Coinstar Reaches Milestone: Over 15 Million U.S. Account Holders Can Transfer Coins or Cash to Their Bank with ‘Retail Remote Transfer’

Coinstar Retail Remote Transfer is extending banking access through its swipe-enabled kiosk network. Over 15 million people can use the Coinstar Retail Remote Transfer program to turn coins and cash into digital currency in their accounts.

Coinstar®, LLC, a global financial services leader, continues to expand critical access to banking services through its Retail Remote Transfer (RRT) program. This service enables over 15 million account holders at participating banks and credit unions to digitize and transfer coins and cash directly to checking accounts from over 10,000 swipe-enabled Coinstar® kiosks at retail locations nationwide. Since its initial launch in 2024, Coinstar has successfully onboarded more than 35 financial institution partners, demonstrating the banking industry’s positive response and adoption momentum. With 93% of Americans still using cash, Coinstar expects to grow the RRT program further in the coming months.

Reports from federal data estimate over $10B of idle coin sitting in American households, indicating a significant market opportunity for banks seeking to expand their customer base and deepen relationships with existing clients. Using debit card rails, RRT enables financial institutions to offer the convenient solution in high-traffic, well-lit areas while reducing manual coin handling and without opening new branches.

“We understand the ongoing challenge financial institutions face in growing account activity, increasing balances, and extending reach in communities with limited physical branch coverage,” said Kevin McColly, CEO of Coinstar. “With Retail Remote Transfer, we offer banks and credit unions an innovative way to meet customers where they are, whether that’s in the branch or at their neighborhood grocery store, without significant operational or capital burdens.”

With zero capital investment required, RRT allows financial institutions to scale without expanding infrastructure, as well as:

• Eliminate overhead and boost profitability. Offload costly in-branch coin handling, armored transport and equipment maintenance with a fully automated solution—improving margins and operational efficiency.
• Expand reach without expanding infrastructure. Scale instantly via 10,000+ swipe-enabled kiosks located in top retailers nationwide—available 7 days a week, even beyond traditional banking hours. No capital investment required.
• Refocus staff on strategic growth. Reduce teller burden, approximately 48 hours of time savings per branch monthly, by shifting routine coin deposits out of the branch, freeing teams to focus on higher-value customer interactions and revenue-driving initiatives.

“We’ve seen branches become more efficient and operationally leaner, allowing staff to prioritize high-value customer interactions that deepen relationships and improve retention,” added McColly.

By providing convenient, everyday access through retail stores—where 92% of Americans reside within a five-mile radius of a kiosk—Coinstar is helping financial institutions capture incremental account activity, enhance customer loyalty and support broader financial inclusion.

With its growing kiosk footprint, Coinstar Retail Remote Transfer helps banks reach more communities at a lower cost, which helps with coin digitisation and banking access.