If the BSP CIIO certifies that the foreign bank notes are counterfeit, the same shall be destroyed and the customer who presented it for exchange shall bear the loss. VILLARICA and its employees shall be presumed to have acted in good faith under this policy. Villarica and its employees will not return any suspected counterfeit foreign bank notes until the same is cleared by the BSP CIIO. Customer details and the details of the transaction will be recorded for use in any investigation or reports which may be required. The customer shall be given a document stating that his/her bank note is suspected to be fake and will be submitted to the BSP CIIO for verification. Villarica and its employees have the right to confiscate any foreign bank notes which its personnel suspect to be counterfeit, for submission to the Bangko Sentral ng Pilipinas (BSP) Currency Issue and Integrity O ffi ce (CIIO). RIGHT TO CONFISCATE SUSPECTED FAKE BANK NOTES. VILLARICA and its employees shall not be liable for refusal of this nature. VILLARICA reserves the right to refuse a foreign exchange transaction when, in its sole discretion, it determines that the bill is not acceptable or demonetized. Only banknotes which, in the VILLARICA personnel’s sole discretion, are acceptable and not demonetized will be considered for exchange. The customer allows VILLARICA personnel to check the validity and authenticity of the bank notes.
Customers should understand, consent to, and check the foreign exchange computation at the counter before the Villarica personnel gives the equivalent amount in pesos. The foreign exchange rates applicable for the day may change without prior notice. Money changing transactions may only be done face to face and over the counter at regular business hours at any VILLARICA branches all over the Philippines (unless there is closure of VILLARICA branches with or without prior notice), subject to power and telecommunications failure, computer, gadgets, and connectivity failure, and inclement weather, and the like.įOREIGN EXCHANGE RATES AND COMPUTATION. They shall not be liable for refusal of this nature.įACE TO FACE TRANSACTIONS. Villarica and its employees reserve the right to refuse to accept any foreign exchange transaction which in their sole discretion, may be in violation of AML-TFP laws, rules, or regulations, or other applicable laws. Questions and additional documents may be requested from customers in compliance with KYC rules. A picture of the customer and his/her ID shall also be taken. As part of KYC, customers with relevant business transactions are required to fill out a Customer Information Sheet (CIS) and present a valid ID.
#Singapore dollar to php manual#
Updated Compliance Manual on Money Laundering and Terrorism Financing Prevention Program (MTPP).Īll parties and transactions under VILLARICA Money changer are subject to MTPP laws and Villarica policies, including Know Your Customer (KYC) requirements. Money exchange services are provided at selected VILLARICA branches nationwide. VILLARICA is a company that runs a money exchange business.
0 kommentar(er)
