If you’ve ever had a ton of coins that you need to cash in for dollar bills, you might have used a Coinstar machine at one time or another. They’re about to get a lot more useful because the company just announced that they’re adding PayPal ATM functionality to select machines across the US, starting with Texas, California, and Ohio locations.
PayPal members will be able to go up to a Coinstar kiosk and deposit money into their PayPal account, or withdrawal money as well. Users will also be able to transfer money to another PayPal account. This is great news, since PayPal is online-only, and it allows users to make transactions if they’re not near a computer or don’t have their phone on them.
Of course, though, Coinstar will charge PayPal users fees for using its services, just like any ATM would. Coinstar’s standard coin-counting fee of 9.8% will apply when adding coins to a PayPal account. When deposting or withdrawing paper money, a $3 fee applies for transactions up to $300, and a $6 fee applies for transactions over $300.
Customers will also be limited to adding up to $500 per month. As of right now, PayPal functionality at Coinstar kiosks has begun rolling out several locations across California, Texas, and Ohio, with more locations to be added throughout the year. As for a complete rollout to all Coinstar kiosks, it’s not yet said if that will happen or not, but it seems the company has seen a positive response so far with the few locations they already have available.