The BSP reported that a total of 211.68 million individual coins have been deposited across 191,804 transactions.
(Picture from PNA)
One such coin deposit machine is located at the SM Hypermarket FTI in Taguig City, which also sees a sizeable amount of deposits.
The BSP launched the coin deposit machine project on June 20, 2023, in order to address the artificial coin shortage in certain parts of the country caused by residents hoarding or simply forgetting to use their coins, which then accumulate in their homes.
The BSP also implemented this initiative to ensure the continued circulation of coins in good condition throughout the country.
Those who deposit coins into the coin deposit machines can transfer the value of their deposited coins to their GCash or Maya electronic wallet accounts, or exchange them for shopping vouchers.
There are 25 coin deposit machines located at BSP partner establishments in Metro Manila and nearby provinces.
In addition to the SM Hypermarket at FTI-Taguig, there are also machines located at Robinsons Place Metro East, Pasig City; Robinsons Place Novaliches, Quezon City; Robinsons Place Antipolo, Rizal; Robinsons Place Magnolia, Quezon City; Robinsons Place Ermita, Manila; Robinsons Place Galleria, Ortigas; Festival Mall, Muntinlupa City; SM Megamall, Mandaluyong City; SM City Grand Central, Caloocan; SM City Marilao, Bulacan; SM City Taytay, Rizal; SM Southmall, Las Piñas City; SM City Sucat, Parañaque; SM City Calamba; SM City Marikina; SM City San Mateo, Rizal; SM City Valenzuela; SM Mall of Asia, Pasay City; SM City North EDSA, Quezon City; SM City Fairview, Quezon City; SM City San Lazaro, Manila; SM City Bicutan, Parañaque, and SM City Bacoor, Cavite.
