Public service: Banks may still exchange old bills until this December
It’s an extra service which banks may choose to offer ahead of the deadline.
The Bangko Sentral ng Pilipinas (BSP) has allowed its authorized agent banks to still accept bills of the old design ahead of the Dec. 29, 2017 deadline to demonetize and exchange these old money. However, this is purely optional for all lenders, and no special extensions will be given as far as the regulator is concerned.
“Should a bank undertake NDS (New Design Series) exchange with its clients, such bank shall likewise surrender all NDS banknotes to the BSP on or before 29 December 2017,” the BSP said in a memorandum issued by Governor Nestor Espenilla, Jr.
The central bank announced a fresh three-month extension to exchange old bills, which may only be done before any BSP office or branch.
Buzzer beaters have a few weeks left to do so.