EMBASSY OF THE REPUBLIC
OF THE PHILIPPINES


SEOUL REPUBLIC OF KOREA

Announcements And Advisories

BANGKO SENTRAL NG PILIPINAS (BSP) ADVISORY ON THE CROSS BORDER TRANSFER OF LOCAL AND FOREIGN CURRENCIES


The Embassy of the Republic of the Philippines in Seoul informs Philippine residents and non-residents of the advisory issued by the Bangko Sentral ng Pilipinas (Central Bank of the Philippines) on 16 July 2018 regarding BSP regulations on the Cross-Border Transfer of Local and Foreign Currencies.

For local currency, any individual (either Philippine resident or non-resident) is allowed to bring into or take out of the Philippines up to PHP50,000 without prior written authorization from the BSP. In excess of this amount, prior BSP written authorization should be secured.
The BSP allows cross-border transfer of local currency in excess of the limit of PHP50,000 only for the following purposes:

1. For testing/ calibration of money counting/ sorting machines; and
2. For numismatics (collectors of currency)/ educational purposes

For foreign currency, there is no quantitative restriction as to the amount of foreign currency as well as other foreign currency-denominated bearer monetary instruments (such as travelers' checks, other checks, drafts, notes, money orders and bonds) that may be brought into or taken out of the Philippines.

However, if the amount exceeds US$10,000 or its equivalent in other foreign currency, this must be declared in writing (with information on the source and purpose of the transport of such currency or monetary instrument) using the Bureau of Customs' (BOC) prescribed Foreign Currency and Other Foreign Exchange-Denominated Bearer Monetary Instruments Declaration Form. The BOC declaration form is available at the BOC desk at the arrival/departure areas of all international airports and seaports in the Philippines. END

Other Announcements And Advisories


May 28, 2025
HOLIDAY NOTICE FOR JUNE 2025

The Embassy will also conduct temporary offsite consular services on 08 June 2025 (Sunday) in Daegu in view of the special celebration of the 127th Philippine Independence Day and the 30th Migrant Workers Day for the Filipino Community in South Korea

Read More
May 27, 2025
2025 MIGRATION ADVOCACY AND MEDIA (MAM) AWARDS

The Commission on Filipinos Overseas (CFO) is pleased to announce that nominations to the 2025 Migration Advocacy and Media (MAM) Awards is now OFFICIALLY OPEN. The Award categories include Print Journalism Award, Radio Journalism Award, Television Journalism Award, Film Media Award, Interactive Media Award, Advertisement Award, and Media Advocate Award. Media entries and advocates should have raised public awareness on migration issues, advocated the cause of and promoted a positive image of Filipinos overseas.

Read More
May 22, 2025
VISIT THE PHILIPPINES AT THE SEOUL FRIENDSHIP FESTIVAL 2025, 24-25 MAY 2025

ANNOUNCEMENT: Everyone is invited to the Seoul Friendship Festival 2025 at Dongdaemun Design Plaza this 24 to 25 May 2025. Visit the Philippine booths at the World Embassy Zone and World Food Zone to experience Philippine culture, food, fun games and prizes.

Read More