- Big news for depositors and business owners! The BSP has raised the cash withdrawal limit that triggers extra bank requirements from ₱500,000 to ₱1 million.
- The old rule required Enhanced Due Diligence (EDD), meaning your bank could ask for extra documents or verification for any cash withdrawal above ₱500,000.
- Under the new BSP Circular No. 1230, Series of 2026, that threshold has been doubled to ₱1 million.
Big news for depositors and business owners! The BSP has raised the cash withdrawal limit that triggers extra bank requirements from ₱500,000 to ₱1 million.
The old rule required Enhanced Due Diligence (EDD), meaning your bank could ask for extra documents or verification for any cash withdrawal above ₱500,000.
Under the new BSP Circular No. 1230, Series of 2026, that threshold has been doubled to ₱1 million.
The BSP found that many legitimate transactions like payroll, loan proceeds, and business disbursements were regularly exceeding the old limit.
The update streamlines those transactions while keeping safeguards in place for higher-risk activity.
The EDD is based on your profile as a customer, not on every single withdrawal.
So if large withdrawals are normal for your account, your bank already knows that.