READING

Banko Sentral Ng Pilipinas to Demonetize the New D...

Banko Sentral Ng Pilipinas to Demonetize the New Design Series Philippine Peso Banknotes

Yes!

The money you are probably holding right now will lose its value!

That is true if you are holding the New Design Series (NDS).

That’s what I learned when Banko Sentral ng Pilipinas and Philippine Information Agency organized a Bloggers’ Forum about the Demonetization Program.

The members of Cebu Blogging Community with Atty. Leonides B. Sumbi and Miss Hazel Arante of Banko Sentral Ng Pilipinas Cebu Regional Office and PIA Cebu Infocen Manager Miss Rachelle M. Nessia.

The members of Cebu Blogging Community with Atty. Leonides B. Sumbi and Miss Hazel Arante of Banko Sentral Ng Pilipinas Cebu Regional Office and PIA Cebu Infocen Manager Miss Rachelle M. Nessia (seated at the rightmost portion).

The Banko Sentral ng Pilipinas has decided on December 16, 2010 that it’s high time for our banknotes to receive a face lift and add more features that will make our paper bills more difficult to counterfeit.

So which of the paper bills in your wallet will lose its value next year?

Let’s find out!

The New Design Series Philippine Peso Banknotes

These were issued on June 12, 1985 and has been in circulation for more than 25 years all ready.

Banko Sentral will be demonetizing these bills starting on January 1, 2016 so if you currently have these on your wallet, you have to keep these in mind:

  • Don’t panic because it can still be used to purchase products and services this year (2015).
  • You can go to any bank and have it replaced with the New Generation Currency Banknotes.
  • You have the entire year of 2016 to have all your New Design Series bills exchanged for New Generation Currency Banknotes.
  • By 2017, all New Design Series bills will no longer accepted to purchase products and services or even exchanged in the bank for New Generation Currency bills.
Miss Hazel Arante of Banko Sentral Ng Pilipinas Cebu Regional Office

Miss Hazel Arante also taught us how to determine fake money. You will be amazed on the numerous safety features you can find on every paper bill. I will be writing blogs about it very soon!

Atty. Leonides B. Sumbi of Banko Sentral Ng Pilipinas Cebu Regional Office

Atty. Leonides B. Sumbi emphasized to us the importance of demonetizing the New Design Series. Warding off counterfeits is just one of the many reasons.

Hey!

If you think you’ve got a suspicious banknote in your hands (I’m talking about fake money), don’t fret.

Just bring it to any bank and they will send it to Banko Sentral ng Pilipinas in order to be verified.

The bank will then give you an acknowledgment receipt.

If you’ve got question or clarifications, you can always contact or visit the nearest Banko Sentral ng Pilipinas office.

  • BSP Head Office, Manila: (632) 708-7701
  • BSP Security Plant Complex, Quezon City: (632) 929-7071 to 90
  • BSP Cash Department: (632) 352-1485 or 929-7071 local 618 or 619
  • Cebu Regional Office: (032) 254-0973
  • Website: www.bsp.gov.ph

I don’t know about you but I will surely miss the New Design Series but I also love the overall look and feel of the New Generation Series.

What can you say about the demonetization program?


RELATED POST

  1. I never really understood how bank and money bills work other than using money to pay for stuff, hahaha. Thanks for this. Looking forward to the safety tips on fake bills you’ll blog about.

  2. Mark Villar

    29 August

    The new design our money is so much better than the old one. At least we can avoid fake money bills through this new money designs.

  3. Franc Ramon

    30 August

    This is a timely reminder since we still have enough time to exchange bills to the current designs.

  4. Definitely a very interesting insight to how the things are done within the bank. Cheers for the great share!

    • Channel Marie Imperial

      Indeed Shivani! It’s great to know why banks decide on creating a new design for paper bills and the process entailed to implement it. ^_^

  5. Peachy A.

    8 September

    I love the new designs on our bills versus the olds ones

  6. Yeah, this is a good move to address fake money. Am sure some people will keep the NDS bills as souvenirs, hehehe

  7. Justin Buenagua

    13 September

    I really like the new designs. Though I wish they stop calling the “new design series” as “new” because it causes confusion. I actually thought it was the new released ones.

  8. thadzonline

    27 September

    Wider dissemination of this is really important so people become aware

  9. Rea

    27 September

    The old ones are gonna be collector’s item na, hehehe. I once received a fake 200-peso bill, the most common fake money I guess.

  10. Hanna Frej

    27 September

    Thanks for this post Chanel 🙂 I almost forgot about this. Hehe

  11. Anne

    28 September

    I have to say that I like the New Generation Series but I wonder if it still has those ‘trivia’ thingies that the New Design Series had. For example, do you know how many soldiers where in the 50 peso bill and what were the minute words hidden in the back of the 100 peso bill? My dad was with BSP before so I got some trivia up my sleeves. Hehe. 🙂

  12. Cheryl F.

    28 September

    My mom sometimes is having hard time differentiating the designs because when the new one looks grungy, it already looks like the old one. The color too is a bit confusing.

  13. akirahbabe

    28 September

    I love the new design of the money 🙂 it’s more colorful that made me want to keep it rather than spending it. haha 🙂 Thanks for the info Shanky 🙂 I’m also interested to know which one is fake 🙂

    xx
    rica | http://www.switbbydoll.com

  14. Jazmine

    28 September

    I completely understand why the Banko Central wants to give our money another facelift. The counterfeiters are doing every trick in the black book just to scam people and it only gets worst. But the question now would be, with the new design how sure are we that these bad guys won’t outsmart them again?

  15. I love the new designs of the bills. If there’s one shortcoming, though, it would be the difference between 20 & 50, and 200 and 1000. Something to do with the color.

  16. caloyolano

    28 September

    I miss those old bills. If I see one, I want to keep it. I really miss the old Aguinaldo 5 and the Mabini Ten.

  17. I too love the New Design Series as especially the P500 bill. Anyways, change is the only constant thing to this world so just bear with it. haha! 🙂

  18. Emjae Fotos

    29 September

    Great to know this. The new designs are great and I really do hope that the security features would last for a long time. I mean with technology, fake bills are also catching up. 🙂
    MJ | http://www.emjaefotos.com

  19. Alyssa Panghulan

    29 September

    I thought it was always just the broken vertical line at the right side of the bill. Naa pa diay daghan ilhanan? Awesome! xD

  20. Katherine Anne

    29 September

    I have no idea what’s happening within our banks and also, this is a big help in figuring out authentic bills from fake ones! Thanks for the insights te Chan! And oh, I love the new designs as well because they bigger number labels now. 😀

  21. Mimi Gonzales

    30 September

    Hihi I’d always loved the design on those bills. The public should be thoroughly informed about this! Hapit na ma demonetize ang old ones!

    • Channel Marie Imperial

      Me to Mimi! I’m going to feel nostalgia for the paper bills we used to know. Yes, hapit najud sila ma-demonetize! Hehehe! Please share this blog para ma-inform ang uban. Thank you! ^_^

Your email address will not be published. Required fields are marked *

INSTAGRAM
COME WITH ME!