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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 to 25 the total number of units available across the Greater Manila Area. The first CoDMS were launched last June.
The highest single transaction recorded so far 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; SM City Sucat, Parañaque; 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, QC.
Earlier, the BSP and its partner retailers mounted CoDMs at the Festival Mall, Muntinlupa City; SM Mall of Asia, Pasay City; SM City North EDSA, QC; SM City Fairview, QC; SM City San Lazaro, Manila; SM City Bicutan, Parañaque; SM City Bacoor, Cavite; Robinsons Place Ermita, Manila; and Robinsons Place Galleria, Ortigas.
As of end-September 2023, a total of PHP98.8 million worth of coins have been deposited into the machines, equivalent to 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 will 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 inquiries or concerns about the coin deposit machine (CoDM), you may contact the CoDM Support Hotline at +63 (02) 8-689-3599, or you may send your email to firstname.lastname@example.org.
For more information about coin deposit machines, you may read related topics:
BSP: Over PhP 18.8M in Coin Deposits are Accepted by Coind Deposit Machines
Every Coin Matters: The BSP Coin Deposit Machine Project
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Hi, I'm Ralph Gregore Masalihit!
An RFP Graduate (Registered Financial Planner Institute - Philippines).
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