The Bangko Sentral ng Pilipinas (BSP) has issued a new regulation capping daily over-the-counter cash withdrawals at Php 500,000 per depositor, aiming to curb money laundering, terrorism financing, and proliferation financing risks in the Philippine banking system. Cash withdrawals above the cap are only permitted if the depositor submits proof of legitimate business necessity and the bank conducts enhanced due diligence (EDD). Read more in our articles including "BSP limits cash withdrawals to Php500,000 per depositor" and "Apple Pay launches in the Philippines".
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Jul 30, 2026The Bangko Sentral ng Pilipinas (BSP) has issued a new regulation capping daily over-the-counter cash withdrawals at Php 500,000 per depositor, aiming to curb money laundering, terrorism financing, and proliferation financing risks in the Philippine banking system. Cash withdrawals above the cap are only permitted if the depositor submits proof of legitimate business necessity and the bank conducts enhanced due diligence (EDD).
Our coverage of Depositor protection includes: "BSP limits cash withdrawals to Php500,000 per depositor"; "Apple Pay launches in the Philippines"; "GCash will soon let users link Visa, Mastercard cards directly for QR payments". Each article provides unique insights and information.
Our article "BSP limits cash withdrawals to Php500,000 per depositor" published on September 20, 2025 covers the latest information about Depositor protection. Check it out for the most current details.