They are the ones responsible for providing you with cash. You then take this receipt up to the customer service counter of the store it’s located in. If you select cash, that’s when you get the highest fee taken out.īy selecting cash, you get a printed receipt from the machine. You can choose to get paid with cash, get a gift card to certain store (see below), or donate to a charity. Once it counts the coins, it gives you a total. It will even drop out a few in a little tray that it couldn’t figure out (sometimes those coins might not be accepted currency). When you drop your coins in their counter, it takes some time to count each coin. Coinstar doesn’t give you money from their machine. Most don’t understand how you can put money in and then it give you money back.
I get this question quite a bit, so I figured I would address it. How doesn’t love that? How Do Their Counting Machines Work?
Closest coinstar to my location full#
Ouch! On the upside, you get to come in with a bag full of change and walk out with a fist full of cash. You can literally watch the convenience fee right in front of you. You can even watch as the fee comes out when your coins are counted. This number varies from store to store as they might subsidize the processing fee, but this is the standard fee as indicated by Coinstar. Yes, when you use a Coinstar machine and want to get cash for your coins, they take nearly $13 for every $100 in coins you deposit. Coinstar’s fee is 12.5% of your total deposit. It’s so easy, but they don’t do it for free. These machines make it super easy for you to go in, dump your coins in their counting system, and then collect the cash. You can find a majority of them at grocery stores like Kroger and Walmart, but also are at some other smaller chains around the country. I’m sure most of you are familiar with Coinstar, but for those who aren’t, this company produces coin counting systems that are placed in stores. I think we might have to blame our consumer culture of switching to plastic, the expense of keeping coins, and companies like Coinstar. I hate how it’s so much of a pain to deposit or exchange real legal tender. There are others like TD Bank which charges a fee to use the machine. Some banks have coin counting machines in their lobby, but they might only be for account holders. I still see a lot of chatter on forums about banks around some towns not accepting coins at all. I get a lot of emails about the subject to this day and that post was over six years ago. One of my most popular posts on this blog was when I wrote about how it seems many banks don’t accept coin deposits anymore. This makes it easy to deposit coins, outside of paying that 12.5% processing fee. Now when I look for Coinstar near me, I find them in so many places, including most Walmarts.
When I would have a ton of coins, it used to be harder to find a machine to deposit them.
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