Almost MOP14 million processed through coin exchange machines

In November 2021, the Monetary Authority of Macao (AMCM), in coordination with the two note-issuing banks (BNU and Bank of China), launched the first six automatic coin exchange machines in Macau aiming to facilitate citizens exchanging small change into larger bills or coins.

Since then, a total of 20.49 million coins with a total value of MOP13.69 million have been processed through these machines, the AMCM said in a written response to an inquiry from the Times.

The number and value exchanged also led the AMCM to affirm that this measure has proven efficient.

The AMCM said that, currently, there are a total of 10 machines throughout the Peninsula and Islands, indicating that the decision to add four more machines took into account factors such as the distribution of the machines through the whole territory and social development.

The four additional machines were installed in the northern district as well as in Taipa and Coloane in December 2022.

The same authority told the Times that with the placement of the current 10 machines, it is believed that they can service all major livelihood and commercial districts in Macau.

According to the monetary authorities, at present, the most common denomination exchanged is the MOP0.1 (10 avos), followed by the MOP1 coins, accounting respectively for 52% and 27% of the total number of coins exchanged.

Of the 10 existing machines, five are in BNU branches, and the other five are in Bank of China (BOC) branches.

Locations in the Peninsula are BOC (San Ma Lou), BOC (Red Market), BOC (Rua de 5 de Outubro), BOC (Villa de Mer), BNU (Iao Hon), BNU (Fai Chi Kei) and BNU (NAPE).

In Taipa, there are coin exchange machines in the BNU (Nova City) and BNU (Kinglight Garden) and, in Coloane, there is a machine at BOC (Praia Park).

Fast and efficient but attention is needed

The Times has personally tested several automatic coin exchange machines at both BNU and BOC branches.

The machines and operation interfaces are the same between the two banks as both use Payboy technology equipment and software.

The interface is very user-friendly and is available in Chinese, Portuguese and English, catering to a broad audience.

The machines only accept Macau patacas and it is very likely that among the small change are also HKD coins which, in most cases, appear physically similar to MOP coins.
If you insert HKD coins, the machine will automatically reject them and return them to the refund box.

Another thing to consider is the total amount that you insert into the machine as there are limits (500 pieces of coins) and it is convenient to introduce an exact amount each time so the machine can process the value and transform it into bank bills.

Unless the aim is to collect MOP1 coins, the user should introduce fractions of MOP10, 20, 50, or 100.

The first step to operate the machine includes entering a valid mobile phone number to identify the user. Later, the machine will use this number (or, alternatively, an email address) to send the user a receipt.

Damaged coins that are, for example, bent and rusty should not be inserted into the machines.

At least in the locations that the Times visited, the coin exchange machines are located in the main public areas of the bank branches, which means that they can only be operated during the banks’ office hours.

The machines accept all coins in circulation, including the now rare MOP2 and MOP10 denominations.

Coins are less popular but not obsolete

Despite the growing popularity of electronic payment methods, the AMCM says that there is still demand for the use of MOP coins as a legal medium of exchange. In that sense, the authority said it will “continue to monitor changes in public demand for coins to ensure that the distribution, collection, and circulation of coins meet the payment needs of the public.”

AMCM also advised it will keep track of coin recycling status as well as the coins inventory level regularly, clarifying that, until now, the usage frequency of the machines has remained stable.