Ever wondered why the cash you get from a change machine is a little less than what you put in? Whether you’re prepping for laundry day or need coins for parking, knowing exactly how much change machines charge can help you avoid surprises and save money.
This article breaks down typical fees, explains what influences these costs, and shares simple tips to get the best value—so you can swap your bills for coins with confidence.
Related Video
How Much Do Change Machines Charge?
If you have a jar full of coins sitting at home, you might be wondering: “How much do change machines charge?” After all, those coins add up, and you want to get the most out of your hard-earned cash. In this article, we’ll break down the typical fees change machines like Coinstar charge, factors that influence these costs, and ways to avoid or minimize fees. Let’s dig in so you walk away with as much money as possible!
Understanding Change Machine Fees
Change machines, particularly coin-counting kiosks such as Coinstar, are common in grocery stores and supermarkets. They provide a convenient way to turn loose change into paper bills, gift cards, or charity donations. But convenience can come at a cost.
The Typical Coin Machine Fee
- Most coin-counting machines charge a processing fee for sorting and counting your coins.
- As of 2024, Coinstar—the largest and most popular brand—charges about 11.9% of your total coins when you choose to receive cash.
- This means that for every $10 in coins, you pay about $1.19 in fees and get $8.81 back in cash.
How Fees Are Calculated
Many machines post the fee as a percentage. Here’s the simple math:
- Add up your total coin value.
- Multiply by the fee percentage (for example, $50 x 11.9% = $5.95).
-
The remaining balance is given to you in bills.
-
Some machines may have slightly different rates depending on the location.
- The fee is usually deducted on the spot, automatically, before you receive your cash payout.
Why Do Change Machines Charge a Fee?
Change machines are more than just coin sorters. The companies that operate them invest in:
- Manufacturing and maintaining sophisticated machines.
- Processing and transporting coins securely.
- Paying for machine placement (rental fees to store owners).
- Customer service and software maintenance.
Essentially, you’re paying for convenience and time saved.
Options to Avoid or Lower Coin Machine Fees
While the convenience is appealing, you might want to keep more of your cash. Luckily, there are ways to avoid or reduce these fees:
1. Choose Gift Cards or E-Vouchers
- Many machines, particularly Coinstar, offer the option to convert your coins to store gift cards or e-vouchers for brands like Amazon, Starbucks, or Walmart.
- Choosing this option usually waives the processing fee entirely, so you get 100% of your coin value.
- This is a smart move if you already shop at those stores or plan to give the gift card as a present.
2. Donate Your Coins
- Coinstar also lets you donate your coins to select charities.
- When you opt to donate, the fee is often waived, and you can support causes such as disaster relief, medical research, or local food banks.
- You’ll receive a receipt for your records, which might be useful for tax purposes.
3. Coin-Counting Machines at Banks
- Some banks (especially local or regional branches) offer coin-counting services for their customers—often for free.
- You usually need to have an active account at the bank.
- Ask your local bank if they provide this service and what restrictions may apply.
- Banks are less likely to have minimum amounts or high fees, making them cost-effective.
4. Rolling Coins Yourself
- You can purchase paper coin wrappers from grocery or dollar stores.
- Sort and roll the coins yourself, label the wrappers, and bring them to your bank.
- Most banks accept rolled coins and will deposit the full amount into your account.
- While it takes more effort and some time, you get to keep every penny.
5. Shop Around Locally
- Not all coin machines charge the same fee, and some grocery stores may have lower rates or special promotions.
- It’s worth checking the rates at various locations in your area before dumping in your coins.
Step-By-Step: Using a Change Machine
To make sure you get the best possible deal, here’s a typical process when using a Coinstar or similar coin-counting machine:
- Bring Clean, Loose Coins: Remove debris, wrappers, and foreign objects. Some machines reject dirty or stuck-together coins.
- Select Your Desired Payout: Cash, gift card, or donation.
- Pour Coins Into the Tray: Feed them slowly so the machine can count accurately.
- Wait for Counting Completion: The display will show a running total.
- Check the Receipt: Make sure you agree with the counted amount and payout method.
- Receive Cash, Voucher, or Donation Receipt: Take your payout to the cashier if you selected cash; some machines dispense paper bills directly.
- Read the Fine Print: Be aware of any minimum or maximum coin limits.
Benefits of Using Change Machines
Despite the fees, change machines can make life easier. Here’s why some people choose them:
- Fast and Convenient: No need to count or roll coins yourself.
- Accessible Locations: Often in grocery stores, so you can cash in coins while shopping.
- Immediate Results: You walk away with cash or a usable gift card within minutes.
- Flexible Payouts: Options include cash, gift cards, or charitable donations.
Common Challenges and Drawbacks
It’s important to consider these potential downsides:
- High Fees: Up to 12% or more in some locations can eat into your total.
- Availability: Not all areas have machines or may have lines during peak times.
- Machine Cutoffs: There might be limits on how many coins you can process at once.
- Coin Rejection: Damaged or foreign coins aren’t accepted and need to be separated in advance.
Practical Tips to Maximize Your Payout
Here are some easy ways to ensure you’re getting the best value from coin machines:
- Sort and Pre-Clean Coins: Remove trash or foreign coins at home.
- Choose Non-Cash Options: Gift cards and charity donations often have no fees.
- Call Banks in Advance: Ask if customer coin-counting is available.
- Count Coins Yourself: Use at-home coin counters to ballpark your total.
- Check Fee Policies: Rates sometimes change or vary by region and store.
The Bottom Line
Change machines provide a fast, convenient way to turn loose coins into something more useful. However, this ease comes at a price—typically around 11.9% of your total. If you want to keep every cent, consider using a bank, rolling your coins, or opting for gift card payouts. With some planning, you can cash in your change and avoid (or at least minimize) unnecessary fees.
Frequently Asked Questions (FAQs)
1. How much does Coinstar charge to cash in coins for bills?
Coinstar typically charges a 11.9% fee when you choose the cash payout option. For $50, you’d pay about $5.95 in fees and receive approximately $44.05.
2. Are there ways to use Coinstar without paying a fee?
Yes! If you select a gift card or an eligible charity donation, Coinstar usually waives the processing fee. You get the full value of your coins.
3. Can banks count my coins for free?
Many banks—especially credit unions and local branches—offer free coin-counting services to their customers. It’s best to call ahead to ask about fees and requirements.
4. Is rolling coins worth the effort compared to using a machine?
Rolling coins takes more time and effort, but you keep every cent. For larger amounts, it can mean significant savings over machine fees.
5. What happens if the change machine rejects some of my coins?
Coins that are too dirty, damaged, or foreign (not U.S. currency) will typically be rejected by the machine and returned to you in a tray. You’ll need to separate these before trying again or deposit them directly at a bank if accepted.
Turning in your loose change shouldn’t mean losing money unnecessarily. With a little knowledge and planning, you can maximize your payout and finally clear out that coin jar!