Listen up, high rollers. The Commission on Elections released a resolution on Tuesday that will restrict banking transactions from May 8 to 13 in an effort to discourage vote buying.
According to the text of the resolution that Comelec chairman Sixto Brillantes Jr. released on his Twitter account, withdrawals or encashments exceeding P100,000 on election day and the day leading up to it will be prohibited. That prohibition covers banks, “finance companies, quasi-banks, pawnshops, remittance companies and institutions performing similar functions.” Non-cash transactions will be allowed, however.
The resolution also prohibits transporting or carrying more than P500,000 or its equivalent in foreign currency from May 8 to 13. “For this purpose, all cash being transported and carried exceeding such amount shall be presumed for the purpose of vote-buying and electoral fraud in violation of the money ban,” the Comelec said.
Checkpoints will be put in place to enforce the “money ban” as well as the existing gun ban. The Comelec has previously announced a liquor ban from Thursday until the end of Election Day.
–Photo: Bangko Sentral ng Pilipinas
