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Surrender shredded banknotes – BSP

The Bangko Sentral ng Pilipinas (BSP) has urged the public to submit to the central bank shredded banknotes that they may have gotten hold of by chance.

It made the call following an incident in Roxas City, Capiz last week where the service provider tapped to dispose of shredded banknotes forgot to collect some items they unloaded from a truck after the vehicle they were using needed repairs before reaching the dumpsite.

Although the shredded notes that were left behind have been collected and delivered to the designated dumpsite and the service provider has taken full responsibility for the incident, the regulator advised the public “to surrender to the BSP all shredded banknotes that may have come into their possession.”

It explained that the shredding of unfit and mutilated banknotes is part of the BSP’s “Clean Note Policy”.

The BSP carries this out by replacing the unfit notes deposited by banks in BSP with clean and crisp notes. The central bank fosters the circulation of clean notes for health and sanitary reasons, it said.

The BSP explained that “once replaced, unfit banknotes are properly disposed of to ensure that they are not recirculated.”

“This involves shredding of banknotes and having them transported by an accredited service provider to the designated dumpsite for proper disposal,” it added.*PNA

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