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Maab MDC Annexa

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25 views10 pages

Maab MDC Annexa

Uploaded by

Ivan Yator
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
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HOW TO SUBMIT MUTILATED/DOUBTFUL

BANKNOTES AND COINS


A Guide in the Submission of Currencies for Examination by the Bangko Sentral ng Pilipinas
1 Classify the claim .
1
Claims for examination are classified into two cases: SIMPLE and HIGHLY TECHNICAL.

1. SIMPLE CASE
1 2 Claims that can be readily resolved
by a trained cash handler.

2. HIGHLY TECHNICAL CASE


Claims that need an expert opinion
and are subject to further
examination.

1 A claim refers to doubtful/mutilated currencies submitted to the Bangko Sentral for examination as to genuineness and/or redemption value covered by
an Application for Examination of Mutilated/Doubtful Currencies (AEC) or any basic document.
SIMPLE CASE
(a) For redemption:
• Notes that meet all of the following
criteria:
✓With at least 60% remaining
Surface area;
✓With a portion of the Signature of
either the President of the
Philippines or the BSP Governor;
✓With intact Security thread; and
✓Identifiable and can be easily
Segregated/counted.
• Coins that are:
✓Identifiable and can be easily
counted
SIMPLE CASE

(b) No value:
• Notes that show any of the following:
- Less than 60% Surface area;
- No Signature;
- Sign of willful/intentional removal
of the Security thread.
• Coins that show signs of any of the
following: filing, clipping, or
perforation.

Note: Shall be withdrawn from circulation and demonetized


without compensation to the owner/bearer
SIMPLE CASE

(c) Demonetized:
• Peso notes other than the New
Generation Currency (NGC) Series;
and
• Peso coins other than the NGC or
BSP Series.

Note: Shall be withdrawn from circulation and demonetized


without compensation to the owner/bearer
SIMPLE CASE

(d) Specimen:
• Genuine Peso banknotes marked with
“SPECIMEN” with serial numbers
bearing six or seven digits that are all
“0”.

The marking “SPECIMEN” was erased, and the serial number was altered.
Note: Shall be withdrawn from circulation and demonetized
without compensation to the owner/bearer
HIGHLY TECHNICAL
CASE Altered value panel Altered security thread Counterfeit Peso notes

Counterfeit Peso coins

(a) Doubtful:
• Questionable Peso notes and coins;
• Defective Peso notes;
• Foreign banknotes.

Defective OVD patch Missing OVD patch Printing defect

Foreign banknotes
HIGHLY TECHNICAL
CASE

(b) Severely mutilated Peso


notes and coins:
• Genuineness, denomination and/or
number of pieces cannot be readily
and clearly identified
Segregate currencies according to the type of claim
2
and bring to the nearest BSP office or branch.

For highly technical cases, these


shall be forwarded for further
examination to the Currency
Issue and Integrity Office (CIIO),
BSP Quezon City.
3 Fill out an application and submit your form2

claim to the Receiving Teller.

For simple cases, the standard


processing time is three working days
from the date of receipt by the BSP.

For highly technical cases, the standard


processing time is 20 working days3
from the date of receipt by the BSP.

2 Application for Examination of Mutilated/Doubtful Currencies (AEC)


3 For severely mutilated claims, and forwarded claims from the BSP Regional Offices and Branches, an additional 20 working days is automatically added to

the total processing time (as allowed under Republic Act No. 11032).

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