Home Credit Philippines supports BSP’s new Polymer Banknote series

The Bangko Sentral ng Pilipinas (BSP) has officially launched the first Philippine Polymer Banknote Series, a major step towards a smarter, cleaner, and longer-lasting currency. As part of this initiative, BSP has issued Circular Letter No. CL-2025-005, encouraging all BSP-supervised financial institutions, including Home Credit Philippines, to help spread awareness on the use of these new banknotes.

The introduction of polymer banknotes in the Philippines brings several improvements over the previous paper banknotes. Countries such as Canada, Australia, New Zealand, Malaysia, Mexico, Fiji, and Vietnam have already made the shift, reporting a decline in counterfeiting cases and improved durability of their currency.

1. Smarter and More Secure

The new polymer banknotes feature advanced security features that make it harder to counterfeit. Thanks to polymer substrates which use a unique and advanced technology, the new banknote series is difficult to replicate and helps ensure the integrity of the country’s payment ecosystem. Additional security features include serial numbers, tactile dots, and metallic logos of BSP and the seal of the Republic of the Philippines. 

2. Cleaner and Safer to Use

In comparison to the previous paper banknotes, the polymer banknotes are designed to be resistant to water, oil, and dirt, making them easier to clean. Additionally, viruses, including COVID-19, and bacteria survive for a shorter period on polymer banknotes, contributing to better public health as revealed by a review conducted by the Department of Health. 

3. More Durable and Cost-Effective

Polymer banknotes last up to 7.5 years—2 to 5 times longer than their paper counterparts—reducing costs and promoting a sustainable approach to currency management. Their resistance to dirt, water, and oil also makes them ideal for daily use, especially in wet markets and public transport. In addition, BSP heat studies confirm that the Philippines’ tropical climate doesn’t affect the overall durability of the new banknotes.

1. With the release of the new polymer banknote series, will the old paper banknotes be demonetized? 

No. The new polymer banknotes shall be circulated alongside the existing paper banknotes. Paper banknotes shall remain legal tender.

2. Why are polymer banknotes considered more sustainable?

According to a recent study* analyzing the carbon footprint or life cycle of 1000-piso polymer and paper banknotes showed that the polymer banknote exhibits a lower carbon footprint than the paper banknote by 38.4 percent.
*A 2023 independent study on the Global Warming Potential of Philippine banknotes by the De La Salle University–Center for Engineering and Sustainable Development Research

3. Why is there no 200-piso polymer banknote?

The Monetary Board approved in 2021 the end of production for 200-piso New Generation Currency banknotes due to low usage since its launch in 2010. The 200-piso NGC banknote shall remain legal tender until it becomes unfit for recirculation. The BSP assures the continued availability of other banknote denominations. 

4. If I fold the new polymer banknotes, will it still be accepted for payments?

Yes. Folded banknotes, whether paper or polymer, must be accepted in all payment transactions.

5. Will I get penalized for folding paper and polymer banknotes?

No. A person will not be penalized for folding paper and polymer banknotes and placing them in wallets or pockets. However, the BSP encourages the public to properly handle our banknotes and coins to prolong their lifespan.

The introduction of polymer banknotes in the Philippines is a major milestone, reinforcing the BSP’s commitment to modernizing the country’s financial system. With enhanced security, and increased durability, BSP’s Polymer Banknote Series represents the future of cash transactions.

As a BSP-supervised financial institution, Home Credit Philippines fully supports the adoption of the Polymer Banknote Series and is committed to raising public awareness about its benefits. We encourage our customers and partners to familiarize themselves with the First Philippine Polymer Banknote Series and experience the benefits of a smarter, cleaner, and more durable currency.

For more information, visit the Bangko Sentral ng Pilipinas website or follow Home Credit Philippines on our official social media channels.

As the financial ally of Filipinos, Home Credit provides world-class financial inclusion to help you achieve your goals. Get tips on managing your finances and more on the Home Credit app, available on the Apple App Store and Google Play Store.