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tokyoman

Do NOT bring more than 10,000 pesos into the country!

46 posts in this topic

Ok, there are lot of silly laws but this one has to take the cake!

 

It is illegal to bring more than 10,000 pesos (in pesos of course) into the PHIL.

 

They want us to bring foreign currency in  and convert it into Pesos .

 

When I questioned this at Manila customs on entering the country the customs officer comment was "YES,THIS IS  INSANE " but

you must follow our laws , Sir.

 

 

 

 

 

 

XBroker and meylou like this

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are you sure its not 10 000 usd 

as that is standard at least where i have travel 10 000 usd is a max or any currency that will in total make up 10 000 usd 

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are you sure its not 10 000 usd 

as that is standard at least where i have travel 10 000 usd is a max or any currency that will in total make up 10 000 usd 

I believe it is against the law to take more than P10,000 in Philippine currency in OR out of the Philippines.

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I didn't know about this rule when I brought in about p17,000 as emergency money, my first trip overseas, and I hadn't confirmed that my new ATM cards worked out of the country.  I ticked the form saying that I had more than 10,000, wasn't sure what to do, but decided that honesty was the best policy.  Looked around for a money changer before immigration (as is the case in Singapore) but there wasn't any.

 

Upon getting to customs, I was very apologetic, but the lady was quite nice about it, there wasn't any issues.  I wouldn't recommend anyone do this, just use another currency (less than $US10,000) and take the conversion hit.

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lol now that is funny 

what are you to do with 10 000 pesos 

get a lunch and go back home where you come from lol 

http://www.tourism.gov.ph/sitepages/customs.aspx

 

CURRENCY REGULATIONS

 

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.

XBroker and CebuKano like this

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Really, this topic should be pinned.  

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I didn't know about this rule when I brought in about p17,000 as emergency money, my first trip overseas, and I hadn't confirmed that my new ATM cards worked out of the country.  I ticked the form saying that I had more than 10,000, wasn't sure what to do, but decided that honesty was the best policy.  Looked around for a money changer before immigration (as is the case in Singapore) but there wasn't any.

 

Upon getting to customs, I was very apologetic, but the lady was quite nice about it, there wasn't any issues.  I wouldn't recommend anyone do this, just use another currency (less than $US10,000) and take the conversion hit.

 

You were very lucky that you did not have to surrender the excess amount.  I heard many stories of people having to pay fine (meaning bribe) for bringing in more than P10,000.  Interestingly the fines were usually the amount above the P10,000 so in your case you would have been hit with P7,000 fine.

 

I know it is stupid (nothing new since this is PI afterall) but you can bring in $10,000 USD but in pesos you can only bring in $250 (P10,000).

 

 

seaman

the.lone.gunman likes this

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That really slows down the guy who just printed 10 million pesos on his fancy foreighn printing press. 

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I have personally known people who have brought in considerably more than $10,000 USD in currency, into the Philippines.

 

I have personally known people who have brought in considerably more than Php 10,000 into the Philippines. 

 

Personally, I wouldn't take more than either limit allows into the country, ever. I would advise anyone else to follow suit. 

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