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
