BSP extends to Dec. 29 deadline for replacing New Design Series banknotes

October 27, 2017 - 3:27 PM
The New Generation currency series: the deadline for replacing the New Design Series with these bills has been moved to Dec. 29,2017 by the central bank. IMAGE FROM BSP WEBSITE

MANILA – Heeding numerous requests from the general public to allow the exchange and replacement of their New Design Series (NDS) banknotes, the Monetary Board has set a new deadline of December 29, 2017 for this purpose.

As a result, the replacement or exchange transactions on the NDS banknotes shall be accommodated without charge at the Bangko Sentral ng Pilipinas (BSP) Cash Department, at Regional Offices, and Branches, the central bank announced Friday.

The BSP shall allow the exchange of demonetized NDS banknotes in cash to a maximum amount of P100,000 per transaction.

NDS exchange for larger amounts may be allowed, but payable only by check or direct credit to a bank account, the BSP said on its website.