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Manila Bulletin devider Business devider Banking & Finance devider Filipinos recycle ₱1.4 billion in coins with BSP deposit machines

Filipinos recycle ₱1.4 billion in coins with BSP deposit machines

Published Mar 25, 2025 05:49 am

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About ₱1.4 billion was the total value of coins the Bangko Sentral ng Pilipinas (BSP) collected from its coin deposit machines installed across Metro Manila and its neighboring provinces.

According to the central bank, the total coin deposits increased by nearly eight percent, or ₱100 million, as of mid-March from the ₱1.3 billion collections recorded in February.

This total was collected from almost 312,000 transactions since the project was launched in 2023.

By volume, the tally of collected coins from deposit machines reached 340 million pieces as of March 17.

Late last year, the BSP said it would expand the project by installing 25 more deposit machines beyond Mega Manila—Metro Manila, including the provinces of Bulacan, Cavite, Laguna, and Rizal. This means deposit machines will be assigned to other parts of the country this year.

“This will make it more convenient for Filipinos to deposit their idle coins, helping recirculate them back into the economy while promoting cashless transactions,” the central bank had said.

Through the coin deposit machines, Filipinos can deposit legal tender coins into the machines and have the total value credited to their GCash or Maya e-wallets, GoTyme bank accounts or converted into shopping vouchers.

The central bank advises customers using the machines to avoid taping or bundling coins and to ensure they are free from objects like buttons, magnets, nails, tokens, screws, or washers.

Also, the BSP said coins should be gently placed in the slot in small bunches rather than pouring in large amounts.

Customers are also advised to ensure their e-wallet accounts are valid, active, and within the allowed transaction limits.

To date, coin deposit machines are present at the following locations: 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 Galleria, Ortigas; Festival Mall, Muntinlupa City; SM Megamall, Mandaluyong City; SM City Grand Central, Caloocan City; SM City Marilao, Bulacan; SM City Taytay, Rizal; SM Hypermarket FTI, Taguig City; SM Southmall, Las Piñas City; SM City Sucat, Parañaque City; SM City Calamba, Laguna; SM City Marikina; SM City San Mateo, Rizal; SM City Valenzuela City; 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 City; and SM City Bacoor, Cavite.

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Bangko Sentral ng Pilipinas (BSP)
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