Damaged polymer banknotes can be replaced: BSP

PSA: Damaged polymer 1,000-piso banknotes can still be accepted and replaced by the Bangko Sentral ng Pilipinas or other commercial banks.

This is the assurance given by Nenette Malabrigo, Bangko Sentral currency policy and integrity department bank officer V, following reports that some supermarkets do not accept damaged or shrunk bills. 

In the interview, Malabrigo confirmed that polymer banknotes can shrink if ironed or exposed to heat. 

"Kapag pinlantsa, ito 'yung mga na-re-receive na talagang nagshrink siya or lumiit. Talagang nadeform na yung 1000 piso polymer," she said in a TeleRadyo Serbisyo interview. 

"Tatanggapin 'yan ng Bangko Sentral through commercial bank at papalitan po natin na karapat-dapat na amount."

The BSP earlier gave the following tips on the proper handling of polymer banknotes.

TIPS ON PROPER HANDLING: 

• Keep them flat
• Choose wallets where bills can fit properly
• Do not fold excessively.
• Crumpled or creased banknotes could leave permanent fold marks
• Do not hoard bills.
• Use banknotes as payment for goods and services. Do not hoard or buy and sell them at the higher price
• Keep them clean.
• Soiled banknotes may be wiped clean with a damp cloth. The surface may be cleaned with alcohol-based sanitizers 
• Do not deface, write on or mark the banknotes.
• Philippine laws impose penalties on defacing currencies
• Do not tear, cut or poke holes in the bills
• Do not staple or use rubber bands on polymer banknotes
• If there's a need to keep them together, a paper band can be used instead
• Do not damage the clear windows and metallic features of the polymer bills
• Do not expose polymer banknotes to high temperature or near an open flame
• Do not iron them
• Do not expose the banknotes to strong toxic chemicals such as bleach or muriatic acid