Stapled banknotes still acceptable – BSP | Inquirer News
Close  

Stapled banknotes still acceptable – BSP

/ 05:00 AM July 19, 2022
The 1,000-peso polymer bill. STORY: Stapled banknotes still acceptable – BSP

The 1,000-peso polymer bill (INQUIRER FILE PHOTO)

MANILA, Philippines — Stapled paper and polymer banknotes are legal tender and should be used and honored in transactions, even if the Bangko Sentral ng Pilipinas (BSP) discourages the use of staples on peso bills.

The BSP issued this reminder on Monday amid the confusion over the newly issued polymer bills and complaints that some establishments were rejecting folded polymer bills.

ADVERTISEMENT

“Let us not staple our bills because its life will be shortened, whether these are paper or polymer bills,” said Tony Lambino, BSP managing director for strategic communication and advocacy.

In Monday’s Laging Handa briefing, the BSP official clarified that the possession of stapled banknotes was not illegal.

FEATURED STORIES

“Stapled bills should be accepted and honored in everyday transactions,” Lambino said. He suggested that the public use paper bands instead of staple wires to hold banknotes together.

—JULIE M. AURELIO

RELATED STORIES

Do you have a polymer P1,000 bill? Don’t fold it and other dos and don’ts

Social media post on rejected P1,000 polymer banknote goes viral

Read Next
Don't miss out on the latest news and information.

Subscribe to INQUIRER PLUS to get access to The Philippine Daily Inquirer & other 70+ titles, share up to 5 gadgets, listen to the news, download as early as 4am & share articles on social media. Call 896 6000.

TAGS: 1000-peso polymer bills, Bangko Sentral ng Pilipinas, stapled banknotes
For feedback, complaints, or inquiries, contact us.

News that matters

By providing an email address. I agree to the Terms of Use and
acknowledge that I have read the Privacy Policy.



© Copyright 1997-2022 INQUIRER.net | All Rights Reserved

We use cookies to ensure you get the best experience on our website. By continuing, you are agreeing to our use of cookies. To find out more, please click this link.