Report BSP Suspends Coin Deposit Machines in Greater Manila for Evaluation

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In a recent announcement, the Bangko Sentral ng Pilipinas (BSP) declared the temporary cessation of all coin deposit machines in Greater Manila Area malls, effective June 17. This suspension will allow the BSP to assess how to enhance coin circulation and improve the currency exchange service for Filipinos.

 

Currently, 25 coin deposit machines operate across various malls in the region. The machines, introduced in 2023, have successfully collected nearly P1.5 billion in idle coins from the public, indicating significant engagement. The public can continue using these machines to deposit coins until June 16.

 

Following the assessment, the BSP plans to relaunch the Coin Deposit Machines as part of its ongoing commitment to refining its coin recirculation program. During the suspension, consumers with bank accounts are encouraged to deposit clean coins at their respective banks. Those without bank accounts can exchange coins—fit, unfit, and mutilated—at banks and selected financial institutions participating in the BSP Piso Caravan program.

 

While no specific timeline has been provided for the machines' return, the BSP ensures continued support for any customer issues. Customers experiencing problems with the machines can contact the support hotline at (02) 8-689-3599 or email [email protected]. It's important to report any issues regarding CoDM transactions before July 16, 30 days post-suspension.

 

  Adapted by ASEAN Now from PhilStar 2025-05-16