The P1,000 polymer banknotes will become more available in the market as three of every four ATMs (automated teller machines) across the Philippines are now configured to dispense these, according to the Bangko Sentral ng Pilipinas (BSP).
With this, the BSP reminded the public—consumers, retailers and banks alike— that peso banknotes that have been folded, be they made from polymer or paper, are acceptable and should be accepted for transactions.
The financial industry regulator said that as of Dec. 31, 2022, banks have recalibrated 17,304 ATMs to dispense the polymer banknotes.
This number represents 92 percent of about 18,800 ATMs that are intended to be configured to accommodate the new bills that are undergoing trial circulation.
Also, the number of ATMs that are so far equipped to handle polymer banknotes represents 75 percent of the 23,077 ATMs that the BSP counted as of Dec. 27, 2022.