How Many U.s. Dollars Can Youy Bring Into The Philippines At One Time?

[thailen]

I'm getting conflicting advice: Maximum of $10,000 vs unlimited, but any amount over $10,k000 must be declared. If it's the latter, do you have to pay a tax on the excess? Do you need a supporting document, like a deposit on a car or house?

[Jollygoodfellow]

You can bring in any amount but over $10000 has to be declared. 

 

Bringing Currency into the Philippines

BRINGING IN AND TAKING OUT OF FOREIGN CURRENCY IN EXCESS OF US$10,000.00

 

No permit is required from the Bangko Sentral ng Pilipinas to bring in to or to take out from the Philippines of foreign currencies.  However, foreign currency in excess of US$10,000 carried by the traveler must be declared at the Bureau of Customs Desk in the airport. This is pursuant to the Anti-Money Laundering Act of 2001, which requires all money transactions involving amounts in excess of PhP400,000 to be reported to the Anti-Money Laundering Council (even if the transaction is done through the banks).

 

Travelers arriving in the Philippines must submit to the Bureau of Customs Desk in the airport Arrival Area a Declaration Form stating the amount (foreign currency in excess of $10,000.00) being brought in. The source of the money (e.g., personal income) must be stated.

 

Travelers departing the Philippines must submit to the Bureau of Customs Desk in the airport Departure Area a Declaration Form stating the amount (foreign currency in excess of $10,000.00) to be brought in or taken out of the Philippines. The source of the money (e.g., personal income) must be stated.

 

BRINGING IN AND TAKING OUT OF THE PHILIPPINES PHILIPPINE CURRENCY IN EXCESS OF PHP10,000

 

The taking in and bringing out of Philippines of Philippine currency in excess of PhP10,000 is strictly prohibited, and any need carry any currency in excess of the said amount must be given authorization by the Bangko Sentral ng Pilipinas (BSP) International Operations Department, Room 301, 5-Storey Building, BSP Complex A. Mabini Street, Malate Manila, Tel. No. (+632) 708-7107 and Fax No. (+632) 306-3091.

http://www.philippineconsulate.com.au/bringing-currency-into-the-philippines.html

[earthdome]

I would not risk carrying more than a few thousand dollars in cash when flying to the Philippines for several reasons.

 

For one, you have to declare that you are carrying more than $10,000 USD in financial instruments (cash) to the TSA at the airport. If they think you or the money seem suspicious they will call additional law enforcement, and that law enforcement just might seize your cash even though you have not even been arrested. This is called civil asset forfeiture.

 

http://www.washingtonpost.com/news/wonkblog/wp/2015/06/30/why-the-tsa-posted-a-photo-of-cash-filled-luggage-on-twitter/

 

https://www.techdirt.com/articles/20150620/20213931403/nail-salon-owner-sues-return-life-savings-seized-dea-agents-airport.shtml

 

Second reason is what if you misplace the cash or it gets stolen.

 

Do a bank transfer or open a philippine bank USD account and write a check on your USA account and deposit it in the Philippine bank.

 

I carried $2500 USD when I made the move. I used a money belt and I kept a copy of the bank receipt for the cash withdrawal. Make a few photo copies of that receipt and keep it in safe places just in case the US government seizes your cash using asset forfeiture. I opened a USD bank account within the first week and deposited most of my cash.

[Old55]

I would very strongly recommend you heed Earthdomes suggestion. Even modest sums or cash could make you a target.

[OnMyWay]

The taking in and bringing out of Philippines of Philippine currency in excess of PhP10,000 is strictly prohibited, and any need carry any currency in excess of the said amount must be given authorization by the Bangko Sentral ng Pilipinas (BSP) International Operations Department, Room 301, 5-Storey Building, BSP Complex A. Mabini Street, Malate Manila, Tel. No. (+632) 708-7107 and Fax No. (+632) 306-3091.

 

I never understood this.  p10,000?  That is currently $216, peanuts.  Perhaps they have not updated the amount since the 1920's???  Surely people could accidentally violate this all the time.

[Jack Peterson]

I never understood this.  p10,000?  That is currently $216, peanuts.  Perhaps they have not updated the amount since the 1920's???  Surely people could accidentally violate this all the time.

 

 

 Sorry Guys & Gals, there has been a misprint somewhere along the way, it should read $10.000 not peso.

 

Just saying.

 

JP :tiphat:

 

Morning all :morning1:

[earthdome]

 

I never understood this.  p10,000?  That is currently $216, peanuts.  Perhaps they have not updated the amount since the 1920's???  Surely people could accidentally violate this all the time.

 

 

 Sorry Guys & Gals, there has been a misprint somewhere along the way, it should read $10.000 not peso.

 

Just saying.

 

JP :tiphat:

 

Morning all :morning1:

 

 

Jack, there are two different limits. $10,000 in USD which needs to be reported set by the USA and adopted by most countries and the 10,000 peso cash limit.

Edited August 17, 2015 by earthdome

[sonjack2847]

 

 

I never understood this.  p10,000?  That is currently $216, peanuts.  Perhaps they have not updated the amount since the 1920's???  Surely people could accidentally violate this all the time.

 

 

 Sorry Guys & Gals, there has been a misprint somewhere along the way, it should read $10.000 not peso.

 

Just saying.

 

JP :tiphat:

 

Morning all :morning1:

 

 

Jack, there are two different limits. $10,000 in USD which needs to be reported set by the USA and adopted by most countries and the 10,000 peso cash limit.

 

My friend brought in $20,000 and as he could prove what is was for and where he got it they let him through.

[Jack Peterson]

**  How Many U.s. Dollars Can Youy Bring Into The Philippines At One Time? **

 

 I believe this is the Topic Heading.

 

 Some people are very good at telling others to stay on Topic.

 

edited to spell check

Edited August 17, 2015 by Jack Peterson

[Dave Hounddriver]

The taking in and bringing out of Philippines of Philippine currency in excess of PhP10,000 is strictly prohibited,

It is good to remember that there are different limits for PHILIPPINE PESOS and for ALL OTHER CURRENCIES.

 

 

 Some people are very good at telling others to stay on Topic.

And when the boss posts it, its never off topic  :cheersty:

Edited August 17, 2015 by Dave Hounddriver