Nearly P100M coins stored via deposit machine

FIEL: Bangko Sentral ng Pilipinas (BSP) coin deposit machines (CoDMs).

MANILA – The Bangko Sentral ng Pilipinas (BSP) said that as of September this year, a total of PHP98.8 million worth of coins have been deposited through its coin deposit machines (CoDMs).

In a statement late Tuesday, the BSP said the amount is equivalent to 37.2 million pieces of coins from over 37,000 transactions.

The BSP said the highest single transaction recorded so far among the CoDMS was worth PHP100,260.

CoDMs allow customers to conveniently deposit legal tender coins and directly credit the equivalent amount to their GCash or Maya electronic wallets (e-wallets).

The BSP recently deployed 15 more coin deposit machines, bringing to 25 the total number of units available across the Greater Manila Area.

These 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.

“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,” the BSP said.

The BSP, meanwhile, reminded 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.