Award Winning Coin Deposit Programme in Poland

The lack of facilities to deposit coins presents a significant barrier to an efficient cash cycle. So, it was good to hear of a new initiative from the National Bank of Poland (NBP), namely a coin deposit solution, which won the Best New Product, Feature or Distribution Innovation category in the IACA Excellence in Currency for Coins Awards, presented at the Coin Conference.

The solution was also the subject of a presentation during conference by the NBP’s Krzysztof Kowalczyk, Deputy Director of the Cash and Issue Department.

Poland has a population of 31 million (plus, currently, 1.3 million Ukrainian refugees). It covers an area of 312,000 km² and the central bank has 16 branches throughout the country, one for each voievodeship (administrative region, or province), all providing cash services. Its currency, the zloty, is denominated in six banknotes from 10 to 500 zlotys, and in nine coins, from 1 grosz to 5 zlotys.