Angeles City

[PedroMorales]

I see lot of discussions around this topic and not one person suggested to exchange at home country before hitting Philippines. Is the exchange rate too bad at home countries in West? I always exchange at home country (in my case Malaysia) before leaving for Philippines. I'm planning my next trip and wonder if I may get a better rate in Philippines.

The PhP and the Malaysian ringgit would both be classed as thin currencies that are not much in relative demand compared to mainstream currencies like the Swiss franc and the Chinese yuan and the Japanese yen. Outside of say expat circles in the USA or Saudi, they would not be in much relative demand. One of the ways the USA coins is by making countries trade in US $ and destabilizing them, to cause capital flight to safe US havens where they can be expropriated.

The ringgit example you give is interesting. If there is not a major retail trade volume between the two, a Malate dealer would first exchange into $ and then into PHP, making you lose slightly. However, given the sheer level of Phil remittances and Malaysia and Phils are close, that may not be the case.

[WildInstincts]

Ok. Fair call. This makes sense.

My remedy for this is I have a dedicated travel card that has all the benefits that were listed before. I've actually got two for the same account that I carry in separate locations should I loose one or it gets eaten by an ATM (never happened to date though).

My bank are absolute Nazis when it comes to fraud prevention so my biggest worry is that the cards get blocked in error rather than skimmed or milked dry (again both have not happened yet).

Thanks.

I see lot of discussions around this topic and not one person suggested to exchange at home country before hitting Philippines. Is the exchange rate too bad at home countries in West? I always exchange at home country (in my case Malaysia) before leaving for Philippines. I'm planning my next trip and wonder if I may get a better rate in Philippines.

[Goferring]

I don't trust using my ATM card in the Phils. If the card gets cloned you expose yourself to a lot of pain getting your money back. Using cash limits your loss to the couple of hundred you have on hand. I carry enough cash for the trip but leave it all in the hotel safe and just take out 100 to 200 at a time for changing at the street changers. Never had any issues with that in dozens of trips.

Ok. Fair call. This makes sense.

My remedy for this is I have a dedicated travel card that has all the benefits that were listed before. I've actually got two for the same account that I carry in separate locations should I loose one or it gets eaten by an ATM (never happened to date though).

My bank are absolute Nazis when it comes to fraud prevention so my biggest worry is that the cards get blocked in error rather than skimmed or milked dry (again both have not happened yet).

Thanks.

[The Rose]

Honest question: what are the benefits to relying on imported cash and exchange booths?
What benefits are people seeing from relying on cash?

It has been awhile since I reviewed the specifics of this issue but as I recall the exchange rate and transaction fees were pretty steep. Then, too I have had identity theft on my ATM card in the PI. Finally a couple of times the ATM machine retained my card and I had go through a lengthy Philippine rigamarole to get it back. The ATM machines aren't as reliable and we expect too much to believe they will operate as efficiently as they do back home. Yes, I keep cards as a backup. I was stranded for 70 days during the first of Covid in 2019 and ran out of cash. Even then one of my cards dishonored. I use cash, am cautious, and have been using the same mom and pop hotel for years.

[Expat American]

Honest question: what are the benefits to relying on imported cash and exchange booths? I've never understood why people take the risk of walking around town and openly exchanging amounts that are very tempting to others to take it. Once it's gone, it's gone. Seems like unnecessary risks to me, both in the room and on the street.

I'm guessing it's an attempt at anonimity??

In these days of travel cards and refunded fees, sticking a card in an ATM every couple of days seems a much easier, less risk and cost effective option.

What benefits are people seeing from relying on cash?

I don't trust using my ATM card in the Phils. If the card gets cloned you expose yourself to a lot of pain getting your money back. Using cash limits your loss to the couple of hundred you have on hand. I carry enough cash for the trip but leave it all in the hotel safe and just take out 100 to 200 at a time for changing at the street changers. Never had any issues with that in dozens of trips.

[Sock111]

Honest question: what are the benefits to relying on imported cash and exchange booths? I've never understood why people take the risk of walking around town and openly exchanging amounts that are very tempting to others to take it. Once it's gone, it's gone. Seems like unnecessary risks to me, both in the room and on the street.

I'm guessing it's an attempt at anonimity??

In these days of travel cards and refunded fees, sticking a card in an ATM every couple of days seems a much easier, less risk and cost effective option.

What benefits are people seeing from relying on cash?

To me, its just a matter of convenience. Withdrawal limits at ATMs in the Philippines is low. Annoys the hell out of me that most ATMs only let me take 10 k pesos or roughly $200 US dollars at a time. This may be sufficient for your needs. Just depends on your spending habits. I used an exchange at the SM mall once, also a pain in the butt, they wanted my passport, they were picky about the conditions of the bills and made me fill out a form. The anonymity and speed of the money changer on fields is just really convenient. I have also never received a fake bill.

In regards to the money changers, their rates are often very close to market and end up better when you have to factor in the ATM fee you pay. Novices should definitely heed advice and not use the money changers out in the open. I have never had a problem using them, but I have been to AC many times and have a good understanding of the area and the type of people to watch out for. It shouldn't be a problem if you are changing just enough for your needs.

Right now the rate is is hovering around 51.10 on the street. ABC hotel is exchanging at 50.50 not a huge difference.

[Goferring]

Any recommendations for currency exchange locations? Typically I avoid airports and hotels as they normally rip you off. Thanks!

Honest question: what are the benefits to relying on imported cash and exchange booths? I've never understood why people take the risk of walking around town and openly exchanging amounts that are very tempting to others to take it. Once it's gone, it's gone. Seems like unnecessary risks to me, both in the room and on the street.

I'm guessing it's an attempt at anonimity??

In these days of travel cards and refunded fees, sticking a card in an ATM every couple of days seems a much easier, less risk and cost effective option.

What benefits are people seeing from relying on cash?

[Member #4794]

Any recommendations for currency exchange locations? Typically I avoid airports and hotels as they normally rip you off. Thanks!

I have personally not seen this to be true I have gotten ripped off less at airport than in the city. The banks in the city also have weird ID requirements at the airports you may avoid the ID and paper signing requirements.

Always check the going rate and check for a variance in the going rate and the rate they give you I don't see how they can rip you off given you have an understanding of exchange rates.

I have actually made money changing dollars into local currency at the airport in some instances due to their rates not being updated and the mid day rate dropping at the airport where at the shops in the city will almost always be a lot more on top of this.

At the airport you also have a measure of anonymity in terms of the amount you exchanged as you will rarely see people from the airport at your destination.

I would actually say changing money in the city is much more dangerous and inconvenient than at the airport.

If i do change money in the city do it in a SM department store or Robinson's they offer currency exchange in their respective departments and its much more private than out on the street.

https://www.thesmstore.com/pages/forex
https://www.robinsonsbank.com.ph/foreign-exchange/currencies/

[RandyMarsh3]

Best bet: Exchange some money at the NAIA money changer just after departing the luggage area. After grabbing your luggage, as you depart the Customs area, in the hallway, turn right and walk towards the elevators (ask a guard where the elevator is if you need, its at the end of the hallway). Just prior to the elevator, on your left, is:

1) A money changer booth; and.

2) Globe and Smart sim card booths.

Exchange a quick $100-$200 US dollars at the money changer. Unlike money changers in airports of other countries, there is no service fee. The exchange rate will be similar to those changers on the street (a small possible loss to you will be 1-2% on the exchange rate ($1 - $2 dollars total) over a street changer. Disadvantage: you lost $2. Advantage: You are inside a guarded and well-protected area; there is no threat of being robbed in this place. Note these words from The Rose:.

Awesome write up! Glad you added the SIM card topic in there. Much appreciated! .

[WestCoast1]

Are they still using "one health app".

Yes, checked immediately after deplaning.

An update from the PAL website on entry requirements (see pic):

1) One Health Pass completed.

2) Negative Covid test.

3) Proof of vax.

4) Medical insurance.

5) Return or onward airline ticket.

6) Passport.

[WestCoast1]

Angeles City.

Best bet: Exchange some money at the NAIA money changer just after departing the luggage area. After grabbing your luggage, as you depart the Customs area, in the hallway, turn right and walk towards the elevators (ask a guard where the elevator is if you need, its at the end of the hallway). Just prior to the elevator, on your left, is:

1) A money changer booth; and.

2) Globe and Smart sim card booths.

Exchange a quick $100-$200 US dollars at the money changer. Unlike money changers in airports of other countries, there is no service fee. The exchange rate will be similar to those changers on the street (a small possible loss to you will be 1-2% on the exchange rate ($1 - $2 dollars total) over a street changer. Disadvantage: you lost $2. Advantage: You are inside a guarded and well-protected area; there is no threat of being robbed in this place. Note these words from The Rose:

"Pick the one that has the best place to count and pocket your money away from the eyes of the beggars. Oh, BTW if someone ever makes an offer that is too good to be true, it is too good to be true. There is a money changer in Manila who is a Houdini and your money will disappear. All part of the learning curve. "

Changing money at the airport is safe from these things (most money changers on the street are also safe, assuming you don't exchange your money and then forget to count it right there and put it away in your wallet BEFORE departing the place). Also keep in mind that the exchange place at NAIA is a chain (ForEx or such), they also don't want any trouble for you (it risks the chain's reputation, and risks their removal from the lucrative airport kiosk spot).

Get a Smart or Globe sim card in your phone and put a load on it right there. You can immediately start using it to contact your chicas or hotel.

Once you are safely ensconced in your AC hotel, you can easily find street money changers on Fields or nearby. Simply ask at your front desk and they will direct you to one. Some hotel front desks will also exchange your money, but you will receive less pesos than a street money changer. For example, while the street changers might be offering p49.5 - p50.5 to $1 US dollar today, the front desk might offer you p45 to $1 US dollar (a loss of about p4 per $1 to you, about 8% The hotel will later change your US dollars at a street changer and get back p50-ish, making a profit. They are charging you a convenience fee.

Note Rose' advice: When exchanging money at a street changer. Only choose a changer that has a door, and operates INSIDE the booth. Changing money while you are outside allows street folk to watch what you are doing. Go inside and inquire the exchange rate. Don't like the rate? Are you just rate-shopping? Feel free to walk away. If you are ok to the rate, hand over your currency (example US dollars). The exchanger might look over your bills to see if they appear counterfeit. He will then enter your dollar amount (say, $100) into his calculator, and multiply by his exchange rate (say, p50), and show you the result on his calculator (p5000). He will then count out the p5000 and hand it to you, and a receipt for p5000. It is then YOUR responsibility to count the p5000 to make sure its correct. If not, have him count it again for you, then YOU re-count it for correctness. Do NOT walk out of the place until you are sure. If you are not convinced the amount is correct (a rarity), ask for your US dollars back. Once you are sure your count is correct (p5000), put your money away to keep it hidden BEFORE you walk outside. I have seen even seasoned veterans walk outside, count their money in front of everyone, then shove it in their pocket -- bajesus!

Counting or putting your money away outside is just asking for trouble. Once you walk out the money changer's door with the pesos, you can not return there to complain about being shorted (Houdini). After doing an exchange like this 1-2 times you will be a pro, it takes about 90 seconds. Gents did I miss anything?

[RandyMarsh3]

There's a discussion about this in General Information from about April 8th. Airports in Tokyo, Seoul, and elsewhere will rip you off--because you're a captive audience once you're inside the security checkpoints. But as the referenced discussion indicates, you can get decent exchange rates at a half dozen or so banking booths at NAIA--but after you clear customs and immigration. They post their exchange rates.

In many places you can find Western Union or MoneyGram services in supermarkets and in malls. Their exchange rates are usually reasonable. Storefront places named Lhullier or Cebuana also have reliable exchange services. They're not hard to find.

Thanks for the info!

[RandyMarsh3]

A bit more specific. What city? What area of that city (if you know it)?

Angeles City.

[The Rose]

Any recommendations for currency exchange locations? Typically I avoid airports and hotels as they normally rip you off. Thanks!

If you go out on Fields Ave perhaps 25 m past Margarita Station across from the Jeepney terminal there are maybe 3 money changers. I have never seen anyplace in AC having better rates. If you have count then you may be able to haggle, say $800. The three outlets probably collaborate on a rate. Pick the one that has the best place to count and pocket your money away from the eyes of the beggars.

Oh, BTW if someone ever makes an offer that is too good to be true, it is too good to be true. There is a money changer in Manila who is a Houdini and your money will disappear. All part of the learning curve.

[Soapy Smith]

Any recommendations for currency exchange locations? Typically I avoid airports and hotels as they normally rip you off. Thanks!

There's a discussion about this in General Information from about April 8th. Airports in Tokyo, Seoul, and elsewhere will rip you off--because you're a captive audience once you're inside the security checkpoints. But as the referenced discussion indicates, you can get decent exchange rates at a half dozen or so banking booths at NAIA--but after you clear customs and immigration. They post their exchange rates.

In many places you can find Western Union or MoneyGram services in supermarkets and in malls. Their exchange rates are usually reasonable. Storefront places named Lhullier or Cebuana also have reliable exchange services. They're not hard to find.