The Bangko Sentral ng Pilipinas (BSP) announced Friday the temporary suspension of its coin deposit machines (CoDMs) in select malls in Metro Manila effective June 17, 2025.
The BSP said the suspension is to allow for a thorough review aimed at improving the recirculation of idle coins and better serving the public’s coin exchange needs. The public can still use the CoDMs until June 16, 2025, it said.
The BSP said it plans to relaunch the CoDMs following the review as part of its ongoing efforts to enhance its coin recirculation program.
Since their introduction in June 2023, the CoDMs have processed nearly P1.5 billion worth of coins.
In the interim, the BSP advised the public that they can deposit fit coins at banks where they hold an account.
Individuals without bank accounts can exchange fit, unfit and mutilated coins at banks and other financial institutions participating as currency exchange centers (CECs) under the BSP Piso Caravan program, it said.
The BSP also reminded the public that all banks are obligated to accept unfit coins for exchange as part of their duty to remove them from circulation.
The BSP said it is committed to pursuing efficient coin recirculation through various programs, in line with its mandate to maintain an efficient payments and settlements system in the Philippines.