Currency Exchange Facility for OFWs from select countries

Accepts Kuwaiti Dinar, Iraqi Dinar, Israeli Shekel, and Turkish Lira only.
Each OFW is permitted to exchange a maximum total of Php 10,000 worth of these currencies in any combination.

Applicants must complete the prescribed Currency Exchange Facility Conversion Slip.
Small excesses beyond the Php 10,000 limit may be allowed to address challenges in providing change, computed to the nearest Php 10,000 equivalent.

AABs, especially those located at Philippine international airports, shall provide similar exchange services.
Branches at Ninoy Aquino International Airport 1 and 2, Clark, Subic, Laoag, Cebu, Davao, and Zamboanga airports are specifically designated.
These branches are encouraged to extend banking hours up to 24 hours to accommodate the arrival of OFWs.
Representatives from these branches must attend specialized seminars on currency authentication and counterfeit detection conducted by BSP.

Currency exchange must occur within seven (7) working days from the date of OFW’s arrival.
Services available at BSP Cash Department, its Regional Offices/Branches, and authorized banks.

BSP and AABs reserve the right to request presentation of passports or valid travel documents.
Travel documents should be issued and signed by the Philippine Embassy, stamped with the arrival date.
Documentary proof of the income source for the foreign currency may also be required.

AABs purchase foreign banknotes at BSP-set rates posted in the BSP Reference Exchange Rate Bulletin.
AABs must submit weekly consolidated reports of currency purchases to the BSP International Operations Department using a prescribed format.

Currency exchange transactions under this facility are excluded from the foreign exchange position of banks.

Officially adopted on March 19, 2003, as signed by the Officer-in-Charge of BSP.