Bringing Currency into the Philippines.
A lot of people have questions on this subject and I have seen one heck of a lot of wrong information circulating around out there.
So I thought I would set the record straight.
There are two sets of national laws which must be followed here, the U.S. A and the Republic of the Philippines.
USA Law Basically Says This:
There is no limit on the amount of money that can be taken out of or brought into the United States. (my emphasis)
However, if a person or persons traveling together and filing a joint declaration (CBP Form 6059-B) have $10,000 or more in currency or negotiable monetary instruments, they must fill out a “Report of International Transportation of Currency and Monetary Instruments” FinCEN 105 (former CF 4790).
If assistance is required, a Customs and Border Protection (CBP) Officer can help with filling out the form.
Please be aware, if persons/family members traveling together have $10,000 or more, they cannot divide the currency between each other to avoid declaring the currency.
For example, if one person is carrying $5,000 and the other has $6,000, they have a total of $11, 000 in their possession and must report it on a FinCEN 105. If a person or family fails to declare their monetary instruments in amounts of over $10,000, their monetary instrument(s) may be subject to forfeiture and could result to civil and criminal penalties.
The FinCEN 105 can be obtained prior to traveling or when going through CBP.
OK, Now What About Philippine Law?
When you come and go to and from the Philippines, there are two different sets of rules to consider. How much US (or other foreign currency) you carry, and how much Philippine currency you carry.
US Currency Rules:
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.
This rule is very similar to the US rules. In fact it’s virtually the same for all international travel, designed to combat money laundering and other illicit transfer of money. Again, there is NO LIMIT on how much you can carry, but you much report amounts over $10,000 USD (or equivalent) or risk confiscation of the money plus possible criminal penalties.
The Philippines Also Regulates the Coming and Going of Philippine Pesos
BRINGING IN AND TAKING OUT OF THE PHILIPPINES PHILIPPINE CURRENCY IN EXCESS OF PHP10,000
Note: Apparently this has been changed to Php 50,000 by order of the BSP: See:
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.
So there you have it. You can take in or out any amount of US currency you wish, but you must declare it or risk forfeiture. You can NOT bring in or take out more than P10,000 Pesos withou specific approval of the Philippine Central bank.
So what else can I help you with regarding Bringing Currency into the Philippines.