BSP urges public: Give e-aguinaldo instead of cash

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December 23, 2025 | 12:00am

MANILA, Philippines — With the expected surge in demand for banknotes in this season of gift-giving, the Bangko Sentral ng Pilipinas (BSP) is urging Filipinos to consider using digital or electronic money or e-aguinaldo instead of cash gifts to godchildren, family and friends.

“Using electronic wallets and online banking offers a safe and more convenient way to send cash gifts during the Christmas season,” the central bank said in a statement.

At the same time, the BSP assured the public that it is ramping up production of fresh or crisp banknotes and coins to ensure that banks are well stocked ahead of the expected surge in currency demand during the Yuletide season.

Noting the increased demand for crisp and fresh bills at this time of the year, the BSP has also reminded the public that exchanging worn, damaged or unfit banknotes through authorized banks is free of charge, ensuring Filipinos can replace old currency without incurring any fees.

“The public is encouraged to transact with BSP-authorized banks for currency exchange to avoid ‘service fees’ imposed by individuals or other parties,” the BSP said.

“Meanwhile, the BSP continues to produce fresh banknotes and coins to make these available in banks in anticipation of the expected surge in currency demand during the Yuletide season,” it said.

“The BSP continues to produce fresh banknotes and coins to make these available in banks in anticipation of the expected surge in currency demand during the Yuletide season,” the statement read.

The BSP has recently proposed amendments to incident management rules and updated business continuity procedures for participants in the Peso Real-Time Gross Settlement system, aiming to bolster the resilience of critical financial market infrastructures.

The draft also introduces staggered reporting timelines, cyberattacks and similar disruptive events must be reported immediately, while other unresolved incidents are required to be reported within two hours of occurrence.

Participants will now be required to conduct technical investigations on issues involving system access, report generation, transaction monitoring, settlement notifications, and other relevant incidents.