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September 24, 2023

SM clarifies stores still accept folded P1,000 polymer banknotes

SM Supermalls said SM retail stores are still accepting folded P1,000 polymer banknotes.

“In response to the information circulating on social media regarding the new P1,000 bill, we would like to assure the public that folded bank notes are still accepted in our SM Retail Stores,” SM said in an official statement.

SM Supermalls encouraged the public not to engage with misleading social media posts.

“Only those that are mutilated – stapled and ripped caused by removal of stable wire – will be deemed unfit and not accepted. Our policy has considered the guidelines set by the Bangko Sentral ng Pilipinas,” it added.

A certain Reylen Lopez posted on social media that she was dismayed after SM refused to accept her slightly folded P1,000 polymer banknotes.


Three rural banks merge to enhance financial stability

Three rural banks have successfully merged in a move aimed at bolstering their financial stability, as confirmed by the Bangko Sentral ng Pilipinas (BSP). The merger officially took effect on July 13, following the necessary regulatory approvals, as detailed in a circular letter signed by Bankero and BSP Deputy Governor Chuchi G. Fonacier on September 15.

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