Philippine central bank limits daily cash withdrawals, transactions to $8,750

Transactions beyond that must be done through traceable channels like cheques, and online transfers.

The Philippine central bank is limiting withdrawals and transactions to PHP500,000 (approximately US$8,750).

Large value transactions above this value (or its equivalent in foreign currency) must be conducted through “traceable” channels such as cheques, online fund transfers, direct credit to deposit accounts, or digital payments, the Bangko Sentral ng Pilipinas (BSP) announced online in 19 September 2025, under Circular No. 1219 series of 2025 issued on 18 September.

The same limit applies to cash transactions in equivalent foreign currencies.

The limit may be reached in a single transaction or series of transactions within one banking day, the BSP said.

BSP-supervised financial institutions are ordered to conduct “enhanced due diligence and, if warranted, file a suspicious transaction report” for withdrawals beyond the new limit.

Financial institutions may set even lower limits on large value cash transactions based on their risk assessment and the customer’s financial profile.

(US$1 = PHP57.14; as of 19 September 2025, Morningstar via Google)