GoTyme Bank makes it easier than ever to convert your spare change into real savings, with interest rates of up to 4 percent annually, which is 60 times more than the average payroll account.
Through a new partnership with the Bangko Sentral ng Pilipinas (BSP), GoTyme Bank customers can now deposit their coins directly into their high-interest savings accounts using BSP’s Coin Deposit Machines (CoDMs).
To do this, locate a CoDM at a mall near you, follow the instructions on the machine to deposit your coins, and link the transaction to your GoTyme Bank account.
Next, use the GoTyme Bank app to create a secure barcode and scan the barcode at the CoDM or enter it manually if needed.
Your coin deposit will be credited to your GoTyme Bank account, where it will start earning 4 percent annual interest. This convenient service allows you to convert your coins into savings without the hassle of going to a bank. The unique barcode system adds an extra layer of privacy and security.
The BSP launched the CoDM project in June 2023 to address the artificial coin shortage in some parts of the country and promote coin recirculation.
CoDMs offer a valuable public service by allowing people to exchange their idle coins for e-wallet credits, shopping vouchers, or now, bank deposits.
As the first bank to integrate with CoDMs, GoTyme Bank offers the unique advantage of converting coins into direct deposits that earn high interest. You can find CoDMs at select Robinsons Supermarkets nationwide.
Robinsons Retail President and CEO Robina Gokongwei is a strong supporter of the BSP’s CoDM initiative, recognizing their role in supporting economic activity and restoring balance in the monetary system.
