BSP reports PHP831.77M in coins deposited via CoDMs

As of July 15, the Bangko Sentral ng Pilipinas (BSP) reported that PHP831.77 million worth of coins have been deposited through its coin deposit machines (CoDMs), a figure representing 223.02 million pieces of coins from 202,110 transactions.

These CoDMs allow customers to conveniently deposit their legal tender coins into GCash or Maya electronic wallet accounts or convert them into shopping vouchers.

The BSP's Coin Recirculation Program aims to reintroduce idle coins back into circulation to meet the country's currency needs.

Currently, 25 coin deposit machines have been deployed in partner retail establishments across the Greater Manila Area and nearby regions including Robinsons Place Metro East, Pasig City; Novaliches and New Manila (Magnolia) in Quezon City; Ermita, Manila; Ortigas (Galleria); Festival Mall, Muntinlupa City; SM Hypermarket FTI, Taguig City; and several other locations.

This initiative by the BSP continues to facilitate convenient coin deposit services for customers.