SM Clarifies: Folded P1,000 Bills Still Accepted as Payment

SM Supermalls on Monday said folded P1,000 bills will be accepted as payment in its stores in response to a social media post claiming otherwise that went viral.

Netizens were abuzz on Monday after a social media post claiming that a folded P1,000 polymer banknote was not accepted as payment in an SM shopping mall. 

"In response to the information circulating on social media regarding the new P,1000 bill, we would like to assure the public that folded bank notes are still accepted in our SM Retail Stores," the country's largest mall operator said.

READ: New Peso Bills: Your Money Will Wrinkle Wrinkle, Don't Fold

SM Supermalls clarified that only mutilated bills or those stapled and ripped caused by removal of staple wire would not be accepted.

"Only those that are mutilated - stapled and ripped caused by removal of staple wire - will be deemed unfit and not accepted. Our policy has considered the guidelines set by the Bangko Sentral ng Pilipinas," it added.

The Bangko Sentral ng Pilipinas has discouraged Filipinos from folding the new P1,000 polymer bill since this could result in permanent fold marks or damage to the banknote.

READ: New Peso Bills: How to Handle, Clean Polymer Banknotes