SM Supermalls still acccepts folded banknotes, including the new PHP 1K bill

SM Supermalls just issued a statement regarding reports stating that the company is rejecting folded PHP 1,000 polymer bills.

Official statement of SM

SM is encouraging the public not to engage in misleading social media posts

According to the company, folded banknotes, including the new Ps1000 bill are still being accepted in SM Retail Stores. Only those that are mutilated, stapled, and ripped caused by the removal of staple wire will not be accepted.

In response to the information circulating on social media regarding the new Ps1000 bill, we would like to assure the public that folded bank notes are still accepted in our SM Retail Stores. Only those that are mutilated - stapled and ripped caused by removal of staple wire - will be deemed unfit and not accepted. Our policy has considered the guidelines set by the Bangko Sentral ng Pilipinas.

We encourage the public not to engage with the misleading social media posts.

SM also claimed that its policy considered the guidelines set by the Bangko Sentral ng Pilipinas.

The group also told the public not to engage in misleading social media posts.

To recap, the new PHP 1,000 polymer bill with an eagle design is reportedly fragile.

BSP claims that they are strong, but not indestructible. As a result, BSP is encouraging the public not to excessively fol, crease, or crumple the banknotes.

BSP to retailers and banks: Accept folded polymer banknotes

Sources: SM, BSP