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ARMED FORCES AND POLICE SAVINGS & LOAN ASSOCIATION INC. (Authorized by the Bangko Sentral ng Pilipinas) AFPSLAI Building, Capinpin Avenue, Camp General Emilio Aguinaldo EDSA, cor Col Bonny Serrano.

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  3. Provide your Social Security System (SSS) or Government Service Insurance System (GSIS) number, Tax Identification Number (TIN), and nationality. Include your mother's maiden name and complete your current home address.
  4. Fill in your permanent address. Ensure all information is accurate, including your telephone and mobile numbers, and email address.
  5. For associate members, list the name of the regular member you are associated with and your relationship to them.
  6. In the service/employment information section, describe your branch of service, rank, position, personnel classification, and other relevant employment details.
  7. Enter your complete office or employer’s business address, unit assignment, and office telephone number.
  8. Provide your occupation, nature of work, date of appointment, retirement date, and source of income.
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Any excess amount not covered by specific written BSP authorization is subject to confiscation by the Philippine Bureau of Customs. A person may carry up to the amount of USD 10,000 (or equivalent in any other foreign currency), in cash or other monetary instruments, into and out of the Philippines.

You should be able to send up to $19,000 as a remittance to the Philippines. However, your personal daily limit will depend on the service you choose and your transfer history.

Due from Bangko Sentral ng Pilipinas (BSP) – This refers to the amount of receivable from BSP. Funds that may be set aside and used as compliance for regulatory requirements shall also be classified under this account.

Bringing of Philippine Peso into or out of the Philippines A person may freely bring into or take out of the Philippines, or electronically transfer, legal tender Philippine currency and other monetary instruments in amounts up to PHP50,000.

Demonetized. This category houses old Peso notes no longer in circulation. Any old bills or coins other than New Generation Currency or the BSP Series are not up for redemption.

Currency Regulations The transportation of foreign currency or monetary instruments is legal. However, the carrying of foreign currency in excess of US$10,000.00 or its equivalent in other foreign currencies must be declared to a Customs Officer or the Bangko Sentral ng Pilipinas.

Personal international remittances send to the Philippines are tax free. Domestic remittances and international business remittances are subject to taxes.

The Bangko Sentral has supervision over the operations of banks and exercises such regulatory powers as provided in the New Central Bank Act and other pertinent laws over the operations of finance companies and non-bank financial institutions performing quasi-banking functions.

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