ICYMI: The new P1,000 bill remains legal tender and should be honored even if folded, contrary to complaints by netizens on social media about their folded polymer banknotes being rejected by malls and other establishments.
The central bank issued last month guidelines on the proper handling of polymer banknotes, discussing “Dos and Don’ts” in handling the new banknotes.The BSP also advised users not to deface or write on the polymer banknotes; “not excessively” fold, crease or crumple them as “these could leave permanent fold marks”; not tear, cut or poke holes in them, and not to staple them or use rubber bands to hold them together.
The central bank said these guidelines on handling applied not only to the new polymer banknotes but also to the older paper-based series of peso bills.Part of the confusion was traced to a Facebook post on a page named “PCADG Central Luzon” that mentioned the BSP’s guidelines in handling the banknotes in Filipino, but used the word “bawal” or prohibited.PCADG Central Luzon appears to belong to an office of the Philippine National Police.
At the end of the list, the post warned that those who violated such prohibitions were liable to a fine of P20,000 at most and a jail term of not less than five years. This caused a stir among netizens, who lamented that using the new polymer banknotes was such a hassle and could even send someone to jail.However, this martial law era legislation provided that the fine and jail term were for those who “willfully deface, mutilate, tear, burn or destroy, in any manner whatsoever, currency notes and coins issued by the Central Bank of the Philippines.”
On Monday, Albay Rep. Joey Salceda sought further clarification from the BSP for business establishments to honor the new polymer bills even if these were folded, altered, or damaged.
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