Comelec To Impose Money Ban For The First Time

The Commission on Elections (Comelec) is set to impose a "money ban" for the first time.

Comelec To Impose Money Ban (NoypiStuff File Photo)

The government agency promulgated Tuesday the Comelec Resolution 9688 which bans cash withdrawals from banks exceeding Php100,000 a day.

Withdrawals above the said amount made through checks or wire transfers are allowed but conversions of monetary instruments to cash as well as encashment of checks are prohibited.

The resolution also prohibits the transporting and possession of P500,000 cash because this would serve as a presumption that the money would be used for vote buying.

Comelec Chairman Sixto Brillantes, Jr. said that all existing Comelec checkpoints will conduct "money ban" checks, in addition to the "gun ban". 

The said "money ban," which will be imposed from May 8 to 13, was mainly created to stop vote buying days before Election day, which with historical proof, has been very rampant in the previous elections.

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