BSP: Stapling of bills discouraged, but cash still usable
MANILA, Philippines — While the stapling of paper or polymer bills is discouraged, the Bangko Sentral ng Pilipinas (BSP) stressed on Monday that stapled bills can still be used and should be accepted.
BSP Managing Director Tony Lambino said possession and use of stapled banknotes, although discouraged, is not illegal.
“Ang stapling ay sana ho huwag nating gawin dahil ang buhay ng ating mga bills, whether paper or polymer, ay iiksi,” Lambino said during the Laging Handa briefing.
(Let us not staple our bills because their life will shorten, whether it’s made of paper or polymer.)
“Pero gusto ko rin idagdag, ang possession and use of stapled bill, hindi yan ilegal. Dapat tanggapin pa rin ang stapled bills at pwede pa ring gamitin sa pang-araw-araw na transaksyon,” he added.
(But I would like to add that the possession and use of stapled bills are not illegal. Stapled bills should still be accepted, and they can still be used for everyday transactions.)
Nonetheless, Lambino stressed that the public is discouraged from stapling their banknotes. Instead, the public can use paper bands to hold them together.
“Ang gusto natin talaga para sa kapakanan ng taumbayan ay mahaba ang buhay ng ating salapi. ‘Yung stapling huwag na lang ho sana nating gawin,” Lambino said.
(What we want to happen for the sake of our countrymen is for the longer validity of our bills. So let us not staple our bills.)
Lambino made the remark in light of the confusion over the dos and don’ts with the new P1,000 polymer bill.
He stressed that the new banknote remains usable and should be honored even if folded, contrary to complaints by netizens on social media about their folded polymer banknotes being rejected by malls and other establishments.
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