Are Coinstars Reliable?

Question

I've never tried it & I have buckets of change at home.

Answer 1

I have used coinstar quite a bit, but I think it's too expensive.

It appears to be accurate - the first time I used one of the devices, I pre-counted the coins and it was accurate. The machines are frequently broken, but when they are, they tell you up-front.

However, they charge 8 9/10%! That's quite a bit if you have a pile of coins - especially if you are heavy in the quarters and dimes.

I would ask the local banks/credit unions if they have a coin counter, and how much they charge their customers to use it. Some banks will make you wrap your coins. Others will charge a small fee (less than coinstar) for them to use their machine to do it for you. Still others will do it for free.

My bank made me wrap coins and I didn't feel like switching, so I wrapped my own coins for years. I wrapped the quarters and dimes by hand, and used coinstar for the nickels and pennies.

-->Adam

Answer 2

I have found that they are very reliable. You even have the option of taking your total value in the form of a gift certificate to a wide array of stores, & online music sites. If you choose to do this, then I believe the fee is waived.

Answer 3

Yeah but they take a percentage of your money. I would go to a commerce bank and use the coin machine they have there. You can use it even if you dont have an account and they dont take away any percentage.

Answer 4

As far as I know they are honest and reliable. They say right up front that they rake 6% off the top.

Answer 5

yes but why not find a local bank that change coins into dollars free!!!

Answer 6

Yes they are very accurate,they do charge a very small fee and are easy to use.

Answer 7

Yep,

I use them all the time.