Are you looking for ways to cash in your coins for free? Whether it is because you’re sick of that jar full of spare change or you just don’t want to spend money to pay fees at the machines, there are numerous spots that could collect your coins for free. Most companies charge a fee for this service, although some offer you the opportunity to cash in your coins free of charge, answering the question, ‘Where can I change my coins for cash for free?’
Where Can I Change My Coins for Cash for Free?
Here is a list of sites that answer the question, ‘Where can I change my coins for cash for free?’:
1. QuikTrip – Where Can I Change My Coins for Cash for Free
QuikTrip is a great place to cash in your coins without the fees. With over 900 stores located throughout 14 states, these people must be doing something right. The national coin shortage has done them a favor and currently allows them not to charge for coin exchanges.
Why It’s Great
You can just walk in with your coins and still get all the money, thus answering your question of Where can I change my coins for cash for free. If there is a QuikTrip near you, it’s an easy stop first of all when attempting to cash in coins. Other than no charges, you won’t have to roll your coins.
2. Bank of America – Where Can I Change My Coins for Cash for Free
Another great choice is Bank of America, which allows the consumer to cash their coins for free, under the condition that they are rolled. When a customer redeems their coins for cash, Bank of America requires the customer to submit their coins in paper rolls.
Why It’s Great
This means while you will not be charged any fee, you will have to take some time in arranging your coins to deliver them to the bank. Now, did you find an answer to where can I change my coins for cash for free? Since a bank teller doesn’t accept loose coins, ensure that your rolls are ready by the time you proceed to your local branch.
3. Wells Fargo – Where Can I Change My Coins for Cash for Free
The other bank that also allows free coin exchanges is Wells Fargo, but to do so, one has to roll up the coins first, just like Bank of America. Even though customers have to roll their coins first, it largely does not charge fees to allow customers to exchange them for cash. This answers the question, ‘Where can I change my coins for cash for free,’ stylishly.
Why It’s Great
Rolling your coins is a pain, particularly if you have a lot of loose change, but it is a good option for individuals who don’t want to lose any of their money to fees.
4. U.S. Bank – Where Can I Change My Coins for Cash for Free
Still wondering, ‘Where can I change my coins for cash for free?’ If rolling coins annoy you too much, then U.S. Bank is definitely right for you. Bank of America and Wells Fargo do not accept loose coins and insist that each customer roll them into rolls before cashing them in. Once you have an account with U.S. Bank, you can go there and bring in your coins loose and exchange them for money without paying any fee.
Why It’s Great
This makes U.S. Bank one of the best hassle-free cash-in coin-free options, especially for individuals who do not have enough time or patience to roll their change.
5. Credit Unions – Where Can I Change My Coins for Cash for Free
Some credit unions also provide free coin exchanges to their members and non-members. For instance, the American Eagle Federal Credit Union will change the customer’s coins with its customers on an unlimited basis free of charge to the customer. Given that this depends on your locality, it is wise to consult your local institutions to see if they offer free coin-counting services.
Why It’s Great
Perhaps it’s because this is a painless and also economic means of exchanging your coins to cash without considering fees or queuing up in long lines to roll the coins.
Where Can I Change My Coins for Cash for Free?
Where many banks and credit unions are charging a fee for coin exchange, some don’t, and at least one credit union lets you roll the coins before depositing them, saving you a whole lot of time and work unless you have a quantity of loose change.
Rolling your Coins
Coin wrappers can be purchased at an office supply store or ordered online. From there, it is a matter of sorting and counting the coins by denomination, placing them in the respective wrappers. It is very time-consuming, but it saves the hassle of paying bank fees or coin counting machine charges. If you have a significant number of coins, an investment in a coin sorting machine is in order. This will cost you a one-time fee-mostly in the neighborhood.
Tips for Using Coinstar
But if you don’t feel like messing around with the penny rolling, you can just take your coins to a Coinstar, if you want to know where can I change my coins for cash for free. These are easy to find at all the major retailers: Walmart, ShopRite, CVS, and Target, just to name a few-and they have kiosks where you pour in your loose change to get cash out.
Applicable Fee
But Coinstar charges you an 11.9% fee, so you essentially surrender part of your money during the exchange. So, for example, when you deposit $100 in a Coinstar machine, you get only cashback in the amount of $88.10.
How to Avoid Coinstar Fees
An eGift, if you do not mind paying the 11.9% fee that Coinstar charges, is the best bet in cashing out of coins. Select a gift card from the big retailers to; such as Amazon, Apple, Starbucks, and much more. When you choose eGift, Coinstar saves you the fee and keeps all your money.
Working with Your Loose Coins: Getting Started
Rummage through your coins and want to know, ‘Where can I exchange coins for cash?’ Well, here are some tips you can follow to make it easier and gain more from doing so:
1. Use Fewer Coins
The best way to avoid hassle with cashing in coins is to just use less cash. Using more cards or even mobile payments, you will receive less change; thereby fewer trips to the bank or Coinstar.
Other than being more convenient, digital spending is also safer than paper money. Stolen, easy cash is very common, and loose coins can gather in your home and lose their value over time.
2. Roll Your Coins as You Spend
When you prefer to spend your money in cash, yet you always encounter frequently having loose change, consider rolling your coins weekly or monthly at coin counting machines.
3. Spend Using Coins
Another is to use your coins to buy coffee or a snack, or maybe some small things like that. Coins work just as well as bills do. It’s not really the most convenient option, but it works if you don’t want to visit the bank or Coinstar to spend your coins.
4. Pay Off Debt with Coins
If you have outstanding debt, invest your spare change by using it to make payments. You’d be surprised how much extra this can add up to, meaning less interest paid over time if you’re taking those coins to pay off debt. Even as little as a few pennies counts, and putting it toward credit card balances or student loans makes all the difference.
Coin Counters: Change Coins for Cash
A coin-counting machine is an automatic machine that assembles and counts coins. This might make wrapping a lot easier for those who make bank deposits. Though this device saves time, some can be quite costly. The price can go as high as $30 for some. Coinstar coin machines can accept up to $2,000 in coins. If you have a larger number of coins than this, then perform multiple transactions.
Conclusion
At some point, everyone ends up with a jar full of spare change. When it’s time to deposit those coins, you have options that run the gamut from no-fee banking services to convenient-if-expensive Coinstar machines. With a little advance planning, you can successfully answer, ‘Where can I change my coins for cash for free?’ You either roll them, spend them on little things, or pay off debt, and the coins may total a lot in the long run.
FAQs
Where can I change my coins for cash for free?
Answer: The Bank of America, QuikTrip, and Coinstar machines allow you to exchange coins for cash.
What is Coinstar?
Answer: Coinstar is a coin machine that counts up coins and returns the money to you in bills. Coinstar locations vary across the country.
What is the maximum number of coins that Coinstar accepts?
Answer: At a time, you can give coins totaling not more than 2000 USD.
Can credit unions give cash for coins?
Answer: Yes, some credit unions do.
