They said that the central bank’s pilot project to extract coins from the population will be carried out in one of the regions in 2022. “Rossiyskaya Gazeta” At the Bank of Russia. In order to conduct experiments, they will choose areas where residents are usually unwilling to recirculate coins.
In 2020, the Bank of Russia issued more than 1.3 billion coins, that is, 9 coins issued by citizens of each country. The newspaper stated that the production cost of these coins was 3.8 billion rubles, a large part of which was settled in the piggy bank of Russians, who now “do not know what to do”.
In the context of the pandemic, the share of coins returned to the cash register of Russian banks (not lost, but continued to be used as a means of payment) dropped to 46% (2019) -63%). The Bank of Russia said in a statement: “More and more merchants are ordering and receiving coins to issue change, but at the same time they refuse to accept coins from the public in order to reduce the cost of recounting and collecting coins.” Published “The main direction of cash flow development.”
In order to return more coins, the central bank plans to stimulate the use of terminals to receive coins. The Bank of Russia pointed out that they already exist, but their wide distribution is hindered by low profit margins and high commissions. Therefore, in Moscow, the commission reaches 20% of the accepted change amount. However, you can take it to the bank, and if you request it to be credited to a current account or deposit, the bank does not have the right to charge a commission (but it can be used for simple exchange of banknotes). As stated in “Promsvyazbank”, given the weight of “iron” money and its low denomination, the exchange of coins among the crowd is not particularly necessary.
In order to restore the circulation of coins, the Bank of Russia has provided several tools: hold “coin day events” at bank branches and participate in the coin platform, which will redirect the flow of coins from organizations that receive coins to those who need the coin Organization (The platform covers eight regions in 2020, and this year the central bank plans to expand it to five regions. By 2025, about a quarter of the token transaction volume will pass through the platform). Collecting coins through special equipment is a new direction.
According to VTB, the development of the project depends on the manufacturer’s willingness to bring coin-accepting devices to the market-the price and characteristics make it suitable for banks in terms of the economic efficiency of the entire process of accepting and processing coins. In other words, the process should provide banks with self-sufficient services, and the cost of providing services to customers should be sufficient. VTB pointed out: “According to our estimates, a positive project economy can be achieved through a large number of coins, including the integration of the efforts of the entire banking industry and the retail industry.”