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To encourage people to deposit their unused coins in the CoDMs and to support effective coin recirculation in the nation, the BSP is keeping on installing coin deposit machines, also known as CoDMs, in partner retail locations around the Greater Manila Area.
The BSP wants to overcome the artificial coin shortage that exists in some areas of the nation through the CoDM initiative and make sure that only suitable and legal tender money is easily accessible for use by the general public.
Did you know?
The amount of coins deposited in Coin Deposit Machines (CoDMs) as of August 15, 2023 is PhP 37.5 million.
Read related topic: BSP: Over PhP 18.8M in Coin Deposits are Accepted by Coind Deposit Machines
The 3Cs to remember when using the coin deposit machine according to the Bangko Sentral ng Pilipinas (BSP)
Collect your idle coins and bring them to any SM, Robinsons, or Filinvest malls with a CoDM. Ensure that the coins are not taped or bundled before putting them in the coin slot. Do not include foreign objects such as buttons, magnets, nails, tokens, screws, washers, etc.
Reminder: Gently place the coins in the coin slot to ensure that the coins are sorted properly.
For e-wallet credits
Choose your e-money issuer and follow the crediting instructions on the CoDM screen.
Reminder: Ensure that your e-wallet account is not invalid, suspended, or hasn't reached its cash-in limit before using it to covert your deposited coins to avoid any interruption in the transaction.
For shopping voucher
Take the receipt from the machine which will serve as a shopping voucher that may be used in any The SM Store nationwide.
Once the value of deposited coins is converted to e-wallet credits or shopping voucher, you may now use these to pay for your shopping needs!
Location of the Coin Deposit Machines
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 email@example.com.
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