# Why don't banks have coinstar-type machines for customers? **URL:** \ **Category:** Factual Questions\ **Created:** [December 8, 2003, 10:12pm UTC](https://boards.straightdope.com/t/why-dont-banks-have-coinstar-type-machines-for-customers/217777 "2003-12-08T22:12:52Z")\ **Posts on this page:** 20\ **Page:** 1
**Author:** ![Moe](https://sea3.discourse-cdn.com/straightdope/user_avatar/boards.straightdope.com/moe/32/2972_2.png) [@Moe](https://boards.straightdope.com/u/Moe)\ **Post date:** [December 8, 2003, 10:12pm UTC](https://boards.straightdope.com/t/why-dont-banks-have-coinstar-type-machines-for-customers/217777/1 "2003-12-08T22:12:52Z")
Doesn’t it seem strange that banks still require you to roll up all your change in those rolls and write your account number on each and every one? I’m thinking there has to be some reason, but I can’t really be sure of what that reason is. I mean, could it be that banks don’t want to spring for the extra cash it would take to buy them? How much could they possibly cost? Could it be a security issue? an accuracy issue? Could having people roll their coins by hand be more secure? I can’t imagine it could be more accurate. 😕 ---
**Author:** ![Casey1505](https://avatars.discourse-cdn.com/v4/letter/c/dc4da7/32.png) [@Casey1505](https://boards.straightdope.com/u/Casey1505)\ **Post date:** [December 8, 2003, 10:38pm UTC](https://boards.straightdope.com/t/why-dont-banks-have-coinstar-type-machines-for-customers/217777/2 "2003-12-08T22:38:57Z")
If you pass off rolls of slugs as rolls of quarters, you are effectively robbing the bank. By putting your name and account on the rolls, should they be slugs, the bank can identify you. In my experience, the Coinstar machines will not accept slugs. In fact, they have even returned silver dimes and quarters that had accidentally made their way into the jar. ---
**Author:** ![Billdo](https://sea3.discourse-cdn.com/straightdope/user_avatar/boards.straightdope.com/billdo/32/315_2.png) [@Billdo](https://boards.straightdope.com/u/Billdo)\ **Post date:** [December 8, 2003, 10:41pm UTC](https://boards.straightdope.com/t/why-dont-banks-have-coinstar-type-machines-for-customers/217777/3 "2003-12-08T22:41:13Z")
**Moe** , some of the banks in New York City have begun to have them, including the aggressive invader from your neck of the Island, North Fork Bank. You may want to try an NFB branch. ---
**Author:** ![Casey1505](https://avatars.discourse-cdn.com/v4/letter/c/dc4da7/32.png) [@Casey1505](https://boards.straightdope.com/u/Casey1505)\ **Post date:** [December 8, 2003, 11:01pm UTC](https://boards.straightdope.com/t/why-dont-banks-have-coinstar-type-machines-for-customers/217777/4 "2003-12-08T23:01:06Z")
:smack: I completely misread the OP. Sorry. The Coinstars are in grocery stores all over here. It may not be worth it for the bank to have one if there’s already one in just about every grocery store in the area. ---
**Author:** ![RealityChuck](https://sea3.discourse-cdn.com/straightdope/user_avatar/boards.straightdope.com/realitychuck/32/195_2.png) [@RealityChuck](https://boards.straightdope.com/u/RealityChuck)\ **Post date:** [December 8, 2003, 11:44pm UTC](https://boards.straightdope.com/t/why-dont-banks-have-coinstar-type-machines-for-customers/217777/5 "2003-12-08T23:44:44Z")
Coinstars charge a fee to do the counting. Banks do not. Why would anyone use the machines in a bank, if they get a better rate by giving it to the teller? Where on Eastern LI, Moe, BTW? I’m originally from Southold. ---
**Author:** ![friedo](https://avatars.discourse-cdn.com/v4/letter/f/8edcca/32.png) [@friedo](https://boards.straightdope.com/u/friedo)\ **Post date:** [December 9, 2003, 12:25am UTC](https://boards.straightdope.com/t/why-dont-banks-have-coinstar-type-machines-for-customers/217777/6 "2003-12-09T00:25:01Z")
> [@](#): > > \*Originally posted by RealityChuck \* > Coinstars charge a fee to do the counting. Banks do not. Why would anyone use the machines in a bank, if they get a better rate by giving it to the teller? Because putting all those coins in the little paper wrappers is a major PITA. That’s why the banks are slowly but surely putting Coinstar type machines in. ---
**Author:** ![yabob](https://sea3.discourse-cdn.com/straightdope/user_avatar/boards.straightdope.com/yabob/32/2821_2.png) [@yabob](https://boards.straightdope.com/u/yabob)\ **Post date:** [December 9, 2003, 1:13am UTC](https://boards.straightdope.com/t/why-dont-banks-have-coinstar-type-machines-for-customers/217777/7 "2003-12-09T01:13:41Z")
Coinstar charges nearly 9% for the service, though, which seems a bit excessive. OTOH, that might mean they’ll be right at home in your average bank. (sarcasm aside, Coinstar machines spit out vouchers only good in the store you used the machine in because they have a kickback arrangement with the store. It’s possible that a bank could pay Coinstar’s cut themselves and make “free Coinstar service” a perk they try to differentiate their bank with.) ---
**Author:** ![Otto](https://avatars.discourse-cdn.com/v4/letter/o/bbe5ce/32.png) [@Otto](https://boards.straightdope.com/u/Otto)\ **Post date:** [December 9, 2003, 1:26am UTC](https://boards.straightdope.com/t/why-dont-banks-have-coinstar-type-machines-for-customers/217777/8 "2003-12-09T01:26:50Z")
Roll coins? Write your account number on them? Where do you people bank? The tellers at my credit union just take my jar of loose coin back to their change machine and dump it in. ---
**Author:** ![yabob](https://sea3.discourse-cdn.com/straightdope/user_avatar/boards.straightdope.com/yabob/32/2821_2.png) [@yabob](https://boards.straightdope.com/u/yabob)\ **Post date:** [December 9, 2003, 1:34am UTC](https://boards.straightdope.com/t/why-dont-banks-have-coinstar-type-machines-for-customers/217777/9 "2003-12-09T01:34:01Z")
Personally, I was speaking hypothetically. I avoid actually entering a bank at all costs, and spend my change rather than collect it, thereby avoiding the need to roll it, or make special trips with a jar full. ---
**Author:** ![foxymoron](https://avatars.discourse-cdn.com/v4/letter/f/d26b3c/32.png) [@foxymoron](https://boards.straightdope.com/u/foxymoron)\ **Post date:** [December 9, 2003, 1:40am UTC](https://boards.straightdope.com/t/why-dont-banks-have-coinstar-type-machines-for-customers/217777/10 "2003-12-09T01:40:18Z")
My bank will not accept rolled coins. They request that the coins be separated by denomination and bagged. Then they take them to the back room and dump them all in the Coinstar. (I don’t know if that’s the actual machine they use, but it’s the same concept.) ---
**Author:** ![dantheman](https://sea3.discourse-cdn.com/straightdope/user_avatar/boards.straightdope.com/dantheman/32/9421_2.png) [@dantheman](https://boards.straightdope.com/u/dantheman)\ **Post date:** [December 9, 2003, 1:53am UTC](https://boards.straightdope.com/t/why-dont-banks-have-coinstar-type-machines-for-customers/217777/11 "2003-12-09T01:53:51Z")
There’s a bank in NJ - I want to say it’s Commerce, or whatever it is now if it’s been bought out - that had the coin-counting machine right there in the bank. I’m pretty sure any Joe Schmoe could walk in and dump his coins into the machine, getting cash in return. (It’s possible I’m misremembering, and you had to input your account number, or something, that proved you were a bank customer. Then it was a free deal.) ---
**Author:** ![SnoopyFan](https://avatars.discourse-cdn.com/v4/letter/s/d07c76/32.png) [@SnoopyFan](https://boards.straightdope.com/u/SnoopyFan)\ **Post date:** [December 9, 2003, 2:10am UTC](https://boards.straightdope.com/t/why-dont-banks-have-coinstar-type-machines-for-customers/217777/12 "2003-12-09T02:10:23Z")
**Why don’t banks have coinstar-type machines for customers?** Not sure about elsewhere but with my bank it’s because they hate their customers and want them to die. Or something along those lines, anyway. ---
**Author:** ![Hail\_Ants](https://avatars.discourse-cdn.com/v4/letter/h/dc4da7/32.png) [@Hail\_Ants](https://boards.straightdope.com/u/Hail_Ants)\ **Post date:** [December 9, 2003, 2:12am UTC](https://boards.straightdope.com/t/why-dont-banks-have-coinstar-type-machines-for-customers/217777/13 "2003-12-09T02:12:35Z")
From Coinstar’s point of view, most banks are not open nearly as many hours or get nearly as much traffic as supermarkets do. From the bank’s, it might look a little trashy to have one of those goofy machines in their lobby. Sort of like if a restaurant installed a Coke machine, it’d appear like they’re not offering full service. Also, those Coinstar machines are **extremely** noisy. Banks usually like to maintain a quiet, library-like ambiance. Not that I’m knocking Coinstars. I think they’re fantastic. I’d still use them if they took a 20% cut! I can think of nothing more tedious, time-consuming, with a lower work/profit ratio than sorting, rolling, having to stand in line at the damn bank to cash in, freakin’ coins! Bubble gum is 50¢, minimum wage is $5.15, movies are 9 bucks… Abolish the penny (and the nickel & dime too!!) ---
**Author:** ![Lord\_Ashtar](https://avatars.discourse-cdn.com/v4/letter/l/7ea924/32.png) [@Lord\_Ashtar](https://boards.straightdope.com/u/Lord_Ashtar)\ **Post date:** [December 9, 2003, 2:52am UTC](https://boards.straightdope.com/t/why-dont-banks-have-coinstar-type-machines-for-customers/217777/14 "2003-12-09T02:52:29Z")
> [@](#): > > \*Originally posted by SnoopyFan \* > \*\ ***Why don’t banks have coinstar-type machines for customers?** > > Not sure about elsewhere but with my bank it’s because they hate their customers and want them to die. > > Or something along those lines, anyway. \*\* You’re going to have to be more specific, as you just described every bank I’ve ever had the (dis)pleasure of dealing with. ---
**Author:** ![Sue\_Duhnym](https://avatars.discourse-cdn.com/v4/letter/s/91b2a8/32.png) [@Sue\_Duhnym](https://boards.straightdope.com/u/Sue_Duhnym)\ **Post date:** [December 9, 2003, 2:58am UTC](https://boards.straightdope.com/t/why-dont-banks-have-coinstar-type-machines-for-customers/217777/15 "2003-12-09T02:58:42Z")
[Ta-da!](http://www.theunderstory.com/index.htm) ---
**Author:** ![dantheman](https://sea3.discourse-cdn.com/straightdope/user_avatar/boards.straightdope.com/dantheman/32/9421_2.png) [@dantheman](https://boards.straightdope.com/u/dantheman)\ **Post date:** [December 9, 2003, 3:01am UTC](https://boards.straightdope.com/t/why-dont-banks-have-coinstar-type-machines-for-customers/217777/16 "2003-12-09T03:01:33Z")
Aha! I was right! [http://www.commerceonline.com/commerce\_news/newsdetail.cfm?newsid=119](http://www.commerceonline.com/commerce_news/newsdetail.cfm?newsid=119) > [@](#): > > The Penny Arcades are simple to use and located next to the teller counter at Commerce branches. Customers simply pour their loose change into the machine’s coin tray and push the start button. In seconds, they receive a receipt that can be exchanged for cash, or the funds can be deposited directly into a Commerce account. The new Penny Arcades are free of charge, unlike coin counting machines found in area grocery stores that charge a usage fee of up to nearly nine percent to count change. Commerce is the only bank in New Jersey, Pennsylvania and Delaware that provides customers with access to free, self-service coin counting machines. Pretty cool, huh? ---
**Author:** ![bouv](https://avatars.discourse-cdn.com/v4/letter/b/bc8723/32.png) [@bouv](https://boards.straightdope.com/u/bouv)\ **Post date:** [December 9, 2003, 5:11am UTC](https://boards.straightdope.com/t/why-dont-banks-have-coinstar-type-machines-for-customers/217777/17 "2003-12-09T05:11:03Z")
Of course, I look at the site Sue linked to, and no banks in my area of New York. Christ, I live near the friggin’ capital of the state and no banks in my area provide free coin counting. Guess I’ll go to Price Chopper and take the 9% cut. ---
**Author:** ![commasense](https://sea3.discourse-cdn.com/straightdope/user_avatar/boards.straightdope.com/commasense/32/3017_2.png) [@commasense](https://boards.straightdope.com/u/commasense)\ **Post date:** [December 9, 2003, 5:44am UTC](https://boards.straightdope.com/t/why-dont-banks-have-coinstar-type-machines-for-customers/217777/18 "2003-12-09T05:44:25Z")
Call me a cheapskate, but I think charging 9-10% for sorting coins should be a crime, and that the people who happily pay it are idiots who deserve to be ripped off. (Hmm… those two sentiments may not be entirely consistent. Oh, well.) I have a simple coin sorter similar to [this one](http://www.reliablehomeoffice.com/ViewDetailPers.asp?ProdID=1285) on my bedside table, and when I empty my pockets at night I drop all my coins into it. Every week or two one of the tubes fills up and I take a couple of seconds to slip the stack of coins into a wrapper. After a few months I take the rolls to the bank, and get all my money for them. Not 90%. One-time cost of about $20 or $30. ---
**Author:** ![dantheman](https://sea3.discourse-cdn.com/straightdope/user_avatar/boards.straightdope.com/dantheman/32/9421_2.png) [@dantheman](https://boards.straightdope.com/u/dantheman)\ **Post date:** [December 9, 2003, 10:45am UTC](https://boards.straightdope.com/t/why-dont-banks-have-coinstar-type-machines-for-customers/217777/19 "2003-12-09T10:45:50Z")
Valid points all, **commasense** , but it’s so much fun to pour your money into the Coinstar machine and watch the machine at work. Yeah, it’s highway robbery, but when you get money back it almost feels like bonus money, even if you’re surrendering 9%. ---
**Author:** ![BwanaBob](https://sea3.discourse-cdn.com/straightdope/user_avatar/boards.straightdope.com/bwanabob/32/2985_2.png) [@BwanaBob](https://boards.straightdope.com/u/BwanaBob)\ **Post date:** [December 9, 2003, 1:03pm UTC](https://boards.straightdope.com/t/why-dont-banks-have-coinstar-type-machines-for-customers/217777/20 "2003-12-09T13:03:07Z")
As a rule I only use coin-star for pennies. They are the most labor intensive/per dollar, hence not worth my time to roll; I’ll let coin-star get 9% of my pennies; never my quarters! [Next page](https://boards.straightdope.com/t/why-dont-banks-have-coinstar-type-machines-for-customers/217777.md?page=2)