BSP to banks, retailers: Accept folded polymer P1,000 bills

By Gabriela Baron

The Bangko Sentral ng Pilipinas (BSP) called on banks and retailers to accept folded banknotes, whether paper or polymer, for day-to-day payment transactions.

This after concerns were raised on social media on the non-acceptance by some establishments of folded P1,000 polymer banknotes.

Recently, the BSP issued guidelines on the proper handling of polymer banknotes including storing them in wallets where they fit properly to avoid creases.

However, BSP clarified that the guidelines “apply to both paper and polymer banknotes.”

“The handling guidelines were issued to raise public awareness on the proper use of polymer and paper banknotes to safeguard their integrity and prolong their lifespan,” it said.

“If an individual is doubtful on the value and/or authenticity of a banknote, he or she is encouraged to go to any bank for assistance. The bank will then refer the banknote to the BSP for examination.” – ag

Popular

PBBM orders free train rides for commuters as Labor Day tribute

By Dean Aubrey Caratiquet In recognition of the workers’ dedication and sacrifices towards contributing to the economic progress and growth of the nation, President Ferdinand...

PBBM rallies new cops: Let the people feel presence of law

By Brian Campued “Let our people feel your presence, feel the presence of the law enforcers, feel the presence of the law.” Such was the reminder...

‘Bente Bigas Mo’: P20/kg rice in Kadiwa stores starting May 2 — D.A.

By Brian Campued In pursuance of President Ferdinand R. Marcos Jr.’s goal of making affordable rice accessible to more Filipinos across the country, the Department...

PBBM extends condolences, solidarity over tragic Lapu-Lapu Day Incident in Vancouver, Canada

By Dean Aubrey Caratiquet Lapu-Lapu Day is a celebration held on the 27th of April in honor of the Visayan chieftain who defeated Spanish forces...