October 2, 2007

Turn Your Spare Change into Gift Cards

Coinstar Gift Card

Coinstar offers one of the most convenient services available to purchase gift cards. Scrounge together your spare change, whether its collecting dust underneath the sofa cushions or wasting away in a jar. Take the spare change to the nearest Coinstar machine, most of often located at grocery stores or credit unions. Select the gift card you want, such as ITunes, Amazon.com, Starbucks, etc. Deposit your coins into the machine. Take the print out receipt to the checkout line. The cashier will activate the gift card for the amount you want. It’s that simple. It’s absolutely brilliant!

Currently, Coinstar is running a great promotion. Exchange $30 of coins for a Amazon.com gift certificate. Complete the print out receipt and mail it in to get a bonus $10 Amazon.com gift certificate, that is a 33% bonus. Offer good on qualified transactions made between October 1, 2007 and November 4, 2007. Limit of only one bonus gift certificate per name per household.

If you just want cash for your loose change, then Coinstar will gladly exchange the coins for cash but will charge you a “coin counting” fee of 8.9% for transactions in United States, a 9.8% fee in Canada, and a 7.9% fee in the U.K. There is no “coin counting” fee for gift cards. We assume that Coinstar waives the coin “counting fee”, because they generate sufficient revenue from the merchants to offset the loss. Unless you are in a major hurry, it makes better sense to take your spare change to your bank (hopefully, one that does not charge a teller fee) and deposit the spare change into your bank account.

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