Quick Answer: Do Coinstar Machines Rip You Off?

CoinStar is a Rip-Off.

If you shop at a grocery store or places like Walmart, you’ve likely seen the name Coinstar.

These big, green, coin-counting machines promise to turn your water-bottle-full-of-pennies into cold, hard cash–all without the hassle of paper rolls and endless counting.

Is the Coinstar machine accurate?

Though the Coinstar machines delivered accurate counts, several bank machines shortchanged the Rossen team by various amounts. In many cases you’re charged a fee for using a coin-counting machine — anywhere from 8 to 10 percent — so if the machine isn’t accurate, you’re losing even more.

What banks have free coin counting machines?

Which Banks Have Coin Counters? Chase, Bank of America, Citibank, Capital One, PNC Bank, TD Bank, BB&T and other major national banks no longer provide coin-counting machines to customers or to non-customers.

Do Coinstar receipts expire?

Refunds only provided for unused Cards with the original receipt. This Card does not expire, nor does Starbucks change fees. Complete terms and conditions available on our website.

What is Coinstar fee?

Coinstar’s fee is currently set at 11.9 percent of the value of the coins you’re exchanging. Basically: That’s nearly $12 for every $100 in coins you feed to the machine. You’d have to guess how much change you have accumulated to calculate the Coinstar fee.

How can I exchange coins for cash?

Instead, here’s what to do with that spare change.

  • Cash It In at a Coinstar Machine.
  • Use It.
  • Roll It Up and Cash It In at the Bank.
  • Deposit It at the Bank.
  • Designate It All for One Purpose.
  • Turn It Into a Game.
  • Get creative!
  • Look for Collectible Coins.

Where can I cash in loose change for free?

14 Places to Get Cash for Coins for Free (or Cheap)

  1. Places to Get Cash for Coins. Your Local Bank.
  2. Coin Counting Machines. Walmart. Kmart. Kroger. CVS. ShopRite. Hy-Vee. Meijer. Albertsons. Harris Teeter. Hannaford. Cash Wise. Target. Lowe’s.
  3. Summary.

Are there any free coin counting machines?

Here are some banks that openly provide coin counting services: U.S. Bank will exchange their customer’s change for cash without any fees. Wells Fargo has been removing their coin counting machines, but they still accept rolled coins from customers. However, they won’t accept rolled coins from non-customers.

Is there an alternative to Coinstar?

None of the nation’s Big 4 banks — Bank of America, Chase, Citibank and Wells Fargo — nor the super-regional banks like PNC or CapitalOne offer free Coinstar alternatives any longer. Regional bank BB&T did offer free coin counting machines for customers at some locations as recently as last year.

Can I exchange coins for cash at any bank?

Some banks will accept coins, but charge a small fee for exchanges if you don’t have an account with them. But before you roll anything, speak with your bank and double check they’ll take them and that they have to be rolled.