REMINDER: Exchange your old bank notes by Dec. 31, 2016

It’s the last month of 2016. More than just ending the year, it also marks the demonetization of the old banknote series of Philippine bills, also known as the New Design Series or NDS. You have only until December 31, 2016 to exchange them before they are demonetized by January 1, 2017.

OLD VS NEW. You’ve seen this several times online, but we’ll include it just in case. Image grabbed from BSP’s NDS Primer leaflet

First launched in 1985, the NDS series was used until 2010, when the Banko Sentral ng Pilipinas (BSP) released the New Generation Currency or NGC, complete with a new design, logo, and heightened security features.

Also read: Check your PH bills: Old banknotes valid until Dec 31 2015 only

As of today, these notes may no longer be used for daily transactions, but can still be exchanged at authorized agent banks, the BSP-Cash Department, and all BSP regional offices and branches across the country no later than December 31, 2016. NDS notes will be demonetized by January 1, 2017.

OFWs with NDS notes may register up to P50,000 of their old banknotes at https://orbs.bsp.gov.ph/ until December 31, and can be exchanged within a year from the date of registration. Those situated in war-torn countries have until December 31, 2017 to exchange their old banknotes without the need to register.

For more information on BSP’s Demonetization schedule, click here or visit www.bsp.gov.ph/bspnotes/dem-faq.asp.

 

Source: BSP.gov.ph