News

Coinstar announces new service for banks, credit unions

October 26, 2006

BELLEVUE, Wash. — Coinstar Inc., operator of self-service coin counting kiosks, announced its new Coinstar Direct Coin Deposit service that will allow bank and credit union customers to electronically transfer coin into personal accounts, complemented by Coinstar's new Madison coin-counting kiosk specifically designed for retail financial institution branches. Coinstar's new product line has been developed to enhance customer acquisition and retention strategies for financial institutions while reducing the costs inherent with self-service coin counting.

"Banks are learning that one of the keys to more effective selling at the branch is the intelligent use of automation with self-service devices. The use of appropriate technologies to let customers help themselves at the branch allows staff to focus more on the relationship aspects of banking," said Jerry Silva, research director of retail banking and delivery channels at the TowerGroup.