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BSP limits cash withdrawals to P500k a day
The Freeman
|September 20, 2025
The Bangko Sentral ng Pilipinas (BSP) is implementing a new cash withdrawal limit of P500,000 per day in a move to curb money laundering risks involving large cash transactions.
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BSP Governor Eli Remolona Jr. issued on Thursday Circular No. 1218 directing all supervised financial institutions (BSFI) to implement “enhanced due diligence (EDD) on large value cash-related payments and transactions.”
Under the circular, a maximum of P500,000 or its equivalent in foreign currency may be withdrawn at once or via multiple transactions within one banking day.
The BSP said withdrawals exceeding the threshold shall only be processed via check payment, fund transfer, direct credit to deposit accounts or BSFI’s digital payment platforms.
Dit verhaal komt uit de September 20, 2025-editie van The Freeman.
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