The Bangko Sentral ng Pilipinas (BSP) has announced that over P1 billion in coins has been deposited through its coin deposit machines (CoDM) since their launch on June 20, 2023.
As of October 11, 2024, the machines have facilitated more than 240,000 transactions and accumulated over 260 million coins.
The CoDM project allows users to deposit coins conveniently, with options to credit them to GCash or Maya accounts or convert them into shopping vouchers, supporting the BSP’s Coin Recirculation Program.
Currently, CoDMs are deployed in various retail establishments across the Greater Manila Area, with plans to add 25 more machines nationwide in 2025.
The BSP encourages users to follow specific guidelines for coin deposits to ensure smooth transactions.
Source: PhilNews24 | October 19, 2024
