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.