Exchanging pesos to dollars before flying out?

[j_serquina 0]

Where's a good place or service to have my Philippine pesos exchanged to US dollars, for an amount that comes out at around $4000, without much fuss?

Asked a couple of banks (BDO, BPI), and they both require creating an account for this purpose. That's overkill just to have my money changed, IMO.

Replies would be much appreciated

[Sagot 1,548]

49 minutes ago, j_serquina said:

Where's a good place or service to have my Philippine pesos exchanged to US dollars, for an amount that comes out at around $4000, without much fuss?

Asked a couple of banks (BDO, BPI), and they both require creating an account for this purpose. That's overkill just to have my money changed, IMO.

Replies would be much appreciated

Don't bother exchanging your money before arriving.   It is extremely easy to find places in the Phils, SM and Robinson's both have good rate, used them for a few years until we opened a bank account in the Phils..  BDO is slight better, and I would bet BPI does as well but we bank at BDO.

 

There are, or were, money exchanges at the airport (NAIA), we used them a couple years ago and the exchange rate was excellent.  We only did about $100 just for some pocket money until we got to our bank, SM or who ever had the best rate for the day.  Now a days I keep a few thousand when we leave, the rest is in our BDO bank account easily accessible.

 

 

[RO_AH 1,623]

33 minutes ago, Sagot said:

Don't bother exchanging your money before arriving.   It is extremely easy to find places in the Phils, SM and Robinson's both have good rate, used them for a few years until we opened a bank account in the Phils..  BDO is slight better, and I would bet BPI does as well but we bank at BDO.

 

There are, or were, money exchanges at the airport (NAIA), we used them a couple years ago and the exchange rate was excellent.  We only did about $100 just for some pocket money until we got to our bank, SM or who ever had the best rate for the day.  Now a days I keep a few thousand when we leave, the rest is in our BDO bank account easily accessible.

 

 

I believe OP is asking about changing PHP to USD before leaving the Philippines unless I am misreading.

[sweet01 39]

6 hours ago, j_serquina said:

Where's a good place or service to have my Philippine pesos exchanged to US dollars, for an amount that comes out at around $4000, without much fuss?

Asked a couple of banks (BDO, BPI), and they both require creating an account for this purpose. That's overkill just to have my money changed, IMO.

Replies would be much appreciated

Hi,

 

The malls have Forex services such as SM malls and Landmark. Maybe you could try that one. I know there's a lot of money changers around Makati area too. Try Sanry's Money changer along Makati area, they said it's a good one too. Look at the review on this link - https://en.yelp.com.ph/biz/sanrys-money-changer-makati. Regards.

[Tahoma 2,291]

We have never changed pesos to dollars.  When we have leftover pesos, we simply bring them home and use them during our next vacation in 'Pinas.  We just returned to the U.S. from 'Pinas and we have about Php1600 leftover for the next trip.  

 

That being said, you could try another bank or, as mentioned above, try Forex.  

 

Are you carrying $4000 around with you?  Yikes!

[Sagot 1,548]

15 hours ago, RO_AH said:

I believe OP is asking about changing PHP to USD before leaving the Philippines unless I am misreading.

   My                   Dang I should read slower.   

 

He has almost P200,000 laying around in cash... holy sheee-it!!

 

Banks  are the only place that pops into mind to exchange to dollars.

 

Edited April 12, 2017 by Sagot

[Sagot 1,548]

17 hours ago, j_serquina said:

Where's a good place or service to have my Philippine pesos exchanged to US dollars, for an amount that comes out at around $4000, without much fuss?

Asked a couple of banks (BDO, BPI), and they both require creating an account for this purpose. That's overkill just to have my money changed, IMO.

Replies would be much appreciated

Sorry I mis-read your original post... my bad.   Sorry.

 

I wish I had an easy answer for that one.  Banks are just about the only source for that.  Not sure if SM or Robinson's do exchanges from pesos to dollars.

 

 

[Greenbaum 12,258]

23 hours ago, Sagot said:

Don't bother exchanging your money before arriving.   It is extremely easy to find places in the Phils, SM and Robinson's both have good rate, used them for a few years until we opened a bank account in the Phils..  BDO is slight better, and I would bet BPI does as well but we bank at BDO.

 

There are, or were, money exchanges at the airport (NAIA), we used them a couple years ago and the exchange rate was excellent.  We only did about $100 just for some pocket money until we got to our bank, SM or who ever had the best rate for the day.  Now a days I keep a few thousand when we leave, the rest is in our BDO bank account easily accessible.

 

 

Huh?? OP wants to exchange Peso's to Dollars. 

[Sagot 1,548]

1 minute ago, Greenbaum said:

Huh?? OP wants to exchange Peso's to Dollars. 

Ya I was caught already...        Fessed up and fixed it...  

[RO_AH 1,623]

Yea, I didn't know what to say on the original post. I only ever change USD to PHP. Anything I have left over before going home I leave with my fiance to put in her bank. For me when I travel there I send all my money via LBC because I don't like to travel with large sums of cash. Then when I am safe in my fiance's neighborhood, we go to LBC and pick it up. They look a little perplexed when they see that I am the sender and the receiver  

[j N j 50]

I deposited mine into a family members remittance account with Wells Fargo.

[j_serquina 0]

Hi everybody!

 

Grateful for all of the answers, been busy this week (read: flew out yesterday, still jetlagged).

 

I'd like to share the solution I found out to do this: Bank of Commerce (a.k.a. BankCom), has a Forex service at their Ayala Makati branch. For emigrants, bring your passport (with US visa and CFO sticker!), visa packet (they will only need a photocopy of the data sheet), plane ticket or flight itinerary with your name on it, and your pesos.

 

I was able to get a good rate exchange with them, Php 49.85 = US$ 1 (as of Wednesday).

 

Again, thank you VJers, and I hope this info will be of help to someone else

[Hank_ 9,173]

Great info!  Thanks.