Yes, Coinstar machines, which are often found in Walmart stores, typically charge a fee if you choose to receive cash for your coins.
Here’s a breakdown of how the fees work:
- Cash Option: When converting coins to cash, Coinstar charges a service fee, which can be up to 12.9% plus a $0.99 transaction fee. This means if you exchange $100 in coins, you could receive roughly $88.10 after the fee is deducted.
- Gift Card Option: You can avoid the cash conversion fee by selecting an eGift Card for a specific retailer as your payout method. Coinstar partners with various stores and restaurants, and eGift Card options may vary by location. Some gift card options might have varying fees, so it’s best to check at the kiosk.
- Charity Donation Option: Coinstar also waives its fee if you choose to donate your coins to charity through their kiosks. Coinstar retains a processing fee from the donation amount (10% for national charities and 7.5% for regional charities).
In conclusion, using a Coinstar machine to exchange your coins for cash at Walmart (or any location) will incur a service fee. However, you can avoid this fee by opting for an eGift Card or donating to charity.
Where can I bring my coins for cash for free?
Banks: Many banks will let you exchange your coins for cash, though you may need to be an existing customer to avoid a fee. …
Credit unions: Like banks, your credit union may agree to exchange your coins for cash for free if you’re a member.