In response to growing demand, the Bangko Sentral ng Pilipinas (BSP) has deployed 15 additional coin deposit machines (CoDMs) in the last few weeks, bringing the total number of units available across the Greater Manila Area to 25.
The first CoDMS was launched last June, and so far, the highest single transaction recorded among the CoDMS is worth PHP100,260.00.
The recently installed machines are located at SM Megamall, Mandaluyong City; SM City Grand Central, Caloocan; SM City Marilao, Bulacan; SM City Taytay, Rizal; SM Hypermarket FTI, Taguig City; SM Southmall, Las Piñas City; and SM City Sucat, Parañaque.
There were also additional machines installed at SM City Calamba; SM City Marikina; SM City San Mateo, Rizal; SM City Valenzuela; Robinsons Place Metro East, Pasig City; Robinsons Place Novaliches, Quezon City (QC); Robinsons Place Antipolo, Rizal; and Robinsons Place Magnolia in Quezon City.
IMAGE CREDIT: https://www.bsp.gov.ph/
Every coin counts
Earlier this year, the BSP and its partner retailers had mounted CoDMs at the Festival Mall in Muntinlupa City; SM Mall of Asia in Pasay City; SM City North EDSA in Quezon City; SM City Fairview in Quezon City; SM City San Lazaro in Manila; SM City Bicutan in Parañaque; SM City Bacoor in Cavite; Robinsons Place Ermita in Manila; and Robinsons Place Galleria in Ortigas.
As of September 22, 2023, a total of P87.4 million worth of coins have been deposited into the machines, equivalent to more than 37.2 million pieces of coins from over 37,000 transactions. With more CoDMs installed in various retail establishments, the BSP expects wider public use that can lead to more efficient coin recirculation in the country.
CoDMs allow customers to conveniently deposit legal tender coins and directly credit the equivalent amount to their GCash or Maya electronic wallets (e-wallets).
Alternatively, customers of SM Stores and Festival Mall may redeem the value of their deposited coins in the form of SM shopping vouchers.
The BSP likewise reminds the public to ensure that coins for deposit must not be taped or bundled; must not include foreign objects, such as buttons, magnets, nails, tokens, and screws; and should be placed in the machine’s coin slot by the handful.
Customers are also advised to ensure that their e-wallet accounts are valid and active and that their transactions are within the prescribed wallet and transaction limits of their e-wallet service provider.
For more information, visit the CoDM page of the BSP website at https://bit.ly/BSPcodm. For inquiries or concerns, contact the CoDM Support Hotline at +63 (02) 8-689-3599 or codm@bsp.gov.ph.