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Is it best to take pounds to the phils and exchange them there

Discussion in 'Money Matters' started by SoldierRJ88, Dec 25, 2016.

  1. SoldierRJ88
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    SoldierRJ88 Active Member

    Off to the phils in April with my fiancé her mum said it's best to take pounds and exchange them there to get a better rate is this the best way to do it.
  2. knightstrike
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    knightstrike Active Member

    Yeah, best way mate.
    Don't change it in the airport straight way though.

    Ask your girlfriend's parents or relatives for a good money exchange store.
    We Pinoys always know where the best deal is.
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  3. SoldierRJ88
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    SoldierRJ88 Active Member

    Cheers mate and will do I'm looking at taking 1000 British do you think that's enough for a 12 day stay as hotels already paid for.
  4. knightstrike
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    knightstrike Active Member

    That's good already.

    P61,119.27 that's how much your money is in Philippine peso at the moment.

    Try to maintain 5,000 pesos a day spending and you'll be fine. And 5000 is big money already in the Phils. Bills and rent to a lot of people. A month's wage even to some people.

    You already have your hotel sorted out so all of that is just your spending money.

    Quality food starts from 100 pesos. Night-outs in clubs/pubs cost about 800 to a 1000 minimum. Everyday clothes start from 50 plus and up. Good clothes cost about 200 and up.

    Good enough mate and you can live like a Lord. Hahahaha...

    Don't stress! Have fun in your holidays!
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  5. Timmers
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    Timmers Well-Known Member Trusted Member

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  6. SoldierRJ88
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    SoldierRJ88 Active Member

    Salamat that's good to know and cheers for your help and advice and yes we're both looking forward to living it up a bit haha I love how cheap it is.
  7. SoldierRJ88
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    SoldierRJ88 Active Member

    Cheers Timmers will do.
  8. oss
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    oss Tech Guy Staff Member

    He'll likely get about 60,000 from the best money changer based on todays exchange rate, slightly less in most money changers and closer to about 58,500 in SM (I'm working on rough ratios I have experienced in the past).

    My advice would not be to change it all at once, but to change two or three times, keep some in pounds as long as possible and he should have some kind of backup in the form of a bank or credit card. the hotel should hopefully have a small electronic safe in each room where he should keep spare cash and passport and cards (he should carry a passport photocopy for when he is out and about, main photo page and entry stamp page) he should only carry the cash he thinks he might need for the day based upon what they plan to do that day.

    Don't put anything in the room safe until he has practised locking and opening it a few times after he has set his PIN code, I'm paranoid I like to know that something works before I trust it :)
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  9. SoldierRJ88
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    SoldierRJ88 Active Member

    Thank you Oss cheers for the sound advice all taken on board and yes I will be taking my credit card as a backup or for emergencys.
  10. Dave_E
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    Dave_E Well-Known Member Trusted Member

    Don't put anything in your room safe, buy some decent padlocks for your luggage.

    Check Google and Tripadvisor to find decent money changers.

    Keep a daily audit of your money.

    Find out the current exchange rate before you travel, write it on a card in your wallet, write out what £100 is worth in Peso, what 20,000 Peso is worth in GBP. Write it on your wrist, so you know what you want even after a long flight.

    Be aware that some ATM's have 2 decimal places.
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  11. SoldierRJ88
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    SoldierRJ88 Active Member

    Will do cheers mate
  12. oss
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    oss Tech Guy Staff Member

    Really? I've always been fine with the room safes, I know it can be overridden but in the majority of cases I would trust them? It will at least keep you safe from corrupt cleaning staff if the hotel is not the absolute bottom end.

    Agreed on the rest of your advice.
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  13. SoldierRJ88
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    SoldierRJ88 Active Member

    Well I was going to ask about the hotel I booked to see if it was OK.
  14. Dave_E
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    Dave_E Well-Known Member Trusted Member

    On one occasion I was unable to open an electronic room safe when checking out, I think the battery had gone.
    Took the reception staff ages to open it, fortunately I got my passport back and made it to the airport in time for my flight.

    On another occasion 100 US dollars exactly "vanished" from the safe in a different hotel, I know it was missing but how can you complain with no proof other than a daily audit in Excel.

    If my bag was slashed, or my padlocks broken I would have physical proof, and would be able to complain and get the police involved.
  15. uklove
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    uklove Active Member

    I've heard some hotel safes can be opened with a piece of metal bent to right shape - to touch the reset switch inside.
    You will probably need a credit card or cash for a deposit when checking in at the hotel.
  16. SoldierRJ88
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    SoldierRJ88 Active Member

    Yes a deposit I need to pay like 2500 peso deposit I think on arrival.
  17. CampelloChris
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    CampelloChris Well-Known Member

  18. SoldierRJ88
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    SoldierRJ88 Active Member

    I Deffo won't be using the safe at all.
  19. oss
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    oss Tech Guy Staff Member

    I would still use one, in most places I have stayed that had one the rear entry metal stick reset method would not have worked as the safes were solidly fixed in a confined space.

    And yeah I've seen the cylindrical lock picking devices as well and certainly some of these things look poorly built.

    You are not going to protect yourself from a corrupt manager and staff that know the tricks for each model will no doubt be able to get your stuff, but it's not good for them or the hotel to acquire a reputation for theft from rooms and that is going to show up in the hotel reviews.

    It's a long time since I actually stayed in a hotel over there, but when we were not in Manila and staying at a beach hotel somewhere I was generally happier with a room that had a safe as often the rooms are at ground level and you are not just dealing with corrupt staff but with walk by opportunistic thieves, and when you are on the beach or in the water you won't be carrying much in the way of cards and cash.

    Another alternative to taking a lot of cash is to pre-send yourself cash to the likes of Cebuana Lhullier (you can do this through companies like WorldRemit who are very trustworthy) then all you do is go collect the cash every few days, there are two advantages with this method one is that you can send as many times as you like and secondly you can collect as many at the same time as you like, only trouble is additional fee's for each send.

    Another disadvantage is you have to collect it all and you won't be bringing any pounds home, also remember that you cannot leave the Philippines with more than 10,000 peso in your pocket.
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  20. CampelloChris
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    CampelloChris Well-Known Member

    I was lucky to still have my shirt on! Spent the lot every time!
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