BSP to suspend ops of coin deposit machines in select malls next month
The Bangko Sentral ng Pilipinas said on Friday that it will temporarily suspend the operations of its coin deposit machines (CoDMs) in select Metro Manila malls starting June 17, 2025.
'The BSP is implementing the temporary suspension to conduct a thorough review of how to re-circulate idle coins and serve Filipinos' coin exchange needs even better. Following the review, the BSP will relaunch the Coin Deposit Machines as part of its commitment to enhancing its coin recirculation program,' the BSP said in an advisory.
The BSP said the public can still deposit their coins until June 16.
The central bank noted that almost P1.5 billion worth of coins have been processed in the machines since the CoDMs were launched in 2023.
Further, the BSP advised that the public can still deposit their fit coins in banks. It added that those with no bank accounts may exchange their fit, unfit, and mutilated coins in banks and other financial institutions serving as currency exchange centers under the BSP Piso Caravan program.
'Unfit coins may be presented for exchange at any bank as part of their duties to promptly remove unfit currency from circulation,' the BSP said. — BAP, GMA Integrated News
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