How do Coinstar machines count coins?

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 much commission do Coinstar machines take?

Coinstar machines charge a fee of 9.9\%. That means for every £1 you feed in, 9.9p will be taken off. This may be a price you are happy to pay for the ease of having your coins sorted automatically but it is something to consider before you cash in your change. Visit the Coinstar website to find your nearest machine.

How accurate are coin counting machines in banks?

On average, the coin counters were off 18.5 cents for every $300. For most of us, she says that’s no big deal. But when these machines are in banks and credit unions, and often charging a percentage, she would hope they are accurate. All the Coinstar machines take 10.9 percent of what you put into it.

What does Coinstar do with the coins?

Coinstar’s focus is the conversion of loose change into paper currency, donations, and gift cards via coin counter kiosks which deduct a fee for conversion of coins to banknotes; it processes $2.7 billion worth of coins annually as of 2019.

Can you trust Coinstar?

But at Coinstar machines, you dump your coins in and they give you cash back, charging a 10.9 percent processing fee on your total. You expect 100 percent accuracy for what you put in and we wanted to hold them to it. We brought in $25 in coins and counted it twice for accuracy.

How much does the coin machine charge at Walmart?

Yes, Walmart does have Coinstar Kiosks in most of their stores which can be found toward the front of the store next to the checkout counters. When using a Coinstar Kiosk at Walmart, customers will be charged an 11.9\% fee which can be avoided when selecting the “free gift card” option.

What’s better than Coinstar?

The fee-free restaurant and retail options include:

• Home Depot.
• Starbucks.
• Applebee’s.
• Amazon.
• Chili’s.
• Sephora.
• Lowe’s.
• GameStop.

Is Coinstar a ripoff?

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.