Fees for using coin machines vary depending on the type of machine and how you choose to receive your money.
- Converting to cash: Coinstar typically charges a fee of up to 12.9% of the total coin value, plus a $0.99 transaction fee, [according to Coinstar] . Fees may vary by location.
- eGift Cards: Coinstar offers eGift cards from various retailers and restaurants without a service fee. Options and availability may vary by location and retailer.
- Donating to charity: You can donate to supported charities without incurring a fee for yourself. However, Coinstar retains a processing fee of 10% for national charities and 7.5% for regional charities from your donation amount.
- Direct bank account deposit: Some credit unions partner with Coinstar to allow direct deposit to your account, sometimes with lower fees (e.g., 5% for coins, $5.95 for cash).
- Free for customers: Many banks and credit unions offer free coin exchange services for their customers.
- Fees for non-customers: If you’re not a customer, banks may charge a small fee, typically ranging from $5 to $10.
- Coin wrappers: Banks usually provide free coin wrappers.
- Roll your own coins: Rolling your own coins using wrappers and depositing them at your bank is generally the most cost-effective method.
- Grocery self-checkout: Some supermarkets allow you to use coins to pay at self-checkout machines.
- Pay with coins at retailers: Many retailers still accept coins for purchases, though it might be cumbersome for large amounts. It’s advisable to check with the retailer beforehand, as businesses aren’t required to accept coins.
In summary, Coinstar machines are convenient but often charge fees for cash conversions. Banks and credit unions are a good option for free coin exchange if you’re a customer, though you may need to roll your coins. Rolling your own coins and depositing them at a bank is the most cost-effective method if you want to avoid fees entirely.
Where can I cash coins for free?
I can help with that. Most banks offer free coin exchange services to account holders, though you may need to roll coins yourself. Self-service coin-counting machines are more commonly found at local banks and credit unions than at national banks.
How much do they charge to use a coin machine?
Great question! You don’t have to count, sort, or roll your coins. Our big green kiosks are at grocery stores, so you can get cash conveniently, right on the spot. A service fee up to 12.9% + $0.99 transaction fee may apply. Fees may vary by location.
What is the cheapest way to cash out coins?
From my experience, Your local bank branch is a good place to exchange coins. The branch will typically give you coin wrappers for free. Credit unions or community banks are more likely to have free coin-counting machines for members. Coinstar machines are in many supermarkets, and Publix has its own machines.