MANILA, Philippines — The Bangko Sentral ng Pilipinas identified that a printing machine error resulted in “faceless” P100 banknotes, noting that the number of misprinted bills is “very minimal.”
In a press briefing Thursday, BSP Managing Director Carlyn Pangilinan called the incidents of “faceless” bills that were posted on social media “isolated cases.”
There are reported 33 pieces of misprinted P100 bills or less than a tenth in circulation.
“In the manufacturing and production process, there are cases when machine errors cause rare misprints. In this particular case, the BSP has identified the mechanical cause of the said erroneous printing. It has since been resolved,” Pangilinan said.
She cited that there is no 100 percent error-free production of banknotes.
“This is the first time that it was loaded into an ATM,” Pangilinan said.
Moreover, BSP Director for Corporate Affairs Elizabeth Medina-Navarro assured the public that quality controls are in place.
The BSP managing director appealed to the individuals affected to turn over misprinted notes to BSP Head Office in Manila, its security plant complex in Quezon City or regional branches. The bills will be replaced at par value.
Pangilinan said the “faceless” bills are legal tender and may be used as collector’s items because they were issued by BSP.
But Navarro cautioned the public on using the misprinted bills for regular transactions because they do not have all security features to guard against counterfeiting.
On Sunday, a bank client posted a complaint on Facebook that she withdrew “faceless” P100 bills from one of the ATMs of the Bank of the Philippine Islands in Eastwood City.
READ: BPI investigates viral ‘faceless’ money