The Central Bank of the Philippines (Bangko Sentral ng Pilipinas) reminded the public that exchanging unfit banknotes through banks is free of charge and urged people to use BSP-authorized banks to avoid “service fees” charged by individuals or other parties. The BSP also noted it is continuing to produce fresh banknotes and coins to support bank availability ahead of an expected Yuletide surge in currency demand, and encouraged the use of digital or e-money via e-wallets and online banking as a safer and more convenient way to send cash gifts during the Christmas season.
Central Bank of the Philippines 2025-12-22
Central Bank of the Philippines reiterates free exchange of unfit banknotes at banks and promotes digital cash gifts
The Central Bank of the Philippines reminded the public that exchanging unfit banknotes through banks is free and advised against using unauthorized parties that charge fees. It is also producing new banknotes and coins to meet increased demand during the Yuletide season and encouraged the use of digital payments for safer transactions.