How much money can I bring into the Phillppines?

[Deanotheman]

Hello everyone

Does anyone know how much money in British/Peso I can bring into the country? I have to pay for things as soon as I land in Manila

[stevewool]

its down to commen sense i took over 2000 pounds in cash you have to declare it on the form you fill in on the planebut all i put down was more then the amount it says , hope this helps, have you thought about loading a card before you leave then with draw what you need when there:)

[Terpe]

Deanotheman,
As stevewool said it's down to commom sense. Using an ATM is straightforward but normally you will be charged a local bank amount up to P200 depending!!

If you want to know the legality please read the following:-

"It is illegal for any incoming or outgoing passenger to bring in or out Philippine Pesos
in excess of P10,000.00 without prior authority from the Bangko Sentral ng Pilipinas.
Any violation of this rule may lead to its seizure and civil penalties and / or criminal prosecution. (BSP Circular 98-1995)
The transportation of foreign currency or monetary instruments is legal.
However, the carrying of foreign currency in excess of US$10,000.00 or its equivalent in other foreign currencies must be declared to a Customs Officer or the Bangko Sentral ng Pilipinas.
Violation of this rule may lead to seizure and sanctions, fines and / or penalties."

Having stated that, I have taken more than P10,000 in cash but not declared it. Also, like Steve I have taken significant amounts of Pounds. Your decision. But.... remember even when leaving blighty you are required by law to declare any sterling over £1000
Not that its really issue, as long as you can prove (if ever you got pulled up) that it's your money and you can prove that you obtained it legally (ie Bank statement/conformation) AQgain I have never had any issue, but just want you to understand the complexities of the law.
Normally I will transfer money to my bank account in Phils before I travel>always trying to get best rate.

When you land in Philippines you will be required to sign a declaration that you either do or do not comply with the stated amounts
Hope this helps you.

[johncar54]

Unless the money is 'black' anyone would be extremely foolish to carry any large amount of cash (more than they can afford to loose). Apart from the possibility of illegality, pick-pockets/ thieves are very good at what they do for a living !!!!


As Terpe said, load up your credit/debit card.

As for charges, until recently, and it may still be so (you can check on the internet) if you use a Visa card and draw cash from an ATM with a Visa symbol, there was/is no charge. It may apply to other cards too.

[Arthur Little]

As for charges, until recently, and it may still be so (you can check on the internet) if you use a Visa card and draw cash from an ATM with a Visa symbol, there was/is no charge. It may apply to other cards too. [/COLOR]

Can't be absolutely certain from memory :NoNo: ... but don't think I incurred any charges for using my Bank of Scotland Visa Debit Card in the Philippine ATMs early last year!

[Deanotheman]

Thanks, that was a great help, I was going to bring all my money over in Peso and fight the muggers!! hehe

[keithAngel]

also deepends how long are you coming for I carry a bit of sterling in case of atm failures or if i want to load up befor going to the provinces

it really depends on what your doing here case by case ive also got a few travell cards that i can load by phone from my bank

check caxton and fairfax out

metro bank is charging 150 piso per withdrawel for overseas atm,s:xxgrinning--00xx3:

[joebloggs]

i would take a few £100s, and change half of it to php at the money exchangers in the airport, so you've got some php on you. good idea not to carry too much cash, but then i've always taken about £1k in cash with me everytime i've gone :doh

[katerry]

it depends how many days u will stay here in philippines..

[jimeve]

Maximum $10,000

[somebody]

On Border Patrol they were showing how people were being stopped with large sums of cash on them. I think if you took out over 1000 pounds in cash from the UK you have to be able to prove there and then where it came from. Ie bank receipt, bank book etc.
Possibly they might not pick you out but they might so worth making sure you have some proof of origin for the money on you..

[katerry]

u can only bring 10,000 pesos from uk to philippine airport i guess... experience by my hubby before..

[tomboo]

they have the 10kus limit

but i cant remember seeing anyone stopped by customs,having said that, the best advice has to be by card, how many people would walk around their home town or city with a few grand in their pocket day after day?so why do it in PH :crazy:

[bornatbirth]

i have taken £1000 with me most times and when i got married i took over £4000, i doubt anyone will check you besides your going to spend it there, why would they be bothered?

[katerry]

:doh:doh:doh:doh:doh

[bornatbirth]

and your point is?

[Terpe]

There's a big difference between what people do and the regulation.

There are a two basic issues:-

1. How much money am I allowed to take out of UK
2. How much money am I allowed to take into my destination country

The HMRC website states:-

You only need to declare cash if you are carrying 10,000 euros or more (or the equivalent value in other currencies) and you are:

•entering the UK from a country outside the EU
•leaving the UK to travel directly to a country outside the EU
The term 'cash' covers:

•notes and coins in any currency
•bankers' drafts
•cheques of any kind, including travellers' cheques

If you do declare the cash you need to complete a form.
There is no mention of what happens when you do declare.
Anybody know this??


When you enter the Philippines you need to observe the following :-

"It is illegal for any incoming or outgoing passenger to bring in or out Philippine Pesos
in excess of P10,000.00 without prior authority from the Bangko Sentral ng Pilipinas.
Any violation of this rule may lead to its seizure and civil penalties and / or
criminal prosecution. (BSP Circular 98-1995)

The transportation of foreign currency or monetary instruments is legal.
However, the carrying of foreign currency in excess of US$10,000.00 or its equivalent
in other foreign currencies must be declared to a Customs Officer or the Bangko Sentral ng Pilipinas.
Violation of this rule may lead to seizure and sanctions, fines and / or penalties."

So in principle P10,000
There is no mention of what happens when you declare higher amounts of cash.
Anybody know this?

Unless you know the consequences of declaration in both case, it's
better to stay within known parameters.

Would be interesting to learn though, what happens after declaration.

[Languish]

I am intrigued to know the answer to this... i took a few hundred quid in cash with me and didn't experience any difficulties.

[yorkie]

I just scan read the replies due to the late hour so forgive me if I repeat anything already stated. 10k pesos is the limit as has been said, but I have taken more through on my first 2 visits and just not declared it, and neither was my wallet checked. Its probably foolish to take more without declaring it, however the first time I went through I was shaken down for cash by some airport security guards right outside (being naieve at the time I didnt report them) so on my second trip I didnt want to declare the cash in case I'd get some problem of a similar nature to my first visit.

However, since I have found the best way is to just get cash over there, depending who you bank with of course its just as easy to get the money from an ATM depending on international charges. Also the exchange rate you'll get for £ to php here in the UK was last time I went to philippines was something like 63 php to £1, whereas in the Philippines they were exhcanging at something like 75php to £1. I'd even considered sending money to my wife's family in Philippines via xoom to be picked up on arrival rather than use the lower uk exchange rate, but after charges its about the same... thats my experience of it anyway, just change the money or use atm in phlippines (being aware that some you can only withdraw like 5000php from in one transaction) others may offer differing advice.

[mikey73]

I just scan read the replies due to the late hour so forgive me if I repeat anything already stated. 10k pesos is the limit as has been said, but I have taken more through on my first 2 visits and just not declared it, and neither was my wallet checked. Its probably foolish to take more without declaring it, however the first time I went through I was shaken down for cash by some airport security guards right outside (being naieve at the time I didnt report them) so on my second trip I didnt want to declare the cash in case I'd get some problem of a similar nature to my first visit.

However, since I have found the best way is to just get cash over there, depending who you bank with of course its just as easy to get the money from an ATM depending on international charges. Also the exchange rate you'll get for £ to php here in the UK was last time I went to philippines was something like 63 php to £1, whereas in the Philippines they were exhcanging at something like 75php to £1. I'd even considered sending money to my wife's family in Philippines via xoom to be picked up on arrival rather than use the lower uk exchange rate, but after charges its about the same... thats my experience of it anyway, just change the money or use atm in phlippines (being aware that some you can only withdraw like 5000php from in one transaction) others may offer differing advice.

hi
i was able to withdraw 10,000 php and i was charged (the machine told me at the time) between 150-200peso's per transaction. and i was paying from £151-£154 for the 10,000 pesos. which works out at around 66php per £ and that was during the middle of last month.

[LuisaKC]

Thanks, that was a great help, I was going to bring all my money over in Peso and fight the muggers!! hehe

haha. you can try;) goodluck!

[johncar54]

hi
i was able to withdraw 10,000 php and i was charged (the machine told me at the time) between 150-200peso's per transaction. and i was paying from £151-£154 for the 10,000 pesos. which works out at around 66php per £ and that was during the middle of last month.

When I was in RP in 2006 I found that the ATMs at HSBC allowed me to draw, in one go, up to my daily limit. I think that was in excess of 20,000P.

On one occasion when the ATM at an HSBC office did not work I was able to draw over the counter using my Nationwide Debit card. I believed at the time that I did have an HSBC account in UK, although I had not used it for several years. However, later I found that it had been cancelled by the bank a few years earlier.

[Baliw99]

As this thread is about money, can I ask 2 questions:-

1) Is it better to take pounds and change money there, as I was getting a lower exchange rate than it was showing on the net, or change here and take there. Do some exchange booths give a better rate than others?

2) What would I need to open a bank account in the Philippines and can I open a joint one with my partner?

Thank you for the answers. :D

[Terpe]

Baliw99.
In terms of exchange rates, some you win some you lose.
They vary day to day. Since August they have been around the 68/69 level
without any major swings up or down.
Bear in mind the govt Spending Review to be declared on Oct 20. Who know what impact that will have. Personally I feel the rate may well dip.(not in our favour)
Better to read the posts in this thread to make your own choice.
Everyone has their own logic that they feel happy with.


If you want to open a bank account I would suggest you personally meet with the bank manager together with your partner, passports (or other photgraphic ID) and evidence of permanent address.
It then really depends on the individual bank, branches and individual manager.
If the manager agrees, they will not breaching any laws.
Talk only with the manager as nobody else will have the authority to deviate from
the 'standard' procedure.
You did not mention the type of bank account, but you need to be aware of
the UK rules, especially from HMRC.

[Baliw99]

Baliw99.
In terms of exchange rates, some you win some you lose.
They vary day to day. Since August they have been around the 68/69 level
without any major swings up or down.



If you want to open a bank account I would suggest you personally meet with the bank manager together with your partner, passports (or other photgraphic ID) and evidence of permanent address.
It then really depends on the individual bank, branches and individual manager.
If the manager agrees, they will not breaching any laws.
Talk only with the manager as nobody else will have the authority to deviate from
the 'standard' procedure.
You did not mention the type of bank account, but you need to be aware of
the UK rules, especially from HMRC.

When I was there, I started at 67p to £1, then it dropped down and I was only getting 60-61 at the end and this was last month. I know from Thailand that you get a better exchange in Thailand, so was shocked that I was getting lower than the rate on the net in the Philippines.

The type of account that I would like to open is one that I can transfer money from the UK into each month and leave in to save for our wedding, I do not have a permanent address there though.

[johncar54]

I repeat what I said above regarding carrying cash:-

Unless the money is 'black' anyone would be extremely foolish to carry any large amount of cash (more than they can afford to loose). Apart from the possibility of illegality, pick-pockets/ thieves are very good at what they do for a living !!!!


As Terpe said, load up your credit/debit card.

[Terpe]

The type of account that I would like to open is one that I can transfer money from the UK into each month and leave in to save for our wedding.....

Please be sure to inform yourself on the HMRC rules.

[johncar54]

Somebody here, May have been Sars was talking about a RP bank with offices in UK. It may have been BPI which are at:- http://www.pnbeurope.com/

I believe it was possible to open an account in UK.

I have searched the posts here, as there was a lot of info on this subject a while ago, but I cannot get it to show.

When I was in Phil a few years ago, I was asking the manager in BPI about opening an account but in the end, can't remember why, we opened the account in just my wife's name.

[terenchion]

has anyone ever been stopped taking english money out of the philippines back to the UK???? Can i take 10000pounds back ??? can i split that with my wife and we take 5000 each.....????:NoNo:

[johncar54]

Why would you want to carry that much money and risk it being stolen?

That's what banks are for.

As for the amount: As shown above you can take in 10,000 Pesos (or I guess the equivalent). £10,000 is about 650,000 P


I suspect that by not transferring through the banking system, if the authorities discovered it they would suspect you were handing black money and take appropriate action.

[terenchion]

ok your not strickly correct on the 10,000 thing... its 10,000 pesos and no more than 10000 dollars... but is that also applying to pounds or euros..... the reason i am taking that amount is i dont have a bank account here...... and only a building society account in the UK..

[terenchion]

To be honest I dont want opions on this question just experiences... I have my own opions,, need to know if anyone ever left the philippines with that amount.... I entered with many many thousands of euros.... many..... and never got checked once.... just wanting to know about leaving, if its any different ......

[terenchion]

OPINIONS SORRY....:cwm24:

[johncar54]

To be honest I don't want opinions on this question just experiences... I have my own opinions,, need to know if anyone ever left the Philippines with that amount.... I entered with many many thousands of euros.... many..... and never got checked once.... just wanting to know about leaving, if its any different ......

OK My experience as a former police officer is that unless you can afford to loose it don't carry it. Unfortunately I have met many, in fact almost all those who been reporting having been pick-pocketed, who have said, ' I never thought it would happen to me." But it did that's why they were talking to me, and it does happen quite often..


As for experience of being stopped carrying more than permitted by law, you will correctly assume I have never done so. If I did I would not have been surprised to have been stopped, the money confiscated and to be prosecuted. But, clearly it's entirely your choice.

Incidentally , I don't have a bank account either, only building society accounts, but I have never experienced any problem using ATM and or transferring money in several countries over many years.

Any way, Good luck, I hope you don't, but you may need it !!!.

[Terpe]

terenchion,
Experience and opinion are one thing.
Legality is another.
As you said you have you own experiences and you own opinion.

I suggest you focus on legality.
You know already the law both in UK (10,000 Euros) and Philippines (10,000 USD +
10,000 peso)
Please double check with UKBA and with Bangko Sentral to be certain.

To be honest I don't know the reality of checks in Phils.
BUT in UK you can be legally challenged to provide proof of ownership, source and reason for carrying over GBP1000 in or out. Of course not normally an issue.
Just be sure you can comply.

Outside of these guidelines (experience and opinion) is down to your own personal risk assessement.
Maybe you will be checked maybe not. Bit like bringing 5000 ciggies to Uk without declaration. Except with ciggies maybe its just a warning and confiscation. With cash
you WILL face money laundering issues and potential incarceration.
Deal or no Deal

[Terpe]

terenchion,
Whoops, my bad info.
The amounts I mentioned may not be legal limits.
They are the limits below declaration.
I have asked about consequences IF you DECLARE but no info.

If you want to know what WILL happen following declaration above limits (apart from proof of ownership/source/reason) then MUST ask UKBA and Bangko Sentral.
These are the only sources for reliable info and the correct forms/approval/certification.

[Terpe]

terenchion,
Whoops, my bad info.
The amounts I mentioned may not be legal limits.
They are the limits below declaration.
I have asked about consequences IF you DECLARE but no info.

If you want to know what WILL happen following declaration above limits (apart from proof of ownership/source/reason) then MUST ask UKBA and Bangko Sentral.
These are the only sources for reliable info and the correct forms/approval/certification.

By the way would you be kind enough to please inform the forum on the result if you contact these people? Thanks

[terenchion]

Thanks to everyone giving advice and some limited experiences, having checked with UKPA I can take 8000pounds to UK quite legally.. cos it does not exceed 10,000 euros (the legal limit)... so no worries... once again cheers...:icon_lol:

[Terpe]

Thanks to everyone giving advice and some limited experiences, having checked with UKPA I can take 8000pounds to UK quite legally.. cos it does not exceed 10,000 euros (the legal limit)... so no worries... once again cheers...:icon_lol:

How about taking out of Phils? Did you check?
This was your original question.

[terenchion]

HI Terpe, no that was posted by someone else i just entered the uk currency to the question..... But i know from past experience i took out 20,000 and a corrupt security guard patted me down and asked what it was in my pocket. I said abot 20,000 pesos.. he said you are only allowed 10,000 to take out of country.. i said i was gonna spend it in the duty free section... he said give me a souvenir.. I gave him 100 pesos he was no problems.... nobody else asked or checked.......I didnt have any large amounts of uk cash on me so didnt think about that issue.....:icon_lol:

[johncar54]

Terenchion, glad you cleared that up, as the question opening this thread was about taking money into RP. Not into UK

[fred]

When I was younger I would put 2 grand flattened out in each trainer shoe and walk on it!!
24 hours later take it out and change the sweaty notes on the black market here..Poor money changers!
No need to worry about pick pockets and no way of losing the cash even if I did have more than a few beers in transit!:xxgrinning--00xx3:

[johncar54]

Fred I cannot remember any one being robbed for money in their shoe, although I guess as we know the 'trick' the thieves do too, but I have known a number of cases of people be robbed of their smart trainers. So I guess to be on the safe side, don't wear shoes which a thief would be tempted to steal !!!!

[terenchion]

I dont suppose anyone knows, why you cannot take out or bring in to the country 10000 dollars each... if your married your not supposed to do that... only bring in or out 10000 between you.... TOTALLY CRAZY RULES.......:NoNo:

[johncar54]

I guess it's along the same lines that if the duty free allowance is say £100 per person two people cannot bring in something, which they share, which is worth say £150

I guess we all hate those things which say, we cannot do what WE want to do, whilst all the other things they say are probably reasonable and logical !!!

[terenchion]

SORRY... That is just not an answer or excuse... If 2 people enter a country and the allowance is 10.000 max it has to be each... otherwise they are saying cos your married your only half a person..... Thats just stupid.....what if the wife has her own bank account own lifestyle own criteria.... Each individual has the right to carry 10000 not split it.....Just cos your married dont mean you are only entitled to half of anything .......... silly rule........

[terenchion]

As for duty free... if you travel with your wife you are entitled to double the allowance.... i know that for FACT.......

[johncar54]

I know that travelling from Gibraltar into Spain although a married are entitled to an allowance for each person. It is an individual allowance and cannot be added to another person's, thus making it possible to import an individual item which has a total value equal to the combined allowances.

As for the complaint here, I believe in UK a married man (sorry not intended to be sexist) has the same allowance as a single person. In Spain we get a higher allowance than a single person. I know in UK a couple can apply to taxed separately but surely if only one has an income then they only get one allowance ? Thus Terenchon's contention ...... ..Just cos your married don't mean you are only entitled to half of anything .......... silly rule........ would seem apply in UK too, not Just RP !

As I said, I guess we all hate those things which say, we cannot do what WE want to do, whilst all the other things they say are probably reasonable and logical !!!

[terenchion]

I lived in spain for 5 yrs in BENIDORM.. so i know a lot about spain and its rules.... but getting back to individuals going through customs being married has no bearing on anything, My allowance of 10000 max should be no different to my wifes 10000 max. Being married is not the issue...As I said earlier, For all intensive purposes my wife could be totally independent and have her own money etc etc... So that arguement is futile.... anyway we can go round and round the houses here... obviously you nor I no the answer to this question... We will just see what happens......:NoNo:

[terenchion]

KNOW THE ANSWER ...... SORRY:doh

[Terpe]

I dont suppose anyone knows, why you cannot take out or bring in to the country 10000 dollars each... if your married your not supposed to do that... only bring in or out 10000 between you.... TOTALLY CRAZY RULES.......:NoNo:

Can I take it you are talking about in+out Phils?
If so may I kindly ask where is the source of information on restrictions to married couples?
Thanks in advance

[johncar54]

Sorry to be pedantic, But as I said above, I cannot understand why anyone would want to carrying a relatively large amount of currency from one country to another, and run the very real risk of having it stolen, other than maybe the obvious, to avoid tax or to conceal one's possession of it. But I not asking you what the reason is, it's none of my business.

[joebloggs]

I've always taken at least £1,000 every time i went to the phils because in the past i had trouble trying to get more than a few 1,000php from an atm and trying to find the ones where i could take up to £200 in one go, also risk the card getting blocked :NoNo:

I never felt at risk or never had any money stolen, maybe because we were always careful where and when i went anywhere :Erm:.. or maybe its because of i was near 6ft 3" and 16 stone :icon_lol:

thou i probably wouldn't take so much cash now :rolleyes:

[johncar54]

I've always taken at least £1,000 every time i went to the phils because in the past i had trouble trying to get more than a few 1,000php from an atm and trying to find the ones where i could take up to £200 in one go, also risk the card getting blocked :NoNo:

I never felt at risk or never had any money stolen, maybe because we were always careful where and when i went anywhere :Erm:.. or maybe its because of i was near 6ft 3" and 16 stone :icon_lol:

thou i probably wouldn't take so much cash now :rolleyes:

The risk factor I was quoting was bearing mind the probably hundreds of victims I met, or was aware of, when I was a police officer for 30 years in UK. As far as I remember, it was never going to happen to them either. But it did make their loss any easier to accept.

[Terpe]

.. or maybe its because of i was near 6ft 3" and 16 stone :icon_lol:

That'll be the one.:D

[joebloggs]

The risk factor I was quoting was bearing mind the probably hundreds of victims I met, or was aware of, when I was a police officer for 30 years in UK. As far as I remember, it was never going to happen to them either. But it did make their loss any easier to accept.

100's of victims over 30yrs out of millions of people ?
that is true, but I've never been mugged nor has anyone in my family in the UK, and i only know of a couple of people who have, yes the risk is there, but how big is that risk ?

thou my misses aunt has been threatened with a knife a couple of times in the phils :angry:

i suppose you don't realise the risk until its happened to you and your a victim but then its too late :doh

[johncar54]

100's of victims over 30yrs out of millions of people ?
that is true, but I've never been mugged nor has anyone in my family in the UK, and i only know of a couple of people who have, yes the risk is there, but how big is that risk ?

i suppose you don't realise the risk until its happened to you and your a victim but then its too late :doh

Just following your numbers argument. 100s means very many but then I am one person. 120,000 police in UK, average service 30 years each that might be a very, very big number.

Sorry I don't want to get into an argument over this but from my police experience in UK and another 16 years as a volunteer translator in Spain, I can assure you it is very real possibly.

And 6ft 3ins does not deter pickpockets only muggers.


Quote:- Daily Telegraph Pickpocket thefts and bag snatches rose 25 per cent between 2007/8 and 2008/9, the British Crime Survey has shown.

[terenchion]

With all due respect. we are not interested in how long you were in the police or anything to do with theft or any other patronising statements.... the question was why cant 10000 dollars be taken out of phily each if your with your wife... Thats 2 people regardless if they married, single, divorced, gay, lesbian, or what ever.......You obviously dont have a clue to the answer, so maybe let others answer if they know..... thank you.....:omg:

[johncar54]

(I will ignore the phrase ' with all due respect' as it usually means one is about to ignore any idea of showing respect. I note you are not an exception to that rule.)

To split hairs, the ORIGINAL question opening this thread was not 'why can't 10,000 dollars be taken out of Philippines (by) each if your (your are) with your wife.' But 'How much money can I bring into the Phillppines?'

However, as threads usually do, it had moved on to other matters, which, whilst maybe of no interest to you, obviously are to those who posted the questions. It was these members whom I was hoping to assist when I made my post. I always assume those, not interested in any particular post, will ignore them, without finding the need to 'jump and down' or throw a tantrum. But there are all sorts.

Quote .You obviously dont have a clue to the answer, so maybe let others answer if they know..... thank you..


I assume it's a relatively simple matter to either search the web or to send an email directly to the appropriate government department to obtain accurate info regarding importation or exportation. I did not comment on that aspect as I was, as you say, leaving it to thoses with first hand knowledge to do so.


PS Deanotherman, you asked:- How much money can I bring into the Philippines ?

You may find the definitive answer by contacting:-

Office of the Commissioner (of customs)
G/F OCOM Bldg., BOC, Port Area, Manila City
Telephone: (632) 527-4537 / 527-4573
email: BOCCommissioner@customs.gov.ph



PPS terenchion

You may also get the answer to your question there too, if you can bring yourself to asking a Customs Officer (whom you may think is similar to a police officer) the question !!



Good luck, John

[terenchion]

Yeah your right john...all due respect was just a cliche...... Do you ever take your uniform off???? Do you always make remarks so formal and stiff upper lip?? Your obviously not one with any humour.... I have no further questions, I rest my case........ :Wave:

[terenchion]

One more thing John, I doubt very much if you really mean GOOD LUCK...... just like my cliche eh???? :Wave:

[johncar54]

One more thing John, I doubt very much if you really mean GOOD LUCK...... just like my cliché eh???? :Wave:

No. I did really mean it. I try never to say anything I don't mean. Guess that's the product of 30 years of serving the public, and the 20 years since that I have given up my time as a volunteer translator (totally free, not even expenses) helping victims of crime and others, who have needed the assistance of the police here in Spain.

[terenchion]

Okay john ..... case closed now..... bieee.... adios amigo......:Wave:

[johncar54]

:Wave::Wave::Wave: