While most coin-counting machines, like Coinstar, typically charge a fee for converting coins into cash, there are ways to avoid paying those fees:
- Convert to gift cards: Coinstar machines offer the option to convert coins into electronic gift cards for various retailers and restaurants, such as AMC Theaters, Apple, The Gap, and Starbucks, without incurring any fees. Coinstar’s website or the kiosk itself can provide details on available gift card options.
- Donate to charity: Another fee-free option offered by Coinstar is to donate your coins directly to participating charities. These donations are often tax-deductible, and Coinstar retains a percentage of the donation for processing, according to Greenlight card.
- Utilize self-checkout machines: Many retailers, including some grocery stores and gas stations like QuikTrip, have self-checkout machines that accept coins as payment. You can use this method to spend your change directly on purchases, avoiding any fees associated with coin-counting machines.
- Roll your coins and deposit at a bank: Many banks and credit unions accept rolled coins for deposit into your account without charging a fee. You can obtain coin wrappers for free at most bank branches, sort and roll your coins, and then deposit them at a teller. Some banks, like Chase, may even accept a limited amount of rolled coins from non-customers without charging a fee.
- Some banks and credit unions with coin-counting machines for customers: While most major banks have eliminated free coin-counting machines, some local community banks and credit unions may still offer this service to their customers for free. Examples include JBT, Manasquan Bank, and American Eagle Federal Credit Union. Non-customers might face a small fee for using these machines, [according to MyBankTracker] . You should check with your specific bank or credit union to confirm if they offer this service and what their policies are.
In summary, while Coinstar kiosks typically charge a fee for cash redemption, choosing the gift card or charity donation options allows you to convert your coins without a charge. Alternatively, consider rolling your coins yourself and depositing them at a bank or checking with your local community bank or credit union about their coin counting services.
Where can I cash in coins without being charged?
Yes, You Can Deposit Coins at Your Bank
Some banks, such as Wells Fargo, will exchange rolled coins for customers without a fee. Wells Fargo says it also offers free coin wrappers. Check your bank’s policy. Certain credit unions and community banks still have coin-counting machines.
Do any banks have free coin counting machines?
Some banks and credit unions offer free coin-counting services. Most limit this service to customers, and you’ll find some variations in how the services work. Some have self-service coin counters on site. Others restrict the amount of change you can convert in a single visit.
Is there a Coinstar that doesn’t charge?
Is there a charge to use a Coinstar kiosk? Not always. Free coin counting is available at most locations in the United States if you cash in your coins for an eGift Card with a 0% fee. We have more than 20 stores and restaurants to choose from – eGift Card fees vary by brand.