Coinstar?

Discussion in 'Budget Board' started by LWatson, Apr 13, 2010.

  1. LWatson

    LWatson I Still Do!!!!

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    Okay, so we have about $25 in coins just sitting in our kids' "bank". We were thinking of taking it to coinstar because most of the coins are pennies and I dont want to sit here and fill up tons of penny rolls (which i have to buy) along w/ the other coins. Do you all think coinstar is worth the charge to do? B4 we go I think we are going to start collecting random change we find around the house and putting it all together to try to make more so we dont waste another trip out. If we do it we will probably do it the day we do our snack shopping for our trip.
     
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  3. Angellovely

    Angellovely Earning My Ears

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    If you choose to get a gift card they don't charge you the fee (or at least they didn't about 8 months ago in MA) we did that and UNDERESTAMATED the amount of change we had and ended up with over $300 on an Amazon gift card :rotfl:
     
  4. BrandyC1974

    BrandyC1974 Mouseketeer

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    If you have a bank account, check with your bank. Mine has a counting machine; and as long as you have an account it is free to use. A bank will charge you, though, if you do not have an account with them.
     
  5. mom2brina

    mom2brina Mouseketeer

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    I never understood why people use the Coinstar machines when they charge you a fee. Call a bank branch and see if they have a coin machine. You don't have to put them in coin rolls, just make sure there are no Chuckie Cheese tokens or hairpins in there. When I worked at a bank we did this all the time for customers!! (even if they didn't have an account with us!)
     
  6. pamjb

    pamjb DIS Veteran

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    When my kids were small, we made a night out of rolling change. They learned to count by piling pennies into piles of 10. I would go to my bank and they would give me the empty wrappers. I can still get empty wrappers from the bank and we still make it a family night, although usually it just ends up as DH and I. Teenagers :headache:
     
  7. Ava

    Ava DIS Veteran

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    My bank (TD Bank) has a free coin counting machine, I don't even think you need an account to use it. Would be worth checking if your bank or another in your area has a machine before you pay the Coinstar fee.
     
  8. DVCBELLE

    DVCBELLE Princess at Heart DVC Gold

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    My bank has the machine right in the lobby - I am not sure if you need an account or not.
     
  9. pamjb

    pamjb DIS Veteran

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    TD Bank does offer free coin counting for anyone, you don't have to hold an account at the bank. But the OP lives in TN and I don't think they have branches in Tennesee
     
  10. NeverlandClub23

    NeverlandClub23 DIS Veteran

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    I used to work at a bank and while we didn't have a coin counting machine (although many of them swore we did for teller use just not customer use :confused3) we gladly gave customers free coin wraps. I wrap my coins (what little I have as I hardly ever use cash) while I watch TV about once or twice a year.
     
  11. Belle1962

    Belle1962 DIS Veteran

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    Ditto--my credit union will run them through the machine for free, deposit the money into my account and then i withdraw it either right away or via using it for purchases.
     
  12. ceecee

    ceecee DIS Veteran

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    We think it's fun too! Guess how much you have first. Coinstar charges for it and most credit unions and some banks have them and it's free.
     
  13. QVCshopper

    QVCshopper DIS Veteran

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    My two kids have accounts at TD America. When we opened the account, they matched our initial $25 investment. Then, they have a summer reading program that gives each child $10 into their account. Then, I take all money I find and it goes into the kids piggy banks. When we get up to about $10, we take the money to the bank to count in their machines. The kids each have about $90 now and we just started about 2 years ago. So, this is a great activity for your kids to learn about saving, but I sure do appreciate the coin machine as I find a lot of change! $6 just last month.
     
  14. tumblelina

    tumblelina Earning My Ears

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    We have used it and the gift card option is great.
     
  15. bumbershoot

    bumbershoot DIS Veteran

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    There are no coin counting machines at banks around here, and most of the banks I've found tend to charge a percentage if you are turning in lots of rolled coins (they are charged by the money moving trucks by the pound, and of course excess coins cost a lot, so they pass it along). Ugh.

    If you're in the market for, especially, an amazon.com gift certificate (perhaps you might have some trip-related purchases to make from there, or non trip purchases, and you can pay your kids cash for the amazon GC), you can use the coinstar machines and get a fee-free amazon GC.

    Do NOT get the Disney certificate, as it's an electronic giftcertificate which canNOT be used to buy a proper Disney GiftCard. So unless they want to buy some stuff from the Disney Store using that certificate, don't be tempted by that choice.

    I pick up free coin rolls at my bank...shouldn't have to pay for them.
     
  16. andrews_dad

    andrews_dad DIS Veteran

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    Commerce Bank. A chain that is amazing. Free coin counting, customer kind hours including drive-through open with tellers on Sat and Sunday ... open late. GREAT!
     
  17. LWatson

    LWatson I Still Do!!!!

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    I'll have to see if BOA has one here or not. I just guessed nobody did anymore because I've only seen one bank that did and they weren't too happy w/ me ($300 between singles and coins...I got a lot of tips at a coffee shop).
     
  18. mamaLori05

    mamaLori05 DIS Veteran

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    I've always taken my change (just in a big ice cream bucket) to the bank and they've always exchanged it for cash for me for free. I've never had to pay a fee at the bank to do that, and I've never had to roll the change either. I've been to 4 different bank's and they all do the same thing.

    edited to say all 4 were local banks
     
  19. mollybug2

    mollybug2 Mouseketeer

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    My bank has a machine and does it free of charge, too. I am always embarassed hauling my noisy bag of coins in, but money is money!
     
  20. VanessainWonderland

    VanessainWonderland Mouseketeer

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    COINSTAR steals your money.

    I put in one coin at a time because I noticed it was not adding up right and it was counting them at a lesser value...(penny for a dime, etc)

    I was furious and I showed the store mamanger, and they gave me my money back. I really think they rip people off. Never again!
     
  21. kydisneyfans

    kydisneyfans <font color=blue>It may be because they are too em

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    I have heard the same thing. It seems weird to me that someone would pay 9% of their money to keep it. I have never had a bank charge for coin wrappers either.
     

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