The
Bangko Sentral ng Pilipinas (BSP) increased
the allowable amount for overseas Filipino workers (OFW) for the replacement
and/or exchange of new design series (NDS) banknotes in their possession that
could not be physically exchanged from January 1, 201 6 to December 31, 2o16.
From P10,000, the BSP
increased the threshold to P50,000 following the Monetary Board’s approval on
September 8,2016.
Those who would avail of this
however need to register their NDS banknote holdings at https://orbs.bsp.gov.ph starting 1
October 2016 to 31 December 2016. The overseas Filipinos will have one year
from their registration date to present their original passport and printed
confirmation notice to any BSP office for the processing of the NDS exchange.
Filipinos deployed to
countries experiencing geopolitical crisis during the registration period
(i.e., 1 October 2016 to 31 December 2016) who may not be able to register
their NDS banknote holdings need only to present their original passport with
exit stamp by authorities from war-torn countries and/or authorities from other
countries that served as exit points for repatriation
to any BSP office for processing from 1 January
2017 until 31 December 2017, subject to the P50,000 limit for each OFW.
All NDS banknote holdings
submitted for exchange shall be subject to the usual piece by piece
verification. For further inquiries, please contact the BSP through CIIOhelpdesk@bsp.gov.ph.
I had mixed feelings about using Fast Passport. While their expedited service lived up to its name and got me my passport quickly, the fees were quite steep. It's definitely worth it if you're in a rush, but if you have more time to spare, you might want to consider other options to save on costs.
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