Coinstar fees: How to avoid them and keep more cash

If you've found yourself with a jar, cup, or even a piggy bank full of coins, you might think of a Coinstar kiosk to exchange those coins for cash or an eGift Card. But it comes with a price – in fees. Before you head to a kiosk, here's what to know about Coinstar fees to keep as much cash as possible. 

Coinstar fees: Is there a charge to use kiosks?

The short answer is: Not always.

Coinstar offers a convenient way to convert your coins, but the cost varies based on how you receive your money. For the convenience of converting your coins into cold-hard cash, Coinstar charges a service fee of up to 12.9%, plus a $0.59 transaction fee. (Note: Fees may vary depending on the Coinstar location.)

Why fees exist

The fees associated with using Coinstar's cash option help cover the costs of counting and sorting the coins, and maintaining the kiosks. 

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How do I avoid the Coinstar fee?

1. Opt for eGift Cards

To sidestep the Coinstar fee, opting for an eGift Card with a 0% fee is your best bet. You bypass the service charge and get funds to use at specific retailers and restaurants.

Coinstar offers eGift Cards from multiple brands and retailers, such as AMC Theaters, Amazon, Apple, and The Gap. Note that retailers and offers may differ by Coinstar kiosk location and eGift Cards options availability may vary by retailer. 

2. Donate to charity

Coinstar also waives their fee when you donate directly at a kiosk (bonus: it’s a tax deduction). However, Coinstar does retain a 10% processing fee from your donation amount for national charities and a 7.5% processing fee for regional charities. 

Coinstar alternatives

If you don’t have a kiosk nearby or you’re not into the eGift Card option, here are some other ways to convert your coins to cash minus the Coinstar fees.

• Banks or credit unions. Some banks and credit unions have coin machines where you can deposit your change directly into your account or have a teller transfer the value. It’s usually free if you’re an active account holder. 

• Grocery self-checkout. Take your coins to the supermarket and use them to pay for groceries in the self-checkout machines. 

• Start a money-saving challenge! Get the whole family involved. Show kids how every bit counts with a penny challenge. Or, for larger goals, join forces to save $5,000 in three months. 

• Roll ‘em up. Do it the old-fashioned way and sort your coins into rollers. Banks usually offer free coin wrappers so you can sort loose change yourself and deposit them at the bank for free. 

• Donate. Donations are tax-deductible! Got a bunch of change? Give to an organization or use it for tips at your favorite local establishments. 

Making the most out of your Coinstar visit

Before you visit a Coinstar kiosk, here are a few tips to make it worth your while:

• Check the list of available eGift Card options on Coinstar's website to see if there's a retailer you like.

• Prepare your coins by removing any foreign objects, dirt, and debris.

• Consider the fee when choosing between cash and an eGift Card; fees vary by location. 

• Visit the kiosk during off-peak hours to avoid long wait times.

• Look for promotions or special offers at Coinstar kiosks offering reduced fees or free transactions during certain periods.

• Remember to select how you want your money and to take your paper voucher! 

• For cash, take your voucher to the cashier and redeem it the same day of issue. 

• For eGift Cards, use the unique code printed at the top of the voucher anytime to shop at the retail store, restaurant, or online.

• For donations, keep the receipt for your records.

FAQs about Coinstar

Is using Coinstar worth it?

It’s probably worth using Coinstar for convenience if you opt for the no-fee eGift Cards, especially if you know you’ll use a specific retailer. But it’s probably not worth it if you want cash or won’t use an eGift Card – especially if you can convert your money for free at a local bank or credit union. 

What is the transaction limit for Coinstar?

Technically, there’s no exact coin limit. But Coinstar recommends you contact their help center for assistance if you have more than $3,000 worth of coins to deposit. For cryptocurrency, Coinstar allows a maximum of $2,500 per crypto transaction.

Do Coinstar machines take pennies?

Yes, if it’s a standard penny. But they don’t take special coins such as Eisenhower silver dollars, 1943 steel pennies, pure silver, commemorative or foreign coinage.

How accurate are Coinstar machines?

According to Coinstar, their machines are accurate within one cent. 

Coinstar kiosks offer a practical solution for turning loose change into more user-friendly cash. Whether you go the eGift Card route for a no-fee option or decide cash is king despite the fees, understanding how Coinstar fees work can help you make informed decisions and get the most value out of your coins.

This blog post is provided "as is" and should not be relied upon as a substitute for professional advice. Some content in this post may have been created using artificial intelligence; however, every blog post is reviewed by at least two human editors.