Coinstar Questions...

[krakatoa]

So, it's been an interesting week. One of my dump banks closed my account because they didn't like my change. I had to find another one and found a CU with a couple of locations in my area with a Coinstar in the lobby. If you're a member, they reimburse the 8.9% charge. So I got my membership and made my first dump there last week-- about $1500. I was impressed that I was able to dump it all, but it did take quite a bit longer because the slot was pretty small and the halves kept getting stuck. So here's my questions, I've been searching online to no avail:

• Where does Coinstar take all the coins? Do they just take them to the bank or roll themselves. I'm hoping they take them out of my area.

• How often does Coinstar get the coins from the machines? I would imagine they are able to see how full the machine is getting via some meter that transmits data to their route manager, etc.

• Does the Coinstar machine separate out the coin like the bank coin sorters or does it all just go into a big pot? If I had to guess, I'd have to say it all goes into the pot, but that's why I'm asking these questions.

I'd appreciate any feedback or experiences any of you may have about this. Thanks[/list]

 

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[TxTim]

They contract with Brinks or Loomis, etc. to pick up full boxes and replace with empty ones. Boxes get switched out by bank personnel when they fill up. I see that full boxes (which are on rollers), total $3K - $6K.
No meter involved - just routine pickups with machine receipts showing totals by denomination.
These machines are counters, not sorters. Coins get sorted back at the contractor's warehouse or shipped to CWI to get wrapped.