A BANGKO Sentral ng Pilipinas (BSP) effort to improve the circulation of money has led to the collection of almost P708 million from coin deposit machines.
A BANGKO Sentral ng Pilipinas effort to improve the circulation of money has led to the collection of almost P708 million from coin deposit machines.As of May 15, a total of P707.7 million had been deposited and exchanged for e-wallet credits or shopping vouchers. The number of transactions recorded since the initiative launched last year was said to have reached 174,656.
Twenty-five machines were set up in malls owned by SM, Robinsons and Filinvest in Metro Manila and nearby cities. BSP Deputy Governor Bernadette Romulo-Puyat has said that another 25 would be added this year.Collected coins will be credited to the depositor's GCash or Maya accounts, or converted into shopping vouchers. The e-wallet accounts should be valid, active and within prescribed transaction limits, the central bank has said.
Machine Collections Hit P707.7M
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