Coinstar Machines

[brainsmile]

Has anyone used them and are they worth the fee?

[gear02]

nah....plus I think they don't give you cash, they usually give you store credit or something...at least that's the case everytime I've seen it.

I rather just wrap them myself and deposit it.

[Memo]

I think tehy're worth it. They don't give you store credit, they give you a cash voucher. You take the slip to the customer service desk and they will exchange it for cash.

[johnnymk]

Definitely worth it. By the time you buy the wrappers and spend the time even with a coin dispenser, you will probably break even, but you would have spent hours wrapping them.
I recently cashed in $165 worth of coins. After wrapping the first $50 or so, I went to the supermarket and used the machine for the rest. They gave me cash for the coins minus the fee.

[JaQnAbOx]

Originally posted by johnnymk
Definitely worth it. By the time you buy the wrappers and spend the time even with a coin dispenser, you will probably break even, but you would have spent hours wrapping them.
I recently cashed in $165 worth of coins. After wrapping the first $50 or so, I went to the supermarket and used the machine for the rest. They gave me cash for the coins minus the fee.

:stupid:

[brainsmile]

how much is the fee?

[irwin]

Originally posted by brainsmile
how much is the fee?

Is there a charge to use Coinstar?
Yes. Coinstar charges an 8.9% processing fee in the United States, a 9.8% processing fee in Canada, and a 7.5% processing fee in the U.K. For our United States customers, this means you'll pay approximately 9 cents for every dollar of coins counted. Our customers tell us they are willing to pay a small service charge for the convenience and time-savings of not having to sort, count, roll and haul their coins to the bank.

[look_ma]

the fee is like 6-7% or more. I just go to the bank and say i would like to make a deposit. they cant reject money into your own bank account.

[brainsmile]

they usually won't accept loose coins in large amounts... they have to be rolled

[topane]

I wrap my quarters and take the rest to coinstar.

[attgig]

it's too high of a fee.

I'm bringing all my change next time i go to atlantic city... (or if pimlico decides to install slot machines, the drive won't be as long ;))

They'll give me cash for my change.

[brainsmile]

oh that's a good idea... maybe I'll pass by one of those indian gaming casinos...

[ray]

i get free coin rolls from my bank.

[ufcrusher]

Yep, I have used it a couple of times, but now I try to avoid it like the plague. I would rather save all of my quarters and nickels for the slots in vegas. The pennies and dimes ususally get emptied out every once and a while, but generally not through coinstar.

[Jeffbx]

My credit union has a coin sorter that they let customers use for free. I just bring in a big bag of unsorted coins, they dump them in there & it automatically counts & sorts for me.

You might want to check with your bank to see if they might offer the same service!

[WhiskeyPapa]

I've never had a bank refuse to dump my jars of coins in their sorter. I guess I've always just deposited the money into my checking account, so maybe that has something to do with it. Or maybe it's just the "Minnesota Nice" thing to do.

[whitak24]

i use coinstar for pennies. they just are not worth the effort to count and wrap. suppose my bank might take them, but i'm rarely there, and it's even more rare for me to be there during business hours (and i don't think the atm will take those coins :heh: )

quarters are zealously saved for laundry and nickels and dimes usually end up in parking meters. it all works out in the end...

[GilbertsGrape]

Originally posted by look_ma
the fee is like 6-7% or more. I just go to the bank and say i would like to make a deposit. they cant reject money into your own bank account.

exactly

[Joshua]

Commerce Bank over here on the right coast has "The Penny Arcade" which is basically a coinstar, but FREE!

They also give you up to $5 per month back to reimburse non Commerce Bank ATM transactions etc...

AND... Checking is %100 free... Even for businesses!

I love that place... :P finally we have something they don't have in Cali... I'm still pissed about Fry's! :P

[whitak24]

Originally posted by SnotRocket
Commerce Bank over here on the right coast has "The Penny Arcade" which is basically a coinstar, but FREE!

They also give you up to $5 per month back to reimburse non Commerce Bank ATM transactions etc...

AND... Checking is %100 free... Even for businesses!

I love that place... :P finally we have something they don't have in Cali... I'm still pissed about Fry's! :P
interesting.

i'll need a new bank when i move to nyc (currently my money is at an excellent, but regional, bank called flagstar (http://www.flagstar.com)). sounds like Commerce Bank is pretty good.

do you know how good their distribution of branches and ATMs in Manhattan is?

[Jihforce]

Originally posted by gear02
nah....plus I think they don't give you cash, they usually give you store credit or something...at least that's the case everytime I've seen it.

I rather just wrap them myself and deposit it.

Store credit? Where did you get that?
They just print you a receipt and you go to the cashier and cash it.
I've used it once. I think the fee is a bit too high, but it beats having to wrap your change and take it to the bank. Specially if you have a lot of it.

[Joshua]

They are relatively new so they have a lot of branches on the way. Here is the list of manhattan locations.

http://bank.commerceonline.com/information/branch_locations/manhattan.cfm




Originally posted by whitak24

interesting.

i'll need a new bank when i move to nyc (currently my money is at an excellent, but regional, bank called flagstar (http://www.flagstar.com)). sounds like Commerce Bank is pretty good.

do you know how good their distribution of branches and ATMs in Manhattan is?

[whitak24]

Originally posted by SnotRocket
They are relatively new so they have a lot of branches on the way. Here is the list of manhattan locations.

http://bank.commerceonline.com/information/branch_locations/manhattan.cfm

hey thanks man.

their closest branch would be ~20 blocks from where i'm at.....not too bad, especially since i don't anticipate going to the bank that frequently. (i'll be a poor student, so why would i need to go to the bank? :heh: )

[Joshua]

Don't worry man.. That's about 2 stops on the subway.. 'sides, like I said, they'll give you back up to $5/month for using non commerce ATMS. Between that and direct deposit for your paycheck (if you're working) and you'll be all set.


Originally posted by whitak24

hey thanks man.

their closest branch would be ~20 blocks from where i'm at.....not too bad, especially since i don't anticipate going to the bank that frequently. (i'll be a poor student, so why would i need to go to the bank? :heh: )

[Jenny]

I use Commerce Bank. Have for several years. We don't get $5 back. :(

[Joshua]

You should go down and talk to your branch manager. I didn't even ask for it, they just mentioned it as a perk. I didn't even believe them until *kaching* I see a $5 credit listed as ATM reimbursement on my statement.


Originally posted by Jenny
I use Commerce Bank. Have for several years. We don't get $5 back. :(

[brainsmile]

I'm gonna go check out my local Bank of America and see if they have a coin counter/sorter I can use

[OC]

I wrap quarters and take them to the bank, cuz that's quick and easy. Other coins get CoinStared.

-OC

[attgig]

Originally posted by Jenny
I use Commerce Bank. Have for several years. We don't get $5 back. :(

is that the same commerce bank in ny/nj area? cuz i think the commerce bank that snot is talking about only exists in ny/nj. check their website...might be a totally different commerce bank.

[Jihforce]

Originally posted by brainsmile
I'm gonna go check out my local Bank of America and see if they have a coin counter/sorter I can use

They'll probably charge you a fee to ask that question. Then charge you again to short your coins. If they don't have a machine, they'll charge you another fee for wasting their time asking them about that. :heh:

[xsiled2]

Originally posted by SnotRocket
They also give you up to $5 per month back to reimburse non Commerce Bank ATM transactions etc...

AND... Checking is %100 free... Even for businesses!

sounds like compass, except they give you 100% back of non-compass atm transactions and free checking aswell as online banking.

[Mike_N_Ike]

I used to use coinstar a lot but I don't really anymore. I think whether or not it's worth the feel depends on what kind of coins you have. What I do now is just sort through and pull all the quarters out and let coinstar eat the rest because I think its still worth it to roll the quarters. I guess that would depend on how much time you have though.