How Much Money Do The Coin Machines Take
Coinstar is a pop coin counting and sorting machine that is available in many grocery stores and most Walmarts around the state. They fifty-fifty have a squeamish international presence. They provide the service of counting your unrolled coins and getting cash immediately in the affair of minutes. This does come up at a cost of a fee, which is currently 11.nine%. It'south the price for convenience. If are y'all are looking for a Coinstar auto near you, you can use our handy tool down in this article.
*Of import Notation: While the Coinstar fee is eleven.ix% nationally, it's up to each retailer who carries the machine to the rate they will accuse. Please pay attention to the screen when y'all are counting your coins at your local Coinstar location. It could be less or upwards to the 11.9% fee. From what we accept seen, this fee stays pretty close to the one Coinstar indicates.
On our quest to go people to realize they need to cease paying bank fees, we also wanted to share that with people who apply the popular Coinstar coin counting machines. I've used them many times in the by, but ever hated paying them to process the coins.
Well, after looking effectually, I was able to find a mode to become them to process my coins for free and information technology'south not illegal. It'southward actually part of their organization. The caveat is you don't get your coins dorsum in cash, but in a dissimilar form. Read beneath to see how yous can skip the Coinstar fee and salve yourself some money in the long run.
When I would have a ton of coins, it used to be harder to find a machine to eolith them. In that location were but a few. At present when I look for Coinstar well-nigh me, I detect them in then many places, including most Walmarts. This makes it easy to deposit coins, exterior of paying that 11.ix% processing fee.
I of my most popular posts on this blog was when I wrote about how it seems many banks don't accept money deposits anymore. I get a lot of emails most the subject to this twenty-four hour period and that postal service was over six years ago. I nonetheless meet a lot of churr on forums virtually banks around some towns not accepting coins at all.
Some banks have coin counting machines in their lobby, simply they might but be for account holders. There are others similar TD Bank which charges a fee to utilise the machine. I hate how it's and so much of a pain to deposit or substitution existent legal tender. It shouldn't be this manner. I retrieve we might accept to blame our consumer culture of switching to plastic, the expense of keeping coins, and companies like Coinstar.
What is Coinstar?
I'thou certain nearly of you are familiar with Coinstar, only for those who aren't, this visitor produces coin counting systems that are placed in stores. You lot can find a majority of them at grocery stores like Kroger and Walmart, but besides are at some other smaller chains around the country. These machines make it super easy for you to go in, dump your coins in their counting arrangement, and so collect the cash. It's so easy, but they don't do it for gratuitous. Coinstar'due south fee is 11.9% of your total deposit.
Aye, when yous employ a Coinstar machine and want to get cash for your coins, they take nearly $12 for every $100 in coins you eolith. This number varies from store to store as they might subsidize the processing fee, just this is the standard fee equally indicated by Coinstar. You can even watch as the fee comes out when your coins are counted. Y'all can literally lookout man the convenience fee right in front of y'all. Ouch! On the upside, you lot go to come in with a bag full of change and walk out with a fist full of greenbacks. How doesn't love that?
How Does Coinstar Work?
I become this question quite a bit, so I figured I would address it. Nearly don't sympathize how you tin put money in then it requite you money back. Coinstar doesn't give yous money from their car. When yous drop your coins in their counter, it takes some time to count each money. It will even drop out a few in a little tray that information technology couldn't figure out (sometimes those coins might non exist accepted currency).
One time it counts the coins, information technology gives yous a total. This is subsequently the 11.9% fee is taken out. You lot can choose to get paid with greenbacks, become a souvenir carte du jour to certain store (see beneath), or donate to a clemency. If you select greenbacks, that'southward when the fee is taken out. If you choose the other ii, no fee is taken from your coin amount.
By selecting greenbacks, you get a printed receipt from the auto. Yous then take this receipt up to the customer service counter of the store it'southward located in. They are the ones responsible for providing you with greenbacks. Coinstar then pays the store. And so, Coinstar doesn't pay you lot directly. Their machines but count the coins, then give you a receipt to collect that cash.
But, who wants to pay almost 12% on their money? Not this guy, and so that's why I'm showing y'all how to bypass it!
Find a Coinstar Near You
If you are looking for a Coinstar kiosk virtually you, their own website makes it pretty easy. You just become to the Find a Kiosk page on their site and put in your accost or zip lawmaking. The map is pretty expert and kept updated by Coinstar themselves.
You tin also use our handy grade below to put in your address and it volition go on the Coinstar site and search your location for you.
Below are some national store chains that provide access to Coinstar machines. Not all of them have the same fee structure, so brand sure to check the kiosk when you get there.
- Walmart
- Harris Teeter
- Food Lion
- Albertsons
- CVS
- Kroger
- Meijer
- Ralph's
- Winco
Bypass the Coinstar Fee
In that location is a unproblematic manner to non pay a fee when using Coinstar and they provide the options right to you. I hate having to pay money for convenience products, especially when the coin deposit market seems undeserved by those who should be serving it virtually. Banks! If all nosotros had were Coinstar machines, and then the fee might be lower. Either way, who wants to surrender 12% of their money just to have it counted and exchanged for bills? I don't!
Coinstar does requite you the power to bypass their fee. Instead of getting greenbacks for your coins, you tin choose to get an e-gift card instead or you tin can choose to donate the balance to a clemency (run across below). These are for many large and well-known companies. If you need to get some shopping done, and so you can simply choose those instead. Their list of retailers have dropped a chip, and then I desire to prove you which ones you can choose to bypass the Coinstar fee!
Even Coinstar talks about information technology on their site (information technology's under the Help Center).
Is in that location a charge to use a Coinstar kiosk?
Not always. Free coin counting is available at most locations in the United states of america if you cash in your coins for an eGift Carte du jour. We have more than 20 stores and restaurants to cull from. If you lot decide to turn your coins in for cash, there is an eleven.9% money processing fee. Fees may vary by location.
Not all Coinstar kiosks provide all of the gift cards listed in the table below. They frequently update the retailers here and some only provide ane option similar Amazon.
If you're going to go the Amazon gift card route, make sure you check out our virtually pop post on how to save the most coin on Amazon.
UPDATE: Coinstar has reinstated some eastward-cards back into the mix. This is the updated list.
| Retailer | Gift Card Limits |
|---|---|
| Amazon.com | Minimum amount: $5.00. Maximum amount: $1,000.00. |
| AMC Theatres | Minimum corporeality: $v.00. Maximum amount: $100. |
| Applebee'south | Minimum amount: $5.00. Maximum amount: $500.00. |
| Cabela's | Minimum amount: $5.00. Maximum amount: $500. |
| Chili'southward Grill & Bar | Minimum amount: $5.00. Maximum amount: $100.00. |
| Domino's | Minimum corporeality: $10.00. Maximum amount: $100. |
| Home Depot | Minimum amount: $5.00. Maximum amount: $2000. |
| GameStop | Minimum amount: $15.00. Maximum amount: $500.00. |
| Gap (Gap, Assistant Republic, Erstwhile Navy, Piperlime, Athleta) | Minimum amount: $ten.00. Maximum amount: $500.00. |
| Hotels.com | Minimum amount: $10. Maximum amount: $500. |
| IHOP | Minimum amount: $5.00. Maximum corporeality: $200. |
| iTunes | Minimum amount: $5.00. Maximum corporeality: $500.00. |
| Lowe'south | Minimum amount: $5.00. Maximum amount: $1,000.00. |
| Nike | Minimum amount: $5.00. Maximum amount: $500.00. |
| Majestic Entertainment Group | Minimum amount: $5.00. Maximum amount: $100. |
| Showtime | Minimum amount: $25.00. Maximum corporeality: $200.00. |
| Sephora | Minimum corporeality: $10.00. Maximum amount: $500. |
| Southwest Airlines | Minimum corporeality: $25.00. Maximum amount: $500.00. |
| Starbucks | Minimum amount: $five.00. Maximum amount: $500.00. |
| Steam | Minimum amount: $x.00. Maximum amount: $100.00. |
As you tin run across, all of them crave at least $5 to get an eastward-gift card. If you don't have enough coins to become a souvenir card, don't use Coinstar. You really should wait until you get more coins. There are a broad variety of retailers which are available to become eastward-gift cards. I recall this is the all-time way to deposit your coins and not pay a fee. If you lot shop places like Amazon.com, like I do, then this could be a good way to go rid of your coins and use your money for something you want. Since I'm a Prime number member, shopping at Amazon is easy for me and I don't mind using east-souvenir cards from my coins, which are sitting around collecting grit. No i likes dusty coins!
Here are the instructions from Coinstar near how to obtain an eastward-gift card from their kiosk.
Step one – At the kiosk, option the eGift Card y'all want. The pick of eGift Cards varies depending on location of the kiosk.
Footstep ii – Add coins to the tray, lift the handle, and guide coins into the slot. Some kiosks have bills likewise.
Footstep three – When the kiosk is done counting, you'll receive a printed voucher with a unique eGift Carte lawmaking—ready to apply online or in the store.
Donate Coins to Charity
Coinstar has also added some options on kiosk to donate your coins to clemency. Their list is quite small, but at least there are some options there. This ways you volition non be charged a fee for using the machine and all your money can go to charity. This could be a bang-up way to teach children nearly giving. Currently, Coinstar only has seven (vii) charities on their list. They include:
- American Reddish Cross
- Children'southward Miracle Network Hospitals
- Feeding America
- The Humane Club of the United states
- Leukemia & Lymphoma Guild
- Unicef
- United Way
- WWF (Globe Wildlife Foundation)
They indicate that not every clemency is available on all kiosks. You can go to their charity page and click each foundation to see where that donation option is available.
Now, I wish I didn't take to write an article such as this. Why exercise nosotros need to detect ways to use our coins without paying a fee? Why do banks get to say they won't take coins, when they are perfectly legal tender and I'm certain it might exist the police to accept them (not sure). What do we tell our children who accept piggy banks and want to deposit their coins? Do we have to take them to the closest Coinstar and show them how commercialism works along with convenience fees? I'm sure that won't exist a fun one to explain to your child when they run across their hard saved coins shrinking to a processing fee. That's not something I want to evidence my son.
If you take coins and you need to deposit them, but your friendly banking company won't take them, then have them to the closet Coinstar and use them to get an e-souvenir card. Bypass the stupid Coinstar processing fee and keep all your coinage. Why not treat yourself to your favorite retailer and use the coins for something for you. There is null wrong with splurging on yourself every once in a while!
*Update – A kind reader took the time to comment regarding Coinstar and Walmart. Y'all tin can use their coin counting machines and get a receipt to utilise toward your Walmart purchase. That's a good way of doing information technology besides, if you like shopping at Walmart.
Roll Your Own Coins
If you don't want to pay the fee for Coinstar and you don't need a gift card, why not attempt to roll your coins and accept them to the banking concern? Now, my banking concern doesn't accept coins much anymore (or they give me a actually hard time), so this would piece of work for me, but there are notwithstanding many banks that take no issues with taking coins. This is peculiarly true with credit unions. You can either go get rolling sleeves from the shop, or hit upwards Amazon like I would and search for coin rollers. Right to your door with almost no piece of work!
Get Better Savings Rates
If you're interested in doing away with any high bank fees, check out these top banks for better savings rates. You can also read our selection for the best savings rates you tin get from a savings account. Cease only getting 0.01% at big banks when online banks and credit unions are at present providing y'all with 10X more at a minimum. Who wouldn't desire to earn 10X more on their money?
Have yous always tried this method to bypass the Coinstar fee? Which retailer would you lot get a souvenir card to?
Source: https://www.debtroundup.com/avoid-coinstar-processing-fee/
Posted by: sanchezthatent.blogspot.com
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