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Author Topic: PhP Old Banknotes Validity  (Read 735 times)

islander

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PhP Old Banknotes Validity
« on: February 20, 2016, 02:01:48 AM »

in case we forget...

According to BSP Deputy Director for Currency Issue and Integrity Office Maja Gratia Malic, from Jan. 1 to Dec. 31, 2015, the old banknote series can still be used for daily transactions.

Republic Act 8485 (Animal Welfare Act of 1998, Philippines), as amended and strengthened by House  Bill 6893 of 2013--- violation means a maximum of P250,000 fine with a corresponding three-year jail term and a minimum of P30,000 fine and six months imprisonment


islander

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Re: PhP Old Banknotes Validity
« Reply #1 on: February 20, 2016, 02:09:39 AM »
Then from Jan. 1 to Dec. 31, 2016, the old banknote series can no longer be used for daily transactions and can only be exchanged in authorized agent banks and the BSP Cash Department or any of its Regional Offices or Branches.

Republic Act 8485 (Animal Welfare Act of 1998, Philippines), as amended and strengthened by House  Bill 6893 of 2013--- violation means a maximum of P250,000 fine with a corresponding three-year jail term and a minimum of P30,000 fine and six months imprisonment

islander

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Re: PhP Old Banknotes Validity
« Reply #2 on: February 20, 2016, 02:10:22 AM »

Finally, starting January 1, 2017, demonetized banknotes will no longer have monetary value. Only the new bank notes series will remain as legal tender in the country.

Republic Act 8485 (Animal Welfare Act of 1998, Philippines), as amended and strengthened by House  Bill 6893 of 2013--- violation means a maximum of P250,000 fine with a corresponding three-year jail term and a minimum of P30,000 fine and six months imprisonment

balong

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Re: PhP Old Banknotes Validity
« Reply #3 on: February 20, 2016, 05:09:51 AM »
thanks islander. dia pa koy peso salin sa bakasyon. nakalimot ko ug hatag sa ahong maguwang pag larga naho ug balik dere sa states

islander

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Re: PhP Old Banknotes Validity
« Reply #4 on: February 20, 2016, 05:29:22 PM »

for collectors, it's time to hold on to the small denominations of the old banknotes.  except for the 500 and 1k bills (too big to keep as souvenirs), my collection is safe now.  too bad my one and only old 5-peso bill has a small tear. 
Republic Act 8485 (Animal Welfare Act of 1998, Philippines), as amended and strengthened by House  Bill 6893 of 2013--- violation means a maximum of P250,000 fine with a corresponding three-year jail term and a minimum of P30,000 fine and six months imprisonment

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