Coin Deposit Machine Collections Hit P1.3-B
Manila: The Bangko Sentral ng Pilipinas (BSP) said over PHP1.3 billion worth of coins have been deposited through its coin deposit machines (CoDM). As of Feb. 15 this year, the total coin collection amounted to PHP1.308 billion. The amount is equivalent to 326.18 million pieces of coins from 299,457 transactions. According to Philippines News Agency, the CoDM project, launched on June 20, 2023, allows customers to conveniently deposit their legal tender coins to be credited to their GCash or Maya electronic wallet accounts, or converted into shopping vouchers. The coin deposit machines support the BSP’s Coin Recirculation Program to put