin rollers to customers who want to deposit substantial change.
While you may need to invest some effort in rolling the coins yourself, this approach eliminates the expensive option of using Coinstar.
Once you’ve successfully rolled the coins, you can then deposit them at the bank. You can take the help of others, perhaps even your children, and offer a small tip in return!
4. Donations To Charity
If your primary goal is to clear your house of coins and you’re not overly concerned about the monetary value, you can go for a charitable contribution.
But wait! If you want to avoid Coinstar fees for increasing your cash, the charity donation option may need to align with your objectives.
This option appeals to those interested in doing charity because it doesn’t charge fees.
Coinstar deducts a 10% processing fee for national charities & a 7.5% processing fee for regional charities from your donation amount.
You should know that charitable donations are tax-deductible. So, you need to retain the donation receipt for your records.
Now, you’re aware of how much does Coinstar charge and how to avoid fees. So, let us know how you can purchase Bitcoin at Coinstar.
Purchasing Bitcoin At Coinstar
Coinstar has introduced a new service in collaboration with the popular cryptocurrency exchange platform, Coinme. Coinme specializes in facilitating the buying and selling of popular cryptocurrencies.
Coinstar’s partnership with Coinme lets you purchase Bitcoin directly at their kiosks.
Bitcoin is the most widely recognized and accepted cryptocurrency across various industries.
Remember that you can’t use your coins to buy Bitcoin; only cash is accepted.
Let us look at the complete process of buying Bitcoin. Follow these steps:
- Locate a Coinstar kiosk that is partnered with Coinme.
- Choose the “Buy Bitcoin” option, agree to the transaction terms, and provide your phone number.
- Insert your cash (up to $2500) into the cash acceptor.
- You’ll receive a voucher containing a Bitcoin redemption code.
- If you want to claim your Bitcoin, visit coinme.com/redeem, where you can create an account and redeem your cryptocurrency.
See how a Redditt user get bitcoins at Coinstar –
AmazonCash Facility At Coinstar
We all know that Amazon holds a dominant position in the retail industry. Amazon constantly innovates, and one of its offerings is a unique payment method called AmazonCash.
Coinstar has partnered with Amazon to enable their kiosks to cater to AmazonCash users.
Across the United States, you’ll find newly deployed Coinstar machines designed to facilitate the addition of cash to your Amazon balance through AmazonCash.
This collaboration showcases how Coinstar continually enhances their machines’ value for their customers.
Now, let us know how you can use Coinstar for small business.
Using Coinstar For Small Business
Small businesses often require a method to convert the loose change from their cash registers into usable cash. As visiting a bank for this purpose can be time-consuming, Coinstar offers a convenient solution.
This solution is particularly for business owners already out purchasing supplies. Moreover, Coinstar mentions on its website that its machines suit small businesses.
This service can be highly beneficial for those who need a fast and efficient means of converting coins into cash, even if there’s a fee involved.
Additionally, it’s an excellent option for businesses interested in using their accumulated change for charitable contributions.
Now, you’re aware of how much does Coinstar charge, ways to avoid fees and other important topics. So, let us know the pros & cons of Coinstar.
Pros And Cons Of Coinstar
Here are the pros and cons of Coinstar:
|+ Coinstar machines are efficient and can quickly count and sort your coins|
+ Widely available in grocery stores and supermarkets
+ Offers multiple redemption choices, including cash, gift cards, and charitable donations
+ Suitable for small businesses that need to convert change from cash registers into cash quickly
|– Fee they charge for their service|
Does Coinstar Seems Safe To Use?
Yes, Coinstar is safe to use. It is a well-established company operating coin-counting kiosks for many years. They have a track record of providing their services reliably.
When you use a Coinstar machine, your transactions are typically secure. The machines are designed to count and process coins accurately and have security features to prevent tampering.
Coinstar machines are user-friendly and come with clear instructions on how to use them. You just follow the on-screen prompts to complete your transaction.
Coinstar kiosks are often located in well-traveled, public places like grocery stores and supermarkets. This physical presence adds to their legitimacy and accessibility.
Now, let us see how to find a Coinstar machine near your area.
Finding Coinstar Machine Near Your Area
Coinstar machines are readily available worldwide and can be found in most major grocery stores.
According to Coinstar, approximately 90% of the U.S. population resides within a 5-mile radius of a Coinstar kiosk.
To locate a Coinstar kiosk in your area, you simply use the Coinstar kiosk finder tool. Enter your zip code or city, & it will display nearby stores with a Coinstar kiosk.
For added convenience, you can also contact local stores to inquire about the availability of a Coinstar kiosk. This way, you can avoid the inconvenience of transporting your coins to a machine that may be out of order.
As you know, how much does Coinstar charge. Let me disclose the tips for utilizing the Conistar for the first time.
Strategies For Using Coinstar For The First Time
Here are the tips and strategies to use Coinstar for the first time:
- Choose an eGift card because it doesn’t charge any fee.
- The digital screen tells you how many coins you have, like quarters, pennies, dimes, and nickels.
- Sometimes, the Coinstar machine spits out coins that it couldn’t read. So, make sure you grab them.
Now, let us look at some FAQs on how much does Coinstar charge.
FAQs (Frequently Asked Questions) On How Much Does Coinstar Charge
1. How much does Coinstar take out of $100?
The Coinstar machine deducts 11.9% as a fee. Therefore, if you insert $100 into the machine, you’ll receive $88.10 in return.
2. Is Coinstar worth it?
Yes, Coinstar is totally worth it. It helps you convert your loose change into more convenient forms of currency. But you must pay 11.9% of the money you put into the machine.
3. Do all Coinstars charge the same?
No, the charges of using Coinstar vary according to the location.
4. What is the average transaction on Coinstar?
The average transaction on Coinstar is $30.
5. Is Coinstar free to use?
Coinstar is free to use. However, you need to pay some fees for their service. When you opt for a cash voucher, the Coinstar machine tallies your coins and swaps them for cash. However, there will be an associated fee for this service.
Final Thoughts On How Much Does Coinstar Charge
Coinstar typically charges a fee of approximately 11.9% of the total value of the coins exchanged for cash. While the convenience of Coinstar kiosks is undeniable, this fees can significantly reduce the amount of money you receive.
If you want to maximize your value using Coinstar, consider alternative options, such as exchanging coins for gift cards or making a charitable donation if those options align with your preferences.
Banks also offer coin counting services, and if you’re a bank member, you can avoid fees altogether.
It’s essential to weigh the convenience of Coinstar against the associated fees and determine the best approach for converting your loose change into a usable form of currency.
I hope this article on how much does Coinstar charge sounds helpful!