Philippines bring cash

@expander28

Hello

Just to inform you that I have moved your thread to the english speaking Philippines forum. (This post was initially posted on the french speaking forum).

Regards

Bhavna

@Bhavna

Thank you

@expander28

A snack at the airport, a taxi to your hotel? Bring some Pesos cash or draw it at the airport at a terrible rate.

Never saw a taxi driver take a debit card here, perhaps you secured your airport transport? Mostly The Philippines operates on cash for small purchases.

Have an interesting experience.

Cheers, Steve.

I always take enough pesos to get me through the first week or so then I will use my credit card to withdraw money when needed.

Cherryann01 said. . . . I always take enough pesos to get me through the first week or so then I will use my credit card to withdraw money when needed.

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Did you really mean debit card?

Cash advance on credit card isat exorbitant rates of interest.
   

 

    Cherryann01 said. . . . I always take enough pesos to get me through the first week or so then I will use my credit card to withdraw money when needed.
************************
Did you really mean debit card?
Cash advance on credit card isat exorbitant rates of interest.     
   

    -@Enzyte Bob

Yes indeed an important distinction to make.

Can’t wait for the UK launch of the Charles Schwab debit card

@Enzyte Bob

I take both credit and debit card

Agree Cherry always bring some cash, PHP 5 to 10K and plenty of smaller denominations as so many here can't change a 1K note hoping for the gain at your loss.

Holiday, debit card can be cheaper to operate on than a credit card. Cash is king here as we all know.

Cheers, Steve.

        Cherryann01 said. . . . I always take enough pesos to get me through the first week or so then I will use my credit card to withdraw money when needed. ************************Did you really mean debit card?Cash advance on credit card isat exorbitant rates of interest.              -@Enzyte Bob

Yes indeed an important distinction to make.
Can’t wait for the UK launch of the Charles Schwab debit card
   

    -@Lotus Eater

I should clarify that the credit card I use (Halifax Clarity) comes with no fees apart from the 250 pesos fee for each transaction at the ATM in the Philippines. Also when using my credit card I always make sure I have enough money to pay it off when I return to the UK so no interest fees.

if i come over on a 3 month visa and apply for an srrv while in philipinnes do i need to book a return flight or one way flight as i would need to give departure date at customs when i arrive

how does this work

            Cherryann01 said. . . . I always take enough pesos to get me through the first week or so then I will use my credit card to withdraw money when needed. ************************Did you really mean debit card?Cash advance on credit card isat exorbitant rates of interest.              -@Enzyte BobYes indeed an important distinction to make. Can’t wait for the UK launch of the Charles Schwab debit card        -@Lotus EaterI should clarify that the credit card I use (Halifax Clarity) comes with no fees apart from the 250 pesos fee for each transaction at the ATM in the Philippines. Also when using my credit card I always make sure I have enough money to pay it off when I return to the UK so no interest fees.        -@Cherryann01

with no fees apart from the 250 pesos fee for each transaction at the ATM in the Philippines

Not anymore Cherryann. It seems that I have misled (but not intentionally) this Forum regarding the availability of the Charles Schwab Debit card to UK nationals which reimburses the ATM fee every month.

Just got off the phone to their London office: the information given me 3 weeks ago is incorrect. Spoke with a charming American lady who confirms that this card IS available to British nationals WITH the same benefits as American citizens. Moreover you can use the account to purchase equities if you like. No minimum balance required

renegadesric5299 asked. . . . if i come over on a 3 month visa and apply for an srrv while in philipinnes do i need to book a return flight or one way flight as i would need to give departure date at customs when i arrive
how does this work

*********************

The departure date check is done by the airline before you board.

Cherryann01 said. . . . I should clarify that the credit card I use (Halifax Clarity) comes with no fees apart from the 250 pesos fee for each transaction at the ATM in the Philippines. Also when using my credit card I always make sure I have enough money to pay it off when I return to the UK so no interest fees.

********************

If I'm not mistaken interest starts the moment you take a cash advance on a credit card.

   

I always bring the full cash allowance 10k when I fly back to home there... Cash is king when you own a business in the U.S... 😉  Then I Budget us while I am home at 500 per week(25,000P)... which allows us to pretty much do whatever we want.  I do also use a United Air Credit Card a little if we have a project at the house(for Citi hardware, etc.)  Anyways... To comment on the post... I cannot see how ANYONE could get along in Philippines without some pesos.  Tips? Etc... I don't see that working cashless in Philippines... no way... My minimum is at least 5000p at all times... and preferably a good mix of 1000, 100, 50s... I would feel naked without pesos in my pocket!  Haha... Good Luck!  👍🏻

@Enzyte Bob, are you able to withdraw a large amount how much how often I have Bank of America in the USA and I also got a wise card,

Is it wiser for me to bring cash of course I am going to but not sure whether I want to bring 2000  or $5000

Thanks

I would just take one or two major debit cards, a credit card (mostly for hotels) and about $500 cash and convert to 5k php upon entry. Go to ATM or send yourself money by remitly/ western union/zoom etc. as needed. Don't bring too much western currency; the tiniest defect on a $100 bill renders it useless here.

@danfinn

I have run into the 100 dollar bill not acceptable... but that was mostly immediately after covid...  the last 2 trips home I haven't had a single bill denied...

Ya... if you don't have alot of cash... i would not bring much either... it's easy to just remitly it direct to a bank account. 

I did that when we purchased our home... I maxed out the remitly for ahwile... lol...

expander28 asked me. . . . Enzyte Bob, are you able to withdraw a large amount how much how often I have Bank of America in the USA and I also got a wise card,
Is it wiser for me to bring cash of course I am going to but not sure whether I want to bring 2000  or $5000
Thanks

************************

Well I progressed in several steps. When arriving in the Philippines with my Filipino wife, we each carried $750, our USA debit card, USA charge cards and a USA checkbook from Citibank.

Now along the way I made some newbee errors/mistakes.

(1) Since my wife was a Filipino she was able to open a Peso and a Dollar accounts and at  BDO.

(2) With our $1500 USD we deposited $1000 in the dollar account.

(3) We wrote a check for $2500 and deposited it in the Peso account which took close to a month to access the money.

(4) Also the Citibank has several ATM's in Manila and I withdrew Pesos at their ATM on my Citi account in the USA. Citibank Philippines and Citibank USA accounts are not linked.

(5) You can use your BofA debit card at any ATM in the Philippines, any fees are really of no importance over short term use of the card.

(5) You are able to withdraw P15,000 at their ATM's compared to $10,000 at Philippine banks.

(6) At first I used charge cards for major purchases.

(7) Just prior to coming I opened a Citibank charge card, interest free for one year, with 1% cash back when you use it and 1%  cash back when you make a payment.

(8) I made major purchases on that card and cataract surgery was approximately $2200 USD.

(9) The card was paid in full at 11 months, so I earned 2% back on all the purchases.

(10) After a year with no activity on the Citibank charged card they cancelled the card.

(11) Along the way I started using Wise to transfer money as needed to our BDO Peso account.

(12) I keep P10,000 WAM, walking around money at hand.

@Wellsfry Ya... if you don't have alot of cash... i would not bring much either... it's easy to just remitly it direct to a bank account.

Not all of us bother with opening bank accounts here. But with Remitly you can also send the cash to a lot of money handlers (pawnshops) line Palawan and Lhullier (both are everywhere) or if you don't like the pawn shops, LBC. When I send money that way I usually send to Lhullier; it seems to be less crowded than Palawan and fairly clean.

@Enzyte Bob thank you so much for your insight it was very helpful appreciate you man

A couple days before I got on the plane I went to my local bank and pulled out $10k cash. While doing it, I explained to the teller I wanted all new bills and why. Because the slightest blemish here may get denied. I even had some of those denied at the Prince Hypermart exchange for the slightest of tear from a rubber band.

But most importantly, no older style $100 bills. All the latest with watermarks, strip, etc.

So whatever cash you bring, make sure it's brand spanking new with no blemishes.

I bring Pesos and draw as needed, all countries the same Bhat, Francs, Pesos, Euros, US dollars etc.

Never a problem.

Cheers, Steve.

I use xoom straight in to my BDO account so no problems. Much more convenient, easier and also cheaper

And when you fly into PH? tphgawn No Pesos for a cab or a snack while waiting for a pick up, Your partner or a grab driver held up in traffic? Visa extensions? Hotel etc.

OMO but bringing in some local currency purchased at the right price is safer.

Cheers, Steve.

    A couple days before I got on the plane I went to my local bank and pulled out $10k cash. While doing it, I explained to the teller I wanted all new bills and why. Because the slightest blemish here may get denied. I even had some of those denied at the Prince Hypermart exchange for the slightest of tear from a rubber band.
But most importantly, no older style $100 bills. All the latest with watermarks, strip, etc.

So whatever cash you bring, make sure it's brand spanking new with no blemishes.
   

    -@Larry Fisher

I came 3 months ago with Canadian $100 bills. I had no questions or concerns when I went to 2 different money traders in Cebu city. 

Cash is king here and I recommend having a 10,000 P at all times.... a lot more us better.  I use my credit card wherever I can as it has no fees.

  I will soon remintly myself additional cash as the fees for debit card withdrawl are high and limits you to 10,000 P

Good luck.

Donald

If you go to phil on a regular basis, open a bankaccount. Use revolut to transfer peso into the account for a small fee. much cheaper than withdraw money from the atm if you don't hold a debit/creditcard for feeless atm withdrawels. avoid the 10k + restriction by deposit it into your bankaccount when leaving for the next visit or put it on maya for 6% interest. but tax is deducted from that.