Folded banknotes, whether paper or polymer, can still be circulated and accepted for payment. This was clarified by the Bangko Sentral ng Pilipinas (BSP) and advised retailers and banks to accept them for day-to-day payment transactions. The BSP stated in an advisory that it issued guidelines on the proper handling of polymer banknotes and this includes storing banknotes in wallets where they fit properly (the typical bi-fold wallet fits this criteria), keeping them clean, and using them as payment for goods and services.

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The BSP stressed that the said guidelines apply to both paper and polymer banknote. The handling guidelines were issued to raise public awareness on the proper use of polymer and paper banknotes to safeguard their integrity and prolong their lifespan.

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If an individual is doubtful on the value and/or authenticity of a banknote, he or she is encouraged to go to any bank for assistance. The bank will then refer the banknote to the BSP for examination.

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Meanwhile, SM Supermalls issued an official statement relative to the viral post in social media.

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Read related post below.

with images by BSP, SM Supermalls

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