Home HOW TO: Care for 1,000-peso Polymer Banknote as advised by BSP

HOW TO: Care for 1,000-peso Polymer Banknote as advised by BSP

July 11, 2022

WhatALife Contributor

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The circulation of the 1,000-peso polymer banknote has begun. While the new banknote comes with new features such as waterproofing and lasting 2 to 5 times longer than paper banknotes, it comes with a few reminders regarding handling. Otherwise, the banknote will not be honored by establishments.

In this blog, we’ll list down the reminders given by the Banko Sentral ng Pilipinas (BSP) when it comes to handling the new 1,000-peso polymer banknote.

DON’Ts in handling the 1,000-peso polymer banknote:

DO NOT excessively fold, crease or crumple polymer banknotes. These could leave permanent fold marks.
DO NOT deface, write on, or mark the banknotes.
DO NOT tear, cut, or poke holes in polymer banknotes.
DO NOT stable polymer banknotes or use rubber bands to keep them together. You may use paper bands instead.
DO NOT damage the clear windows, metallic features, and other security features of the banknotes.
DO NOT iron them.
DO NOT expose polymer banknotes to high temperatures or place them near an open flame.
DO NOT expose the banknote to toxic chemicals.

DOs in handling the 1,000-peso polymer banknote:

DO keep them flat. Place your polymer banknotes in wallets where they fit properly. If banknotes become crumpled or creased, apply pressure, or flatten them with your hands.
DO keep them clean. Soiled or dirty polymer banknotes may be wiped clean with a damp cloth. Their surface may also be cleaned with alcohol-based sanitizers—just wipe them dry right away using a towel or piece of cloth.
DO use your polymer banknotes as payment for goods and services. Do not hoard them, nor buy or sell them at a higher price.

Not many know the proper handling guidelines for 1000-peso polymer banknotes. A good example is netizen Reylen Lopez who posted how a mall establishment did not accept the banknote because it was folded.

However, the concern of the netizen was clarified by the mall establishment after releasing a statement that they do accept folded polymer banknotes. Only those that are mutilated – stapled and ripped caused by removal of staple wire – will not be accepted.

Wallets for the new 1,000-peso polymer banknote in 2022

BSP has advised the public to own longer wallets that can accommodate the banknote without folding.

The Philippine banknote size has remained 16 x 6.6 cm. Therefore, you may look for wallets with said size to keep the 1000-peso polymer banknote from folding or creases.

If you’re currently looking for wallets that will fit the polymer banknote, we’ve listed a few options below: