Banks Should Still Accept Doubtful or Damaged Paper Bills and Coins, Bangko Sentral ng Pilipinas Says The Bangko Sentral ng Pilipinas (BSP)Â has reminded various banks in the country to accept damaged paper bills and coins. On Wednesday (August 11, 2021), the agency released an advisory citing BSP Circular No. 829 instructing banks to forward damaged … Read more
New BSP Rules Pushes Banks To Charge Higher ATM Interbank Transaction Fees ATM TRANSACTION FEES HIGHER – Banks are set to charge higher ATM fees for simple transactions following a newly imposed rule. Recently, the Bangko Sentral Ng Pilipinas approved a new system wherein banks set the ATM fees for the terminal used. Previously, the … Read more
The Philippines is Expected to Be a Coinless Society by 2025 Says BSP Bangko Sentral ng Pilipinas (BSP) says that the Philippines will not be using money on hand anymore and expected be a “coinless society” by 2025. Nowadays, cashless transactions are urged to be used amid the COVID-19 pandemic. Although the Philippines is far … Read more
Beware of ‘Brilliant Uncirculated’ 20-Piso Coin Sold Online, BSP Warns BSP – The Bangko Sentral ng Pilipinas (BSP) reminds the public to beware of online sellers advertising ‘brilliant uncirculated’ P20 coins for sale. The BSP has the exclusive power and authority to release notes and coins for circulation in the country. They recently issued enhanced … Read more
BSP Belies Reports of P1,000 Bill w/ Misspelled President Duterte’s Middle Name The Bangko Sentral ng Pilipinas (BSP) belied the reports showing a P1,000 with the misspelled middle name of President Duterte. On Wednesday (September 30, 2020), BSP released an official statement regarding the banknote with an alleged misspelled middle of President Rodrigo Duterte, which … Read more
PHOTO: Bangko Sentral Ng Pilipinas Enhances Philippine Banknotes BANGKO SENTRAL NG PILIPINAS – The Bangko Sentral ng Pilipinas recently showed an enhanced version of Philippine banknotes. According to Rappler, the enhanced banknotes are said to be responsive to the needs of the elderly and the visually impaired. It also features the latest anti-counterfeiting technology. The … Read more
Several government agencies were closed down due to COVID-19 Government agencies in the Philippines ordered lockdown for total disinfection amid the COVID-19 outbreak. As the number of confirmed cases in the country increased, local government units already declared class and work suspensions. Some private sectors also took precautionary measures in order to ensure the safety … Read more
BSP Unveils New Design of P5 & P20 Coins New Generation Currency Coin – The Bangko Sentral ng Pilipinas finally unveils the new design of P5 coin and the coin version of P20. Nowadays, coins are very important when it comes to the circulation of money in the Philippine economy. Most Filipino workers such as jeepney … Read more
BSP Announces ATM Services To Increase by P3 Per Transaction The ATM services are set to increase at least P3.00 per transaction to recover their operating costs, according to BSP. The Bangko Sentral ng Pilipinas (BSP) has already allowed several banks to raise ATM fees but they need to comply with particular conditions. The hike … Read more
Here’s A Possible Factor That Could’ve Brought The Inflation Rate To 3.2% HIGHER PRICES – Malacañang, last Wednesday, that the slight increase in inflation rate was due to higher costs of food, rent and utilities as well as fuel. In a previous post, the inflation rate went up by a small number after six months … Read more