Macao Expands Coin Exchange Machines to Enhance Currency Management

In November 2021, the Monetary Authority of Macao (AMCM) deployed six initial coin exchange machines across Macau for citizens to convert loose change into bills or larger coins. With 20.49 million coins processed, totaling MOP13.69 million in value, the AMCM commends the success of this initiative. Currently, 10 machines are strategically placed throughout the peninsula and islands, including four recently installed in the north, Taipa, and Coloane.

Monetary Authority of Macao Introduces Additional Coin Exchange Machines to Enhance Currency Management

Macao, December 2023: In a significant move to streamline currency exchange and facilitate convenience for citizens, the Monetary Authority of Macao (AMCM) has announced the expansion of its network of automatic coin exchange machines. This initiative, launched in collaboration with the two note-issuing banks, Banco Nacional Ultramarino (BNU) and Bank of China (BOC), has proven highly effective in addressing the demand for efficient conversion of small change to larger denominations.

Since the inception of the program in November 2021, these self-service machines have processed an impressive 20.49 million coins, translating to a total value of MOP13.69 million. The overwhelming utilization of these machines underscores their efficacy in addressing the specific needs of Macao's residents.

Geographic Expansion and Convenient Accessibility

Recognizing the growing demand for coin exchange services, the AMCM has strategically deployed an additional four machines, bringing the total number to 10 across the Peninsula and Islands. These machines have been meticulously placed in key locations to ensure accessibility for all citizens. Four of these machines are situated in the northern district, while the remaining two have been installed in Taipa and Coloane.

The current distribution of these machines, encompassing BNU branches at Iao Hon, Fai Chi Kei, and NAPE, and BOC branches at San Ma Lou, Red Market, Rua de 5 de Outubro, Villa de Mer, Praia Park, Nova City, and Kinglight Garden, ensures that all major livelihood and commercial districts in Macao are adequately served.

User-Friendly Interface and Wide Acceptability

The user interface of these machines has been meticulously designed to cater to a diverse audience, offering language options in Chinese, Portuguese, and English. They seamlessly accept Macau patacas, ensuring a hassle-free exchange experience.

To optimize the exchange process, it is advisable to avoid inserting HKD coins, as they are likely to be rejected and returned to the user. Additionally, it is recommended to insert exact amounts to facilitate seamless processing and avoid unnecessary delays. Unless the user's intent is to collect MOP1 coins specifically, it is recommended to insert multiples of MOP10, MOP20, MOP50, or MOP100 to maximize the exchange value.

Operational Instructions and Safety Considerations

Initiating the coin exchange process is straightforward, requiring only the input of a valid mobile phone number for user identification. The machine subsequently utilizes this number (or, alternatively, an email address) to transmit a receipt upon completion of the transaction.

To ensure the longevity of the machines and prevent potential damage, it is imperative to refrain from inserting damaged coins that exhibit bending, rust, or other physical impairments. These machines are primarily located in the main public areas of bank branches, and as such, their operation is confined to the banks' business hours.

Sustained Demand for Coins Amidst Electronic Payment Adoption

Despite the growing prevalence of electronic payment methods, the AMCM acknowledges the persistent demand for coins as a legitimate medium of exchange within Macao. In this regard, the authority remains steadfast in its commitment to monitoring public demand for coins, ensuring that the distribution, collection, and circulation of coins remain aligned with the payment needs of the citizenry.

The AMCM's continuous monitoring of coin recycling status and inventory levels ensures that the supply of coins remains adequate to meet demand. The steady usage of the automatic coin exchange machines attests to their effectiveness in addressing a specific need within Macao's financial ecosystem.