MUTILATED or damaged banknotes can still be replaced depending on the extent of the damage, according to the Bangko Sentral ng Pilipinas (BSP).
In a “24 Oras” report, BSP explained that mutilated banknotes are bills damaged by fire, termites, or chewed by animals.
The bills can be replaced if it meets the three requirements: size, signature, and security thread.
* For size, at least 60% of the bill must remain intact.
* At least 65% of the BSP governor’s or the President’s signature must remain.
* The security thread must still be visible on the damaged bill.
The central bank added that mutilated bills can be brought to an authorized bank to be assessed by the BSP. (GMA Integrated News)
