The Bangko Sentral ng Pilipinas (BSP) has expressed its support for the implementation of the eTravel Customs System in all international airports across the Philippines.
This new system aims to streamline the process for travelers, allowing them to complete the electronic Customs Baggage Declaration Form (e-CBDF) and the electronic Currencies Declaration Form (e-CDF) online. These forms can be accessed via the eTravel website or through the eGovPH application, and should be filled out within 72 hours prior to arrival or departure.
In conjunction with this initiative, the BSP reminds the public about the rules regarding the cross-border transfer of currencies as specified in Section 4 of the Manual of Regulations on Foreign Exchange Transactions (FX Manual).
Travelers bringing in or taking out more than $10,000 or its equivalent in other foreign currencies must declare the entire amount using the e-CDF.
Individuals are allowed to carry up to P50,000 into or out of the country. For amounts exceeding this limit, travelers must obtain prior written authorization from the BSP and declare the total amount in the e-CDF. The BSP permits the transfer of local currency beyond this threshold solely for specific purposes such as the testing of money machines, numismatics, and currency awareness.
The BSP emphasizes the importance of adhering to these regulations to facilitate a smooth and efficient travel clearance process for all international travelers.