The Bangko Sentral ng Pilipinas (BSP) on Thursday announced that its coin deposit machines (CoDMs) have collected over P1 billion since their launch in June 2023.
The total stands at P1,008,889.49, with more than 260 million coins deposited across nearly 240,000 transactions.
Building on this momentum, the BSP plans to install 25 additional CoDMs nationwide in 2025 to enhance accessibility for Filipinos looking to deposit idle coins. The initiative not only encourages coin recirculation but also promotes cashless transactions.
Users can deposit legal tender coins into the machines, which credit the value to e-wallets like GCash or Maya, or convert them into shopping vouchers. The BSP reminds users to ensure their coins are free from foreign objects and that their e-wallet accounts are valid.
Currently, CoDMs are installed in various locations, including Robinsons and SM malls across Metro Manila and nearby provinces.
