Photo courtesy of Philippine News Agency
MANILA – The Bangko Sentral ng Pilipinas (BSP) reported that, as of September this year, a total of PHP 98.8 million worth of coins have been deposited through its Coin Deposit Machines (CoDMs).
In a statement released late on Tuesday, the BSP announced that this amount is equivalent to 37.2 million coins from over 37,000 transactions.
The highest single transaction recorded among the CoDMs was worth P100,260.
CoDMs enable customers to conveniently deposit legal tender coins, with the equivalent amount directly credited to their GCash or Maya electronic wallets (e-wallets).
The BSP has recently deployed an additional 15 coin deposit machines, bringing the total number of units available in the Greater Manila Area to 25.
These machines are located at the following places: 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.
“With more CoDMs installed in various retail establishments, the BSP expects wider public use, which will lead to more efficient coin recirculation in the country,” the BSP stated.
The BSP also reminded the public to ensure that coins for deposit must not be taped or bundled, should 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 fall within the prescribed wallet and transaction limits of their e-wallet service provider.
(ai/mnm)
