The Bangko Sentral ng Pilipinas (BSP) informs the public that the legal tender limit of Philippine coins per transaction has been increased under BSP Circular No. 1162, Series of 2022,1 to further promote the use of coins in payments and other cash transactions.
The circular states that 1-, 5-, 10-, and 20-Piso coins should be accepted as payment or change for amounts not exceeding Two Thousand Pesos (PHP2,000.00); and 1-, 5-, 10-, and 25-Sentimo coins for amounts not exceeding Two Hundred Pesos (PHP200.00) per transaction. These are increases from the previous limits of One Thousand Pesos (PHP1,000.00) and One Hundred Pesos (PHP100.00), respectively.
The coins may be used and accepted in amounts higher than the legal tender limits stipulated by the circular, provided that both payer and payee mutually agree to transact using quantities of coins above said limits.
The central bank encourages the public to use and accept coins in cash transactions to promote the efficient recirculation of coins in the country. All denominations of the BSP Coin Series2 and the New Generation Currency Coin Series3 are legal tender and should be accepted as payment for goods and services. These are the 1-, 5-, 10-, and 25-Sentimo coins and the 1-, 5-, 10-, and 20-Piso coins.
1 Download BSP Circular No. 1162, Series of 2022 at https://www.bsp.gov.ph/Regulations/Issuances/2022/1162.pdf
2 For more details on the BSP Coin Series, visit https://www.bsp.gov.ph/SitePages/CoinsAndNotes/BSPCoinSeries.aspx
3 For more details on the New Generation Currency Coin Series, visit https://www.bsp.gov.ph/Pages/CoinsAndNotes/Coins/NewGenerationCurrencyCoinSeries.aspx
