Money: How to Get Cash, ATMs & Currency

The official currency of the Philippines is the Philippine Peso (PHP), denoted by the symbol ₱. Banknotes are available in denominations of ₱20, ₱50, ₱100, ₱200, ₱500, and ₱1000. Coins come in denominations of ₱1, ₱5, and ₱10, as well as smaller centavo coins (25 centavos).

Exchange Rates

• As of April 2025, 1 USD is approximately equal to 55-57 PHP (check current rates before travel)

• The exchange rate fluctuates regularly, so it's advisable to monitor rates before and during your trip

Where to Exchange Money

Before Arrival

• Consider exchanging a small amount of currency before your trip for immediate expenses upon arrival

• Most international airports offer currency exchange, though rates are generally less favorable

• Major banks in your home country typically offer Philippine Peso exchange services

In the Philippines

• Money Changers: Found in shopping malls, tourist areas, and business districts, often offering competitive rates

• Banks: Most major banks provide foreign exchange services, though they may have shorter operating hours

• Hotels: Convenient but typically offer less favorable rates

• Airport Exchanges: Available but usually charge higher fees than city locations

ATMs and Cash Access

ATM Availability

• ATMs are widely available in cities, tourist destinations, and shopping malls

• Major banks with extensive ATM networks include BDO, BPI, Metrobank, and PNB

• 24-hour ATMs can be found in many locations, particularly in urban areas and tourist spots

ATM Fees and Limits

• Foreign card users typically pay a fee of ₱200-300 per withdrawal (approximately $4-6 USD)

• Your home bank may charge additional international transaction fees

• Daily withdrawal limits generally range from ₱10,000-20,000 ($180-360 USD)

• Some ATMs may have lower limits for foreign cards

ATM Security Tips

• Use ATMs located inside or directly outside banks when possible

• Avoid isolated ATMs, particularly at night

• Cover the keypad when entering your PIN

• Be aware of your surroundings and watch for suspicious activity

Credit and Debit Cards

Acceptance

• Major credit cards (Visa, Mastercard, American Express) are widely accepted in cities and tourist areas

• Smaller establishments, street vendors, and businesses in remote areas often only accept cash

• Smaller transaction amounts (under ₱500) may require cash payment even in card-accepting establishments

Card Usage Tips

• Notify your bank of travel plans to prevent fraud alerts blocking your transactions

• Request a PIN for your credit card before traveling for wider usability

• Always have card alternatives and some cash available

Digital Payment Options

• GCash and Maya (formerly PayMaya) are popular mobile payment apps in the Philippines

• International tourists can sometimes use these with local SIM cards

• International payment apps like PayPal are accepted by some vendors

• QR code payments are increasingly common in urban areas

Tipping Practices

• Not strictly required but appreciated for good service

• In restaurants without service charge, 5-10% is customary

• Hotel porters: ₱20-50 per bag

• Tour guides: ₱200-500 per day depending on group size

• Taxi drivers: Rounding up the fare is common

Money Safety Tips

• Don't carry large amounts of cash

• Use hotel safes for valuables and excess money

• Consider a money belt or secure inner pocket for important cash

• Keep a small amount of emergency cash separate from your main funds

• Maintain copies of important financial documents

Banking Hours

• Most banks operate Monday to Friday, 9:00 AM to 3:00 PM

• Some mall-based bank branches open on weekends with limited hours

• Banks typically close during national holidays

Emergency Financial Assistance

• Western Union and MoneyGram have numerous locations throughout the Philippines

• Your country's embassy or consulate can provide assistance in financial emergencies

• Travel insurance with emergency cash provisions is recommended

Regional Variations

• Major tourist destinations like Manila, Cebu, and Boracay have excellent financial infrastructure

• Remote provinces and islands may have limited ATM availability and fewer card payment options

• Plan accordingly when visiting less-developed areas

Additional Tips

• Always count your change carefully

• Be aware of counterfeit bills, particularly ₱500 and ₱1000 notes

• Keep small bills handy for transportation and small purchases

• Exchange rates are often better for larger denominations of foreign currency