BSP reminds Filipinos abroad to register old peso


THE Bangko Sentral ng Pilipinas reminded for the last time the overseas Filipinos, Filipino immigrants and non-residents that they have until March 31 to register online their old note series.

In a statement, the central bank said they could register up to P50,000 of these old notes or the New Design Series (NDS) in the Online Registration for NDS Banknote System (https://orbs.bsp.gov.ph).

"NDS banknotes registered from 1 January 2017 to 31 March 2017 shall be accepted for exchange with NGC (New Generation Currency) banknotes until 31 December 2017 at any BSP office," it said.

For overseas Filipinos, original passport and printed confirmation notice need to be presented to facilitate the NDS exchange, at face value, free of charge.

Additional documentary requirements are needed for Filipino immigrants and non-residents for the exchange of their NDS banknote holdings.

Aside from the original passport and printed confirmation notice, Filipino immigrants must present their birth certificate to support Filipino lineage, while non-residents must show proof of previous employment in the Philippines, the central bank said.

NDS banknotes which have not been exchanged shall cease to be liability of the BSP and shall be demonetized, it added. (SDR/SunStar Philippines)
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