# 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:** 3
**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, 7:55pm UTC](https://boards.straightdope.com/t/why-dont-banks-have-coinstar-type-machines-for-customers/217777/41 "2003-12-09T19:55:25Z")
Actually, they do have branches in New York, **Moe** , although the LI ones appear to be in western LI: [http://bank.commerceonline.com/information/branch\_locations/index.cfm](http://bank.commerceonline.com/information/branch_locations/index.cfm) > [@](#): > > New York > Brooklyn | Manhattan | Nassau | Queens | Rockland > Staten Island | Suffolk | Westchester ---
**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, 9:16pm UTC](https://boards.straightdope.com/t/why-dont-banks-have-coinstar-type-machines-for-customers/217777/42 "2003-12-09T21:16:05Z")
> [@](#): > > Call me a cheapskate, but I think charging 9-10% for sorting coins should be a crime, Ok, you’re a cheapskate, **cheapskate, CHEAPSKATE!!** 😃 I knew this thread would get into this at some point. Some people will simply go to their graves believing that certain things should be free. TV, tire air at a gas station, cashing in coins etc. In the immortal words of Homer Simpson, “Hey, you don’t like it, move to Russia!” **Nothing** is inherently free. Time is money. I take a coffee can full of coins to Stop & Shop, dump them into the Coinstar and walk away with about $270. If it weren’t for Coinstar I would **NOT** be getting $295, I’d be getting **nothing** because it would still be sitting on my shelf! 😉 ---
**Author:** ![Myglaren](https://avatars.discourse-cdn.com/v4/letter/m/f1d935/32.png) [@Myglaren](https://boards.straightdope.com/u/Myglaren)\ **Post date:** [December 9, 2003, 9:45pm UTC](https://boards.straightdope.com/t/why-dont-banks-have-coinstar-type-machines-for-customers/217777/43 "2003-12-09T21:45:30Z")
1/2 the ‘fee’ for the coinstar machines here go to charity, so someone benifits from the charge other than the owners/operators. We give pots of change to our grandchildren to throw in the machines, amuses them to death and they get ‘paid’ pocket money to boot. The cost is minimal, the amusement high. ---
**Author:** ![BiblioCat](https://avatars.discourse-cdn.com/v4/letter/b/ed8c4c/32.png) [@BiblioCat](https://boards.straightdope.com/u/BiblioCat)\ **Post date:** [December 9, 2003, 10:20pm UTC](https://boards.straightdope.com/t/why-dont-banks-have-coinstar-type-machines-for-customers/217777/44 "2003-12-09T22:20:08Z")
> [@](#): > > \*Originally posted by Hail Ants \* > \*\*Ok, you’re a cheapskate, **cheapskate, CHEAPSKATE!!** 😃 > > I knew this thread would get into this at some point. Some people will simply go to their graves believing that certain things should be free. TV, _tire air at a gas station_, cashing in coins etc. > > **Nothing** is inherently free. \*\* (liberally snipped, italics mine) Sure, nothing is inherently free. And capitalism is what made this country great. Whoever came up with the idea for the Coinstar machines in probably rolling in dough, literally. Or maybe coins. And I will go to my grave believing that charging **50 freaking cents** to turn on the air compressor so I can put frigging air in my tires is highway robbery. And I’m not a cheapskate, I’m frugal. 😛 ---
**Author:** ![TheLoadedDog](https://avatars.discourse-cdn.com/v4/letter/t/35a633/32.png) [@TheLoadedDog](https://boards.straightdope.com/u/TheLoadedDog)\ **Post date:** [December 9, 2003, 10:21pm UTC](https://boards.straightdope.com/t/why-dont-banks-have-coinstar-type-machines-for-customers/217777/45 "2003-12-09T22:21:23Z")
> [@](#): > > \*Originally posted by Hail Ants \* > **Ok, you’re a cheapskate, cheapskate, CHEAPSKATE!!** 😃 MUSHROOM! MUSHROOM! ---
**Author:** ![Tim\_T-Bonham.net](https://avatars.discourse-cdn.com/v4/letter/t/46a35a/32.png) [@Tim\_T-Bonham.net](https://boards.straightdope.com/u/Tim_T-Bonham.net)\ **Post date:** [December 9, 2003, 10:30pm UTC](https://boards.straightdope.com/t/why-dont-banks-have-coinstar-type-machines-for-customers/217777/46 "2003-12-09T22:30:56Z")
> [@](#): > > \*Originally posted by Otto \* > \*\*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. \*\* Same here in Minnesota – just take the coins to the teller & they’ll use their machine to sort & count them. But on a real busy day, like the 1st of the month or something, they may ask you to wait or to come back later. I believe some banks have tried to charge for this; they were promptly told by their Minnesota customers where to go (or rather, where their customers would go with their accounts). They pretty much all stopped that, though some banks still charge their commercial customers for counting coins. Guess they just don’t complain loudly enough. ---
**Author:** ![dnooman](https://avatars.discourse-cdn.com/v4/letter/d/839c29/32.png) [@dnooman](https://boards.straightdope.com/u/dnooman)\ **Post date:** [December 9, 2003, 11:56pm UTC](https://boards.straightdope.com/t/why-dont-banks-have-coinstar-type-machines-for-customers/217777/47 "2003-12-09T23:56:15Z")
Pay someone with lots of free time (that guy that does nothing but play online games or playstation) %5 to roll them for you. Works for me. I hand him the jar, and he gives me the cash minus his cut about an hour later. Obviously YMMV. This is for those of us with no free credit union, lazy friends, and an aversion to making a special trip for such things. ---
**Author:** ![suranyi](https://avatars.discourse-cdn.com/v4/letter/s/e36b37/32.png) [@suranyi](https://boards.straightdope.com/u/suranyi)\ **Post date:** [December 10, 2003, 12:03am UTC](https://boards.straightdope.com/t/why-dont-banks-have-coinstar-type-machines-for-customers/217777/48 "2003-12-10T00:03:17Z")
I have a simpler solution than any of you: I spend coins about as fast as I receive them. I carry a small supply of coins with me and that’s all – no big stash at home. Whenever it’s convenient – I’m not in a huge rush, and there’s nobody waiting impatiently after me – I pay for some of my purchase with coins. Anyway, I’ve practiced this for so many years that it takes just a few seconds for me to select the coins I want to pay with. The result is that a have a fairly steady number of coins. Ed ---
**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 10, 2003, 12:17am UTC](https://boards.straightdope.com/t/why-dont-banks-have-coinstar-type-machines-for-customers/217777/49 "2003-12-10T00:17:18Z")
Oh, you’re right - that’s much simpler, **suranyi**! Just spend all the money you have! It’s so simple, it _just might work_! 😉 ---
**Author:** ![suranyi](https://avatars.discourse-cdn.com/v4/letter/s/e36b37/32.png) [@suranyi](https://boards.straightdope.com/u/suranyi)\ **Post date:** [December 10, 2003, 12:44am UTC](https://boards.straightdope.com/t/why-dont-banks-have-coinstar-type-machines-for-customers/217777/50 "2003-12-10T00:44:02Z")
> [@](#): > > \*Originally posted by dantheman \* > \*\*Oh, you’re right - that’s much simpler, **suranyi**! Just spend all the money you have! > > It’s so simple, it _just might work_! > > 😉 \*\* Well, just in case you’re serious, obviously I don’t carry around with me ALL of my money. Just all of my coins, which rarely amounts to more than a couple of dollars, plus whatever cash in bills I feel I need for the day. Ed ---
**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 10, 2003, 12:49am UTC](https://boards.straightdope.com/t/why-dont-banks-have-coinstar-type-machines-for-customers/217777/51 "2003-12-10T00:49:08Z")
Yes, but if you’re going out of your way to spend your coins just to get rid of them, you’re worse off (depending on your perspective) than if you saved it and bought something of value to you. ---
**Author:** ![Enola\_Straight](https://avatars.discourse-cdn.com/v4/letter/e/dec6dc/32.png) [@Enola\_Straight](https://boards.straightdope.com/u/Enola_Straight)\ **Post date:** [December 10, 2003, 2:32am UTC](https://boards.straightdope.com/t/why-dont-banks-have-coinstar-type-machines-for-customers/217777/52 "2003-12-10T02:32:42Z")
> [@](#): > > \*Originally posted by dantheman \* > \*\*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.) \*\* Commerce bank does indeed have a non-fee coin counter…they call it the Penny Arcade…counts your coins, and spits out a reciept you can hand the bank teller for a transaction. ---
**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 10, 2003, 2:35am UTC](https://boards.straightdope.com/t/why-dont-banks-have-coinstar-type-machines-for-customers/217777/53 "2003-12-10T02:35:46Z")
Yes, we know, **Enola** - mentioned it a couple times in this thread. 🙂 ---
**Author:** ![Enola\_Straight](https://avatars.discourse-cdn.com/v4/letter/e/dec6dc/32.png) [@Enola\_Straight](https://boards.straightdope.com/u/Enola_Straight)\ **Post date:** [December 10, 2003, 4:46am UTC](https://boards.straightdope.com/t/why-dont-banks-have-coinstar-type-machines-for-customers/217777/54 "2003-12-10T04:46:27Z")
Ah…um…yeah. ---
**Author:** ![Tamex](https://avatars.discourse-cdn.com/v4/letter/t/ccd318/32.png) [@Tamex](https://boards.straightdope.com/u/Tamex)\ **Post date:** [December 10, 2003, 5:27am UTC](https://boards.straightdope.com/t/why-dont-banks-have-coinstar-type-machines-for-customers/217777/55 "2003-12-10T05:27:48Z")
TCF Bank in the Twin Cities now has self-service coin-counting machines. You can use them for free if you have an account there–if you don’t, they take a (IIRC) 5% “convenience” fee. I’ve never seen a Coinstar machine…it looks like TCF beat them to it in this market. ---
**Author:** ![suranyi](https://avatars.discourse-cdn.com/v4/letter/s/e36b37/32.png) [@suranyi](https://boards.straightdope.com/u/suranyi)\ **Post date:** [December 10, 2003, 6:07pm UTC](https://boards.straightdope.com/t/why-dont-banks-have-coinstar-type-machines-for-customers/217777/56 "2003-12-10T18:07:37Z")
> [@](#): > > \*Originally posted by dantheman \* > \*\*Yes, but if you’re going out of your way to spend your coins just to get rid of them, you’re worse off (depending on your perspective) than if you saved it and bought something of value to you. \*\* That’s true, but I already save something like 40% of my salary so it’s not like this would make that big a difference. Ed ---
**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 10, 2003, 6:11pm UTC](https://boards.straightdope.com/t/why-dont-banks-have-coinstar-type-machines-for-customers/217777/57 "2003-12-10T18:11:17Z")
You save 40% of your salary… how? ---
**Author:** ![suranyi](https://avatars.discourse-cdn.com/v4/letter/s/e36b37/32.png) [@suranyi](https://boards.straightdope.com/u/suranyi)\ **Post date:** [December 10, 2003, 6:58pm UTC](https://boards.straightdope.com/t/why-dont-banks-have-coinstar-type-machines-for-customers/217777/58 "2003-12-10T18:58:54Z")
> [@](#): > > \*Originally posted by dantheman \* > \*\*You save 40% of your salary… how? \*\* Well, I’ve always been a good saver – saving at least 5-10% of my income was normal all my life. But over the last decade I’ve been fortunate enough to have my salary essentially double during the tech boom of the 90s, while my living expenses only increased slowly. (In fact, some have decreased. I’ve refinanced my mortgage, lowering my monthly housing costs.) So far, I’ve managed to keep my big salary increases from the late 90s. I’ve survived several rounds of layoffs at my company and I appear to be safe for the time being. But one never knows, and that’s a reason that I HAVEN’T increased my living expenses as my salary increased. I’m too afraid this is temporary. But for the time being, by savings rate is very high. But we’re way off topic now. Ed ---
**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 10, 2003, 7:04pm UTC](https://boards.straightdope.com/t/why-dont-banks-have-coinstar-type-machines-for-customers/217777/59 "2003-12-10T19:04:13Z")
But that doesn’t have anything to do with your walking-around money, at least not directly. You’re saying you’re already saving quite a bit, and that’s fine - but you’re probably the exception, not the rule. Most people don’t save 40% of their salary. Therefore for them it’s prudent to hang on to the change (toss it in a jar, sort it in a machine, wrap it in rolls, etc.) and then cash it in for something later, rather than just getting rid of it at the first opportunity. ---
**Author:** ![suranyi](https://avatars.discourse-cdn.com/v4/letter/s/e36b37/32.png) [@suranyi](https://boards.straightdope.com/u/suranyi)\ **Post date:** [December 10, 2003, 7:11pm UTC](https://boards.straightdope.com/t/why-dont-banks-have-coinstar-type-machines-for-customers/217777/60 "2003-12-10T19:11:10Z")
> [@](#): > > \*Originally posted by dantheman \* > \*\*But that doesn’t have anything to do with your walking-around money, at least not directly. > > You’re saying you’re already saving quite a bit, and that’s fine - but you’re probably the exception, not the rule. Most people don’t save 40% of their salary. Therefore for them it’s prudent to hang on to the change (toss it in a jar, sort it in a machine, wrap it in rolls, etc.) and then cash it in for something later, rather than just getting rid of it at the first opportunity. \*\* That’s fine, by no means was I saying that I was right and everyone else is wrong. I was just saying what works for me. I don’t like to keep large stashes of coins, nor do I have a reason to do so. It does mean that I don’t have to worry about what CoinStar charges, which leads back to the topic of this discussion. There are many strategies that can be used to encourage saving, and you proposed one that does work for lots of people. As I said in my previous message, I use other strategies. Ed [Previous page](https://boards.straightdope.com/t/why-dont-banks-have-coinstar-type-machines-for-customers/217777.md?page=2) [Next page](https://boards.straightdope.com/t/why-dont-banks-have-coinstar-type-machines-for-customers/217777.md?page=4)