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bring 20k U.S. into phils


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woodchopper

apart from reporting it,,and the obvious security,,is there any reason 1 could not bring/carry that amount into phils?

 

any member done it?

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Davaoeno

I have [ more actually ]   .   At a stop in Korea I declared it and had to fill in forms, then on arrival in Cebu I declared it [ but no one asked me to sign anything]

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Ozepete

Why risk it?  Put the cash on a credit or debit card then just ATM what you need in the Phils.

Besides the idea of 'declaring' $20K at the border is something I wouldn't want to do cos you don't know what reception could be arranged for you once you hit the street!

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In today's world, I find it crazy to travel with that kind of money on your person. 

Personally, if you can afford to lose it, then knock yourself out and bring it on.

 

Otherwise, there is no way in hell I would carry that much cash with me.

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We will look forward to the newspaper article about stupid foreigner carrying 20k robbed in philippines. :)

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Monsoon

There is no legal issue. But I wouldn't want to advertise (ie declare) that I'm carrying significant cash.

 

People get killed in this country over 10,000 pesos.

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Aerosick

Just remember if you do this, it won't do any good to split it up among your traveling companions. The declaration is for all in your family or group, not individually.

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Monsoon

Just remember if you do this, it won't do any good to split it up among your traveling companions. The declaration is for all in your family or group, not individually.

That's the law when entering the U.S. I'm not so sure that is the case in the PI.

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Aerosick

That's the law when entering the U.S. I'm not so sure that is the case in the PI.

 

http://www.philippineconsulate.com.au/bringing-currency-into-the-philippines.html

 

BRINGING IN AND TAKING OUT OF FOREIGN CURRENCY IN EXCESS OF US$10,000.00

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.

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Monsoon

http://www.philippineconsulate.com.au/bringing-currency-into-the-philippines.html

 

BRINGING IN AND TAKING OUT OF FOREIGN CURRENCY IN EXCESS OF US$10,000.00

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.

Nothing you've cited here mentions the reporting requirement being inclusive of multiple persons in a family traveling together. In the case of how the law is applied in the U.S. there is extensive case law addressing what they call "structuring" to avoid the reporting requirements. Essentially making it unlawful to bring in $9,999 just to avoid the reporting.

 

Anyway, back to the Philippines. I have not read anything that it is cumulative amongst family members. Perhaps it is, but I haven't read case law saying so.

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