how to exchange coin: The Best Way to Convert Your Loose Coins Into Cash

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how to exchange coin

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how to exchange coin

Reading reviews and testimonials from other customers can give you a better idea of what their experience was like when using an exchange service. Look for feedback that talks about customer service, convenience, fees, wait times, accuracy of transactions, etc., so that you can make an informed decision before committing to any particular exchange service provider. Major chains like CVS, Target, Safeway, ShopRite and Walmart often have Coinstar machines near the front of the store. You can also check the Coinstar website for a location near you. Typically, you (carefully) feed your change into the machine and wait while it tallies up your total, while sorting out foreign coins, slugs and other detritus.

If you’re wondering where to cash in change, just use the tips listed above to easily turn your heavy metal coins into cash, gift cards, or an added balance to your bank account. To exchange coins for bills, try taking them to a local bank or retailer that offers coin-counting services. With some coin-counting machines, like Coinstar, you can also exchange coins for gift cards for free or donate your spare change to charity. Don’t forget that coins can be used for purchases, too — just roll them up and use them like you would bills. You’ll typically find free coin-for-cash exchanges at banks and credit unions, but for a fee, you can cash in your change at places you visit every day. And if you’re willing to accept a gift card instead of cash, you could do your exchange at Walmart and other retailers for free.

Ways to Make Quick Cash

This could be a secure wallet or purse, a bank account, or even an investment portfolio. Keeping your money out of sight and away from potential thieves is essential to protecting yourself financially. If your bank says that they only accept rolled coins, you might have your Sunday project cut out for you.

  • The content created by our editorial staff is objective, factual, and not influenced by our advertisers.
  • This way it’ll be easier to quickly grab what’s needed during the exchange process without having to search through a jumbled pile of mixed denominations.
  • So, if you put $100 into the machine, you’ll only receive $88.10.
  • Our big green kiosks are at grocery stores, so you can get cash conveniently, right on the spot.

If you’ve been feeling the pinch of inflation — and who hasn’t? If you’re looking to turn your spare change into a real payday, here’s how to get started. If your schedule is simply too tight to roll coins yourself or go to the store and have a machine do it, you can always pay a friend or neighbor to do it. If you have young children who are trying to learn math virtually, use the coin wrappers as a real classroom. Between all the pennies, nickels, dimes and quarters you’ve collected, they can practice counting and begin to understand basic money values. At Bankrate we strive to help you make smarter financial decisions.

Sell valuable coins

The easiest way to do this is at a bank or credit union with coin-counting machines that do the work for you. Otherwise, buy some coin wrappers and set aside some time to sort, count and roll the change before depositing it in your account. You’ll be able to avoid paying a service fee and can keep more of your cash.

If you don’t have an account with the bank, you might be charged a fee in order to have your coins changed out. Bankrate’s editorial team writes on behalf of YOU – the reader. Our goal is to give you the best advice to help you make smart personal finance decisions. We follow strict guidelines to ensure that our editorial content is not influenced by advertisers.

There’s typically a fee for the service that can amount to a few dollars. Coinstar, the most popular brand of these machines, charges an 11.9 percent service fee that may vary by location. Some gas stations, such as QuikTrip, also offer coin-exchange machines that you can use to exchange coins for cash. Coin counting machines count money and make it easy to put the coins into paper wrappers for depositing them at banks. Some credit unions also offer free coin exchange services for customers, and some even for non-customers. Wells Fargo is another bank that offers this service free of charge and also requires customers with bank accounts to use coin rolls.

how to exchange coin

American Eagle Federal Credit Union offers free coin exchanges for all consumers. The Westerra Credit Union is another organization that offers coin exchanges, but they are exclusive to members. Here are some credit unions GOBankingRates has confirmed accept coins. Bank of America, Member FDIC, accepts U.S. coins, but they must be presented in full rolls at any of the bank’s local financial centers. Find your nearest one by entering your address in Bank of America’s branch locator. Many of the offers appearing on this site are from advertisers from which this website receives compensation for being listed here.

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By following these accounts, you’ll always have access to the latest news and updates regarding all things related to managing your finances wisely. Most banks only take coins from people with accounts, or charge nonmembers a percentage. Wells Fargo will turn change into cash for nonmembers for free, but only up to a certain amount. However, counting and exchanging all of those coins comes at a cost.

  • The Westerra Credit Union is another organization that offers coin exchanges, but they are exclusive to members.
  • Here’s a breakdown of some of the top retailers offering Coinstar kiosks.
  • Start by collecting all of the loose change around your house or apartment.
  • Check with the bank in advance to learn if there’s a free.
  • Branches that don’t accept coins have a “No coin transactions” notation in their listing.
  • And many community and regional banks offer services like coin counting to distinguish themselves from big banks.

New Jersey’s Manasquan Bank has coin machines at many, if not all, branches. Check the bank’s location finder to see if your branch offers this service. Start by collecting all of the loose change around your house or apartment.

We do not include the universe of companies or financial offers that may be available to you. By putting your money into paper rolls as you go along, you can prevent large sums of coins from accruing in a coin jar, making it easier and more cost-effective to cash in. But most companies that let you cash in your coins require you to roll them up. While most places charge a fee to transfer coins into cash, there are some companies that let you cash coins in for free, saving you money. Members of Penn East Federal Credit Union have access to complimentary coin-counting services.

The upside is, by the end of this task, you’ll hopefully be able to turn a few pounds of loose change into a stack of cash you can slide right into your wallet. Many coin-counting machines at retailers, including Coinstar, allow you to exchange your coins for a gift card with no extra fee. If you’ve ever tried to stuff coins into paper wrappers, then you know how time-consuming and tedious the process is–especially if you’re dealing with multiple buckets containing a mix of coins. It could take you months to sit there and manually sort through them and stuff paper wrappers. Money costs time, so this approach is simply not worth it (unless, of course, you have a lot of time on your hands because of the pandemic). Before you can exchange your coins for cash, it’s important to make sure you’re prepared.

Turn your coins into savings.

We’re transparent about how we are able to bring quality content, competitive rates, and useful tools to you by explaining how we make money. Enroll in this free webinar to get the exact step-by-step process on how to generate more income and live the life you actually want. Money passes from person to person, gathering germs with every transaction. The best thing to do is cut down on cash and only use it for emergency purposes. Here’s a breakdown of some of the top retailers offering Coinstar kiosks. Get advice on achieving your financial goals and stay up to date on the day’s top financial stories.

While we adhere to strict
editorial integrity,
this post may contain references to products from our partners. Coinstar machines have a maximum limit of $2,000 per transaction. You could do multiple transactions from the same machine if needed. But that’s unlikely given the sheer volume of coins you’d need. This is why so many people have mountains of coins sitting in their closets in old coffee cans and bags. Here are some things to consider to help you get the most out of your loose change.

This is probably the simplest and most accessible way to turn change to cash. Cashing in your spare coins can be an easy way to treat yourself or contribute to an emergency fund. If you take a moment to look through your coins with a more discerning eye, you might find some valuable or rare coins that could be worth a lot more than their face value.

Staying informed about money management strategies is essential for anyone looking to make smart decisions with their finances. Following financial experts on social media platforms such as Twitter or Instagram can be a great way to stay up-to-date on new developments in the world of finance. Financial institutions often have newsletters that provide helpful information and advice, so signing up for those can also be beneficial. Additionally, attending local workshops or seminars on personal finance topics if available in your area can give you valuable insight into how to best manage your money. Once you’ve exchanged your coins for cash, it’s important to put the money in a safe place immediately.

Plus, what’s more satisfying than having exact change at the register? And if you have a coin-operated laundry machine, you know there’s nothing more valuable than a stack of quarters. If you don’t have any debt to pay down, consider putting your money into savings or an investment account.

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Bring a valid form of identification such as a driver’s license or passport and some extra cash in case you need change back after your exchange. Double check all details before leaving home so that there are no surprises when you arrive at the exchange location. Make sure to research different options beforehand and compare fees and rates between services and locations. Read reviews from other customers who have used these services in order to get an idea of what their experience was like. Many grocery stores have coin-counting machines, which are often located near checkouts.

Mary Davis
My name is Mary Davis. I am successful broker. I want to share my experience with you through tutorials and webinars. For any questions of interest, please contact us by e-mail: [email protected]. +1 973-709-5130


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