Client Advisory: Regulation on Large Value Cash Transactions

Per BSP Circular No. 1230 series of 2026,

Large value payouts (e.g. withdrawals) of more than P1,000,000.00 or its equivalent in foreign currency, shall only be made, facilitated, or transacted through the following:

• Check Payment

• Fund Transfer

• Direct Credit to Deposit Accounts, and/or

• Other form using the Digital Payment Platform of the bank

In compliance with this, effective March 14, 2026, customers with large cash out transactions exceeding P1,000,000.00 will be required to present additional identification information and/or proof of a legitimate business purpose or transaction.