Remember the many coin deposit machines (CoDMs) of the Bangko Sentral ng Pilipinas (BSP) installed in key locations in the Philippines? The BSP is aiming to relaunch the coin deposit machines program before the end of this year, according to a news article by the Philippine News Agency (PNA).
It is recalled that almost P1.5 billion worth of coins were deposited before the BSP suspended their program in June of 2025.
To put things in perspective, posted below is an excerpt from the PNA article. Some parts in boldface…
The Bangko Sentral ng Pilipinas (BSP) is aiming to relaunch the operation of coin deposit machines (CoDMs) in Metro Manila before the end of the year.
In a recent media luncheon, BSP Deputy Governor Bernadette Romulo-Puyat told reporters the BSP is targeting the initial relaunch of the existing 25 CoDMs for the last week of October to early November 2026.
“This timeline takes into account the required software enhancements, modifications to the enclosure and hardware components, as well as the calibration, accuracy testing, and end-to-end testing of the existing CoDM units prior to deployment,” Romulo-Puyat said.
CoDMs allow customers to conveniently deposit legal tender coins and directly credit the equivalent amount to their GCash electronic wallets.
To recall, the BSP temporarily suspended the operation of CoDMs last year to review how to re-circulate idle coins.
Following the review, the BSP will relaunch the coin deposit machines as part of its commitment to enhancing its coin recirculation program.
Romulo-Puyat said the BSP partnered with SM to lower the operational costs of the CoDMs.
“The coin retrieval was so expensive, so we found ways for the private sector to be able to bear the cost,” she said.
Aside from the 25 CoDMs earlier deployed in Metro Manila, another 25 will be deployed in other areas next year.
Let me end this post by asking you readers: What is your reaction to this recent development? Do you agree with the Supreme Court’s decision on the law about VAT refund for foreign tourists? Apart from the VAT refund for foreign tourists, what problems that plagued the Philippine tourism industry should the government solve this year?
You may answer in the comments below. If you prefer to answer privately, you may do so by sending me a direct message online.
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