Bangko Sentral ng Piilipinas

Demonetization of the NDS Banknotes

Banknote Series
Demonetization Schedule
Banknote Exchange
Online NDS Banknote Registration System
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The old banknote series (NDS) will still be accepted in exchange for NGC banknotes at all authorized agent banks and all BSP offices and branches for

OFs may register their NDS here


Exchange of Old Banknote Series

Exchange of NDS banknotes for NGC banknotes will be available at all authorized agent banks and at all Bangko Sentral ng Pilipinas offices and branches. Authorized agent banks are banking institutions under the supervision of the BSP. These include rural banks, thrift banks, commercial banks and universal banks.

Banks will provide the exchange service free of charge to all who wish to avail of it, regardless of whether they have an account with that bank or not. There will be no limit on the amount of banknotes a person will be allowed to exchange. Exchange services will be available until the last banking day of March 2017.

Persons living abroad who have in their possession banknotes from the old series, which they cannot exchange within the prescribed period, may register online from October 1 to March 31, 2016 through the BSP website. All NDS banknotes registered from 1 October 2016 to 31 December 2016 shall be submitted for exchange with New Generation Currency (NGC) banknotes within one (1) year from date of registration at any BSP office. On the other hand, NDS banknotes registered from 1 January 2017 to 31 March 2017 shall be submitted for exchange with NGC banknotes until 31 December 2017 at any BSP office.

For a full list of BSP offices and branches, click here.