Piso Caravan: Camalig Bank Makes Currency Access Easier

To improve the quality of currency circulation across the Philippines, the Bangko Sentral ng Pilipinas (BSP) has launched the Piso Caravan Program. This initiative aims to replace mutilated and unfit banknotes and coins, ensuring that the public has access to clean and usable currency. By establishing partnerships with local financial institutions like Camalig Bank, the BSP is enhancing its reach and effectiveness in promoting a more efficient monetary system. 

On 29 October 2024, Camalig Bank proudly participated in the Launching and Ceremonial Signing of the Pledge of Commitment under the Bangko Sentral ng Pilipinas (BSP) Piso Caravan Program. This event was held at the RDC Hall in the NEDA Regional Office V in Legazpi City.

Atty. Tomas J. Cariño, Jr., the Regional Director of the BSP South Luzon Regional Office, officiated the ceremony. With this partnership, Camalig Bank is stepping up as a Currency Exchange Center (CEC), making it easier for people to exchange unfit currencies. This initiative not only supports the BSP's Clean Note and Coin Policy but also contributes to its Coin Recirculation Program. It’s a great way for us to promote financial inclusion and support economic growth in our community.

For us at Camalig Bank, this partnership is more than just a new service. By offering accessible currency exchange, we aim to empower local businesses and individuals, helping them enhance their financial capabilities. This collaboration strengthens our service offerings, aligning with our commitment to fostering sustainable economic growth in rural areas.

The event also included a presentation on the 2023 Status of Digital Payments in the Philippines, showcasing the ongoing changes in the financial landscape. This aligns with Camalig Bank's vision to embrace innovation and serve our customers better.