Coinstar is making it even easier to access your funds! They have partnered with PayPal to give you easy access to load, withdraw, or send money with your PayPal account right from the kiosk. Pair that with the ability to trade out your coins to cash whether you go online to make purchases, use your PayPal debit card, or withdraw those funds right there on the spot.
I have had a full and heavy jar of coins sitting on our shelf for a long time. Just waiting.. waiting for me to get up the energy to actually roll all the coins into those little paper sleeves. I’ve been to the bank on two different occasions even asking them if I could just hand them a pile of coins. The answer was always no along with handing me a handful of paper coins sleeves. I’ve rolled coins into the sleeves before. But, hey, I’m a busy mom and just don’t have the time or the energy to even think about doing this. So, the coins just sat there on my shelf doing nothing for me. When I heard that Coinstar and PayPal were partners it just made sense and I was ready to finally cash in my coins for something I could really use!
Our Experience with Coinstar and PayPal
We headed over to our local Safeway, just a few minutes from our house. I thought it would be fun to take our big jar of coins over to the produce department and see just how heavy the jar actually was. I was surprised to see it was just shy of 9 lbs! My six year old thought that was really cool!
Then, we headed to the Coinstar kiosk and I enlisted my six year old to help. It gave us a great opportunity to talk about money and coins as he collects most of our coins now-a-days in his own piggy bank. We had a lot of fun sorting the coins through the slot and listening to the clinking of the coins as they made their way through the sorting process. In the picture of our coins below you can see we piled on way too many at first, and that was less than 1/3 of our total jar of coins. We had a lot of coins.
After just a few minutes, all of our coins had been counted, sorted, and collected and it was easy to see exactly what we had deposited above. I grabbed out most of the dollar coins I saw as they went by as those are my official “tooth fairy” coins but I did miss one. In total, I had (1) dollar coin, (158) quarters, (242) dimes, (171) nickels, and (525) pennies. All of that translated to $78.50 in coins and $70.81 deposited to my PayPal account. Since I already had a PayPal debit card from my account, I simply loaded all the funds up to my account. Then, we went to pick up a few groceries we needed while we were at the store.
For us swapping out a jar full of coins for groceries just make sense. Why not cash in all of the coins that have been sitting in a jar for over a year doing nothing for us into groceries and ease our monthly grocery budget? I was able to pick up lots of our weekly grocery essentials that were on sale at Safeway allowing me to stretch my coins even further. I picked up milk, chicken, tuna, cereal, lunchbox supplies, fruits and veggies, and soda for my husband with just over half of the coins I deposited! It was extremely easy to check out using my PayPal debit card with the coins that had already deposited just moments before on the Coinstar machine. You could also choose to withdraw your coins you deposit as a voucher that you can take right to the cashier to make your purchase.
Turn Your Coins to Cash with Coinstar and PayPal
You can turn your own pile of coins to cash by easily depositing them into your PayPal account using your local Coinstar kiosks. To get started, you just visit Coinstar.com/PayPal and register your PayPal account. Then, use their store locator to find a kiosk near you that works with PayPal. This new service can be found at select locations at these local grocery retailers: Albertsons, Brookshire’s, Giant Eagle, Minyard, Safeway, Super 1 Foods. A transaction fee will be assessed with a simple fee schedule. Coins have a 9.8% transaction fee and paper bills can be added with a low fee of just $3 for up to $300 deposited or $200 withdrawn. For more information on how Coinstar and PayPal can help you access your cash easier, stop by Coinstar.com/PayPal.
Disclosure: I received compensation for my time and efforts visiting my local Coinstar and writing this post. The opinions and experience above are my own. Topic: Coinstar and paypal to easily turn coins to cash
Friday 24th of May 2013
That's pretty neat. I may do this with the cash in my daughter's piggy bank.
Thursday 16th of May 2013
I save up my coins every year and when it's vacation time we bring out the "coin cans" and take them to CoinStar. It's so nice carrying those heavy cans in and coming out with some nice GREEN.
Thursday 16th of May 2013
I hate this machine, it eats a good chunk of your savings
Wednesday 15th of May 2013
I really like the idea of turning my coins into paypal money. I did not know that this could be done. I will have to take my coins in soon!
Wednesday 15th of May 2013
I have never used the Coinstar machine but it sounds amazing. Really neat that it tells you how many of each coin you have.