Businesses told to accept coins, polymer banknotes – even if folded

FILE PHOTO: The circulating P1,000 bill ha been chosen as the “Bank Note of the Year 2022.” INQUIRER FILES

MANILA, Philippines — The Department of Trade and Industry (DTI) reminded businesses and consumers to accept centavo coins and polymer banknotes – even when folded – as these are accepted as legitimate payments for transactions in the country.

The agency issued an advisory on the matter in response to consumer complaints that some establishments declined folded polymer banknotes as payment.

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“Both paper and polymer banknotes – even when folded – as well as centavo coins are legal tender in the Philippines. As such, all business establishments and individuals should accept folded polymer banknotes and centavo coins when used as payment,” the DTI stressed in its notice on Tuesday.

READ: Abaca industry in peril over use of polymer in peso bills

In a post note, the DTI also said that the legal tender limit of centavo coins for single transactions is P200, citing a circular released in 2022.

It likewise encouraged the public to report establishments that do not comply with this latest DTI advisory through consumer hotline 1-384 or email [email protected].

READ: Stapled banknotes still acceptable – BSP

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