A Decade’s Worth of Coins
A man finally cashed in his Star Wars piggy bank, which he had been filling for ten years. The piggy bank, shaped like a Stormtrooper helmet, contained 4,945 coins. When he dumped the coins into a Coinstar machine at a grocery store in Portland, Oregon, he received $597.45.
The Coinstar Fee
However, the original total of the coins was $686.61, but a Coinstar processing fee of $89.16 was deducted. The man, Eli, could have avoided the fee if he had chosen to receive an e-gift card, donated to a charity, or sent the coins to a partner bank account.
Alternative Options
Eli stated that he knew he could have avoided the fee by getting a gift card, but there were no good options available at the store. Social media users pointed out that he could have taken the coins to a bank to avoid the fee. Some banks have currency exchange counters that can count coins for free, and some even allow you to open an account with the money and have it counted for free.
Lessons Learned
Eli learned a costly lesson about reading the fine print and taking his time. He wishes he had taken the time to roll the coins and take them to the bank, as he didn’t realize the fee would be so high. Next time, he plans to roll the coins himself and take them to the bank.
Avoiding Fees in the Future
To avoid fees, individuals can take their coins to a bank or use self-checkout machines to pay for groceries, which can count the coins for them. It’s essential to read the fine print and explore alternative options to avoid high fees. By doing so, individuals can keep their hard-earned money and avoid costly surprises.
