Got a jar full of coins you’ve been meaning to exchange? Now’s the time to act.
The Bangko Sentral ng Pilipinas (BSP) has announced that it will temporarily suspend the operations of its Coin Deposit Machines (CoDMs) in select malls across the Greater Manila Area starting June 17, 2025. You can still use the machines until June 16, 2025, so make sure to cash in those coins before the deadline.
Why the pause?
The BSP is taking a step back to review and improve the CoDM program. This review aims to find even better ways to put idle coins back into circulation and make coin exchange more efficient and accessible for everyone. After the review, the CoDMs will be relaunched as part of the BSP’s enhanced coin recirculation efforts.
Since their debut in June 2023, the CoDMs have already processed nearly ₱1.5 billion worth of coins—a clear sign that many Filipinos are on board with making their spare change count.
Alternative ways to exchange your coins:
- Have a bank account? You can deposit fit coins at your bank as usual.
- No bank account? No problem. You can still exchange fit, unfit, or even mutilated coins at banks and financial institutions participating as Currency Exchange Centers (CECs) under the BSP’s Piso Caravan program.
- Unfit coins? Any bank is required to accept them and remove them from circulation, helping keep our currency clean and usable.
The BSP remains committed to keeping money moving efficiently throughout the country. Through programs like CoDMs and the Piso Caravan, they’re making sure every coin counts—literally.
Stay tuned for updates on when the machines will return, better than ever!