Function over form

Now circulating in social media is a post where a man claims his folded new ₱1,000 bill was not accepted for payment in a mall. This post has raised concerns among those who are lucky enough --or perhaps unlucky enough-- to receive the new bills that these will amount to nothing at all.

This has prompted the mall to issue a statement saying they do accept folded new ₱1,000 bills. More importantly, this or similar incidents spurred the Bangko Sentral ng Pilipinas to issue a statement that “folded banknotes, whether paper or polymer, can still be circulated and accepted for payment."

That’s that. Folded new ₱1,000 bills can be accepted. Fold this issue up and lay it to rest.

What cannot be accepted, however, are if the new polymer bills are mutilated, written on, stapled, or torn.

While that is understandable couldn’t the government have just produced a ₱1,000 bill that was meant to last? All those security features, bells and, whistles will amount to nothing if it cannot be handled like any other paper denomination.

One sad fact we have to acknowledge is that everything is getting more expensive nowadays; we need more and more money to buy things that used to cost less. Handling a ₱1,000 bill is now more common than ever and we can only assume it will change hands more frequently among people who used to see them less.

All of us spend money in one form or another every day. And for most of us that would be the paper money we are giving or getting. Something that is meant to be handled by almost everyone every day and passed from one hand to another should have been designed to withstand wear and tear.

And this includes even the dreaded mutilation or small tears, which can come about as a consequence of daily handling, folding, plucking, exchanging, and what else that happens to a banknote.

While money looks pretty, it’s pretty much worthless until it’s used or spent on something. Perhaps function should take precedence over form next the time a new bill is designed.