Bangko Sentral ng Pilipinas

Legal tender Philippine notes and coins, checks, money order and other bills of exchange drawn in pesos against banks operating in the Philippines in an amount exceeding PHP10,000

  • Legal Basis
  • Import Permit / Clearance / Certification
  • Importation
  • Contact

Legal Basis is given to the Bangko Sentral ng Pilipinas to regulate this commodity via Section 4 and Appendix 2 of the Manual of Regulations on Foreign Exchange Transactions.

Authorization letter from the Bangko Sentral ng Pilipinas (BSP). See sample here.

Documentary Requirements Procedure Lead Time Processing Fee

A formal request for importation of more than PHP10,000 indicating, among others:

  1. 1. The total peso amount to be remitted with breakdown;
  2. 2. Source of the pesos and purpose of the transport of currency;
  3. 3. Mode of transporting the currency (whether to be sent as unaccompanied baggage or to be brought by a representative); and
  4. 4. Name of the person with identification papers who will bring the money, as may be applicable.
  1. 1. Applicant submits a formal request to BSP prior to importation.
  2. 2. BSP checks documents and information.
  3. 3. Upon resolution of issues (if any), the BSP issues an authorization letter.

Within five (5) banking days from complete submission of documents and information and resolution of issues (if any)

None

Contact Positon Contact Details
Roberto B. Quintos, Deputy Director – International Operations Department, BSP Tel. No. 306-2540
Fax No. 306-3091

Foreign currency as well as other foreign currency-denominated bearer monetary instruments2 in excess of USD10,000 or its equivalent

2 Other foreign currency-denominated bearer monetary instruments shall refer to the following foreign exchange-denominated instruments in bearer form whereby title thereto passes to another by endorsement, assignment or delivery: travelers’ checks, other checks, drafts, notes, money orders, bonds, deposit certificates, securities, commercial papers, trust certificates, custodial receipts, deposit substitute instruments, trading orders, transaction tickets and confirmation of sale/investment.

  • Legal Basis
  • Import Permit / Clearance / Certification
  • Importation
  • Contact

Importation is neither regulated nor prohibited but only requires written declaration using the prescribed form which is available at Bureau of Customs desks in international airports. See sample here.

Documentary Requirements Procedure Lead Time Processing Fee

NA

NA

MA

NA

Coin of precious metal other than gold and of non-precious metal not being legal tender, Coin blank essentially of gold, Coin blank essentially of steel, Coin blank essentially of copper, Coin blank essentially of nickel, Coin blank essentially of zinc, Coin blank essentially of tin, and Coin blank essentially of aluminum.

  • Legal Basis
  • Import Permit / Clearance / Certification
  • Importation
  • Contact

Legal Basis is given to the Bangko Sentral ng Pilipinas to regulate this commodity via the Manual of Regulations on Foreign Exchange Transactions.

Clearance to import coin blanks from the Mint and Refinery Operations Department (MROD), BSP. See sample here.

Documentary Requirements Procedure Lead Time Processing Fee
  1. a. Application for Clearance to Import Coin Blanks (SPC Form No. AAA DDD);
  2. b. Photocopy of coin blank owner’s SEC or DTI certification of registration;
  3. c. Photocopy of the importer’s SEC or DTI certification of registration;
  4. d. Applicant’s authorization from the Corporate Secretary;
  5. e. Photocopy of applicant’s government issued ID with picture;

Additional requirements if clearance is granted:

  1. f. Photocopy of Bill of lading;
  2. g. Photocopy of commercial invoice;
  3. h. Photocopy of packing list; and
  4. i. Photocopy of Certificate of origin.
  1. 1. Prior to importation, owner of the commodity shall obtain clearance from the MROD-BSP to import coin blanks
  2. 2. Owner shall submit to MROD-BSP notarized application (SPC Form No. AAA-DDD), together with the listed required documents

3 banking days

None

Contact Positon Contact Details
The Director Mint and Refinery Operations Department, BSP Tel. No. 9884641
Fax No. 9262594