Mute bill

What irritated me today was having taken possession of a five hundred peso bill that was partly torn on the lower right portion.
I took hold of the P500 bill from an ATM machine.
When I tried to negotiate the bill, nobody wanted to receive it.
Some bank tellers describe this bill as "mute" bills, meaning mutilated bills.
It is perfectly negotiable, but others wouldn't want to receive it as legal tender.
This gave me a lot of hassle as I didn't notice it when it was spewed out of the ATM machine.
The solution, according to people, is for me to exchange it with any bank.
Imagine, I would have to go to a bank to have it changed.
When I inquired with a bank, they said the mute bill was perfectly negotiable.
They said as long as the bill's serial numbers are intact, it can be negoaited as legal tender.
The serial number is that found on the left portion (V925160).