Folded banknotes — whether paper or polymer — can still be used for payments, the Bangko Sentral ng Pilipinas (BSP) clarified, also advising the public to go to banks to check the authenticity of their banknotes. This is after an incident in a popular mall, where Facebook user Reylen Lopez expressed frustration after his folded polymer bill was not accepted as payment, all because it was folded.

"Wag na po kayu mag-ipon ng bagong 1k! Bawal daw i-fold o tupiin as per SM Management," Lopez wrote.

"Ipangbabayad ko sana to, Hindi nila tinanggap. Bawal daw tupiin. Hindi kami na inform," the post said.

SM Supermalls released a press statement, denying the accusation of the Facebook post. According to it, these are all false.

"In response to the information circulating on social media regarding the new P1,000 bill, we would like to assure the public that folded banknotes are still accepted in our SM retail stores. Only those that are mutilated, stapled and ripped due to staple wire removal, will be deemed unfit and not accepted. Our policy has considered the guidelines set by the Bangko Sentral ng Pilipinas (BSP). We encourage the public not to engage with the misleading social media posts.

On Tuesday, June 11, BSP also issued an advisory to the public.

“The Bangko Sentral ng Pilipinas (BSP) informs the public that folded banknotes, whether paper or polymer, can still be circulated and accepted for payment. As such, retailers and banks should accept them for day-to-day payment transactions.” BSP posted on their official website.