If you've got a jar full of loose change collecting dust, you might be considering using a Coinstar kiosk to convert those coins into something more useful. Before you head to your nearest machine, it's important to understand exactly what Coinstar charges for their coin-counting service.
The fees can vary depending on which payout option you choose and your location, but knowing the costs upfront can help you make an informed decision about whether to use the service and how to potentially avoid fees altogether.
Standard Cash Conversion Fees
When converting coins to cash at Coinstar, you'll typically pay:
- Service fee of up to 12.9% of the total amount
- Additional transaction fee of $0.99
For example, if you're converting $100 in coins to cash, you could pay up to $13.89 in total fees. These fees may vary by location, so it's worth checking the specific rates at your local kiosk before proceeding with the transaction. You can find current rates by visiting Coinstar's cash conversion page.
Fee-Free Options Available
The good news is that you can avoid fees entirely by choosing to receive your coins' value in the form of an eGift card instead of cash. Coinstar partners with numerous popular retailers, including:
- Amazon
- Best Buy
- Starbucks
- iTunes
When selecting the eGift card option, you'll receive the full value of your coins with no service or transaction fees deducted. This can be an excellent choice if you regularly shop at any of the participating retailers.
Charitable Donation Fees
If you're feeling generous and want to donate your coins to charity through Coinstar, the fees are structured differently:
- 10% processing fee for national charities
- 7.5% processing fee for regional charities
How to Save Money on Coin Counting
To maximize the value of your loose change, consider these options:
- Choose the fee-free eGift card option
- Check if your bank offers free coin counting services (many still do for account holders)
- Roll coins yourself and deposit them at your bank
For more money-saving tips, check out our guide on smart ways to save money or find free coin counting machines in your area.
Final Words
While Coinstar's cash conversion fee of 12.9% plus transaction fee might seem steep, the service offers convenience and multiple fee-free options through eGift cards. Before using a Coinstar kiosk, consider whether you could benefit from choosing an eGift card option or if your bank offers free coin counting services. For the most current information about fees and services, you can visit the official Coinstar Help Center.
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Frequently Asked Questions
Is there a way to avoid Coinstar fees?
Yes, you can completely avoid Coinstar fees by choosing the eGift Card option instead of cash. Popular retailers like Amazon, Best Buy, and Starbucks offer fee-free electronic gift cards through Coinstar.
What is the total fee for getting cash from Coinstar?
Coinstar charges up to 12.9% of the total amount plus a $0.99 transaction fee when converting coins to cash. The exact fee percentage may vary depending on your location.
Does Coinstar's fee structure vary by location?
Yes, while the standard fee is up to 12.9% plus $0.99 transaction fee, the exact percentage can vary by location. It's recommended to check the fee at your local Coinstar machine before processing your coins.
What payment options does Coinstar offer?
Coinstar offers two main payment options: cash or eGift cards. While cash conversion includes service fees, choosing eGift cards from participating retailers is completely free of charge.
