Retailers love gift cards because they are high-margin and low-maintenance. I bet Coinstar actually makes more than 10% off the brands that provide gift cards. This is a brilliant way to avoid no fees. The fee-free restaurant and retail options include: Home Depot. The process was simple and I went to Coinstar Exchange’s website to find a nearby location. The company sent me a 25 gift card from Red Lobster to test it out (an easy thing because I’m not a fan of the restaurant). Coinstar partners with a variety of popular retailers and restaurants to make this a good option for some folks. Coinstar Exchange accepts gift cards from nearly 150 retailers including Lowe’s, Best Buy, Target, Macy’s, Starbucks. Pretty much a giftcard from any of the top brands. The nice thing about this option is that Coinstar charges no fee to give you your full cash value as an eGift card. They have kiosks where you can turn your coins in for cash or eGift cards. So, if you are looking for ways to make extra money, the Coinstar kiosks might be a great option for you. I decided to swallow my pride and go to a nearby Safeway grocery store and use Coinstar.Īfter I deposited my cash I was pleased that I didn’t have to give up 10% of my money – I could simply get a giftcard instead. The Coinstar gift card exchange kiosks were around for a short period of time whereas Coinstar kiosks have been around for about 30 years. I knew I had at least *200 pennies and had no patience to do the counting. Over the last 2 years I’ve acquired a lot of coins and decided to go to my nearby bank and turn my pot of coins into CASH! Unfortunately, California banks simply gave me some coin wrappers and wanted me to do all the coin counting by hand. Coinstar charges a 10% fee – so why would I pay someone to give me $9 for $10? I hope you see my dilemma here. See, I was living in Illinois at the time and you could easily just go to any bank teller and convert your coins into cash for free. I first heard about Coinstar 6 years ago in a TV advertisement and immediately thought it was the dumbest idea ever.
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