Large Cash Withdrawals
ADVISORIES
3/12/2026
The Bangko Sentral ng Pilipinas (BSP) has raised the threshold amount for cash withdrawals that require additional document requirements from ₱500,000 to ₱1 million. This will help reduce operational friction for legitimate banking transactions such as loan releases and payroll while keeping adequate anti-money laundering safeguards in place.
The additional requirements are part of the enhanced due diligence (EDD) originally established in September 2025 under BSP Circular 1218 to help fight money laundering.
The revised rules under BSP Circular 1230 will take effect on 18 March 2026.
Refer to the FAQs below for clarifications.
Got more questions? Get in touch with your branch of account at these contact numbers.
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Luzon Development Bank is a supervised bank by the Bangko Sentral ng Pilipinas with telephone number (02) 8811-1277 and email address at consumeraffairs@bsp.gov.ph.
