New deadline for NDS banknotes replacement

WITH more requests to allow the exchange and replacement of their New Design Series (NDS) banknotes, the Monetary Board established a new deadline of Dec. 29 for this purpose.

The replacement or exchange transactions on the NDS banknotes will be accommodated without charge at the Bangko Sentral ng Pilipinas (BSP) Cash Department, regional offices, and branches, the BSP said in a statement yesterday.

The BSP will allow the exchange of retired NDS banknotes in cash to a maximum amount of P100,000 per transaction.

NDS exchange for larger amounts will be allowed but payable only by check or direct credit to a bank account.

The BSP has made extensions several times, originally setting the deadline on Dec. 31, 2016.

They later moved it to March 31 and then June 30. (PR)
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