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For the ₱500 and ₱1000, the denomination value has been embossed with optically variable ink wherein the color changes if the banknote is tilted. A stylized Philippine Flag has also been added with optically variable ink on the ₱500 note replacing optically variable device patch. [19] The Concealed Value are more reflective (all banknotes).
The Philippine five hundred-peso note (Filipino: Limandaang Piso) (₱500) is a denomination of Philippine currency. President Corazon Aquino and her husband, Senator Benigno Aquino Jr. are currently featured on the front side of the note, while the Puerto Princesa Subterranean River National Park and the blue-naped parrot are featured on the reverse side.
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This small size decomposes a banknote into typically more than 500 tiny pieces and rules out reconstruction like a jigsaw puzzle because the shreds from many banknotes are commingled. A subsequent briquettor compresses shredded paper material into a small cylindrical or rectangular form for disposal (e.g. landfill or burning). [ 28 ]
A banker's draft (also called a bank cheque, bank draft in Canada or, in the US, a teller's check) is a cheque (or check) provided to a customer of a bank or acquired from a bank for remittance purposes, that is drawn by the bank, and drawn on another bank or payable through or at a bank. [1]
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Cheque clearing (or check clearing in American English) or bank clearance is the process of moving cash (or its equivalent) from the bank on which a cheque is drawn to the bank in which it was deposited, usually accompanied by the movement of the cheque to the paying bank, either in the traditional physical paper form or digitally under a cheque truncation system.
In 2007, Bangko Sentral ng Pilipinas (BSP) began the 12-year demonetization process of the New Design Series when the New Generation Currency (NGC) project was started the formal conceptualization process, which was a meeting of the minds of people with diverse backgrounds and ideas: central bankers, artists, technocrats, historians, communication experts, and currency printers to further ...