BI to Introduce Coin Deposit Machine

Deputy Director of the BI Financial Management Department Asral Mashuri in Jakarta, Tuesday 4, 2016, said that Bank Indonesia (BI) is planning on implementing a coin deposit machine to ease people in saving the form of money.

“The machine would look like an ATM, but this one is for coins, and the machine can sort out the money; which is one thousand and one hundred. It would be easy for people to use,”  he said.

According to Asral, nowadays, many people keep the coins and left it uncirculated. The uncirculated coins have forced BI to reprint it, although coins have a longer lifespan than paper money.

A coin deposit machine is hoped to help banking institutions in retracting the coins. “This also accelerates the money circulation, and later on, banking institutions can retrieve money from people’s savings,” Asral said.

He added that it will be implemented as soon as possible. The study is still ongoing; it will be realized but not in the coming months. “The machine will be available for the public to use soon as possible,” Asral said.