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Today i visited a local Coinstar kiosk to sell a gift card I had for extra needed cash. I had never used this kiosk before nor had I heard of it until recently.

I pulled up Coinstar's website and learned a bit about how the process works. Coinstar does post a listing of gift cards that they will purchase (the list also has fine print that states the list is updated every 15 mins) however they do not provide any information on how much the fee will be until you actually visit the kiosk and initiate the process. I had gift card to Banana Republic for $150 and they offered me $93.00. Thats a total fee of $57.00!!!!

just for the convenience of selling the gift card for an instant cash offer. This is a total ripoff in my opinion and if i had not been in desperate need of the cash to pay an unexpected expense i would have declined the offer and pursued a different option.

Im not sure what the fees are for other gift cards but i do not recommend this service to anyone, unless you have absolutely no other options. I hope this article is helpful to other people that may be in the same situation i was in.

Product or Service Mentioned: Banana Republic Gift Card.

Reason of review: Pricing issue.

Company wrote 0 public responses to the review from May 30, 2016.
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Anonymous
Oldwick, New Jersey, United States #1222740

The money is not a fee. The site says they offer between 60-80% of the value which was what you were offered.

Read the fine print. Also, if you would have read reviews on other sites they all say the same thing about the offer value.

Anonymous
Slippery Rock, Pennsylvania, United States #1201918

Coinstar kiosks offer 60%-85% for gift cards depending on what you have. Walmart, Best Buy, and Home Depot pay at the high end while department stores(like Banana Republic, Kohls, JC Pennies, etc.) and restaurants pay on the low end.

This is the way all gift card buyers operate but online vendors pay slightly more...

The convenience of not waiting a week for a check is why Coinstar and in person vendors give less. There are pawn shops and check for cash places that only give 50% which IS a rip off!

Anonymous
to Anonymous Philadelphia, Pennsylvania, United States #1252908

I still have to wait 7 days to get my money because the machine said it blew a fuse after it took my card and scanned my licence. ...thats convenient. But they still said they were going to take the same amount.You guys are such a scam.I am in process of reporting to better business bureau as we speek.

Anonymous
to Anonymous Chicago, Illinois, United States #1337874

As I am doing the same. Machine never printed out receipt.

But they have been holding my money for 3 days now.

Not my fault they machines are down. Customer service very rude.

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