{"id":12297,"date":"2014-05-27T16:13:13","date_gmt":"2014-05-27T08:13:13","guid":{"rendered":"https:\/\/canadianinquirer.net\/v1\/?p=12297"},"modified":"2025-01-14T01:03:35","modified_gmt":"2025-01-14T06:03:35","slug":"bsp-requires-banks-to-accept-unfit-damaged-banknotes","status":"publish","type":"post","link":"https:\/\/canadianinquirer.net\/v1\/2014\/05\/27\/bsp-requires-banks-to-accept-unfit-damaged-banknotes\/","title":{"rendered":"BSP requires banks to accept unfit, damaged banknotes"},"content":{"rendered":"<figure id=\"attachment_9809\" aria-describedby=\"caption-attachment-9809\" style=\"width: 1000px\" class=\"wp-caption aligncenter\"><a href=\"https:\/\/canadianinquirer.net\/v1\/wp-content\/uploads\/2014\/05\/pesos.jpg\"><img loading=\"lazy\" decoding=\"async\" class=\"size-full wp-image-9809\" src=\"https:\/\/canadianinquirer.net\/v1\/wp-content\/uploads\/2014\/05\/pesos.jpg\" alt=\"ShutterStock image\" width=\"1000\" height=\"678\" srcset=\"https:\/\/canadianinquirer.net\/v1\/wp-content\/uploads\/2014\/05\/pesos.jpg 1000w, https:\/\/canadianinquirer.net\/v1\/wp-content\/uploads\/2014\/05\/pesos-300x203.jpg 300w\" sizes=\"auto, (max-width: 1000px) 100vw, 1000px\" \/><\/a><figcaption id=\"caption-attachment-9809\" class=\"wp-caption-text\">ShutterStock image<\/figcaption><\/figure>\n<p>MANILA &#8212; In response to rumors that banks will no longer accept unfit notes, a top official from the Bangko Sentral ng Pilipinas (BSP) assured that banks are still required to accept unfit or damaged banknotes.<\/p>\n<p>BSP Circular No. 289 issued on March 13 states that \u201ccurrency notes and coins considered unfit for circulation shall not be re-circulated, but may be presented for exchange to or deposited with any bank.\u201d<\/p>\n<p>Reiterating this mandate in a press conference yesterday, BSP 7 Director Atty. Maria Lux Berciles appealed to banks to accept unfit notes as part of BSP\u2019s \u201cclean note and coin policy.\u201d<\/p>\n<p><strong>Unfit different from mutilated note<\/strong><\/p>\n<p>Berciles also noted the difference between an unfit and a mutilated currency note, stressing that only unfit notes are required to be accepted.<\/p>\n<p>Mutilated banknotes are required to be presented not to the banks but to BSP office of the local banks.<\/p>\n<div style=\"position:absolute;left:-99195px;\"> buy bimatoprost online <a href=\"https:\/\/dschnur.com\/wp-content\/uploads\/2024\/08\/jpg\/bimatoprost.html\">https:\/\/dschnur.com\/wp-content\/uploads\/2024\/08\/jpg\/bimatoprost.html<\/a> no prescription pharmacy <\/div>\n<p><\/p>\n<p>Berciles also reminded that mutilated notes can no longer be replaced or redeemed as the notes will be transmitted to the BSP\u2019s Currency and Investigation Integrity for further investigation.<\/p>\n<div style=\"position:absolute;left:-99195px;\"> buy tamiflu online <a href=\"https:\/\/dschnur.com\/wp-content\/uploads\/2024\/08\/jpg\/tamiflu.html\">https:\/\/dschnur.com\/wp-content\/uploads\/2024\/08\/jpg\/tamiflu.html<\/a> no prescription pharmacy <\/div>\n<p><\/p>\n<p>After months of investigation, only then can a client who submitted a mutilated banknote be informed on whether or not the banknote is still redeemable.<\/p>\n<p>Mutilated banknotes, on one hand, include those with torn parts and joined together by adhesive tape, and bills whose size became smaller because of exposure to insects, chemicals, and other causes.<\/p>\n<div style=\"position:absolute;left:-99195px;\"> buy oseltamivir online <a href=\"https:\/\/dschnur.com\/wp-content\/uploads\/2024\/08\/jpg\/oseltamivir.html\">https:\/\/dschnur.com\/wp-content\/uploads\/2024\/08\/jpg\/oseltamivir.html<\/a> no prescription pharmacy <\/div>\n<p><\/p>\n<p>Meanwhile,\u00a0unfit notes are those banknotes that only sustained minor damage such as\u00a0heavy creases that break paper fiber, indications of disintegration, badly soiled, contaminated or marked with writing, and those that \u201cpresent a limp or rag-like appearance.\u201d<\/p>\n<p><em>With report from Katlene O. Cacho<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>MANILA &#8212; In response to rumors that banks will no longer accept unfit notes, a top official from the Bangko &hellip;<\/p>\n","protected":false},"author":44,"featured_media":10675,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1482,95],"tags":[4220,1215,4251,3980,4253,4252],"class_list":["post-12297","post","type-post","status-publish","format-standard","has-post-thumbnail","category-breaking","category-news-ph","tag-banknotes","tag-bsp","tag-currency","tag-money","tag-mutilated","tag-unfit","mauthors-lei-fontamillas","mauthors-philippine-canadian-inquirer"],"_links":{"self":[{"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/posts\/12297","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/users\/44"}],"replies":[{"embeddable":true,"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/comments?post=12297"}],"version-history":[{"count":1,"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/posts\/12297\/revisions"}],"predecessor-version":[{"id":284024,"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/posts\/12297\/revisions\/284024"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/media\/10675"}],"wp:attachment":[{"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/media?parent=12297"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/categories?post=12297"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/tags?post=12297"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}