Money: How to Get Cash, ATMs & Currency
Philippine Currency
The Philippine Peso (PHP) is the official currency, and you'll see it written with the ₱ symbol. You'll find banknotes in ₱20, ₱50, ₱100, ₱200, ₱500, and ₱1000 denominations. For coins, there are ₱1, ₱5, and ₱10 pieces, plus some smaller 25 centavo coins that you might encounter.
Exchange Rates
As of April 2025, one US dollar gets you about 55-57 Philippine pesos, but this changes regularly. It's smart to check the current rates before you travel and keep an eye on them during your trip.
Getting Philippine Pesos
Before You Leave Home
Consider exchanging a small amount before your trip so you have some cash when you land. Most international airports have currency exchange counters, though the rates aren't usually the best. Your bank back home can often get you Philippine pesos too.
Once You're in the Philippines
Money changers are your best bet for good rates. You'll find them in shopping malls, tourist areas, and business districts. Banks also exchange money, but they typically close earlier in the day. Hotels will exchange money for you, but expect to pay more for the convenience. Airport exchanges are handy but usually charge higher fees than places in the city.
Using ATMs
Finding ATMs
ATMs are everywhere in cities, tourist spots, and shopping malls. The major banks with lots of ATMs include BDO, BPI, Metrobank, and PNB. You can find 24-hour ATMs in most urban areas and popular tourist destinations.
ATM Costs and Limits
When you use a foreign card, expect to pay around ₱200-300 per withdrawal (about $4-6 USD). Your home bank might also charge you international fees on top of that. Most ATMs let you withdraw ₱10,000-20,000 per day ($180-360 USD), though some might have lower limits for foreign cards.
Stay Safe at ATMs
Use ATMs inside banks or right outside them when possible. Avoid isolated machines, especially at night. Always cover the keypad when typing your PIN, and stay alert to what's happening around you.
Credit and Debit Cards
Major credit cards like Visa, Mastercard, and American Express work well in cities and tourist areas. However, smaller shops, street vendors, and businesses in remote places often only take cash. Even places that accept cards might want cash for small purchases under ₱500.
Pro tips: Let your bank know you're traveling so they don't block your card thinking it's fraud. Get a PIN for your credit card before you go, and always have backup payment methods and some cash with you.
Digital Payments
Filipinos love using GCash and Maya (formerly PayMaya) for mobile payments. As a tourist, you might be able to use these if you get a local SIM card. Some vendors accept PayPal, and QR code payments are becoming more common in cities.
We also recommend Wise, which you can use for tap to pay and often offers better exchange rates than traditional banks.
Tipping
Tipping isn't required, but it's appreciated for good service. In restaurants without a service charge, 5-10% is typical. Give hotel porters ₱20-50 per bag, tour guides ₱200-500 per day (depending on your group size), and taxi drivers appreciate it when you round up the fare.
Keeping Your Money Safe
Don't walk around with large amounts of cash. Use your hotel's safe for valuables and extra money. A money belt or secure inner pocket works well for important cash. Keep a small emergency fund separate from your main money, and make copies of important financial documents.
Banking Hours
Most banks are open Monday through Friday from 9:00 AM to 3:00 PM. Some branches in malls have weekend hours but with limited services. Banks close during national holidays.
Emergency Help
If you need money in an emergency, Western Union and MoneyGram have locations throughout the Philippines. Your embassy or consulate can also help with financial emergencies. Travel insurance with emergency cash coverage is a smart idea.
Different Areas, Different Options
Popular tourist spots like Manila, Cebu, and Boracay have excellent banking and payment options. But if you're heading to remote provinces or islands, ATMs might be scarce and card payments limited. Plan ahead for these areas.
Final Tips
Always count your change carefully. Watch out for fake bills, especially ₱500 and ₱1000 notes. Keep small bills handy for jeepneys, tricycles, and small purchases. When exchanging foreign money, larger bills usually get you better rates.
