A total of P783.6 million coins, numbering 211.68 million pieces, have been deposited through the Bangko Sentral ng Pilipinas' (BSP) coin deposit machines (CoDM) from 191,804 transactions as of June 23.
The BSP launched the CoDM project on June 20 last year, and it has been a resounding success. The project was initiated to address the artificial coin shortage in some regions of the country and to ensure that only fit and legal tender currency is readily available for public use.
CoDMs allow customers to conveniently deposit their legal tender coins, which are credited to their GCash or Maya electronic wallet accounts or converted into shopping vouchers.
The coin deposit machines play a crucial role in supporting the BSP's Coin Recirculation Program. This program is designed to put idle coins back in circulation, effectively serving the country's currency needs and making a significant impact on the economy.
The BSP has deployed 25 CoDMs in partner retail establishments across Greater Manila.
These are located at Robinsons Place Metro East, Pasig City; Robinsons Place Novaliches, Quezon City (QC); Robinsons Place Antipolo, Rizal; Robinsons Place Magnolia, QC; Robinsons Place Ermita, Manila; Robinsons Place Galleria, Ortigas; Festival Mall, Muntinlupa City; 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; SM Mall of Asia, Pasay City; SM City North EDSA, QC; SM City Fairview, QC; SM City San Lazaro, Manila; SM City Bicutan, Parañaque; and SM City Bacoor, Cavite.