Living In The Philippines Forum

Itís Your Money => Money Exchanging => Topic started by: Lee2 on March 23, 2017, 06:36:58 PM

Title: Deadline to exchange old peso bills moved to June
Post by: Lee2 on March 23, 2017, 06:36:58 PM
Good news for those of you who still have old peso notes.
Quote
[url]http://news.abs-cbn.com/business/03/23/17/deadline-to-exchange-old-peso-bills-moved-to-june[/url]
The deadline to exchange old bank notes has been extended to June 30, from the end of March, before they are demonetized and lose their value as legal tender, the Bangko Sentral ng Pilipinas said Thursday.
The central bank also extended the demonetization deadline for the old banknote series to July 1 from April 17.
In terms of individual bills, the old notes comprise 8.6 percent of all money in circulation. In terms of value, it accounts for just 2 percent.
The March 31 deadline for overseas Filipinos to register their old bank notes for exchange was unchanged, the bank said.
Title: Re: Deadline to exchange old peso bills moved to June
Post by: JD on March 24, 2017, 12:17:49 AM
I have no peso notes. I'm married!  :)
Title: Re: Deadline to exchange old peso bills moved to June
Post by: Lee2 on January 01, 2018, 07:32:06 PM
If you have any old pesos they are now worthless. Amazingly recently 500 people still had old bills and thus rushed to beat deadline to change old bills (http://cebudailynews.inquirer.net/158873/500-people-rush-beat-deadline-change-old-bills) so if you have some, they are now good for decoration only.
Title: Re: Deadline to exchange old peso bills moved to June
Post by: BudM on January 02, 2018, 02:02:11 AM
Well, if anyone still has any I would say, "Oh well, too bad".  It is not like they had to rush.  There were only how many deadlines to get them exchanged?  I don't even remember now.  Every time I saw a sign about it, the absolute deadline was pushed back.  So, no one really has an excuse if they have a complaint.  Including people that were out of the country for more than a year or two or more.  If any of them still have old pesos, what would they being doing not keeping up with the news here and not do something about it?
Title: Re: Deadline to exchange old peso bills moved to June
Post by: Gray Wolf on January 02, 2018, 10:34:36 PM
So, the P5000 we saved from our trip the end of 2016 are no longer valid currency? What did I miss?  ??????
Title: Re: Deadline to exchange old peso bills moved to June
Post by: BudM on January 02, 2018, 11:02:22 PM
So, the P5000 we saved from our trip the end of 2016 are no longer valid currency? What did I miss?  ??????


You got all or some old bills or all or some new ones?  If you have all the old, well, I guess you have about a hundred bucks worth of souvenirs.  Like the article on the link, dated May 2015, I remember back then and if I am not mistaken before, that the old notes were going to be no good.  They kept moving the deadline back to where you could exchange them at the bank.  And then for a year, you could take them to BSP for exchange.  I don't know if you can still do that.  I don't keep up with it now.  But, I kept seeing the signs extending the deadline.  Plus, they had the registration business for old bills out of the country or something like that.  If you had just recently the end of 2016 received the bills you have, chances are they more than likely are new ones.  Unless of course someone unloaded some on you to get rid of them.  I saw very few of the old by that time.  In fact, I haven't seen very many of the old since I have been here (2013).  Anyway, if you have any of them, and can no longer get rid of them at the BSP, sooner or later some collector will probably want to snatch them up.  You might be able to make a tidy sum on them down the road.

http://www.bsp.gov.ph/publications/media.asp?id=3735 (http://www.bsp.gov.ph/publications/media.asp?id=3735)

Title: Re: Deadline to exchange old peso bills moved to June
Post by: Gray Wolf on January 02, 2018, 11:06:57 PM
I get it now. Finally saw the part about it being bills issued prior to 2010. Mine are crisp, recently issued bills, no more than 2 years old, so they should still be good. Scared me for a minute, though. That will be our pocket money when we first land on our next trip. Whew!  :)
Title: Re: Deadline to exchange old peso bills moved to June
Post by: BudM on January 02, 2018, 11:21:38 PM
I get it now. Finally saw the part about it being bills issued prior to 2010. Mine are crisp, recently issued bills, no more than 2 years old, so they should still be good. Scared me for a minute, though. That will be our pocket money when we first land on our next trip. Whew!  :)

Well, glad to hear that you did not lose out.
Title: Re: Deadline to exchange old peso bills moved to June
Post by: Lee2 on January 02, 2018, 11:30:00 PM
Old money
Title: Re: Deadline to exchange old peso bills moved to June
Post by: Gray Wolf on January 02, 2018, 11:36:42 PM
Anyone have clear images of the "new money"? I just dug into the safe and pulled out our pisos. They have the same people on the front as Lee's pic of "old" money, yet the issue dates are no older than 2014. Other than the one 50 piso note, they all have the anti-forgery foil strips on the front side. Was there an issue date cutoff? I'm getting more confused the deeper I dig into this.
Title: Re: Deadline to exchange old peso bills moved to June
Post by: Lee2 on January 03, 2018, 12:13:19 AM
The new money from p200 up have bold dashes on them. The only other thing to know is that the p100 come in two colors, both are good, see both images below.
Title: Re: Deadline to exchange old peso bills moved to June
Post by: Gray Wolf on January 03, 2018, 12:50:37 AM
Excellent! Looks like ours is still good as they have the bold anti-counterfeit strips and are new issue. Thanks!
Title: Re: Deadline to exchange old peso bills moved to June
Post by: BudM on January 03, 2018, 08:43:10 AM
1000