It won’t make it invalid. It’s not that fragile, nor can we carry large wallets.
After an outrage by social media users online complaining that some establishments, particularly, SM Supermalls, have refused to accept folded new-generation 1000-peso notes as legal tender, BSP clarifies that you can indeed use the new Php1000 bills for transactions even when folded. They also clarified that these new notes can safely be stored in bi-fold wallets.
“BSP informs the public that folded banknotes, whether paper or polymer, can still be circulated and accepted for payment,” they said in a statement.
SM Supermalls has also responded to the viral Facebook post stating that a particular SM branch refused to accept the new Php1000 bill as payment. In addition, the company encouraged everyone to be vigilant on social media posts as they can be misleading.
According to users who have the note in possession, the new Php1000 bill is fragile and easy to break.
There are currently more than 10 million pieces of the new note in circulation. The BSP said the new notes are more durable, cost-effective, harder to counterfeit, and more hygienic than the previous version.