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Bringing Dollars into the Philippines

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SonofBaraka
  8/16/2015 03:54 EST

I'm getting conflicting advice about how many U.S., dollars I can hand carry into the Philippines. One guy says unlimited, but over $10,000 I have to declare, possibly with document, such as agreement to purchase property. Another guy says only $10,000 can you hand carry. No more.

pdronen
  8/16/2015 07:18 EST

any amount but any over 10,000 must be declared however it is not prudent to carry large sums of cash

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pdronen
  8/16/2015 07:18 EST

any amount but any over 10,000 must be declared however it is not prudent to carry large sums of cash

wilbur043
  8/16/2015 07:55 EST

There is no limit by the Philippines government you can carry into the country. The U.S. government requires you report any amount over $10,000 you carry out of the country. Failure to do so can result in your arrest and seizure of the money. Good luck getting it back!
Carrying that much cash is foolish. You can send yourself money until you get a Philippines bank account by numerous money transfer sites such as Western Union, MoneyGram, or Xoom. Once you get a bank account here, you can either wire transfer money into your bank account, write a check to yourself and deposit it, or use money transfer sites to send money directly into your bank account.
Also, if at any time, you have $10,000 or more in a foreign bank account such as the Philippines you need to report that to the IRS. There is much information on transferring money and reporting a foreign bank account in previous forum topics.

SonofBaraka
  8/16/2015 08:27 EST

Does declare merely mean you check the amount on the form and then walk? BTW, we are addressing the carrying large sums issue, probably by preparing a money order or cashier's check for the carrier...

Nephi
  8/16/2015 13:50 EST

Yes that is correct. However, these govt employees (Immigration and customs) are well trained and have much experience. If they suspect more money or anything else may be being carried into the country they will inspect. They will do this at random also. It is not worth trying to slip anything in when coming to a foreign country. Remember, your home country do no apply here-period.. Also, just so you know; travelers checks and money orders are generally not accepted or usable anywhere including hotels etc. Banks also will not accept them..

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Nephi
  8/16/2015 13:51 EST

Should read: your home country Laws etc...

CAteacher
  8/16/2015 14:19 EST

Thank you for your contribution Nephi

trappedinhell
  8/17/2015 01:53 EST

When leaving the US airport, the airline usually hands you a currency declaration form. If you write down $9,999 or more, the US Border & Customs Agents will be all over you. Philippine airport authorities won't check how much you're bringing in. But you don't need to bring that (10,000) much amount - bad idea.
Just bring about 7 - 8 in cash, plus your check book. Use your checkbook or some of your cash to open a dollar account (BPI is a good Philippine Bank). Then do an online transfer from your US bank to your Philippine account to replenish your funds. This would cost you a bit - US wire transfer (from your US bank) & your Philippine bank's "cut" or commission. Best is to write yourself a check and deposit it to your $ account (no charges here). BUT "clearing" your wire transfer or check deposit takes about 30 days in Philippine banks, so factor this in too if you need the money pronto.

Nephi
  8/17/2015 02:22 EST

Good information. I remember I opened an account back before the ACR card was around. This was at PNB and I had to wait 60 days for clearing before I could access the funds.
What a lot of guys do now to get by until a check clears, is before leaving home, use Xoom and send a few larger amounts to yourself and simply pick them up one by one here. Either that or have a trusted friend or family member send cash to you upon your request from here.


Nephi

Nephi
  8/17/2015 02:24 EST

Hi CA, welcome--It's been a while since I posted over here. I've read a lot of the posts but hadn't posted.


Nephi

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