Currency exchange in the Philippines

[kpleas88 0]

I will be going the Philippines soon to visit my girlfriend and was wondering what to do money wise. Should I bring US currency with me and just use that? or just bring a debit card and take out a little amount at an ATM? Some have said to exchange at the airport but I will be coming in late and don't want to keep my girlfriend waiting outside too long and not sure how hard the exchange process is.

I would appreciate any tips on if to bring US currency, how much to bring, if to convert and where to convert money.

[x-racer 5]

ATM will charge you 200 pesos for a transaction and your bank/card may add an aditional charge. Some ATM'so allow up to 20,000 pesos and some just 10,000.

Not sure how much the changers charge.

[TBoneTX 43,058]

*** Country-specific thread moved from Off Topic forum to the Philippines regional subforum. ***

[luckytwo15 13]

The money exchangers at the Manila airport are ok. The rate is floating between 44 to 45 pesos to the dollar now. People sometimes will cut in front in the line. I don't leave much room between me and the next person there.

If you have a layover connecting flight, like Japan, and the rate is above 44 pesos to the dollar there then that's an option to save time upon arrival in Manila and avoid some ATM fees.

[manilaraf 28]

You're okay bring in cash USD.

If you need money immediately, like for a cab or if you're immediately treating the girlfriend for a meal, and your flight gets in late (like for Delta), I'd change over a small amount (~$50-100) for immediate spending money.

If you're staying in Manila, you should be okay changing over USD as needed at money changers. The reputable ones are the ones in malls like SM, Robinsons, or chains such as Sanry's or Czarina. The standalone places in Ermita I have mixed reviews about, the rate might be higher, but you might get cheated with fake bills. (Happened to my uncle). Just be sure you count your cash before leaving the place and be sure they issue you an official receipt.

If you're heading or flying to the provinces, you might as well change over more at the airport.

I wouldn't take out money daily from your ATM/Bank account or via credit card. You might get charged fees per transaction. If you foresee using your ATM or credit card at anytime while here, I'd give your Bank/Credit Card companies a heads up before leaving and let them know you'll be heading abroad. I've had my accounts flagged and shut down and had to call them since they flagged the international transaction as suspect before I let them know that I'm resident here for an extended period.

If you have an iPhone, a good app is XE Currency, so you know what the current rate is before changing over so you can shop around for the best rate.

[VOL 425]

Some have said to exchange at the airport but I will be coming in late and don't want to keep my girlfriend waiting outside too long and not sure how hard the exchange process is.

Failing in line and waiting is common practice for people living in Philippines, they are conditioned to it and are used to it, so that shouldn't be an problem.

I have fond the exchange rate in Manila Airport to be very good, Be careful when exchanging at blackmarket money exchangers in Manila area, Scammers ready to prey on people .

[Hank_ 9,173]

Bring some usd then exchange it at the airport. You can use XOOM to send money to yourself, thousands of locations to retrieve the money.

http://coinmill.com/PHP_USD.html#USD=1000