BSP Supports the Rollout of eTravel Customs System and Reminds the Strict Implementation of FX Rules on Cross-Border Transfer of Currencies

The Bangko Sentral ng Pilipinas (BSP) supports the efficient roll-out of the eTravel Customs System in all international airports.

The eTravel Customs System enables all arriving and departing travelers to fill-out the electronic Customs Baggage Declaration Form (e-CBDF) and electronic Currencies Declaration Form (e-CDF) using the eTravel website at https://etravel.gov.ph/ or by downloading the eGovPH application within 72 hours [three (3) days] prior to arrival into or departure from the Philippines.

The BSP would also like to remind the general public on the strict implementation of the following rules on cross-border transfer of currencies provided under Section 4 of the Manual of Regulations on Foreign Exchange Transactions (FX Manual), as amended:

a. Any person, who brings into or takes out of the Philippines foreign currency, in excess of USD10,000 or its equivalent in other foreign currencies is required to declare the whole amount brought into or taken out of the Philippines using the e-CDF.

b. For Philippine currency, a person may bring into or take out of the Philippines an amount not exceeding PHP50,000. Amounts in excess of the limit shall require: (a) prior written authorization from the Bangko Sentral ng Pilipinas (BSP); and (b) declaration of the whole amount brought into or taken out of the Philippines in the e-CDF. The BSP, however, allows cross-border transfer of local currency in excess of the limit only for the following purposes: (a) testing/calibration/configuration of money counting/sorting machines; (b) numismatics (collection of currency); and (c) currency awareness.

The BSP urges all travelers to fully comply with these requirements to ensure seamless international travel clearance.