Sunday, September 25, 2022

What Banks Have Coin Machines

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Coin machine shootout, what’s the best coin machine and bank account to have for noodling?

More banks are actively seeking coin deposits to help meet demand in their branches and among their retail customers that rely on coins to conduct transactions, Kenneally says.

Think local. If youre lucky, you might even find a community bank that will actually pay you extra for those coins. Wisconsin-based Community State Bank ran a program in July that rewarded people with $5 for every $100 worth of coins they exchanged. They managed to collect a lot of coins, too. The bank reached its coin limit within one week.

Not every bank is as generous, though. Many national banks have largely phased out their coin-counting services in recent years, but its still worth checking to see if they have revisited the practice in the midst of the circulation issues.

Different banks have different coin acceptance policies, Kenneally says. Some accept rolled coins and some accept loose coins to process through a coin-counting machine. If they have a machine, loose coins are usually preferred.

How Do I Use A Coinstar Machine

Using a Coinstar machine is pretty simple. Here are the steps you should follow:

  • Locate a Coinstar coin machine.
  • Follow the prompts on the touch screen to get started.
  • Choose a payment method: cash, eGift card or donation.
  • Accept the terms and conditions, which include the fees Coinstar will charge you.
  • Dump your clean, dry change into the machines tray and make sure you remove any debris that may jam the machine.
  • Lift the handle to tilt the basket so the coins fall into the slot.
  • Check for rejected coins in the bottom slot while you watch the machine count and display your dollar amount.
  • Resubmit the rejected change.
  • Once the machine is done, it will print out a voucher you can exchange for cash at the register or will include a unique code you can use to pay at select online/retail stores and restaurants.
  • How Td Bank Customers Can Deposit Coins

    In order to deposit coins, TD Bank customers will have to use coin wrappers. These wrappers are available for free by visiting a TD Bank branch.

    Tip: Most banks will give you free coin wrappers.

    Customers have to wrap their coins at home before bringing them in for deposit.

    This is the standard procedure adopted by most other banks that don’t offer coin-counting machines.

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    Banks And Credit Unions That Offer Coin Counting

    Here is a list of several banks and credit unions that offer coin counting and the fee they charge. Of course, this list is not extensive and there are many other banks and credit unions throughout the United States that offer coin counting.

    • US Bank: current customers only
    • Community Savings Bank: requirements vary
    • cPort Credit Union: 5% fee for non-customers
    • Cape Bank: free for everyone
    • Home State Bank: 10% fee for non-customers
    • Wells Fargo: customers only
    • Eastern Bank: 5% fee for non-customers
    • Alabama One Credit Union: customers only
    • Republic Bank: free for everyone
    • JBT Bank: 5% fee for non-customers
    • American Eagle Federal Credit Union: free for everyone
    • First County Bank: 10% fee for non-customers
    • UnitedOne Credit Union: 7% fee for non-customers
    • Webster Bank: current customers only
    • Peoples United: 11% fee for non-customers
    • Freedom Credit Union: customers only
    • TCF National Bank: 8.9% fee for non-customers
    • Eastern Bank: 5% fee for non-customers

    Finding Banks With Free Coin Counting

    Can Bank Have Coin Counting Machine

    Banks used to offer free coin counting way way way back in the day.

    TD Bank used to have a Penny Arcade where youd dump in the coins and they would count them for you. Then there were questions of the counting accuracy, TD Bank got sued, and they reassessed their offering. Supposedly, if you counted $300 in coins , it could be off by as little as a nickel to as much as $43.10!

    Sadly, coin counting machines arent that accurate and a lot of banks dont want to deal with that headache especially since fewer and fewer people are counting coins.

    Chase, Citibank, Bank of America, Capital One, TD Bank, PNC Bank, BB& T, and many other national banks do not offer coin counting.

    The last major bank that offered free coin counting was BB& T but they took down their machines last year. Nowadays, you have to look for a smaller local bank or credit union thats simply too difficult for us to maintain a list.

    That said, if you wrap the coins in those coin wrappers, banks will accept them as long as you dont bring an unreasonable amount.

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    Which Banks Have Free Coin Counting Machines

    Looking to cash in coins for free and get crisp bills in return? Unfortunately, many of the well-known banks do not have coin counting machines. But, you may find regional banks and local credit unions offer the service free for members but charge a fee for non-members.

    The best way to find out is to call your regional area bank or local credit union and ask them. We even found that some of the regional banks with more than one branch location have limited availability of coin machines. This is why a phone call is the only way to know for sure.

    One more thing to keep in mind is that some banks that do not have coin machines will still take coins but they must be provided in coin wrappers. Some will provide coin wrappers for free. Again, your phone is going to be your best friend as this information is not likely to be on their website.

    We have found that credit unions provide free coin counting to their members along with some pretty cool budgeting tools that come with being a member.

    Charities That Partner With Coinstar

    Heres a quick summary of the main charities that Coinstar has partnered with:

  • Feeding America: A nationwide network with 200 food banks that help fight hunger in the United States.
  • American Red Cross: The American Red Cross is where people mobilize to help their neighbors in emergencies whether across the street or across the world.
  • WWF : This charity helps stop the degradation of the environment to help protect and restore animals natural habitats
  • Childrens Miracle Network Hospitals: Childrens Miracle Network Hospitals raises funds and awareness for 170 member hospitals that provide 32 million treatments each year to kids across the U.S. and Canada.
  • United Way: Each donation helps fight for education, health, and financial stability for others in the community.
  • UNICEF: This charity works in more than 190 countries to save and improve childrens lives by providing health care, clean water, and nutrition.
  • Leukemia & Lymphoma Society: They are dedicated to finding more effective treatments and cures for blood cancers so patients can live a longer life.
  • Who knew that your spare change could be easily contributed to helping such great causes around the world? One thing to note, not all of the charities listed above are available on every kiosk. Make sure to check online to ensure you can donate to the charity of your choice.

    Also, make sure to keep your receipt. Donations like these one are 100% tax deductible and want to keep the receipt for your future taxes.

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    How Can You Find A Bank With A Free Coin Counter

    Banks with free coin counters include TD Bank, PNC Bank and most credit unions. Banks that have coin counters may not have them at all branches. Calling the bank branch directly is the most certain way to determine whether one is available. Most banks that offer free coin counting services still charge non-customers fees.

    Many banks have machines that sort and count change and then dispense tickets that can be claimed for cash at the teller window. At some banks, the machine is operated by tellers and customers hand their change over the counter to have it tallied, but other banks do not provide this service.

    Generally, credit unions are more likely than banks to offer coin counting machines. Credit unions tend to have a higher focus on customer services due to their structure as member-owned cooperatives. A few commercial banks do offer coin counting services most notably TD Bank and PNC Bank. While both of these banks offer free coin counting for account holders, PNC charges a fee of five percent to non-customers, while TD charges an eight percent fee.

    Some other banks, such as Chase Bank and Wells Fargo, no longer offer counting service, as of 2015, and instead accept only pre-rolled coins of even denominations. These banks also charge fees for non-account holders to convert rolled coins to paper currency.

    How Coinstar Machines Work

    ATM PIGGY BANK COIN MACHINE FOR KIDS Frozen Elsa and Anna Toy Toys World Video

    1. The first step to use a Coinstar kiosk is to remove dirt, debris, lint, and any other objects from your coins. This will help prevent the machine from spitting out any coins it cant identify.

    2. Once your coins are clean and you arrive at a Coinstar kiosk, the next step is to choose cash, eGift card, or a charitable donation in exchange for your coins and then accept the terms and conditions.

    3. After doing so, fill the tray with your coins and then lift the handle to guide them into the slot. Depending on how many coins you have, it may take some time for the machine to count each one.

    4. If the machine spits out any of your coins, this may be a result of them being foreign, damaged, or even non-coins. If they are in fact undamaged U.S. coins, put them in again and it may register them the second time around.

    5. Even if the Coinstar kiosk doesnt spit out any of your coins, you should still check. Theres a chance that the previous person who used the machine didnt realize some of their coins fell through because of how loud the machines can be when counting coins.

    6. Once the machine is done counting your coins, you will receive a voucher to exchange for cash, a voucher with a unique eGift card code to use online or in-store, or a receipt for a tax-deductible charity donation, depending one which option you chose at the start of the process.

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    Additional Things To Consider When Using Coinstar:

    • eGift Card selection varies by kiosk location
    • eGift Card minimum amounts vary by retailer or restaurant. We saw minimum amounts as low as $5.00 to as high as $25.00
    • eGift Card maximum amounts vary by retailer or restaurant. We saw maximum amounts as high as $1000.00.
    Can you imagine depositing that many coins at one time in a Coinstar machine?

    Banks With Free Coin Counting Machines & Coin

    Banks With Free Coin Counting Machines & Coin-Counting Alternatives.

    Banks With Free Coin Counting Machines: Recall the days you could take your coin-filled piggy bank to the nearest savings institution and get them counted out for crisp bills or deposits. Sometimes those coins could add up to hundreds of dollars with annual amounts rivaling cash rewards from cashback credit cards. Fortunately, those days arent entirely gone.

    In todays largely cash-free society, spare change seems particularly useless. Coins are cumbersome and using large amounts of change to make purchases is just plain inconvenient.

    Happily, you can transform pesky change into crisp paper money with the help of coin-counting machines. These handy machines can be found at certain banks, credit unions, and stores. Best of all, some of them are free to use!

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    Banks Or Credit Unions

    Coin counting machines allow you to exchange your coins for paper money and a lot of banks and credit unions have them.

    However, if youre not a member you may not be allowed to use them or will have to pay a fee.

    Coin counting machines may also only be available at select locations of each bank and credit credit that has them.

    Considering this, before you go to your local bank or credit union with your coins, call ahead and ask questions such as:

    • Do you have a coin counting machine?
    • Is there a fee for members/non-members?
    • Are deposits only offered to account holders?

    If the bank or credit union doesnt offer coin counting, you can ask if they accept rolled coins. If they do, make sure to ask again whether or not you have to be a member and if theres a fee.

    Nearly every bank will give just about anyone free coin wrappers, whether theyre a current customer or not. However, if you cant find a bank that will give you free coin wrappers, you can always buy some at a Dollar Store or Dollar Tree.

    Use The Money To Pay Down Debt

    Which Banks Have Coin Counting Machines Uk

    One of the best ways to use spare change is to put the money towards credit card payments or student loans. Use the money to reduce your principal balance so that you spend less on interest in the long run.

    If you dont have any debt to pay down, consider putting your money into savings or an investment account.

    Learn more:

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    Pro Tip: Avoid Coinstars Fee With Egift Cards

    One way to avoid paying Coinstars 11.9% fee is to cash out using eGift Cards. This strategy lets you keep every penny you put into the machine.

    If you take this approach, youll get a debit card with a unique code instead of cash from the Coinstar machine. This plastic card can be used as a voucher when shopping online or in stores.

    It works just like cash in places like AMC,, the Apple Store, Steam, GameStop, Lowes, Starbucks, and The Home Depot, to name a few. Simply put, Amazon gift cards and Apple gift cards can be fun and rewarding.

    Learn more:

    What Banks Have Coin Counters For Free

    As previously mentioned, while some banks do have free coin counters, most require you to be a current customer.

    However, there are a few banks and credit unions that offer free coin counting to both customers and non-customers. Some of these banks and credit unions include Cape Bank, Republic Bank, and American Eagle Federal Credit Union.

    A few banks and credit unions that offer free coin counting only to current customers include Wells Fargo, JBT Bank, UnitedOne Credit Union, Peoples United Bank, cPort Credit Union, and US Bank.

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    The Future Of Coinstar

    While Amazon e-gift cards and donations are great the options are kind of limited. Especially since they used to have 5-7 different e-card options until 2018. But Coinstar is about to roll another feature later this year that is a huge benefit for you.

    Coinstar and Doxo announced a partnership in April of 2018 that will allow you to pay some of your bills with the kiosk. Through this partnership, you will be able to pay bills including utilities, phone, car loans, cable, certain types of insurance, and more. All of this will be done using your spare change at up to 7,000 Coinstar kiosks by the end of 2018.

    Not to mention, Doxo is a huge company so you will probably have access to at least one or two monthly bills that you are already paying. Doxo has a crowd sourced directory of more than 45,000 local and national billers.

    Which Banks Have Coin Counters

    A Coin Bank Machine

    Chase, Bank of America, Citibank, Capital One, PNC Bank, TD Bank, BB& T and other major national banks no longer provide coin-counting machines to customers or to non-customers.

    The reason:

    The big banks claim that these machines cost more to maintain than the value that is delivered to customers.

    The financial institutions that are most likely to operate coin-counting machines for the public are local community banks and credit unions .

    Additionally, you might need to be a customer in order to use these machines.

    Otherwise, expect to pay a small fee for using the service as a non-customer.

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    Donate Your Coins To Charity

    Another way to bypass Coinstars fee is to donate your coins to a nonprofit. Although Coinstar isnt partnered with many charities, there is a wonderful option for everyone.

    Similar to eGift cards, the option to donate is not available at every Coinstar kiosk. The available charities to choose from at kiosks that do will also vary from location to location.

    If you decide to donate your coins, make sure to keep your receipt because your donation is tax-deductible.

    Here is a list ofcharities Coinstar has partnered with:

    • American Red Cross

    Other Ideas For Your Spare Change

    Make sure to keep change with you and use it at self-checkout kiosks. There are still a lot of places where you can use quarters to make a purchase, like air machines for tires, candy machines, vending machines, and the like.

    Donate it.

    There are always many opportunities where you can drop some change for charity. Think Salvation Army at Christmas or the change jars at checkout counters. Coinstar also has an option to donate your change to charities when you cash it in.

    Coinstars available charities will vary by the machines locations, but they can include:

    • American Red Cross
    • World Wildlife Fund

    Make some art or gift your coins to someone else.

    When I was in high school, my grandma went through a phase where every present she gave us was a piece of art made out of change.

    She did all sorts of crazy designs by arranging and gluing down change to cardboard and using bills folded into various shapes.

    While you dont have to be crazy creative to gift your change, its one way to get rid of it and give a gift at the same time. Two birds with one stone, right?

    Now that you know your options for cashing in your coins, make sure to use them for something good like debt payoff, a vacation, building an emergency fund, or adding it to Dave Ramsey sinking funds. While a lot of people dont think that coins can add up to much of anything, youd be surprised how much all that change can help you out!

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