# Best way to bring or have access to money, while in Philippines



## billnvww (Jan 29, 2013)

I am coming to the Phillipines for a vacation for a few weeks, and its going to be my first time their. We will be in Cebu, Bohol and Mindanao. Can anyone tell me which is the best way to get the best rate of exchange on my money while their. Is it better to bring cash or use ATM's. I have been noticing that exchanging cash for pesos there is a charge of about 5p to each dollar exchanged, that combined with the weaking dollar value kinda sucks. If I bring cash, is there anyplace where I can get the actual full rate of exchange value as determined daily by the federal reserve their. If I use ATM's, (which I consider safer by far) is there the same type of charge, or will it be the full actual exchange rate minus ATM fees, and the $1.50 foreign currency exchange fee, or any other additional fees I am unaware of. 
Thanks in advance, for any helpful comments concerning this!!!


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## pinkrishia (Mar 18, 2011)

Hello there...

To be safe, I suggest for you not to bring cash in Phils, if u do, have it exchanged immediately and keep it safe, either put it in safety deposit box or deposit it if ur with someone who has a local bank account in Phils. Bring enough cash that can get through the day. 

Re the exchange rate, its normal to have a lower rate per dollar, you will never get an actual rate anywhere in Phils (its business!)but it depends where you would want to exchange it but I strongly advise to do it inside a mall or bank.. Don't be tempted to have it exchanged to a place somewhere else which offers a higher rate bc money can be fake. Careful!

Read news paper/watch news to see the exchange rate everyday. If it seems closer to the rate released by Banco Central, they ul be fine! Good luck!


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## Kevin_S (Feb 13, 2013)

If you use an ATM, try to use the ones located inside establishments rather than the ones outside. Be sure to examine the card slot for tampering. I get charged 200 php ($5) fee to withdraw money from my US bank, per transaction

Enjoy your trip, just use caution and common sense.


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## Sirrat (Jul 10, 2015)

Kevin_S said:


> If you use an ATM, try to use the ones located inside establishments rather than the ones outside. Be sure to examine the card slot for tampering. I get charged 200 php ($5) fee to withdraw money from my US bank, per transaction
> 
> Enjoy your trip, just use caution and common sense.


If you bring cash get the newest $100 bills you can find. Some money changers won't accept older series $100 bills or will only take them at a lesser rate. Generally speaking the farther away from Manila you are the more the exchange rate drops so keep that in mind if your traveling to the outer areas. Most transactions with a foreign bank account or credit card will have a surcharge added just because your bank is out of country. If you plan on traveling a lot to the Philippines check with the banks and Credit card companies, you should be able to find an account you can set up for use in the Philippines without the surcharges.


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