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Paypal deposit added to some Coinstar kiosks, more to come

updated 03:20 pm EST, Wed February 27, 2013

Coin-counting company continues to add services

Starting today across most of the installed base of machines, Coinstar kiosks are able to add to or withdraw cash from Paypal accounts, either with deposited coins, or cash in select locations. The feature has already been introduced in Texas, northern California, and Ohio with the initiative said to "continue at select kiosks throughout the year," according to a Coinstar statement.

Some fees apply to the transfer. Coinstar's standard 9.8 percent coin-counting fee applies, if coins are used. If paper money is deposited, a $3 fee applies to the transaction for amounts up to $300, and a $6 fee for deposits up to $500. Users are only allowed to move $500 per calendar month. Withdrawals are subject to a $3 fee regardless of amount, and totals are restricted to $500 in a calendar month, and $200 per day.

Coinstar has approximately 20,300 coin-counting locations in the United States, Canada, Puerto Rico, Ireland, and the United Kingdom. Coinstar kiosks process about 50 billion coins a year, amounting to approximately $3 billion in loose change recovered.

by MacNN Staff




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