As part of its banknotes campaign, the Bangko Sentral ng Pilipinas (BSP) has launched a dedicated webpage or microsite for the new P1,000 polymer banknote to increase public awareness and encourage its use.
As part of its banknotes campaign, the Bangko Sentral ng Pilipinas has launched a dedicated webpage or microsite for the new P1,000 polymer banknote to increase public awareness and encourage its use.
The dedicated website showcases the polymer banknote’s design, benefits, and security features, said the BSP. It also includes guidelines on how to properly handle the polymer money, as well as its circulation timeline. At the moment, polymer banknotes are available via over-the-counter-services. ATMs are unable to dispense these plastic-based money since at present set up, the polymer bills tend to stick to each other and the ATMs need to be recalibrated.
Other banks, such as BDO Unibank Inc., Bank of the Philippine Islands, Security Bank Corp. and Metropolitan Bank and Trust Co. have all said that they are prepared to comply with the BSP mandate and timeline in making polymer banknotes available via ATMs.
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