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musicman666

How much cash can I carry out through customs?

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musicman666

I know it’s a well asked question but these things seem to change on a regular basis to the point even the website might be wrong....   so is it still ten thousand usd and can it be in pesos equivalent?    Also can it be more as long as you declare it at the airport customs desk?  

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Woolf
11 minutes ago, musicman666 said:

I know it’s a well asked question but these things seem to change on a regular basis to the point even the website might be wrong....   so is it still ten thousand usd and can it be in pesos equivalent?    Also can it be more as long as you declare it at the airport customs desk?  

 

This should be the up to date information

https://www.philippine-embassy.org.sg/the-philippines-2/bringing-currency-into-the-philippines/

Quote

 

Bringing Currency into the Philippines

 

In compliance with international conventions against money-laundering, the Bangko Sentral ng Pilipinas (BSP) has regulations on the amount of currency that a traveller can carry into or out of the Philippines. The regulations are compiled in the Manual of Regulations on Foreign Exchange Transactions (FX Manual) issued by the Bangko Sentral.

Philippine Peso

A person may bring into (import) or take out of (export) the Philippines, either physically or by electronical transfer, legal tender Philippine currency of an amount not exceeding PHP 50,000 (fifty thousand pesos, Philippine currency) without prior authorization from the Bangko Sentral ng Pilipinas.  The monetary forms include legal tender Philippine notes and coins, checks, money order and other bills of exchange drawn in Philippine Pesos against banks operating in the Philippines.

The term “electronic transfer” as used above shall mean a system where the authority to debit or credit an account (bank, business or individual) is provided by wire, with or without a source document being mailed to evidence the authority.

The increase to PHP 50,000 in the allowable amount of Philippine currency brought in or out of the Philippines took effect on 15 September 2016, per Bangko Sentral ng Pilipinas Circular No. 922, series of 2016, dated 23 August 2016, titled “The Amendments of the Rules on Cross-Border Transfer of Local Currency”.

Any excess amount not covered by specific written BSP authorization is subject to confiscation by the Philippine Bureau of Customs.

Foreign Currency

A person may carry up to the amount of USD 10,000 (or equivalent in any other foreign currency), in cash or other monetary instruments, into and out of the Philippines. Other monetary instruments include travellers’ checks, other checks, drafts, notes, money orders, bonds, deposit certificates, securities, commercial papers, trust certificates, custodial receipts, deposit substitute instruments, trading orders, transaction tickets and confirmation of sale/investment.

If a person wishes to bring more that the equivalent of USD 10,000, a written declaration must be made in the form of the BSP’s “Foreign Currency and Other FX-Denominated Bearer Monetary Instruments Declaration Form” which may be downloaded from http://www.bsp.gov.ph/regulations/regulations.asp?type=1&id=631.

Rules on bringing Philippine of Foreign Currencies into or out of the Philippines

 

 

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BossHog
34 minutes ago, musicman666 said:

can it be more as long as you declare it

yes.

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Davaoeno

total currency- 10,000 usd   

 

  the limit on Php is 10,000 Php

 

neither of these has changed in a long time

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BossHog
4 minutes ago, Davaoeno said:

  the limit on Php is 10,000 Php

 

neither of these has changed in a long time

Don't think so mate. 50k for pesos now. 10k USD equivalent in total.

So for example, you'd be good carrying 50,000 pesos and 9,500 dollars without legally making a declaration.

Edited by BossHog
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Jawny
35 minutes ago, BossHog said:

Don't think so mate. 50k for pesos now. 10k USD equivalent in total.

So for example, you'd be good carrying 50,000 pesos and 9,500 dollars without legally making a declaration.

https://www.cbp.gov/sites/default/files/documents/CBP Form 6059B English (Sample Watermark).pdf

Pretty sure this would result in at least raised eyebrows if not confiscation?

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SkyMan
5 hours ago, musicman666 said:

Also can it be more as long as you declare it at the airport customs desk?  

You have to declare it with BSP. I think that has to be arranged before the flight. 

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Davaoeno
7 hours ago, Woolf said:

wrong

you should have read my post

read this:

http://www.bsp.gov.ph/downloads/regulations/attachments/2016/c922.pdf

50,000 is the new 10,000

8 hours ago, BossHog said:

Don't think so mate. 50k for pesos now. 10k USD equivalent in total.

So for example, you'd be good carrying 50,000 pesos and 9,500 dollars without legally making a declaration.

dont you mean 50,000 php and 9000 usd ??    hehe

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savarity

So it's a max of 50,000 in pesos, and also the TOTAL cash and cash equivalents has to be under $10,000 when leaving.

There's no limit on how much can be brought it though, right? Without declaring, I mean

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Davaoeno
7 minutes ago, savarity said:

There's no limit on how much can be brought it though, right? Without declaring, I mean

If you are leaving the US you need to declare anything over $10,000 usd

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savarity
If you are leaving the US you need to declare anything over $10,000 usd
Sure, the US.

But in regards to the Philippines, I don't think there is a limit on how much one can bring in?

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musicman666
3 hours ago, savarity said:

Sure, the US.

But in regards to the Philippines, I don't think there is a limit on how much one can bring in?

I think there is ...I’m sure I read somewhere quite recently some Koreans getting screwed at customs because even though there were two of them the money was in one bag so they were now over the limit. 

Edited by musicman666

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Woolf
3 hours ago, savarity said:

But in regards to the Philippines, I don't think there is a limit on how much one can bring in?

Please read the second post in this thread.  Note, it says  in/out

maybe it is a good idea to take the links provided

Quote

 

Foreign Currency

A person may carry up to the amount of USD 10,000 (or equivalent in any other foreign currency), in cash or other monetary instruments, into and out of the Philippines. Other monetary instruments include travellers’ checks, other checks, drafts, notes, money orders, bonds, deposit certificates, securities, commercial papers, trust certificates, custodial receipts, deposit substitute instruments, trading orders, transaction tickets and confirmation of sale/investment.

If a person wishes to bring more that the equivalent of USD 10,000, a written declaration must be made in the form of the BSP’s “Foreign Currency and Other FX-Denominated Bearer Monetary Instruments Declaration Form” which may be downloaded from http://www.bsp.gov.ph/regulations/regulations.asp?type=1&id=631

 

And also from second post

Quote

 

Philippine Peso

A person may bring into (import) or take out of (export) the Philippines, either physically or by electronical transfer, legal tender Philippine currency of an amount not exceeding PHP 50,000 (fifty thousand pesos, Philippine currency) without prior authorization from the Bangko Sentral ng Pilipinas.  The monetary forms include legal tender Philippine notes and coins, checks, money order and other bills of exchange drawn in Philippine Pesos against banks operating in the Philippines.

The term “electronic transfer” as used above shall mean a system where the authority to debit or credit an account (bank, business or individual) is provided by wire, with or without a source document being mailed to evidence the authority.

The increase to PHP 50,000 in the allowable amount of Philippine currency brought in or out of the Philippines took effect on 15 September 2016, per Bangko Sentral ng Pilipinas Circular No. 922, series of 2016, dated 23 August 2016, titled “The Amendments of the Rules on Cross-Border Transfer of Local Currency”.

Any excess amount not covered by specific written BSP authorization is subject to confiscation by the Philippine Bureau of Customs.

 

 

Edited by Woolf
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BossHog
9 hours ago, Davaoeno said:

dont you mean 50,000 php and 9000 usd ??    hehe

Of course you're right. I suck at math. 

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Jawny
7 hours ago, savarity said:

Sure, the US.

But in regards to the Philippines, I don't think there is a limit on how much one can bring in?

Crossing the border, either way, requires a declaration if currency is in excess of $10,000. The Bureau of Customs has a form which is used as a declaration form.  If exceeded, confiscation is possible.

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lamoe
5 hours ago, Woolf said:

Please read the second post in this thread.  Note, it says  in/out

maybe it is a good idea to take the links provided

And also from second post

 

Quote

A person may carry up to the amount of USD 10,000 (or equivalent in any other foreign currency), in cash or other monetary instruments, into and out of the Philippines.

'Amount' is a poor choice of words  - 'value' would have been more suitable? -  also it specifically mentions only foreign currency not PHP

Most laws are written by lawyers to allow interpretation - otherwise wouldn't need lawyers

The key word I believe is 'equivalent' - the Peso is the equivalent of the USD, Yen, Rupee, - it's market value fluctuates - right now it's 51.85 to the USD (checked different site 51.909 2 min?) - was 52.70 in May -  0.74 to the Rupee - if you tried to bring in or take out the exact equivalent value on any given day you could be under or over.

Try to explain that the P519,090 you want to bring in when you boarded flight is allowed if it dips lower

 

 

Edited by lamoe

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Dafey
9 hours ago, savarity said:

Sure, the US.

But in regards to the Philippines, I don't think there is a limit on how much one can bring in?

Soooo....you leave LAX to MNL with $9,999. Where did the excess $s come from? Are you gambling inflight?

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savarity
Soooo....you leave LAX to MNL with $9,999. Where did the excess $s come from? Are you gambling inflight?

Not all flights to PI originate from the US. Even if someone was coming from the US, with $100k, and that was declared on leaving, the point is, would it have to be declared on arrival in PI.

 

So anyway, I was just curious about the laws in PI (not the laws in the US), about how much can be brought in without a declaration, and that was answered above.

 

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SkyMan

Seems like there would be safer ways to get money here than trying to slip  past customs.

A note here I don't think has been mentioned is that the limit applies to a family and not just per person. 

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Daddle
8 hours ago, SkyMan said:

Seems like there would be safer ways to get money here than trying to slip  past customs.

A note here I don't think has been mentioned is that the limit applies to a family and not just per person. 

Surely nobody would report carrying $10,000 to PI customs. That tidbit of information would get to the airport curb faster than the passenger. Crazy. Bank wire is the way to go for large amounts. From the USA I have found sending in pesos much much better as the PI bank (PNB) gives the official exchange rate for large amounts. My US bank uses a criminal rate. That said, I may have had over the reporting limit amounts in my bag sometimes. Reported to US, not PI.

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Jawny

I’ve read many posts in LinC about members having difficulty opening a bank account. Commonly the lack of appropriate documentation such as an ACR card.  In these cases, getting a wire transfer may be difficult.  Hence, carrying large amounts of cash may be the simplest option. 

There's a risk that may be small, but it is still a risk, that a customs inspection will reveal the undeclared money in excess of $10,000. This is not just an inconvenience, but could result in the loss of the money.  

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Dafey
1 hour ago, Jawny said:

There's a risk that may be small, but it is still a risk, that a customs inspection will reveal the undeclared money in excess of $10,000. This is not just an inconvenience, but could result in the loss of the money.  

So if you don't declare and get caught...do they confiscate your money or fine you or just lock you up for 7 years waiting on a trial?

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Jawny

I understand the forfeiture (taking of the undeclared money) is a form of civil forfeiture.  I don’t know the legalities, but the impression I got from various reported instances was the money was seized, but no criminal charges filed.  Very likely a written warning is also given and if the traveler does this again, they may be blacklisted for failing to comply with border crossing requirements  

I haven’t filled out a customs declaration document in recent years, but I thought it included a declaration that if more than $10k was being carried, it had to be reported.  In effect, the traveler was advised of the risk.

Most of the reports I've heard of related to Chinese and Korean travelers who had large sums of cash and didn’t use banking transfers to bring money in for investments or various large ticket costs such as school tuition and such. 

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