After a social media backlash over a viral folded Php1000 polymer banknote, the Bangko Sentral ng Pilipinas (BSP) clarified and announced that folded polymer banknotes can still be valid for any payment transactions.
"BSP informs the public that folded banknotes, whether paper or polymer, can still be circulated and accepted for payment. As such, retailers and banks should accept them for day-to-day payment transactions."
The advisory came after an incident of non-acceptance by some establishments of folded Php1000 polymer banknotes went viral on social media.
The BSP said that it issued guidelines on the proper handling of polymer banknotes. "This includes storing banknotes in wallets where they fit properly, keeping them clean, and using them as payment for goods and services."
These applies to both paper and polymer banknote.
BSP informs the public that folded banknotes, whether paper or polymer, can still be circulated and accepted for payment. As such, retailers and banks should accept them for day-to-day payment transactions.
— Bangko Sentral (@BangkoSentral) July 12, 2022
READ: https://t.co/TPMNy3I4TX#BSP #currency #polymer #banknotes pic.twitter.com/EmP2VSeqcV
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