Regulation on Large Cash Value Transactions
Per BSP Circular No. 1230 series of 2026,
Large value payouts (e.g. withdrawals) of more than ₱1,000,000 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
Effective March 14, 2026, in compliance with this policy, customers with cash-out transactions exceeding ₱1,000,000 will be required to present additional identification information and/or proof of a legitimate business purpose or transaction.