Coinstar Expands Transfer to Account Service with TabaPay and Evolve Bank & Trust
Enables Cash Transfers to Any U.S. Debit Card Across More Than 10,000 Kiosks Nationwide
TabaPay, the leading money movement platform for innovators, and Evolve Bank & Trust, a leading open banking provider, have expanded a partnership with Coinstar to enhance its Transfer to Account service. Consumers using participating U.S. Coinstar® kiosks can now insert cash or coins and transfer funds directly to the account associated with any eligible debit card. This partnership aims to expand Transfer to Account functionality across more than 10,000 Coinstar kiosks in the United States.
While many banks are looking to automate key services, the need to deposit cash or coins in-person can pose an obstacle to modernizing. Cash deposits and especially coin counting can be time-intensive, which becomes challenging as in-person staff is reduced. With Transfer to Account functionality, customers can go to their local Coinstar kiosks and easily transfer cash or coins, receiving the money in their accounts promptly with no bank personnel interaction needed.
“Coinstar machines process more than 70 million transactions annually,” said Kevin McColly, CEO of Coinstar, “but we value finding new ways to improve quality-of-life for customers and partners. Transfer to Account helps more Americans engage with financial services outside of a branch while reducing the operational burden associated with manual coin handling.”
