Please Answer Quick! Already in Philippines, need to get US Dollars

[Kevin- 13]

We're on Mindanao right now, going back to Manila tomorrow for more SLEC nonsense. The place we're probably going to stay does it's prices in US Dollars. They charge a higher than normal rate to exchange if paying with pesos, results in a price increase of 10% or more. That part feels scam-ish, but the rest of the operation is great, already stayed there this month.

Is there an easy way to withdraw USD from an ATM or something without a big fee or poor rate? Or if I want to exchange my pesos back to dollars where can I go and how is the rate? I did my exchange in the international terminal when I arrived for the expected rate, but I'm not sure about the best way to do this the other way around without being able to enter the international terminal.

Thanks for quick replies!

[yogib37 3]

We're on Mindanao right now, going back to Manila tomorrow for more SLEC nonsense. The place we're probably going to stay does it's prices in US Dollars. They charge a higher than normal rate to exchange if paying with pesos, results in a price increase of 10% or more. That part feels scam-ish, but the rest of the operation is great, already stayed there this month.

Is there an easy way to withdraw USD from an ATM or something without a big fee or poor rate? Or if I want to exchange my pesos back to dollars where can I go and how is the rate? I did my exchange in the international terminal when I arrived for the expected rate, but I'm not sure about the best way to do this the other way around without being able to enter the international terminal.

Thanks for quick replies!

you could try to go to SM Mega mall they have exchange place there. IF all else fails try a bank

I do not have much to add to that

[Scott and Mhay 57]

Hmm that's why I just paid for my hotel online...I also used my debit card in manila...is that not an option?

[Kevin- 13]

Can't pay for it online. It's a condo rental in a nice building with a balcony and view of manila bay. Fraction of the price of a hotel with the same view. Also we can cook if we want. Drawback is no fancy online booking system.

[Scott and Mhay 57]

Ahh and you cant pay with your debit card either right? I need to find me a place like that.

[jroc 0]

Can't pay for it online. It's a condo rental in a nice building with a balcony and view of manila bay. Fraction of the price of a hotel with the same view. Also we can cook if we want. Drawback is no fancy online booking system.

Go to Sanrys Money Changer in Greenbelt 1 in Manila...they have the best rates Pesos to USD's.....

[DaveHorton 0]

If your condo is close to Ermita, there are dozens of money changers there. My personal favorite is Edzen, but there are so many there, and most have the dollar/Peso rate in the window . It changes every time the runner does a bank run. Going pesos to dollars is obviously not going to get you that rate, but its a pointer to how small a margin the shop is taking. In my experience it is a better rate by far than the banks will give you, and certainly much better than the rate you get at the air terminal.

If you are in Makati, my preference is to go to Burgos/MakatiAve (yes, the red light district...), the changers there tend to give a tad better than the places where the rich folks go to shop (Greenbelt/Glorietta).

In the end though its pretty much down to chance. Make sure to count your money before you leave the shop. In 5 years of changing, I have only been ripped off one time and it was fixed immediately I caught it inside the shop.

[edp333 9]

In Manila there are many places like Robinson's Mall Manila, SM and banks as previously mentioned, and wife wife says there is a money exchange outside SLEC.

[marklovetina 52]

We're on Mindanao right now, going back to Manila tomorrow for more SLEC nonsense. The place we're probably going to stay does it's prices in US Dollars. They charge a higher than normal rate to exchange if paying with pesos, results in a price increase of 10% or more. That part feels scam-ish, but the rest of the operation is great, already stayed there this month.

Is there an easy way to withdraw USD from an ATM

yes, u can withdraw peso money from ur ATM card just go to any commercial banks and u can get peso money, but u will be charge for it... the bank will change ur money automatically to what is the latest exchage rate in dollars to peso... good to exchange in the morning bcoz if its in the afternoon the rate falls down... or if u have already a dollar in ur hands there are lots of booths in the sm mall to exchange ur dollars to peso...

or something without a big fee or poor rate? Or if I want to exchange my pesos back to dollars where can I go and how is the rate? I did my exchange in the international terminal when I arrived for the expected rate, but I'm not sure about the best way to do this the other way around without being able to enter the international terminal.

Thanks for quick replies!

[marklovetina 52]

We're on Mindanao right now, going back to Manila tomorrow for more SLEC nonsense. The place we're probably going to stay does it's prices in US Dollars. They charge a higher than normal rate to exchange if paying with pesos, results in a price increase of 10% or more. That part feels scam-ish, but the rest of the operation is great, already stayed there this month.

Is there an easy way to withdraw USD from an ATM or something without a big fee or poor rate?

Or if I want to exchange my pesos back to dollars where can I go and how is the rate?

uhmmm about this Q, yes u can exchage ur peso money to dollars again, u go to western union and u can buy dollars there, dont think u will be given dollars in a commercial bank, bcoz what i know is that only their clients can buy dollars from them... and i am not sure with this but i think is that u can buy dollars always lower to what is the latest dollar rate.. maybe someone can correct me if i am wrong with that hehehe...

I did my exchange in the international terminal when I arrived for the expected rate, but I'm not sure about the best way to do this the other way around without being able to enter the international terminal.

Thanks for quick replies!

[loveaboo 0]

We're on Mindanao right now, going back to Manila tomorrow for more SLEC nonsense. The place we're probably going to stay does it's prices in US Dollars. They charge a higher than normal rate to exchange if paying with pesos, results in a price increase of 10% or more. That part feels scam-ish, but the rest of the operation is great, already stayed there this month.

Is there an easy way to withdraw USD from an ATM or something without a big fee or poor rate? Or if I want to exchange my pesos back to dollars where can I go and how is the rate? I did my exchange in the international terminal when I arrived for the expected rate, but I'm not sure about the best way to do this the other way around without being able to enter the international terminal.

Thanks for quick replies!

You can change your peso back to USD but I think the rate will be higher than normal.

Edited December 27, 2009 by loveaboo

[Amerikano 0]

You can change your peso back to USD but I think the rate will be higher than normal.

What I always do in the Phils is use Xoom. Go to the internet cafe with my wife and send it to my wife. She picks the money up at BDO or if it's a small amount, at the pawnshop. I'm right there, and we don't have to worry about ATM fees etc. Because every time you withdraw there are huge fees.

[Amerikano 0]

What I always do in the Phils is use Xoom. Go to the internet cafe with my wife and send it to my wife. She picks the money up at BDO or if it's a small amount, at the pawnshop. I'm right there, and we don't have to worry about ATM fees etc. Because every time you withdraw there are huge fees.

Sorry for the double reply-- I meant to also add that you can send dollars or pisos via Xoom.

[MRS. PADIGOS 2 B 0]

If your condo is close to Ermita, there are dozens of money changers there. My personal favorite is Edzen, but there are so many there, and most have the dollar/Peso rate in the window . It changes every time the runner does a bank run. Going pesos to dollars is obviously not going to get you that rate, but its a pointer to how small a margin the shop is taking. In my experience it is a better rate by far than the banks will give you, and certainly much better than the rate you get at the air terminal.

If you are in Makati, my preference is to go to Burgos/MakatiAve (yes, the red light district...), the changers there tend to give a tad better than the places where the rich folks go to shop (Greenbelt/Glorietta).

In the end though its pretty much down to chance. Make sure to count your money before you leave the shop. In 5 years of changing, I have only been ripped off one time and it was fixed immediately I caught it inside the shop.

You can call your credit card company and tell them you are abroad and you need to use the card while you are out of the country and they will usually charge something like 1% of the total charged. They will activate the international pruchasing ability usually immediately. Then you shouldn't have any problems.