BSP to suspend coin deposit machines starting June 17

MANILA, Philippines — All coin deposit machines in Greater Manila Area malls will temporarily cease operations beginning June 17, the Bangko Sentral ng Pilipinas announced on Friday, May 16.

The public can continue using these machines to exchange coins until June 16, according to the BSP advisory. 

The BSP said it is suspending the use of the machines to study how to improve coin circulation and the implementation of currency exchange service for Filipinos. 

There are currently 25 coin deposit machines spread across various malls in the Greater Manila Area. 

The central bank introduced these coin deposit machines in 2023 to get the public to deposit their idle coins stored at home. Since then, the machines have collected nearly P1.5 billion in coins, according to the BSP.

"Following the review, the BSP will relaunch the Coin Deposit Machines as part of its commitment to enhancing its coin recirculation program," the central bank said in a statement.

During the suspension, consumers with bank accounts can deposit clean coins at their banks. 

Those without accounts can exchange fit, unfit and mutilated coins at banks and selected financial institutions serving as currency exchange centers under the BSP Piso Caravan program.

No timeline was provided for when the coin deposit machines might return to service. 

For any issues related to the use of the machines, customers may contact the support hotline at (02) 8-689-3599 or email [email protected], the BSP said. Issues related to CoDM transactions must be reported to the support hotline or email before July 16 — 30 days after the machines' suspension.