The Bangko Sentral ng Pilipinas (BSP) reminded the public that the exchange of unfit or damaged banknotes at banks is free of charge.

The central bank urged the public to transact only with BSP-authorized banks when exchanging currency, cautioning against individuals or unauthorized parties who impose unnecessary “service fees.”

In preparation for the expected surge in cash demand during the Yuletide season, the BSP said it continues to produce and distribute fresh banknotes and coins to ensure adequate supply in banks nationwide.

At the same time, the BSP encouraged the public to consider giving cash gifts through digital platforms or e-money, also known as e-aguinaldo. Sending cash gifts via e-wallets and online banking provides a safer, more convenient option for sharing holiday cheer with godchildren, family, and friends this Christmas season.