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.
“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.
“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.
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