Coinstar kiosks charge fees for converting your coins into cash, but there are ways to avoid these fees.
- Cash: Coinstar charges a service fee of up to 12.9% plus a $0.99 transaction fee for converting coins into cash. Fees may vary by location.
- eGift Cards: If you choose to exchange your coins for an eGift Card from a participating retailer (e.g., Amazon, Applebee’s, Best Buy, etc.), there is no fee.
- Charitable Donations: If you donate your coins to charity through Coinstar, you will not be charged a fee. However, Coinstar retains a percentage of the donation amount (10% for national charities, 7.5% for regional charities).
- Cryptocurrency: Coinstar also offers an option to convert coins to cryptocurrency, and fees for this service can be higher, reaching up to 16.1% depending on the provider (Coinme or Zero Hash).
- Choose eGift Cards: This is the easiest way to avoid fees at a Coinstar kiosk. Check the available eGift card options at your local kiosk as they can vary.
- Donate to Charity: If you’re feeling charitable, donating your coins through Coinstar is another fee-free option, plus it’s tax deductible.
- Use your bank or credit union: Many banks and credit unions offer free coin-counting services for account holders. Some may require you to roll the coins yourself, which can be done with free coin wrappers provided by the bank.
- Use coins for purchases: Some self-checkout kiosks at grocery stores and other retailers accept coins for payment, allowing you to use your change directly.
What is the cheapest way to turn coins into cash?
I can help with that. Rolling coins yourself is the most cost-effective method, requiring only paper wrappers that banks provide for free. Many retailers accept rolled coins for purchases, eliminating exchange fees entirely.