coming in with cash thats over the limit

[sanagimo]

Ive gone into Canada transparent of the cash I was holding and explained Ive been living in Japan for many years and there were no problems. 

What about the Philippines? Lets say you wanna enter with a couple million peso. Obviously hiding and getting caught is not an option. I know you have to declare anything over a half mill. What happens when you are up front that its your savings and you want to lets say buy a condo.

[hk blues]

20 minutes ago, sanagimo said:

Ive gone into Canada transparent of the cash I was holding and explained Ive been living in Japan for many years and there were no problems. 

What about the Philippines? Lets say you wanna enter with a couple million peso. Obviously hiding and getting caught is not an option. I know you have to declare anything over a half mill. What happens when you are up front that its your savings and you want to lets say buy a condo.

As far as I'm aware, you can bring in as much as you like (probably within reason) but anything above $10,000 or equivalent has to be declared.  I wouldn't have thought a sum enough to buy a home would arouse any suspicion.

 

[Mike J]

I would be nervous as hell if I carried and reported that sum of money.  How many people would then know?  Are you setting yourself up to be robbed?  I would figure some way to transfer from an outside account into the Philippines rather than carry the cash.  Maybe that is just me being too cautious? 

.

Edited September 6, 2022 by Mike J

[OnMyWay]

1 hour ago, hk blues said:

As far as I'm aware, you can bring in as much as you like (probably within reason) but anything above $10,000 or equivalent has to be declared.  I wouldn't have thought a sum enough to buy a home would arouse any suspicion.

 

No, that was discussed in another thread.  Read Hounddriver's post.

 

[OnMyWay]

55 minutes ago, Mike J said:

I would be nervous as hell if I carried and reported that sum of money.  How many people would then know.  Are you setting yourself up to robbed.  I would figure some way to transfer from an outside account into the Philippines rather than carry the cash.  Maybe that is just me being too cautious? 

.

It is apparently illegal anyway, but I'm with you!  One phone call from a corrupt official and your life is on the line.

Full story with videos.  I have a friend who live about a mile from here.

https://www.dailymail.co.uk/news/article-11178511/Shocking-moment-Mercedes-driving-thug-rams-SUV-beating-window-HAMMER.html?ito=facebook_share_article-facebook_preferred-floatingbar

Brazen thieves in $150,000 Mercedes ram SUV on to Manhattan sidewalk before smashing window with GUN and snatching $20,000 in cash in scenes straight out of Grand Theft Auto

• The scene shocked bystanders on Second Avenue an 91 street around 4:40 pm Saturday when two cars came speeding down the wrong side of the road
• The video clip captured by a bystander shows the car being driven by the victim, a Silver Toyota Rav-4, zooming down the avenue at high speeds
• Eventually it is overtaken by a Mercedes being driven by the suspects, which slams into the SUV, causing it to spin out, as the driver continues to try to escape
• At that point, the Mercedes driver again steps on the gas and pushes the other car up onto the sidewalk, where another chase ensued, causing onlookers to flee
• A man armed with a handgun then exits the passenger side of the Mercedes, approaches the other vehicle, and snatches the stack of cash from the driver  
• No injuries were reported as a result of the heist - the suspects are still at-large

[hk blues]

10 minutes ago, OnMyWay said:

No, that was discussed in another thread.  Read Hounddriver's post.

 

Yes, I wasn't explicit enough - I assumed he'd be bringing in foreign currency equivalent to 2m pesos.  Maybe wrongly.

[OnMyWay]

2 hours ago, sanagimo said:

Lets say you wanna enter with a couple million peso.

Actually, this is probably a moot scenario, because where would you find a couple of million peso outside the Philippines?

Our family is coming from NZ next week.  You can only find a few pesos in other countries, unless it was smuggled out of PH illegally. 

[hk blues]

2 minutes ago, OnMyWay said:

Actually, this is probably a moot scenario, because where would you find a couple of million peso outside the Philippines?

Our family is coming from NZ next week.  You can only find a few pesos in other countries, unless it was smuggled out of PH illegally. 

Which is why I assumed he'd be bringing in foreign currency 

[Heeb]

Make sure you bring new bills in, the slightest flaw or mark and they get rejected by the money changers.

[JJReyes]

41 minutes ago, Heeb said:

Make sure you bring new bills in, the slightest flaw or mark and they get rejected by the money changers.

I organize my foreign currency in envelopes supplied by my bank for that purpose.  One time I accidently ripped the envelope at the wrong place causing a tear through the bills.  Philippine money changer wouldn't touch it.  No problem with the US bank upon my return.  The money was redeposited into our account.

There was a news story some time ago about a Philippine business owner whose money was attacked by termites.  It took time, but the Bangko Sentral replaced all currency damaged at less than 40%.