BSP Raises Cash Withdrawal Limit From Php 500,000.00 To Php 1M

The Bangko Sentral Ng Pilipinas or BSP has raised the threshold for cash withdrawal from Php 500,000.00 to Php 1 million as they announced March 03, 2026.

BSP said on its official statement on March 03 that the threshold for cash withdrawal is raised from Php 500,000.00 to Php 1,000,000.00 per Circular 1230 issued February 27.

Depositors may now withdraw from their banks a limit of Php 1,000,000.00 per day conveniently, without needing to provide proof of legitimacy for the withdrawal.

Meanwhile, transactions of above Php 1,000,000.00 will require documentations from depositor”s corresponding banks.

BSP increases the limit to Php 1M after consultations showed large number of legitimate cash transactions over Php 500,000.00.

BSP said that the increase follows consultations with banks and industries, which showed a large number of legitimate cash transactions above its original threshold of Php 500,000.00, which covered payrolls, loans and projects disbursements.

It was in September 2025 hat the BSP has imposed a tight Php 500,000.00 cash withdrawal threshold to ensure that the financial system is not used for illicit activities.

With the increase, businesses need not to worry now for their daily need of cash for the operations.

Deposttors may further inquire with their banks for the daily cash limit.