The Bangko Sentral ng Pilipinas (BSP) South Luzon Regional Branch is urging Bicolanos to exchange their unfit peso bills and coins at Liberty Commercial Center (LCC) malls across the region.
LCC branches are now accepting mutilated banknotes and coins through a partnership with BSP to promote financial literacy and proper currency handling.
During the Piso Caravan at an LCC mall on Wednesday, Alvin Bermido, BSP Legazpi area director, highlighted the program’s role in ensuring only fit banknotes circulate in the economy.
“The Piso Caravan program aims to cater to those who do not have access to banks, allowing the public to walk into LCC malls and exchange their unfit banknotes,” Bermido said.
He also noted that two coin deposit machines will be installed in Albay and Camarines Sur this year.
Romie Tan, LCC executive director, welcomed the initiative, emphasizing its role in educating consumers about responsible currency use.
“We’re truly honored to support this effort, which plays a crucial role in ensuring the efficient circulation of coins and strengthening public awareness of the Philippine currency,” Tan said.
BSP South Luzon Regional Director Tomas Cariño praised the partnership, recognizing LCC’s extensive network of over 80 branches as a key factor in the program’s success.
“The success of the BSP Piso Caravan is made possible through the invaluable contributions of our currency exchange partners, and with LCC Malls now joining us as a key ally, we are even more confident in the impact of this initiative,” Cariño said.
Meanwhile, Paulette Menguilla, BSP-Legazpi branch officer IV, led a briefing on polymer banknote security features, counterfeiting, and mutilated money. She stressed the importance of recognizing real currency.
“So dapat mahalaga na malaman natin ang security features… para kung may pagkakataon na inabutan kayo ng pera, you can easily tell na peke yung pera,” Menguilla said.
She also emphasized the importance of counterfeiting laws under Republic Act 10951 and urged the public to report any suspicious or fake money to authorities.