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musicman666

How much cash can I carry out through customs?

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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
Posted (edited)
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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RedRanger

I always carried about 30000 peso in and out of Philippines back when it  was 10K limit, never had an issue.

I would have no issue toting more than 50K peso now of day, but the issue is putting the money in your wallet you get 50k peso and you can't close you wallet. 

Raising the limit to 50k was a good choice and makes a lot more sense.

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Salty Dog

The last time I left the Philippines I took something with me that was priceless.

They didn't so much as give her a second look when we went through Customs...:P

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Davaoeno
18 minutes ago, Salty Dog said:

The last time I left the Philippines I took something with me that was priceless.

They didn't so much as give her a second look when we went through Customs...:P

It seems that Salty's wife is reading Linc again ! 

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SkyMan
5 hours ago, Davaoeno said:

It seems that Salty's wife is reading Linc again ! 

Maybe she's posting for him.

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