What Is Coin Out App? One Of The Best Make Money From Receipts Apps

There are numerous money saving apps for iPhone and Android. Most of the popular apps are related to grocery shopping (Ibotta, Fetch Rewards just to name a few) or online shopping cashback apps such as Ebates and TopCashback.

I’d like to introduce you to Coin Out – a new FREE app that allows you to make money from ALL your receipts.

Yes, I mean it – ALL the receipts, from ANY store, merchant, gas station, museum, restaurant, coffee shop – ANY place!

I saw this app mentioned in a comment in one of the Facebook forums and decided to check it out.

Here is my full Coin Out review with all the details you need to know before you download it.

Coin Out Review – Quick summary:

Description
 An app that gives you cash for ANY scanned receipt
Rating 😀 😀 😀 😀 😀 9.5 out of 10. Give it a try!
Minimum Cash Out
$2.5 with PayPal. No minimum for other options
Payout Options Direct deposit, PayPal, Amazon Gift cards
Pros Any receipt is eligible

Very fast scanning

New fun features added from time to time

Cons ♠ Sometimes there are technical issues

♠ The cashback per receipt is small

 

Is Coin Out a Scam Or A Legit App?

https://mocashforyou.com/how-to-save-on-online-shopping-an-incredibly-easy-method-revealedCoinOut was founded by Jeffrey Witten, Columbia University graduate in law and finance.

Jeff’s initial idea was to help people who like using cash but hate carrying the change in their wallets. Collecting the coins in some type of piggy bank is not really a solution, as it becomes more and more difficult to find a place that can accept such a big amount of coins without a fee.

The second part of the new app was scanning receipts from any store for small cashback.

With this idea, Jeffrey participated in Shark Tank show on February 18th, 2018 and made a deal with Robert Herjavec, selling 15% of the equity for $250,000. The deal was mentioned as great success on several financial websites, like Forbes.

Probably, the digital change wallet idea turned out not sustainable, as it is not offered anymore, but CoinOut moved on and focused on the receipt scanning feature, knowing that the users base is a valuable asset that can be leveraged in many different ways. In October 2018 new cash back feature was launched, competing with EBates and similar websites.

The company is in the process of development and is constantly adding new offers and ways to make money.

CoinOut’s rating in the iTunes store is 4.7 based on more than 3,100 reviews. It’s absolutely free and legit app.

How Does Coin Out Work?

Now, let me explain to you exactly how does CoinOut work and how to maximize your earnings with this awesome app.

Sign Up

First, you need to download the app from the link below. It only takes a few minutes.

Download CoinOut button

The next step will be to provide the required information and get the verification code in the text message.

Done?

Now you can start scanning receipts. The app itself is very intuitive and easy to use. Here is how the main screen looks like:

coin out app main page

 

You see how simple and clean it is? You can manage your settings using the icon in the top left corner.

What Receipts Are Accepted By Coin Out?

Coin Out accepts almost ALL the receipts of ANY kind with very few exceptions (see in the next section). The only requirement is for the receipt to show the date of the transaction, the store name, the total amount and line items with prices. The scanned picture must be clear and readable for the app to process the receipt.

Personally, I have uploaded different kinds of receipts:

– Grocery store receipts

– Gas station receipts

– Museum tickets

– Retailers receipts

– Restaurant receipt

Your scanned receipts can be found later in the app, just in case you need them for any reason.

 

What Receipts Are NOT Accepted By Coin Out?

There are few receipt types that are not eligible to receive cash back from CoinOut:

– Receipts from ATM

– Lottery tickets

– Credit Card Slips

– Money Orders

– Barcode pictures or QR pictures

In addition, any doubled receipts wouldn’t get a cash back.

 

How To Scan Receipts With Coin Out?

You only can take one picture of your receipt. If it’s too long to fit one shot, just fold it in a way that keeps the important information showing up. From my experience, this app is the fastest for scanning, as you only make one shot and you don’t need to answer any additional questions. Just a few seconds after you scan the receipt, you see how much you have earned. Super fast and simple.

Here is a short video showing you how to use CoinOut app with long receipts :

 

If you have any e-receipts from online shopping, you can get cashback on them as well. Just forward the receipt to receipts@coinout.com and add your mobile number in the text. Make sure you send the email the SAME day of the purchase, otherwise you won’t get any credit.

More Ways To Make Money With Coin Out

In addition to scanning receipts, Coin Out offers other fun ways to earn money. To learn more, you can sign up for “Earn More CoinOut” newsletter or check the “Coupons” section in the app and see the updated offers and bonuses.

Cash Back for online shopping

In October 2018, Coin Out added a new feature – cash back for online shopping at selected stores. The main offer is up to 11% cash back at Walmart. I’m sure more offers will come soon.

How is it different from other sites like TopCashback and Ebates? Coin Out promises to get better rates. My advice is to check several cash back sites before making a purchase.

Related post: How to Save on Online shopping?

Cashback eligible retailers at coinout

Coin Out Gold

These are bonuses granted daily to randomly selected uploaded receipts.

Coin Out Badges

The latest addition to Coin Out app are the badges, that you can see on the main page, like this:

coin out badge section of main menu

What are CoinOut badges? They are additional benefits that may change from time to time. For example, the badges on the image above are:

1.  The badge for Special Trivia game.

2. +$1 Badge that can be activated when your balance is over$20. Activate and get a $1 bonus.

3. VIP Badge gives unlimited withdrawals for 1 week if you complete 2 CoinOut online cash back transactions.

4. 2x Cash Back Badge. Get double in-store receipt bonuses for 1 week once you complete any CoinOut online transaction.

There is also +4 receipt badge that gives you 4 extra receipts per day for one week.

CoinOut is very creative and frequently adds new fun badges.

Promotion of the Week

Upload a receipt from a featured store or type of merchant (for example, pharmacy or coffee shop) and get an entry into the Friday giveaway.

CoinOut on Social media

You can follow Coin Out social media accounts (Facebook, Instagram, and Twitter), check for the news and comment on specific posts for a chance to win Friday giveaway.

Play Trivia with CoinOut

Coin Out runs weekly Trivia contests with $150-$200 pot to be split between the winners. The bonus is added on Fridays.

Coin Out Partner’s Offers

Coin Out cooperates with other companies, like Stash Investment and Chime Bank, and offers special bonuses for the users who sign up for the partner’s offers. You’ll be able to see these offers in the app or in the Newsletter.

Coin Out Referral Program

You can get your personal referral link through “Share and Earn” button in the app or share the app with your friends via Facebook, Twitter or email. The referral bonus is currently $0.75 – quite low, but maybe it will get better in the future.

How Much Money Can You Make With CoinOut?

scanned receipts with cashbackIt’s not going to replace your regular job, of course, but for many people, as for myself, every dollar counts. Why not get a few bucks with a fun and almost effortless app?

You can upload several receipts every day, there is no official limit, but the company says it can vary from daily.

The amount of cash back per single receipt is also unknown up front. The CoinOut policy is to set up a daily range of minimum and maximum amounts and then draw a random number from this range for each uploaded receipt. The amount doesn’t depend on the store, total balance or other data from the receipt.

From my personal experience, the cashback for a single receipt is usually between $0.01 to $0.20. Your total earnings will depend on how many receipts you have and manage to upload.

 

CoinOut – Payout options

cashout options in Coin OutYou have 3 payout options with CoinOut: Direct deposit into your bank account, PayPal and Amazon Gift Card.

The minimum amount is $2.5 for PayPal. No minimum for the other two options.

As this is a new app, I’d recommend to cash out frequently and not accumulate large amounts in your account. Unfortunately, there is no guarantee that the app will be proven as a long-lasting success. It happened in the past, that even very promising apps had to shut down. Enjoy CoinOut, but better keep your money close.

Here is a payment proof of my cash out of $9.62 via PayPal:

payment proof - paypal

Coin Out Security – Is it safe to use CoinOut?

When you open an account, Coin Out uses multi-factor verification, including 6-digit code sent as a text message to your registered mobile phone.

The funds in your account are held by Coin Out at an FDIC insured bank account. The funds never expire.

The company doesn’t retain any personal identifiable information.

What Are The Cons? CoinOut Complaints

As it’s a relatively new app, it happens that a new version has technical issues after app’s upgrade. I’ve read in the CoinOut users Facebook group that the app can be suddenly stuck with a black screen or produce blurry screenshots. Sometimes the receipts are not processed immediately and you need to rescan several times.

Personally, I didn’t encounter any issue during the time I use the app.

How CoinOut Makes Money?

How can Coin Out afford to pay cash back for any receipt and stay a completely free app?

My understanding is that the current business model of Coin Out is to partner with several companies and offer their services to Coin Out users. I assume that these partners pay for the referrals and may also refer their clients to Coin Out.

Coin Out Support

If you have any issue, you can contact support@coinout.com. I’ve got a prompt and helpful response from the support team every time I’ve asked a question.

MoCashForYou Verdict

CoinOut is a FREE, easy to use and legitimate app that allows you to scan any receipt and get paid.

It works fast and provides even more fun ways to make money.

I think Coin Out App is moving in the right direction and will add more interesting features in the future. It’s worth getting it now so you’ll be able to check the new offers as soon as they are added.

Download CoinOut button

Feel free to share this post with your friends on social media – let them know about CoinOut and join the fun.

If you are already into scanning receipts, don’t forget to check out additional apps:

Ibotta,  Checkout 51 and Saving Star – Digital Grocery Coupons App

Fetch Rewards – Get cash back for Any grocery store receipts and for purchasing participating brands.

Related posts:

What is Paribus app? Effortless Price Drop Protection

How to get a discount on Amazon Prime?

How to Save on Online shopping? An Incredibly Easy Method Revealed

 

 

What is your favorite money saving app? I’ll be glad to hear from you in the comments below.

 

Truly Yours,

Mary

mocashforyou logo

P. S.

Are you interested to learn how to start a business online and create an income from your passion?

You can start for free and learn it step by step from the Best Online Marketing University. This is where I started this website, without knowing anything about coding. You can do it too.

Mary

My name is Mary and I'm the owner of MoCash For You.

43 thoughts on “What Is Coin Out App? One Of The Best Make Money From Receipts Apps

  • November 16, 2018 at 11:17 pm
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    I do remember seeing this on Shark Tank.  I guess it didnt quite work out but still seems to be doing okay.  What I like about this is that you can keep all your receipts from the day and do a one time download each day.

    I really think this is something I would like to get my wife to do.  Any extra dollars these days surely does help.

    Thank you for sharing this opportunity.

    Could I ask what is the most you have heard of anyone earning?

    Reply
    • November 17, 2018 at 9:15 am
      Permalink

      Hi Dale,

      The biggest earnings came from two options:

      1. The sweepstakes for those who use the cashback options, sign up for partner sites and comment on Friday Cash day Facebook posts – can be $100 bonus

      2. Referring many friends.

      However, recent addition of cash back from several retailers makes earnings faster.

      Personally, I upload receipts, play Trivia and sometimes refer people. Not my main source of income LOL, but nice to add from time to time.

      Thank you for reading and asking questions.

      Mary

      Reply
  • November 16, 2018 at 11:01 pm
    Permalink

    Hi Mary

    Thanks for such a comprehensive and informative article!

    I agree with you that every dollar counts and the beauty of what you are saying is that we get receipts anyway, so this is money for jam (so to speak…and literally!).

    I was wondering if you could answer a couple of questions.

    Firstly, do you have a view for what the average household can earn each month?  I imagine the key here is the female as, without being sexist, I have been taught that the lady of the house accounts for 85% of household purchases.

    Secondly, do you know which countries the app is available in?  Specifcally, can it be used in Australia?

    Thanks again,

    David

    Reply
    • November 16, 2018 at 11:10 pm
      Permalink

      Hi David,

      Thank you for your questions.

      How much money can you make? Depends on how many receipts you have. Some people buy coffee or visit McDonalds several times a day. I don’t. You also can collect receipts from family, friends or any place you see them and upload.

      But receipts are not the only way to make money with CoinOut. They recently added new cash back section with some popular retailers like Walmart.

      I also like their Trivia challenges for more money every week.

      It’s available in the US only, as of now.

      Mary

      Reply
  • November 5, 2018 at 10:08 pm
    Permalink

    That’s pretty amazing that you can scan any receipt.  That’s really different than most of the apps out there.  I am always looking for ways to save money or earn extra money, which is why I love your site!  Great information all the time.  Now this!  Wow, where do you find this stuff?   I mean, it definitely doesn’t pay a fortune, but money is money, and I’m signing up!!  Thanks so much!!

    Reply
    • November 5, 2018 at 10:26 pm
      Permalink

      That’s one of the benefits of being in the personal finance and saving niche – you find more and more saving tools every day.
      Welcome to Coin Out!
      It’s fun and easy, you’ll like it
      Mary

      Reply
  • October 30, 2018 at 7:15 pm
    Permalink

    Hi, I really like this article. I may even download it myself. Do you still use it or other receipt scanners? I personally haven’t tried anything like this, but was looking into stuff similar so I could get a little money back while I am not working. I think you have sold me on this. from what you have said it sounds very trustworthy, and even though it isn’t big money back, every penny counts in my book. 

    Reply
    • October 30, 2018 at 7:32 pm
      Permalink

      Hi,
      I use Coin out and other apps I mention on my site – Ibotta, Fetch Rewards and others (see the Recommendations in the main menu)
      You can scan the same receipt with multiple apps – why not?
      I see it as kind of a game 🙂
      Mary

      Reply
  • October 30, 2018 at 6:46 pm
    Permalink

    wow excellent! it is my first time to hear about Coin Out app. The app seems to be fantastic but i have some question.

    -is this app applicable all over the world?

    -What is the benefits of the app owner?

    Thank you for sharing  this great review and i hope i get answers to those short questions.

    Reply
    • October 30, 2018 at 7:23 pm
      Permalink

      Hi there,
      Here are the answers to your questions:
      The app is available in the US only, as of now.
      Coinout owners want to make money, I guess :). Either from their partners or from selling the company at some point.
      Mary

      Reply
  • October 30, 2018 at 6:46 pm
    Permalink

    This is interesting. I had no idea that a comprehensive rebate system was out there. Seems to me that there’s also a wide variety of possible results–from your own (of 1 to 20 cents per receipt) to earning rebates on PayPal of at least 2 and a half dollars. Based on this, I can see the draw. At first, I was concerned about security, but then I saw how you addressed my fears; I like the multi-factor verification process that they invoke, to ensure my identity and my funds are kept safe. I also like what you said about how CoinOut makes money, because at first it didn’t make much sense to me. To hear that they partner with other companies, while offering their services, seems like a good way to ensure that everybody wins–buyers, sellers, and CoinOut themselves. Thanks for enlightening me on this service.

    Reply
    • October 30, 2018 at 7:26 pm
      Permalink

      Hi Kevin,
      It started from the 1-20 cents per receipt. Recently they added cash back rewards for shopping with Walmart, Hotels, Ebags and other retailers.
      This way you can earn much faster.
      It’s a simple and fun app.
      Thank you for visiting
      Mary

      Reply
  • October 30, 2018 at 6:45 pm
    Permalink

    Hi Mary,

    This is something new to me, but I found your article very interesting and I have downloaded the app.  I will try and see how much money I can earn with it.  A dollar saved is a dollar earned right? I am curious to know how long did it take you to accumulate $9.62 with this app, and approximately how many receipts did you scan?

    Thanks for this opportunity

    Reply
    • October 30, 2018 at 7:29 pm
      Permalink

      Hi Denis,
      in Russian, they say something like “a cent saves a dollar”. Any money you can get is better than zero if there is not too much effort to get it.
      Coinout is very simple and fast.
      I scan any receipt I can get from family members. Daily maximum changes every day, can be around 7-12 per day.
      A large part of my rewards comes from referrals – $0.75 per referral. I’m sure you can recommend it to a couple of friends, right?
      Happy savings
      Mary

      Reply
  • October 30, 2018 at 6:32 pm
    Permalink

    Mary thanks for this review of the Coin Out App. I had not heard of it before. I’m familiar with money saving apps in Australia and online ways of saving what used to be the lose change and coin in your wallet, now your digital wallet.

    The scanning receipts aspect I am curious about. Do you know if this can be used in Australia? I would also be interested in finding their privacy policy to check in with how the data from the receipts is being used or shared too., just to go in ‘eyes wide open’.

    Reply
    • October 30, 2018 at 6:48 pm
      Permalink

      Hi Fleur,
      Currently, Couinout is not available in Australia, but who knows, maybe it will be in the future.
      The receipts are probably used for some statistics, but I doubt they are really important. Many people scan any receipt they can find, be it their own, from a friend or found on the mall’s floor.
      Thank you for stopping by.
      Mary

      Reply
  • September 27, 2018 at 9:29 am
    Permalink

    Thank you. I downloaded it while I was reading the article! I haven’t a receipt to scan or I would have already tried it out! I had previously downloaded Fetch Rewards from your suggestion and that app works beautifully, too! Thank you, Mary! Every little bit we can save or earn helps!

    So far, my favorite is Fetch Rewards as I have earned almost $10 just by scanning all my receipts.

    Reply
    • September 28, 2018 at 8:40 am
      Permalink

      Hi Karin,
      I’m sure you’ll like CoinOut as well.
      For other readers who might not know what do you mean – here is the full review of FetchRewards.
      Thank you for reading my posts!
      Mary

      Reply
  • September 26, 2018 at 12:06 am
    Permalink

    That’s pretty awesome Mary! Thanks for sharing the app and your review on the app:) I’ve had a couple of friends use a similar app and receive gift cards, etc from companies for taking pics of their receipts. My friends would always say, “if you don’t need that receipt-give it to me!”
    How do the people that make these apps benefit?? Just curious
    And, Thanks again. I’m downloading this first thing in the morning! lol

    Reply
    • September 26, 2018 at 8:36 am
      Permalink

      Hi Jennifer,
      There are two major ways for this type of an app to make money:
      1. Partners – for example, CoinOut promotes Stash and Chime bank, so I guess CoinApp gets some commission for the referrals
      2. Customer base – having a large email list or customer base, the app owners hope to “make an exit” by selling the whole app to some large firm who will make use of this base.
      Happy “coining out”!
      Mary

      Reply
  • September 25, 2018 at 11:55 pm
    Permalink

    Hey, Mary!

    I loved the article. It’s such a great opportunity to never waste a dollar! Every dollar counts.
    Thank you for all the insights, I truly appreciate it!

    Matiss

    Reply
    • September 26, 2018 at 8:33 am
      Permalink

      Hi Matiss,
      Every penny counts! In Russian, they say something like “a penny saves a dollar”.
      Thank you for stopping by!
      Mary

      Reply
  • September 25, 2018 at 4:07 pm
    Permalink

    In your article, you say there is a video showing you how to use coin out but it doesn’t show up on the page…

    Reply
    • September 25, 2018 at 4:25 pm
      Permalink

      Thanks, Mariah. This video keeps disappearing. I added a similar one again. Hope it will stay.

      Reply
  • September 21, 2018 at 6:45 am
    Permalink

    Hi Mary,

    I just stumbled this app, then I Googled what is coin out app, and found your post. This article explains everything and I feel confident now in using it. I think its a great idea to make savings as you shop as many times you don’t notice what is the best product to buy to do so. There are many apps online that promise savings but the coin out app seems to have that little bit more for your buck!

    Thank you Mary for your research and now I am off to do some shopping with this app – wish me luck.

    ~Philip.

    Reply
    • September 21, 2018 at 8:39 am
      Permalink

      Hi Philip,
      Many people know how to get cash back for online shopping. (By the way, my favorite site for this is TopCashback). However, few people use apps to get cash for their regular shopping receipts. I’m glad now you know you can trust Coin out, as it’s a legit and fun app.
      Mary

      Reply
  • September 21, 2018 at 3:02 am
    Permalink

    Hi Mary, that looks to be an interesting app. You detail it very well and it’s just a pity i’m not in the USA to take advantage. Best of luck with it though.

    Reply
    • September 21, 2018 at 8:49 am
      Permalink

      Hi Dave,
      I hope that Coin Out will make it available for additional countries in the future
      Mary

      Reply
  • September 21, 2018 at 12:10 am
    Permalink

    I just downloaded the app and scanned my first receipt. Thanks for the app, now I can get paid for the paper in my wallet. I would like to see a small description at the top to know what the first couple of links are for.

    Reply
    • September 21, 2018 at 8:48 am
      Permalink

      Hi Joe!
      Thank you for your feedback, I’ll try to make it easier to understand.
      Mary

      Reply
  • September 21, 2018 at 12:05 am
    Permalink

    Dang Mary, this is awesome, I just scanned 6 receipts, so I am on my way to early retirement!! LOL, okay maybe not, but it’s pretty cool. I do have one question. We shop at Sprouts here in Arizona and the receipts are printed on both sides of the paper. Will this be an issue, or is there a special way to scan? Thanks for pointing this app out, so far I love it.

    Reply
    • September 21, 2018 at 8:52 am
      Permalink

      Hi Steve!
      Well, we are not going to get rich from this, but I see it like finding nickels on the floor every day. Why not pick them up?
      To your question – you need to have some basic information like store logo, date and total scanned. Try to fold the receipt to make it visible.
      Another option is sending an email to the CoinOut support team. They are super quick and helpful.
      Mary

      Reply
  • September 7, 2018 at 4:42 pm
    Permalink

    Hello Mary,
    A very interesting app indeed. Great review. My question – the receipts have to be from your personal purchases or can you use those of others? Is it only valid for the USA? Or are there other participating retailers who have locations worldwide?
    It sounds great – every penny adds up and it is a painless effort to scan some barcodes.
    All the best.
    Michelle

    Reply
    • September 7, 2018 at 9:38 pm
      Permalink

      Hi Michelle,
      As of now, you can upload anyone’s receipt, but in the future, the company might require only family receipts to be used.
      As of now, it’s only in the US. Every penny adds up indeed. Sometimes you also get bonuses and gifts from Trivia or other activities.
      Even kids can do it if you don’t have time to scan
      Happy savings,
      Mary

      Reply
  • September 7, 2018 at 3:59 am
    Permalink

    Wow, so interesting. Never heard about it.
    I like the thorough article, I might give it a try. 🙂
    Thanks for an informative post.

    Reply
  • September 6, 2018 at 1:24 pm
    Permalink

    Thanks for the review! This app is a good idea and sounds easy to use. I tried to download it, but unfortunately it’s incompatible with my phone. My phone is probably too outdated! I will see if I can get any of the other similar apps you listed.

    Reply
    • September 6, 2018 at 4:23 pm
      Permalink

      Hi Bailey,
      I’m trying to find out with CoinOut support what is the technical requirement for the phone. What model do you have – iPhone or Android? What OS version?
      Mary

      Reply
  • September 6, 2018 at 2:36 am
    Permalink

    Love it I’m actually going to download it now! free money off something i already have why not? Great content!

    Reply
    • September 6, 2018 at 7:51 am
      Permalink

      Great, Jamaar! I’m happy you like this app. It’s really fun and easy way to make an extra income.
      Mary

      Reply
  • September 5, 2018 at 11:58 pm
    Permalink

    That was a great review !
    I’m always looking for ways to make money online in my spare time and I had heard of Coin Out and assumed that it was a scam!
    But after reading your review and actually checking it out, it actually looks like a cool app to make extra dough!
    Thanks ! And I guess it really is best to not jump to conclusions !
    Mike

    Reply
    • September 6, 2018 at 7:46 am
      Permalink

      Hi Mike,
      Yes, sometimes our first impression is not correct. When I saw the name of this app in a Facebook group, I thought that maybe it’s also some type of pyramid, as the most of the stuff posted there. But appears it’s legitimate and fun app.
      Enjoy the savings!
      Mary

      Reply
  • September 5, 2018 at 10:56 pm
    Permalink

    I have heard of this app from my coworker and now I cannot wait to get it! Your article is very thorough and you answered all the questions in my head about this app! I appreciate it!

    Reply
    • September 5, 2018 at 11:03 pm
      Permalink

      Hi Kris,
      I’m glad it’s helpful. You can download CoinOut in a few minutes and test it with any recent receipt.
      Happy savings!
      Mary

      Reply

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