By Benjamin Cuaresma
MANILA — The Bangko Sentral ng Pilipinas (BSP) is preparing to relaunch its Coin Deposit Machine (CoDM) program later this year as part of a broader initiative to put millions of idle coins back into circulation and make cash transactions more efficient.
BSP Deputy Governor Bernadette Romulo-Puyat announced that the first 25 Coin Deposit Machines in Metro Manila are expected to resume operations between late October and early November 2026, following months of technical enhancements and system improvements.
She said the reopening schedule allows sufficient time for software upgrades, hardware modifications, recalibration, accuracy verification, and full operational testing to ensure the machines perform efficiently before they are returned to service.
The self-service kiosks enable the public to deposit legal tender coins, with the equivalent value instantly credited to their GCash accounts, offering a convenient alternative to keeping unused coins at home.
The BSP suspended the CoDM program last year to reassess its coin recirculation strategy and identify ways to improve operational efficiency while reducing maintenance costs.
One of the key changes involves a partnership with SM, which will help shoulder the expenses associated with collecting deposited coins, significantly lowering the program’s operating costs.
Following the Metro Manila relaunch, the BSP plans to deploy an additional 25 Coin Deposit Machines in 2027 across major population centers, including Pampanga, Baguio, Cebu, and Davao, to make the service more accessible outside the capital.
The expansion reflects the central bank’s continuing efforts to modernize currency management, encourage the return of idle coins into the financial system, and provide Filipinos with faster and more convenient cash-handling services.
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