“Ang ating pera ay yaman ng ating bansa,” mentioned on the uploaded video of Bangko Sentral ng Pilipinas (BSP).

[“Our currency is the wealth of our country.”]

Money serves as the primary means to meet daily needs and expenses. Earning it requires hours of work to pay for electricity, water, internet, groceries, and other essentials, plus savings and personal expenses.

Despite careful handling, unexpected incidents can damage cash stored at home. Fire, termites, or rodents can destroy bills kept in drawers or containers. The BSP classifies such damaged cash as Mutilated Banknotes.

Under BSP Circular No. 829, series of 2014, three criteria determine whether damaged currency holds value and qualifies for replacement:

1. Size - At least 60% of the original surface area must remain intact

2. Signature - The signature of either the BSP Governor or the President of the Philippines must be visible

3. Security thread - The embedded security thread must be present (the blue strip located above the two signatures)

The BSP instructs anyone seeking replacement to visit an authorized bank. These banks transport the damaged currency to the BSP for assessment to determine value and eligibility.

Once the BSP confirms eligibility, they deposit the replacement amount to the authorized bank, which then releases it to the client. 

Otherwise, an authorized bank must inform the client regarding the ineligible replacement. 

For more information on replacing damaged currency, WATCH: https://youtu.be/NyUeU0yEblw?si=pcb2fl9sfOCUOqj5