BSP to suspend operations of coin deposit machines | ABS-CBN
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BSP to suspend operations of coin deposit machines
BSP to suspend operations of coin deposit machines
MANILA -- The Bangko Sentral ng Pilipinas (BSP) said it will temporarily stop the operations of coin deposit machines in the Greater Manila Area.
MANILA -- The Bangko Sentral ng Pilipinas (BSP) said it will temporarily stop the operations of coin deposit machines in the Greater Manila Area.
In a statement, the BSP they will suspend the operations of these machines starting June 17 to review how to re-circulate idle coins and serve Filipinos’ coin exchange needs even better.
In a statement, the BSP they will suspend the operations of these machines starting June 17 to review how to re-circulate idle coins and serve Filipinos’ coin exchange needs even better.
After the review, the BSP said it will relaunch the machines to improve its coin recirculation program.
After the review, the BSP said it will relaunch the machines to improve its coin recirculation program.
In the meantime, the public may deposit fit coins in banks where they have an account, the BSP said.
In the meantime, the public may deposit fit coins in banks where they have an account, the BSP said.
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The central bank noted that coin deposit machines have processed some P1.5 billion worth of coins since they were introduced in June 2023.
The central bank noted that coin deposit machines have processed some P1.5 billion worth of coins since they were introduced in June 2023.
Before the introduction of coin deposit machines, the supply of coins was becoming an issue for the central bank.
Before the introduction of coin deposit machines, the supply of coins was becoming an issue for the central bank.
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