How to Tell if Your Money Is Real

April 3, 2023

How to Tell if Your Money Is Real

The Bangko Sentral ng Pilipinas (BSP) confiscated 500 counterfeit banknotes with a theoretical value of ₱480,000 between January and September. If the holiday season is taken into consideration, there may be more.

The BSP is working hard to stop the use of counterfeit money, but con artists are coming up with increasingly cunning ways to trick their victims into accepting it. As a result, there is always a possibility that you will receive counterfeit money.

Furthermore, it might be difficult to distinguish a fake banknote from a genuine one, especially if you don’t know what to look for.

Money is lost when a bill is fraudulent. We’ve developed straightforward instructions on how to distinguish between fake money and real money to prevent you from suffering such a loss. We’ve also talked about what to do if you get bogus currency.

Please read: Money Scams and How to Avoid it

How to Spot Fake Money in the Philippines vs Real Money

Real money and counterfeit money may be distinguished quite easily if you know what to look for and where to look. The FEEL, LOOK, and TILT inspection approach was developed by the BSP. Below are two more helpful hints in addition to this approach.

Feel

The tactile clues on a note that will demonstrate its genuineness are expected to be felt in this step. The following are the items you should check:

  • Security Paper: The banknote from the Philippines should feel distinct from other types of paper. After all, the main component is abaca fiber. The smoothness shouldn’t be overly smooth.
  • Embossed Prints – The note has embossed parts, therefore its surface has a variety of textures.
  • Tactile Marks – A few pairs of congruent lines on either side of the note serve as identifiers and distinguishing features for visually impaired people. These marks also serve as proof that your note is genuine.

Look

How can you distinguish between genuine and counterfeit currency? By examining the distinctive visual characteristics of a note, you can distinguish between real money and counterfeit currency. What you need to check is as follows:

  • The “apparition” of the faces shown on the bill is known as the watermark. These shadow images can be seen on the right side of the note if you hold it up to the light.
  • Security Fibers: The thin, distinct lines that are randomly positioned on the front and back of the note are known as security fibers. They ought to be offered in blue and red.
  • The note’s asymmetrical serial number may be found on the lower left and upper right sides. This needs to have six to seven numbers and one to two prefix letters. The typeface gets bigger and thicker.
  • See-Through Mark: On the note, there is a truncated Babaylan script in the lower right corner. The abbreviated portion will be visible if you hold the money up to the light, showing the complete script. The script in question is PILIPINO.

Tilt

By tilting your money, you can continue your visual examination. This will make aspects visible that aren’t present on false notes.

  • Security Thread: This is the vertical line that spans the width of smaller bills, such as ₱20 and ₱50. When you hold up your bill to the light, you can see this line. For larger notes like 100, 200, 500, and 1,000, the line is represented by a sequence of metallic dashes with the text “BSP” and the value of the note.
  • Hidden Numerical Value – On the bill, you can see a scaled-down representation of the portrait in the upper right corner. The value of the money will be seen over the portrait if you tilt the note at a 45-degree angle.
  • Optically Variable Ink (for 1,000 notes): The value of the money printed on the note’s lower right corner should not only be embossed, but its color should also change from green to blue depending on the angle at which you look at it. This characteristic is absent from a counterfeit 1000 peso bill.
  • Optically Variable Device Patch (for 500 and 1,000 note denominations) – The portrait of the note’s reflecting foil bears a covert optical hint. Tilt your 500 peso bill to see if it’s fake or not. A picture of the Blue-naped parrot will appear. You’ll see a picture of a clam holding a South Sea pearl on the 1,000 note.
  • For newer notes, the numerical value on the left side of the bill should have a color-shifting effect. This is known as the “Enhanced Value Panel” (for 500 and 1,000 notes).

Attempt to damage the bill

On the paper banknote, dab some water. It may be a hint that the money you have is false if the color smears and the bill begins to tear. Keep in mind that since the notes are not composed of conventional paper, water exposure shouldn’t cause them to disintegrate.

Attempt to scrape the banknote as well. It can be fake if the printing smears or exhibits any signs of deterioration.

Changes in Design

The BSP occasionally introduces new money designs. You should pay close attention to the new components and features of the notes in every release.

For instance, the Philippine Eagle is featured on the $1,000 note’s 2022 design rather than the nation’s World War II Heroes. If you receive a 1,000 note with the Philippine Eagle that isn’t printed on polymer, it’s probably a fake bill.

This new design is a part of the polymer or plastic bills that run alongside the current 1,000 peso paper banknotes.

How to Avoid Fake Money

It’s crucial to remember that false notes are circulated by a variety of people, not simply con artists. Additionally, unintentional friends and clients may give you fake money. Don’t accept it, and instead educate everyone who unintentionally hands it to you. Here are a few tips:

  1. Check Your Money As Soon As You Get It
  2. Make Certain to Receive Your Payment in Proper Lighting
  3. Utilize a fake money detector
  4. Prepare Your Staff to Spot Fake Money

Conclusion

People still rely on physical money despite the rise of digital transactions and cryptocurrencies. Because of this, there is always a potential that you will get fake money.

Understanding the difference between fake and real money will help you avoid falling victim to con artists and scammers. Truth be told, it takes a lot of time and effort to examine every banknote that you come across.

However, it will be worthwhile, and having peace of mind is indescribably valuable. Additionally, every time you do a cash transaction, your confidence will increase.