The BSP is now looking to install 25 more coin deposit machines nationwide in 2025
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EXCHANGING COINS. Bangko Sentral ng Pilipinas Governor Felipe Medalla and Robinsons Retail Holdings president and CEO Robina Gokongwei-Pe try out the new coin deposit machine at Robinsons Place Manila on June 20, 2023.MANILA, Philippines – The Bangko Sentral ng Pilipinas has collected over a billion pesos in its coin deposit machines , an initiativeto have idle coins circulated back into the economy while promoting cashless transactions.
In a statement on Thursday, October 17, the central bank said it had collected a total of P1,008,889,490.24 through 25 CoDMs across the country as of October 11. This was deposited in the form of over 260 million coins and over 240,000 transactions. Coins deposited should not be taped or bundled together and customers should ensure that objects — such as buttons and screws — are not included in their bundle. The coins can be placed in the machine “in handfuls.”Loose change deposited by customers can be credited in e-wallet accounts such as GCash, Maya, or GoTyme bank accounts.The BSP said it is looking to install another 25 CoDMs nationwide in 2025.
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