Bringing Currency into the Philippines - Embassy of the Philippines in Singapore (2024)

FAQs

How much cash money can I bring to Philippines? ›

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.

Currency Regulations

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.

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.

Currency Exchange in the Philippines

You will find money changers all over the Philippines – US dollars are the most useful foreign currency to bring as they are the most widely accepted currency (especially in non-touristy areas).

(1) A single transaction involving an amount in excess of Four million Philippine pesos (Php4,000,000.00) or an equivalent amount in foreign currency based on the prevailing exchange rate where the client is not properly identified and/or the amount is not commensurate with his business or financial capacity.

Members of a family dwelling in the same home who enter the United States on a joint or family declaration must report on their Customs Declaration Form if they carry money or monetary instruments totalling more than $10,000. Individual members carrying more than $10,000 must then complete a Members FinCEN Form 105.

The criminal consequences of failing to report cash are severe. Failing to make a report or making an inaccurate report by omitting or misstating a material fact in a report includes not only forfeiture of the money, but a fine ranging from $250,000 to $500,000 and jail time from 5 to 10 years.

If you are entering or leaving Singapore carrying a total value of Physical Currency and Bearer Negotiable Instruments (CBNI)* exceeding S$20,000 (or its equivalent in a foreign currency), you are required by law to submit a full and accurate report to the Singapore Police Force.

CUSTOMS DECLARATION

All arriving travellers must accomplish a Customs Baggage Declaration Form (CBDF) which will be submitted to the assigned Customs Officer at the customs arrival area for clearance. Arriving passengers are required to declare all goods carried/brought, indicating the quantity and value.

Is 10,000 pesos (€180) enough to live a standard life in the Philippines? - Quora. You'd actually be very well off compared to most people, especially since that PHP10, 000 is pretty much just allowance.

How much cash you can bring in airport Philippines? ›

Residents and Non-residents: local currency (Philippine Peso-PHP): up to PHP 10,000. -. Exceeding amounts require an authorisation from the Central Bank of the Philippines. foreign currencies : up to USD 10,000.

A person may freely bring into or take out of the Philippines foreign currency and other bearer monetary instruments (e.g., travelers' checks, other checks, drafts, notes, money orders, bonds) in amounts up to USD10,000 or its equivalent in other foreign currencies.

It depends on how you plan to use the money and your personal circ*mstances. $100 USD is equivalent to about 5,000 Philippine pesos, which is a significant amount of money in the Philippines. It could be enough to cover expenses for a week or more, depending on your budget.

If you are alone and you are frugal, you can live decently in Metro Manila with that amount, US$500, you can save US$150. With a wife at home (non-working) and two children in public school, US$500 will suffice. In a provincial town, you will be spending lesser. In a barrio, you are a datu with that amount.

A person may freely bring into or take out of the Philippines foreign currency and other bearer monetary instruments (e.g., travelers' checks, other checks, drafts, notes, money orders, bonds) in amounts up to USD10,000 or its equivalent in other foreign currencies.

All in all, carrying some cash in pesos is essential when you're in the Philippines. You'll be able to convert some money before you travel if you'd like, or carry AUD for converting on arrival.

How Much Cash Can You Fly With? If you are traveling on an international flight and have more than $10,000 in your possession, you must disclose the amount of U.S. Currency in your possession on a FinCEN 105 form. On a domestic flight, no rule requires you to disclose carrying $10,000 or more on the flight.