Learn how to locate the nearest Coinstar machines and exchange pennies without paying the fees!
The first savings account in every child's life is a piggy bank full of pennies. Fortunately, this amount of coins accumulate over time and needs to be cashed out.
When you want to empty your years' worth of coins for the first time, you'd likely go to the bank. While that is a viable option, it is just preferable to search for a Coinstar kiosk near me.
This post explains how to exchange coins into cash without spending extra money while locating the most convenient coin exchange machine near me.
What Is a Coin Machine?
As the name suggests, a coin counter counts your collection of coins and gives you cash back. In some cases, you may get the entire value back, while in others, you might have to pay a fee.
The Coinstar company is the leading provider of this service in the US. Finding a Coinstar near me now in a supermart or grocery store is easy.
These coin machines near me stand out thanks to their vibrant green appearance and enlarged size.
Behind-The-Scenes of a Coinstar Near Me
The coin exchange procedure is quite simple. All you have to do is deposit your collected coins in the machine, and you should get compensation equivalent to your pennies.
It’s not necessary to get cash back in return since you can exchange through three different methods:
- Cash (Local Currency)
- An eGift Card
- Charity of your choice
The coin change machine near me does most of the work for you. The machine sorts out the coins verifies their authenticity and compute the financial total. All you need to do is walk up to the machine and watch the magic happen!
Steps to a Coin Exchange
Follow these steps to ensure that your penny swap goes smoothly once you reach the nearest Coinstar:
- You can begin by initiating the machine and following the instructions on the touchscreen.
- The next step is to choose a recollection method (cash, gift card, or charity).
- Don't forget to skim the terms and conditions before accepting them
- Once you have prepared the machine for the exchange, you can now place your loose pennies in it. Remove any debris or mini items from your coins, as they can clog up the machine
- You will now see how many coins you have accumulated on the screen.
- Make sure you keep an eye out for coins that have been rejected. Then, you can register them back into the machine and check whether they are accepted.
- Finally, if you request a cash exchange, the machine will give you a voucher for cash withdrawal. However, the choice of an eGift card will provide you with a code that you can use at any time at shopping/restaurant outlets.
How To Locate The Closest Coinstar Near Me
There are more than 17000 nearby Coinstar locations within the US. This means a large population of the nation lives extremely close to a coin exchange machine. Despite that, it can still be challenging to locate the device if you don't know where to look.
1. Stores/ Grocery Marts:
Traditionally, a coin machine is located near the customer service operators in a grocery mart. There are several stores that have a Coinstar machine in their branches:
- King Soopers
- Food 4 Less
- Winn Dixie
- Neighborhood Market
Aside from currency exchange, few banks also offer coin exchange services as well. However, the swap options are limited to cash only. Unfortunately, banking systems require you to count your change in advance and bring them in rolls.
Additionally, banks often require an exchange fee for the service if you are not their clients. It’s quite common to pay a small percentage of the swap as a fee. There are ways to avoid this. However, we’ll get to that in a bit.
The banks that offer free coin exchange services are:
- American Eagle Credit Union
- Westerra Credit Union
- People’s United Bank
- JBT Bank
- First County Bank
- Hancock County Savings Bank
- TCF Bank
- Shelby Savings Bank
- Apple River State Bank
- Glenview State Bank
- State Bank of Dekalb
- Manasquan Bank
There are only limited banks that offer penny exchanges to non-customers. However, it is not without its fees.
How Much Does It Cost To Use Coinstar?
Like every currency exchange service, a coin star near me charges its customers for carrying out the deed. This is usually an 11.9% fee of the total accumulated coins.
A coin change machine near me is an efficient way to save time and have your pennies converted. You do not have to waste time counting them and submitting them to the customer service kiosk.
These machines need maintenance and remove a lot of the hindrances to coin exchange processes. Hence why it requires a fee.
How To Avoid The Coinstar Fee
If you are visiting the coin counter near me every once a year or so, you might not notice the fee deduction due to the large total. However, for regular coin machine users, a fee for every use will be more costly than anticipated.
While most service providers require a small amount of money for a fee, there are ways to get around it.
The best method to do so is by opting for withdrawal options other than cash.
1. E-gift Cards/ Store Vouchers
You can use your accumulated coin value and exchange it for an e-Gift card at various stores. This e-Gift card can be used at certain restaurants and stores. But, most of the time, it’s for the grocery mart the kiosk is located at.
So, if you exchange your coins at the nearest Coinstar in a Walmart, you get a gift voucher that can be used in Walmart.
There is no fee deduction from the total value if you receive a gift card in exchange for your coins. You get the entire sum as it is. This is useful to the shoppers who regularly visit various marts and stores as they can easily redeem it.
Another way to take advantage of the gift card is to check out your penny savings before a vacation shopping spree. This way, you can use your gift card in specific locations for the needed items.
There are a number of stores that can help you utilize your gift card voucher, including Amazon, Applebee’s, iTunes, Chuck E. Cheese, Nike, Domino, etc. You can also redeem your voucher points for traveling purchasing through companies like Hotels.com or Southwest Airlines.
2. Charity/ Donation
Alternatively, you can donate to avoid paying the fees. For example, if you have collected a lot of coins and it seems like extra cash anyway, why not donate it to those who can benefit from it the most?
You can transfer your pennies to a charity of your choice by selecting the donate to charity option at the coin change machine near me. Several reliable options are present, including UNICEF, American Red Cross, Feeding American, WWF, United Way, etc.
Remember, you might want to keep the donation receipt saved as it can help you during the taxes.
What Banks Have Free Coin Counting Machines Near Me
As we mentioned earlier, many banks offer coin exchange services. These services are usually free of cost for the loyal customers of the corporation.
If you are a non-customer wanting to use the coin machine at the bank, you will be required to pay a 5% to 10% fee from your total value. Moreover, these banks will need to roll your pennies in advance to speed up the process.
You can avoid the fee by separating your change in advance and going to the bank where you have a membership.
However, as coin exchange services as becoming limited, your bank might not offer this swap. Thus, it’s best to call your preferred branch and confirm if they have a quarter machine near me.
The Bottom Line
With digital payment and cards becoming the mainstream payment methods, pennies are becoming less and less common.
It would therefore be a good time to head to a coin exchange machine near me if you have any stashed collections of loose change. Whether it's a gift voucher or cash, it is still more useful and practical than a coin piggy bank.
It is essential, however, to research the supermarkets and stores to see whether there is a coin changer near me. Then, all that's left to do is take your bags of coins and head out.
It's time to see the results of all those years of saving!