Cashier's check

[BigRoglovesLeila 0]

How easy to deal with cashier's check in the bank at Philippines and to what bank offers the highest dollar rate? I do have an account at BDO and planning to bring a cashier's check with me rather than bringing it as cash. Any opinion about this? If cashier's check is not advisable what will be the best option?Any input is highly appreciated! Thanks a lot!

[HollyGolightly 72]

Are you traveling with a cashier's/bank check? Or do you mean traveler's check? It is fairly easy to have a traveler's check encashed at the banks or the local foreign exchange counter at an SM mall or BDO bank. The rates will be lower than if you have to change dollars. I've had to deal with changing foreign money when I lived in Manila and banks have always offered lower exchange rates. BDO would have to be one of the better banks for changing foreign currency. I changed mine at the "grey market" money changers in Cubao. Czarina is a popular grey market money changer with branches in Makati and several other locations. I would be wary about traveling with a large sum of money (even a cashier's check). I would suggest wiring the money to your account in the Philippines and withdrawing what you need from your account when you're there. Even better, just bring a credit card. It'll be safer and more convenient.

[Bill & Ivy 6]

I am not sure where you are bringing the cashiers check from, but I am assuming from anothet country. Not 100%, but I have a feeling it will take as long for a cashiers check to clear, as it would if you wrote a personal check, which takes about 30 days to clear. If you are transferring from another country to the Philippines where you have a bank account, I would have it done as an electronic funds transfer, it will cost some money, nut its quick and easy. Check into HiFX website also,or XE. XE will work from most countries except the US.

[Wyatt Cox 16]

Strongly suggest setting up a Remitly or Xoom account to directly transfer the money to the account. Safer and immediate credit.

[Hank_ 9,173]

I do a xoom transfer before I fly out, then I pickup the money at any of a variety of locations once I get there.

[Teripid 5]

Cash (assuming you're not talking astronomical amounts) is also extremely easy to exchange without a fee at any SM Mall currency exchange counter. Checked the live rate and exchanged $400 at pretty much spot on the current xe.com rate in about a minute and a half. Plenty of other spots are also decent.

ATMs also aren't terrible if your own company won't rake you over the coals for an international withdrawl and direct bank transfers with either XOOM or other money services are quick, fairly cheap and reliable. There may be other concerns if you're buying a house or something that's a huge ticket item.

If your credit card is enabled for international charges they also typically work for pretty much any mall store or big city hotel that has a web presence and just cost you whatever your card's fee is (alway pay in PHP to avoid the vendor's conversion rate).