Visiting other countries can bring you lot of anxieties. One of the problems you could possibly encounter is to fall as victim of a fake currency. Not only will you be losing some money when you get fake money, but you could also get into a lot of trouble.
Although not a very common occurrence, you can possibly get fake money from vendors, from stores where you shop, and even from ATMs. Here are 4 quick tips to detect fake Philippine money as you get it:
1. Touch the money
One easy way to detect fake Philippine bill is to run your fingers through it. Because real money is made of cotton and Abaca, it should be somewhat rough with ridges as opposed to the fake money made of smooth paper.
The images should also be raised. The texts, such a “Republika ng Pilipinas” on the top portion, the amount in words at the bottom, and the amount in figures are embossed.
2. Look for the watermark
The blank white area on the front part of all Philippine bills have watermark that match the image on the left. You can see the watermark by putting the money against the light and tilting it a bit. The image of the bill, as well as the denomination can be seen on the right side.
3. Find the security threads of each denomination
All Philippine notes have embedded security thread. The threads of the 20 and 50-Peso bills are 2mm wide, while the 100, 200, 500, and 1000-peso bills are 4mm wide. The 4mm security threads appear stitch-like and metallic that also change in color depending on the angle.
4. Look for the OVD (Optically Variable Device) patches for 500 and 1000-Peso Bills
The 500 and the 1000-peso bills have reflective round patches on the left front side of the bill. These patches change their color when rotated. In these patches, you will see a small BSP (Bangko Sentral ng Pilipinas) logo for each denomination with a Blue-naped Parrot for the 500 bills and South-sea pearl for the 1000 bills.
While these four tips can help you detect fake Philippine notes quickly, here are also some features you can check if you are suspicious about the money:
- Serial numbers with two prefix letters and six to seven-digit numbers in increasing size;
- Embedded red and blue fibers that can be seen under UV light;
- Ancient “Baybayin” word can be seen completely when money is placed against the light;
- Concealed denominational value on the upper left side of the portrait that can be seen when money is slightly rotated and tilted downwards;
- The metallic security threads of larger denominations have the denomination and the initials of BSP repeatedly in small prints; and
- The back of these threads also have repeated micro-prints of BSP initials.
It would be wise to check the bills while you are still in front of the source so you can easily return the money if any inconsistency is found. This would also protect yourself from being suspected for swapping real money with a fake bill.
It is never a pleasant experience to receive a counterfeit money or counterfeit bills. Be always vigilant.
How does one handle receipt of counterfeit money?
According to bsp.gov.ph, any person or entity, public or private, who receives a note or coin which is counterfeit or whose genuineness is questionable whether Philippine or foreign currency shall:
- Issue temporary receipt to the owner/holder indicating the name, address, community tax certificate or the passport number, if foreigner, indicate further the date of receipt, denomination, serial number in the note or series in case of coins;
- Require the owner/holder to countersign the receipt; in case of refusal, state the reason therein;
- The counterfeit money must be forwarded for examination/appropriate action within five (5) working days after the receipt to any BSP office;
- If the situation warrants, report to the BSP, the Philippine National Police (PNP) or other law enforcement agencies for filing of appropriate criminal charges for violation of pertinent articles in the Revised Penal Code on counterfeiting.