The Philippine Central Bank webpage I posted earlier indicates per person.I was only questioned once in about 8 trips. I told the guy in Hawaii as I boarded I had 10k usd. He waved me on. There are funny rules moving money on your person even in the US. The only issue I have is the 10k limit seems to apply to a family unit under one customs form. It is technically an issue if husband and wife each have 10k usd.
If you get pulled over in US and have 10k cash on you be prepared to lose it a while. They can assume it is from drugs and seize it. Then you get to fight for it back.
I have never had issues transferring money bank to bank US to Philippines for large amounts. I also fill in my FBAR every year. The Philippines bank does ask for proof of funds source occasionally, I provide a bank statement from the US Bank. That takes care of the US requirements forcing all this tracking. I have known people that have peso left over and bring to US. Sometimes over that limit of 50k peso. They always bring it back on next trip but it would be illegal to move it around I guess. Io find no reason to bring peso to US since the exchange rate and fees in US lose you money.
I understand if underage kids arent counted separate,Coming into the US it is not the case
A family using same custom form has a group limit triggering the notification.
Also the actual customs form for Philippines on the plane pushes to a single form per family. So the currency question is for all members.
It seems a very technical point, one I would not like having with custom officials in any country.