MANILA - At least 92 percent of all automated teller machines (ATMs) in the country have been recalibrated to dispense P1,000 polymer banknotes, the Bangko Sentral ng Pilipinas said.
Out of the 17,304 polymer-ready ATMs, 7,274 are located in the National Capital Region, the central bank said in a statement.
Banks were mandated to recalibrate their ATMs in order to allow the disbursement of the new bill.
To date, 39 million pieces or 7.8 percent of the total P1,000 polymer banknote to be circulated have been released to the public since November 2022.
“While the BSP continues the phased issuance of 1000-Piso polymer banknotes, the central bank reminds the public, retailers, and banks to accept folded banknotes, whether paper or polymer, as they are legal tender and can be used for daily payment transactions,” the central bank said.
When in doubt, the BSP said banks could assist the public in the authentication.
The BSP said polymer banknotes are more hygienic and could last longer than paper bills.