Newest Review: ... 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 am... more
Takes the hassle out of counting your change but charges you for it
Member Name: catrocks03
Advantages: quick and easy, takes out hassle of counting coins
Disadvantages: high commision fee
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.
Summary: If you dont want hassle of bagging up money or need to change up a few quid then this is ideal.