The increase to PHP 50,000 in the allowable amount of Philippine currency brought in or out of the Philippines took effect on 15 September 2016, per Bangko Sentral ng Pilipinas Circular No. The term “electronic transfer” as used above shall mean a system where the authority to debit or credit an account (bank, business or individual) is provided by wire, with or without a source document being mailed to evidence the authority. The monetary forms include legal tender Philippine notes and coins, checks, money order and other bills of exchange drawn in Philippine Pesos against banks operating in the Philippines. The regulations are compiled in the Manual of Regulations on Foreign Exchange Transactions (FX Manual) issued by the Bangko Sentral.Ī person may bring into (import) or take out of (export) the Philippines, either physically or by electronical transfer, legal tender Philippine currency of an amount not exceeding PHP 50,000 (fifty thousand pesos, Philippine currency) without prior authorization from the Bangko Sentral ng Pilipinas. In compliance with international conventions against money-laundering, the Bangko Sentral ng Pilipinas (BSP) has regulations on the amount of currency that a traveller can carry into or out of the Philippines.
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