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BSP helps senior citizen monetize termite-eaten banknotes

Aug 25, 2021, 6:31 AM
Opinyon News Team

Opinyon News Team

News Reporter

To avoid damage caused by termites, water, and other elements, the BSP encouraged the public to keep their savings in BSP-supervised financial institutions where they will be safe and secure.

THE Bangko Sentral ng Pilipinas (BSP) recently facilitated the replacement of nearly fifty thousand pesos-worth of hard-earned yet termite-mutilated savings of a 70-year-old ice delivery man, the central bank said in a statement.

Adonis Buemia, who has been delivering ice for a living for 30 years, was able to buy a house, a brand-new tricycle, and even save close to fifty thousand pesos from his 300-peso daily income.

Despite being a solo parent and a primary caregiver to a special child, Buemia managed to save P100 or one-third of his daily income, which he tucked away inside a cabinet in his home.

However, his savings almost disintegrated in the cabinet after termites feasted on them.

Buemia contacted a local television station for help, who then referred the case to the BSP.

The BSP Currency Policy and Integrity Department (CPID) immediately pre-evaluated what was left of the termite-infested bills.

BSP Acting Deputy Director Nenette Malabrigo contacted the bank nearest Buemia’s residence and endorsed the mutilated cash for replacement.

"Masayang-masaya talaga ako at napaliltan na at naibalik nang buo ang ipon ko. Maraming salamat sa bangko na tinanggap nila ‘yong pera. At maraming salamat sa Bangko Sentral sa lahat ng tulong para mapalitan ‘yong pera ko," Buemia said upon receiving the replacement cash last August 11.

To qualify for replacement of dilapidated bills, BSP said the size of the remaining bill should be 60 percent or 3/5th of the original size of the bill; a portion of any of the two facsimile signatures must still be seen or observed; and the windowed security thread must remain intact unless otherwise caused by fire, insect and any form of unintentional mutilation.

To avoid damage caused by termites, water, and other elements, the BSP also encouraged the public to keep their savings in BSP-supervised financial institutions where they will be safe and secure.

Tags: #BangkoSentralNgPilipinas, #mutilatedmoney, #termites, #CurrencyPolicyandIntegrityDepartment


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