“ Turn coins into cash. „
Coinstar is a machine found in many supermarkets which simply counts your change for you so you can redeem it as a money off voucher, swap for cash at customer service desk or donate to charity. You do have to pay a commision fee for this though which is a set price per pound.
HOW DOES IT WORK?
Well you pop to your nearest coinstar with your jar/purse/container of change. There's a metal tray for you to tip the coins in with a handle on. When you pull the handle up the tray tilts forward and off your coins go. Try not to overfill the tray as coins may get a little stuck and take longer to go down, make extra fill ups of the tray if needed.
It's very noisy so be prepared for the money crashing sound, it reminds me of when you're playing on the 2p machines and get a big win (we've all been there!).
Coins will sometimes be rejected- sometimes it's because you've accidentally put in a foreign coin, othertimes the coin is too dirty or faded, other times it seems that the machine simply doesnt like your coin!
There is an interactive screen which counts your money as you go, it can be quite fun watching it all total up if your unaware of how much you have, it could also be quite depressing if what you have turns out to be an awful lot less than you had estimated!
When all counted you will be given two options- print your money out on a reciept or donate to charity. If you print it out you can either use it whilst paying for shopping or take it to the customer service desk to be swapped for a more convinient amount- hopefully note form!
WHAT'S THE CATCH?
Coinstar works on a commision fee- taking a set amount of money per pound. I believe its 8.9p per pound, it may of gone up since I last used it as it was less than this on my first use! I suppose it doesn't sound like much but almost 10% can be quite a bit if your putting in an awful lot of money.
HOW OFTEN HAVE I USED THIS
The hefty commision fee obviously hasnt put me off (maybe Im lazy) as I'm definitly in double figures as to use of this machine. I've used it when my penny jar was full but more often I've used it when im a few days short to pay day and need some emergency bread/milk etc. I dont mind popping a bit of change into the self service machine (in fact I tend to use self service for the sheer purpose of using up my change) but when you've got more than £2 of copper you start to get irritated looks!
Yes, I know I could go to the bank but this is more often used when I have £5 of assorted change and need it for essential items. Also I'm a bit clueless on where you even get the coin bags etc! So for now, for me, its Coinstar all the way.
Like many people, me and the Mrs have a nice little jar that we use for all our old shrapnel - basically anything 10p or less! When our jar reaches the top we have two choices - we either spend hours on end bagging up each of the different coins or we take the jar to the local supermarket where we can use the marvellous Coinstar machines!
The process is, shockingly, pretty straight forward. You take your jar (or whatever) full of money and dump it all in the machine! There is a metal tray that you need to pour your money into and then tip up so that the money falls through a slot and is then counted by the machine. You need to be careful though so that you don't overfill the tray as the money wont fall through easily.
As the coins go through the machine the screen gives a running total of how much money you have. If there are any coins that are not able to be read (for example if they are very dirty or non English money) then the machine throws then out below ready for you to try again if you can.
Once all your money is counted, the machine simply prints out a slip of paper which you then take to the customer services counter and they give you the money but in (hopefully) note form this time! You are also given the choice to give the money to charity but I am too much of a scrooge to do that!!
The only problem with the coinstar is the commission taken which is 8.9p per pound but to be honest it is worth it for saving you the hassle of having to bag them all up and take them to the bank.
Overall, very easy to use and saves you a lot of hassle compared to doing it at the bank. Ok, it takes a lot of commission but its still worth it!!
What can I say? This is a great little idea that saves a trip to queue up in the bank.
If, like me, you put all those useless 1p and 2p coins in a jar throughout the year, you'll know how annoying it is to count them out, bag them up, and take them to the bank. But now, why bother?! Last week, I put all of them in a carrier bag. I actually found that there were some 5p and 10p peices mixed up. This would have been an issue for the bank, but not Coinstar!
So I went along to a well known supermarket chain (not that one, the other one), and walked over to the Coinstar machine. I unceremoniously dumped all of the coins into the little tray provided. Then, i started shifting them about so they could fit through the slot. The slot's only thick enough for a single coin to slide through, but wide enough for about 7-8 coins at the same time. If you have a lot, you'll have to sift them a bit to help them through. The machine then gives a running total on screen of what coins have been deposited. Sometime it will stop taking coins in to catch up with the ones already deposited, but that's not a problem. And sometimes it'll kick out some coins. That basically means slow down and stop ramming more coins in!
At the end, you can see how much you've put in. Remember, this machine will charge 8.9p for every £1 you deposit. But thats a small price to pay for the convenience of it all. The running total on screen takes the charge into account, so you don't need to guess how much you'll get. Then, press the finish button and it'll print a reciept. Take this to customer service, and they'll give you the cash!
So, the long and the short of it is that if you have mounds of shrapnel at home, and no time to sort it out for the bank, Coinstar is the solution to your problem. Fast cash!
I've used Coinstar machines a couple of times because pennies and what not tend to get on my nerves when they gather at the bottom of my purse, so into a large jar on the window sill they go.
Im also a pretty lazy person and when the jar is full, I don't really fancy counting all the coins into little bags for the bank to take off my hands (although I've heard there are easier ways to change your coins now, so should really look into it!) Therefore, this machine is brilliant for me - easy and convenient and turns my big pile of pennies into a nice crisp note.
There is a downside to the Coinstar machines, which is commission. Its now up to 8.9 pence in every pound that you change, which is steep and if you are changing a particularly large amount, or any coins larger than a 5 pence, I wouldn't recommend using coinstar as the charge will end up pretty significant. Personally, I'm willing to pay this charge as I never seem to get much more than a tenner for my coins anyway, and as previously mentioned I am too lazy to bag my coins up or research other methods of cashing in! Its perfect for me, but could be seen as a massive downfall by others.
The machine is extremely easy to use - literally chuck all your mixed coins onto a tray and sift them through a gap. The machine will count up all the coins, give you a total and ask you if you want to:
a) Print a voucher to redeem at Customer Services for cash
b) Use the money against your shopping total
c) Donate the money to charity
These are all great options to have so you can take your pick. There will more than likely be a few random rejected coins too, either foreign or fake, so remember to check for these. And enjoy your money!
I always have lots of spare change. I'm not sure why, but if I'm ever in a shop (and not paying by card) I always hand a note in. For some reason I just can't be bothered counting out all the coins.
I also get a bit fed up at time with the old dear in front of me, counting out £4.67 in coins, as if her life depended on it. Maybe I'm being a bit unfair.
Anyway a couple of years back I noticed one of these sprout up in my local Asda. Coinstar was founded back in 1991, and is in many locations throughout the UK and worldwide.
So I emptied my large Bells Whisky Jar and poured it all into a bag. I then went along to the machine and poured it all in. It worked a treat, all my money was counted instantly. I was given a voucher to redeem for cash at the store checkout or to be applied to my purchase.
Then I noticed something I should have checked previously. I had been charged 7p in the pound for the privilege. My £30 was now £2.10 worse off. (It is now 8.9p). I felt as if I'd just wasted my money.
Don't get me wrong. It was my fault, for not reading up on the costs. 'You don't get a free lunch in this world' is a phrase my Dad uses and he was right.
Coinstar also give you the option of donating money to charity, which can only be a good thing.
I haven't used Coinstar since then. I'll tell you a little secret what I do now. I go to the self service tills at Tesco,and pour all my change in a very similar machine there. It adds it up just as fast, and I'm not charged. It just takes all my money off my bill. But just keep that between us - eh!!
I have a huge jar in my kitchen that I put spare change in when ever I can. Everytime I have some floating in my pocket, I put it in, and I have to admit, I emptied the kids copper jars into it as well!
On a trip to the local supermarket, I noticed one of these machines that counts your change for you. I went home and stared at the coin jar on my windowsill and then decided to take it to the machine.
Coinstar was founded in 1991 and turns consumer change into cash, conveniently, at a self-service kiosk. Coinstar brand coin counting offers highly accurate counting and unsurpassed machine uptime, benefiting both consumers and retail partners.
In 1989, a student called Jens, began interviewing supermarket
shoppers as part of a graduate school project. He learnt that people have a lot of change at home and really don't care to go through the trouble of sorting, wrapping, and rolling those coins in order to take them to the bank.
Two years later, with his Stanford degree in hand, Jens founded Coinstar. Two classmates who shared his goal of creating an easy way for people to turn their accumulated coins into cash joined him. They got to work and eventually succeeded in creating a machine that could quickly count change while filtering out the nuts, bolts, paper clips, and other "dirt" that is often found in piggy banks and coin jars.
*28 million people keep money in piggy banks and jam jars
*Of the 23 billion coins in circulation, 13 billion are sitting in piggy banks and jam jars or down the backs of sofas
*The largest Coinstar transaction to date in the UK is £5,677 by a customer in Sydenham in Kent
*More than 2 billion coins have been processed in the UK
***How it works***
Take your coins to your local supermarket, you can see on the website where your nearest machine is, and tip them out onto the metal grid.
Tilt the grid and the machine starts to count the ones going through.
At the end of the counting the screen will tell you how much you have and will then print out a voucher. Take the voucher to the supermarket counter and they will exchange it for money.
In the UK, the fee for coin counting service is 8.9 pence per pound counted. In Ireland the fee is 9.9 cents per Euro.
This is a great invention. Gone are the days where I have had to sit there counting coppers and picking out the foriegn coins and paper clips. Being told to wash my hands and not to put them in my mouth and then trailing to the bank to cash them in.
This is easy and simple to use. Some coins don't go in for some reason and they will come out of the bottom so don't forget to pick them up before you go. The machine will automatically pick out anything that isn't an english coin (god knows how they know it) and also fake coins.
They then print out your voucher. We got £18.95 out of a small jar of coins. I had guessed that there was only £7.00 ish but was really surprised when it totalled up. It benefits the supermarkets as I then spent that money in their shop!
You can donate to charity if you want to which is a nice option to have.
Pain free and easy to use. Have a rummage around your house, check the back of the sofas and in drawers to see if you have anything worth taking along to the machines, and, Happy Counting!!
I've got a massive vodka bottle that I chuck all my change in at the end of every couple of days, the coppers go in every night because I hate having loads of pennies and 2ps in my purse but I also put silver and pound coins in there. It mounts up quite quick but then I get stuck because the bank won't always take loads of coins and I can't be bothered going in with 3 or 5 bags a day until all the change is in my account! lol
The Morrisons up by me have just had a Coinstar installed and it's a wicked idea. You put all your change into a sort of basket and then tip it up so that all the coins slide into the big machine, then the Coinstar counts it all and when you're all done it prints a slip out with your total. You can either give this in at the checkout for them to take the money off your shopping or ask for the cash.
Coinstar take a percentage out as like a commission and I know some people would be annoyed about that because it's THEIR money but this is a service and it's not free..... so get over it! lol At the minute they charge 8.9p for each £1.00 of your cash that the machine counts and that doesn't bother me because at least I can get all my change counted quick and in one go without the stress of having to keep going to the bank.
The Coinstar machine takes all the UK coins except for the special edition £5.00 coins that were floating about a couple of years ago. Whenever I've used the machine there are always a few coins that it won't accept, today when I went to use it there was about 60p worth of mixes copper and silver that I just couldn't get to go through the machine.
It doesn't take long for the coins to be counted and you can see on the little screen how much there is and that goes up in real time as the coins are counted. At the end you press ACCEPT to get your voucher and it's printed out straight away, I usually use mine for money off the shopping but it doesn't matter how you want to use it because it's the same voucher for both ways.
I reckon Coinstar is brilliant, for the price of 8.9p in every £1.00 you can cash in a load of coins that would be just sitting in the bottle other wise.
Recommended..... cold hard cash for your loose change!!!
Coinstar machines are a good way of turning small change into 'bonus cash'. They are located in various supermarket chains and all you have to do is to take all your loose change along and pout it into the machine. It then calculates how much you have put in and then turns it into a voucher which you can either use for your shopping or go into the store and redeem for cash at a checkout.
There's also an option of donating to charity if you wish and the only catch is that Coinstar take a cut of about 7% off your total. It's still well worth it and I save up my coins over the course of a year and then cash them in and this usually gets me about £50 and pays for a night out!
The one other downside to the machine is that it does make a loud noise when you are pouring the money in. I have found this does result in everyone around the machine staring at you and you can feel like a bit f a cheapskate!
I used a Coinstar machine within a local grocery store to redeem $175 for a Amazon.com eCertificate. The gift code that was printed on the receipt did not work on Amazon.com. After numerous phone calls to both Coinstar and Amazon.com customer service, it was determined that the gift card code was printed correctly and valid, but expired due from long disuse in the machine.
Unfortunately, neither company will claim responsibility for this problem.
Although, in my opinion, my change is still in the Coinstar machine at the end of the day and they need to issue me a valid gift card code.
At the end of the day, Amazon.com customer service treated me like a human being, with courtesy and respect. The Coinstar customer service was rude, unkind, and unsympathetic to my problem.
I will choose not to use Coinstar again, but may continue to use Amazon.com in the future.
You know when someone is using a Coinstar machine by the loud crashing sound of coins being tipped into the coin sorter. I've been in Asda on more than one occasion over the past couple of years and been distracted by the sound and turned around to have a nosey at the commotion. Being a hoarder of loose change I have over the past few years become more organised and managed to get hold of a large bottle that I now throw my loose change into.
Using a machine.
If you haven't been up close to one of these machines they are blue in colour and stand at over 6 foot tall, there is a touch screen on the front which gives instructions on how to use. It really is simple, just scroll through the instructions and then you are ready to add your loose change to the sorter. All denominations of change are taken from 1p to to pound coins (not sure if £2 coins can be added as I wouldnt change these anyway) The sorter is a metal plate that lifts up and allows you to add handfuls of coins at a time, these are then tipped into a slot which then sorts your coins into each denomination and a running total of change sorted is displayed on the screen in front of you. If the machine doesn't recognise a coin it rejects it into a separate slot where you can retrieve and try again. If you become over eager with adding too many coins at a time you get a humorous message flash up on the screen telling you wait to allow the machine to catch up with you. It really is easy and the couple of occasions I have used a machine I have not experienced any problems with coins jamming or the machine malfunctioning. Once you have finished sorting your coins the machine produces a receipt telling you what your total is and you take this to the customer services desk (or a till depending where you are) and they exchange your receipt for the amount sorted minus a handling fee which I will discuss later in the review.
Like I said above, it really is easy to use one of these machines and I must admit they do appeal to the inner child in me; I love the sound of the crashing coins and eagerly watch the total increasing. Much to the annoyance of my wife I like to give a running commentary about how many coins we have added and express surprise at how many individual pennies we have actually managed to accumulate over a short time period. I have used a machine in Asda but have seen new ones being added instore in Morrisons and Tesco as well so there seems to be plenty of these machines out there.
Of course Coinstar doesn't just give you a straight return for your change and they do charge a fee for you using their facilities. Currently this charge is 8.9% which may seem on the steep side and I must admit that I begrudge having to pay this, but for the convenience the machines offer and taking into account the look of shock and horror that bank tellers give you if you have the audacity to want to take bagged coins into a branch I don't think this is too unreasonable.
I do think that these machines are a clever and innovative idea, especially as you don't need to sit for hours and sort through your lose change and make sure you bag them up in the correct amounts before taking them to a bank where invariably you will be huffed and puffed at, and in some instances be told that there is a maximum amount of bagged coins you can deposit in a single day. The machines are straightforward and easy to use and if you are anything like me who gets a strange sense of satisfaction at hearing the sound of the coins being sorted and then coming away with a few nice crisp bank notes then they will appeal to you.
Coinstar do have a website if you want to check them out for yourselves and provide a Machine Locator facility if you want to find a machine close to you. Generally though they are now popping up in all the major supermarkets and I'm sure you will have seen one (or heard one at least!)
I'm not going to give a perfect 5/5 Dooyoo rating due to the 8.9% fee that is charged, but for the convenience and ability to quickly get rid of all your loose change a 4/5 star rating is excellent and comes highly recommended by me.
I have now been using coinstar for many years, I save all my copper coins and a lot of other spare change that I have lying around. Then when my big old sweet jar gets full I go to the coinstar machines and change them all into 'real' money.
Coinstar machines can be found mostly in supermarkets, such as Tesco and Asda. Although I am sure they can be found in other locations as well. They look like futuristic ATM machines really, with a screen, that carries various information about the service.
How it works is that you pour all your loose change into the metal 'feeding tray', it will take anything from 1p up to £2 coins. Then you tip the tray to feed your coins into the slot, as the coins enter the machine a counter comes up on screen so you can see the machine actually counting your coins, it will give instructions sometimes while counting ie. to stop pouring coins while it catches up.
Coinstar has two options (from the ones I have used) for the payout, you can get a receipt for the cash which can be used either instore towards your shopping or can be collected in cash from the checkouts or customer service desk. For this service you are charged 7.9p for every pound put into the machine, which is quite annoying considering all my hard work saving, however I suppose they need to make money somehow. The other option is to donate the money to charity, although I have never selected this option, I think it will give you a selection to choose to donate to. I dont think Coinstar takes any of the funds if you select charity donation, although again im not 100% sure. Rejected coins-damaged or foreign coins will come out the bottom of the machine, although with some, if you put the coins back in they will count.
This service is very easy to use and I find it much more convenient than counting it all myself and going into the bank. My last payment was just over £80 and mostly in copper coins or 5ps so I cant think how long it would have taken me to count all that.
I first noticed coinstar in Asda and had no idea what it was, it just looked sort of like an instore atm to me. Until one day I was chatting with a friend about what she did with all her 1p's and 2p's, she introduced me to coinstar.
So I collected the familys savings, we have a big jar that throughout the year we all stick any loose change in and then give to charity at christmas (we do give to charity throughout the year). We never bother to count how much.
So off I went to Tesco, the machine is hidden away in our Tesco and you would not know it was there unless you were specifically looking for it. It sort of looks like a noisy atm, you can hear all the coins being poured inside it.
The machine is completely touch screen and you have a choice whether you want a voucher for the store you are in or you can choose cash, where you recieve a voucher and then have to queue at customer services for them to exchange it. The one thing you have to agree to is Coinstar taking 7.9 pence of every pound you put in. This does seem quite alot but it saves heaps of time. Think how much time you would have spent counting and bagging up for the bank or separating foriegn currency. The company still needs to make money out of this service at the end of the day.
There is a metal grill which you pour your money on tip of and this lifts upp and the money slides into the machine. As it lides in, you get an on screen balance of the money being counted. The machine takes a while to count and asks you to stop pouring so it can catch up, also sometimes the coins get stuck on top of the grill going into the machine and need a slight nudge. Usually the whole process takes me a good 10 minutes but it is still quicker than counting. At the end, the machine spews out you voucher and any foriegn coins.
Well I think I should tell you our total was £77.64 from a year and this all got split up between us for a little treat. It really is surprising how much all those pennies add up to. I better mention the machine takes any coin up to the £2 value, so you really can just pour them in.
Overall, I really like it. I despise the fact that it takes 7.9p but you are paying for a service.
Ive got a large bottle think that years ago it used to belong to my grandfather, think that at some point in its life time it did contain Whiskey.
But the neck of it is large enough to house all my looses change, so everytime ive been out shopping, or anywhere in general, i place my loose change inside this botle, being three quarters full, it weighs a ton, but its a handy way to make sure that i save up all my loose pennies, five pences, it even fits £1.00 coins in it and ten pences, dont think that there are too many £1.00 coins in there though, it will not take Two pound coins anyway.
Its a machine that i noticed in my local Sainsbury's store, i have actually used the one that sits in the Asda Store, and you can take all your change and pop it into the machine, it counts it all up for, you can press a button which states that you can pay a percentage to charity if you so choose.
When you start to change up your money it is really good, as it has a display counter that shows you how much you have in the machine as you go along. It is easy to use and saves going to the bank and having to count up all that loose change and bag it up.
The machine has a litle tray thingy on it and you slowly pour your change onto the tray, it gives you plenty of time to move your change into the end of the tray, this is done by tipping up the tray, but you might need to assist the machine in pushing the change down towards the edge, obviously there is a counter which counts all your money, there is a dectector that will shoot any unwanted foreign or not reconnised coins into the bottom, so that you can take them back.
You at the end of it, get a printed out voucher which states how much you have in the machine, and you then take this to a customer services till, and give them the receipt and they will give you the cash.
I think that it is a great idea for a way to dispose of all your change, and trust me it does mount up, after a year so that will pay for items for christmas or just towards a holiday, and is a good way of saving too.
Thanks for reading and rating my reviews xx
Ive been saving up for special occassions and also for that holiday and for christmas, as its always been hard finding all that money nowadays, as i cant work at the moment and have a little baby girl to take care, of along with the rest of my family.
I had a large cookie jar and as it wasnt being used me and my partner just got into the habit of throwing all loose change into this, and its suprising just how quickly it all mounts up.
They had a coinstar machine in our town supermarket, as most of these supermarkets do have and we took our money their.
The Machine gives you really simple instructions on how to use this and we soon amounted a large collection of coins 1ps, 2ps, 5p,s and you just tip it onto a special tray on the machine when it tells you too, and then you just push it and feed it into a counter, we were suprised when we got a little note to take to the cashier that said we have saved just over 40 pounds, so we are going to use that money to make a few purchases of start to our nans christmas pressant, and will let the children help us to pick some bits at the weekend when they are not at their schools.
Coinstar, what a good machine as it takes all the effort out of counting the money, and gives a little bit to charity too, so we are all doing our bit at the same time.
Coinstar a really simple concept that I'm surprised hasn't been around for longer. I used to see the Coinstar machine in Asda by the door and saw people putting in change and for some reason after seeing the receipt that came out, I presumed you then spent the money/voucher in store.
After discovering a large bag of 1p's, 2p's, 5p's, 10p's and 20p's at work a colleague and I decided the best way to change it in to proper (notes) money would be to visit a Coinstar machine, so we went to our local Tesco's after going online to confirm that you can indeed change the voucher for cash at the customer service desk.
Off we went to the local Tesco, when we arrived we saw the Coinstar machine in full swing with another customer, so we queued patiently behind him and waited our turn. He was there a while, must have been saving his pennies for a long time.
The one complaint I would have here, is there Coinstar machines are quite large, and look like an ATM/cash point. This is quite open and the screen is quite large and visible to those around you. My colleague and I respect people's privacy so we avoided looking in the direction of the screen, but someone who was obviously interested was the security guard, the cheek of him, he walked from about a metre away, standing side on to the machine, over to us, leaning over to have a look at how much the guy in front had put in.
We were utterly disgusted at this, and I was going to complain but after mutterings under our breath he backed off. He didn't do the same to us. Lucky for him!!
So we got to the machine, which as I said is very large (I think this could perhaps be changed slightly so the screen could be lower and more concealed, but it obviously needs the size to store the coins).
The machine literally is a touch screen, so you touch to say start and then proceed to put your coins on a grill that can be lifted at one end, this means the coins slide down one end where there is a slit and the coins go inside to be counted. On the screen there is a running tally of how much you have and in what coins, it's fun to watch it go up, especially if like us you guessed beforehand what the total would be.
The machine doesn't like to be overloaded so I wouldn't put too much on the grill, we did, and it kept saying on the screen: please wait while we catch up. Which is fine but leads me to question, did it count it all? I think so but you never know.
The Coinstar machine does say on the screen prior to starting do you agree to the terms, and you must press yes before you proceed. The main thing you need to agree to: Coinstar will take 7.9p out of every pound you put in. Well you didn't think the service was free did you? I think 7.9p is quite a lot but at the same time, you are paying for a service and it's a good and quick one.
I don't know if anyone is like me but I begrudge paying money for things like this, even though I know you get nothing for free and it is fair. It is nice that you don't actually see on the screen how much Coinstar makes from your transaction, the total on the screen, is what you will get. Coinstar's money is deducted so you don't feel bitter (or is that just me)?
Coinstar spits out all the foreign coins and old tender so if you can't be bothered to separate it before, this will do that too.
Once you have finished with Coinstar you press the collect money button on screen and it prints a receipt, on the receipt is the total you have made, and also what Coinstar have, so you can see how much you've been charged for the service.
So with our receipt for £31.67 in hand, we proceeded to the customer service desk where the piece of paper was swapped for some Great British pound notes!
I would recommend this service; even I would use this with my own money if I didn't have the time to count it. I mean it is quick and easy and when you think about how long counting coins, bagging them up, and then taking them to the bank, queuing in the bank (which is enough to put anyone off) then you do save time for a relatively small cost.