MANILA, Philippines – You can now add your idle coins and loose change to your digital wallet using the new coin deposit machines of the Bangko Sentral ng Pilipinas (BSP).

As part of efforts to promote coin recirculation, the BSP is encouraging the public to deposit coins “stored in their jars, piggy banks, and other containers” into the coin deposit machines.  

In return, users can credit the amount to their GCash wallet or redeem it in the form of SM shopping vouchers usable in any SM department store. The BSP is also working to bring Maya into the project, with details of its participation still being finalized.

As of Tuesday, June 20, two units of the coin deposit machines are located at SM Mall of Asia in Pasay City, while Robinsons Place Manila in the City of Manila and Festival Mall Alabang in Muntinlupa City have one unit each. Over the next few days, six more machines will be available across the Greater Manila Area. 

Fifteen machines will also be deployed from June to August, with the BSP to announce their availability as the date approaches.

The coin deposit machines accept the following denominations of the BSP Coin Series and New Generation Currency Coin Series:

• 1-centavo
• 5-centavo
• 10-centavo
• 25-centavo
• 1-peso
• 5-peso (round and nonagonal)
• 10-peso
• 20-peso

Users will not be required to present any identification document to deposit their coins. There is also no transaction fee for crediting to an e-wallet or converting into a shopping voucher.

Read the central bank’s FAQs below.

– Rappler.com