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All CollectionsJurisdictional RequirementsAPAC
Philippines jurisdictional requirements
Philippines jurisdictional requirements
C
Written by Catarina Veloso
Updated over 10 months ago

In the Philippines Travel Rule requirements are set forth in Section 902-N of the Manual of Regulations for Non-Bank Financial Institutions (MORNBFI) as amended by the Monetary Board Resolution No. 78 dated 21 January 2O21 and further clarified in Memo 2023-042 of the Central Bank ("Regulations").

Threshold

Amount

Currency

Source

50,000.00

PHP

Regulations, p.6

Required Originator and Beneficiary information vs Notabene system

Party to the TX

Required information (*)

IVMS field

Required < Threshold?

Required > Threshold? (**)

Originator

Name

name

Yes

Yes

Originator

Account number used to process the transaction

accountNumber

Yes

Yes

Originator

Physical (geographical) address

geographicAddress

No

OR

Originator

National identity number

nationalIdentification

No

OR

Originator

Customer identification number

customerIdentification

No

OR

Originator

Date and place of birth

dateAndPlaceOfBirth

No

OR

Beneficiary

Name

name

Yes

Yes

Beneficiary

Account number where such an account is used to process the transaction

accountNumber

Yes

Yes

(*) According to Regulations, p. 7

(**) YES = Required ; OR = Alternative fields

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