If you’re like many Americans, you’ve likely got some sort of container in your home that you use to hold your spare change. And you’ve likely never counted out how much that change is actually worth. For most people, that jar of spare change adds up to a few extra dollars for a drink with dinner out or to cover their delivery fees for a night in. However, for some people, their change can help pay a portion of their rent or even a vacation.
No one wants to walk around caring their jar of loos change and most landlords won’t accept payment in rolls of quarters. The solution is to turn your coins into paper money using a coins-to-cash machine. These machines are fast, simple, and easy to use.
In this guide you’ll learn all about these machines, how they work, ways to reduce or avoid paying fees, and how to go about finding a “coins to cash machine near me”.
How Coins-to-Cash Machines Work
A coins-to-cash machine is a kiosk, somewhat resembling an ATM, that accepts your loose change and provides you with cash in the form of paper money or a digital gift card. The process is very simple: you pour your unsorted loose change onto the tray which directs the coins into the machine. The machine automatically sorts and counts them and then dispenses a voucher that you redeem for cash from the business housing the machine. You can also elect to get your cash as a gift card.
These machines are nearly ubiquitous in the United States and Coinstar is perhaps the most popular and best-known brand. You can find their machines at many gas stations, convenience stores, or credit unions.
Does Coinstar Have a Limit?
To avoid running out of cash, Coinstar limits users to $500 per transaction.
Avoiding Coinstar Fees
To cover the cost of providing cash as well as maintaining their kiosks, Coinstar charges a 12.9% service fee and $0.59 fee for each transaction. Fortunately, there are a few ways to avoid this fee. The first is to receive a digital gift card instead of paper money. Coinstar waives the service fee if you choose this option. The company partners with many businesses such as Amazon, AMC Theaters, and Apple.
Coinstar will also not charge you a service or transaction fee if you choose to donate your money directly at the kiosk. However, they will still take a reduced fee out of your donation.
Finding a Coin-to-Cash Machine Near You
Finding a Coinstar kiosk near you is easy. In fact, there is likely one of their machines at your nearest convenience store. Coinstar’s website includes a helpful page that lists their locations. You can enter your city, state, or zip code to see the nearest options displayed on a map. If you enter a specific address, Coinstar will find you the location closest to that address, removing any need for you to decide between multiple options.
When you find yourself with a jar full of loose change, using a coin-to-cash machine is the easiest and most practical solution to turn it into cash. Simply find the kiosk closest to you, pour in your coins, and decide how you want to redeem your cash. In a few short minutes you can transform that loose change into practical dollar bills.