Generally, using a coin-counting machine, like those from Coinstar, will involve a fee.
Here’s a breakdown of common fees:
- Cash Redemption: If you choose to convert your coins into cash, Coinstar typically charges a service fee up to 12.9% of the total value of your coins, plus a transaction fee, which may be $0.99.
- Gift Cards: You can often avoid the fee entirely by opting to receive an eGift Card instead of cash. Coinstar partners with various retailers and restaurants, offering a 0% fee for this option.
- Charity Donations: Donating your coins to charity through Coinstar also allows you to bypass the direct fee. However, Coinstar does retain a percentage of the donation for processing, with a 10% fee for national charities and 7.5% for regional charities.
It’s worth noting that:
- Fees can vary by location , so it’s always a good idea to check the specific Coinstar machine or their website for details.
- Some banks and credit unions may offer free coin-counting services for their members, or at least a lower fee than the typical coin machine, [according to U.S. News & World Report] . However, it’s increasingly less common for banks to have these machines.
In summary, the amount a coin machine charges depends on how you choose to receive your money. Converting coins to cash usually incurs a fee of up to 12.9% plus a transaction fee , while gift cards and charitable donations offer fee-free alternatives (though processing fees may apply to donations).
How do I avoid the fee at Coinstar?
I can help with that. Opt for eGift Cards. To sidestep the Coinstar fee, opting for an eGift Card with a 0% fee is your best bet. …
Donate to charity. Coinstar also waives their fee when you donate directly at a kiosk (bonus: it’s a tax deduction).
Where can I take coins for cash for free?
Good point! 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.
How much do they charge to use a coin machine?
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.