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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. Markham
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    Markham Guest

    Even if you could, what good would it do you? Hotels tend to have Ts and Cs that protect them as much as possible and they would include the condition that the hotel is not responsible for items placed in the hotel's room safe - or indeed anywhere else on hotel property.
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  2. DavidAlma
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    DavidAlma Well-Known Member

    I am with Methersgate on this one. I would not want to arrive or carry around the equivalent of P61,000. I arrive with enough cash to see me through the first couple of days and rely on ATM's and credit cards for the rest of my stay. I know you will lose out a few pounds on fees etc., but as Methersgate says, the peace of mind of not having to carry around or leave in the hotel safe, a load of cash is worth it to me.
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  3. Timmers
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    Timmers Well-Known Member Trusted Member

    Its all about risk management when it comes to looking after your belongings and money, in the Philippines and most other countries.

    If I'm stopping in a 5 star hotel I feel a little more relaxed about using hotel safes as opposed to when I'm forced to stay in a dump. I've never worried about cash being stolen, the two main things are your passport and credit cards, I know from experience that these take some time to replace, especially the passport, it took 8 weeks for me to get a new passport in Brazil when the house I was renting was burgled plus the inconvenience of having to fly to Sao Paulo to get a police stamp put in the new passport so I could use it without entry stamp.

    If you travel a lot then its only a matter of time before you part company with some of your belongings, its "par for the course" I'm afraid :)
  4. SoldierRJ88
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    SoldierRJ88 Active Member

    And neither do her family or her I've never been asked for a penny.
  5. Timmers
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    Timmers Well-Known Member Trusted Member

    And if the family asks for money tell them you are a poor soldier and cannot afford it :)

    I've never given my wife's family a penny and I never will, they have more money than I do between them.
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  6. SoldierRJ88
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    SoldierRJ88 Active Member

    I will haha and same here lol but I will be treating them to a nice meal to celebrate our engagement I just want to take plenty to cover all eventualities and I know card is the best way I'm just not a fan as when I'm away with work I just take enough cash to do me.
  7. Timmers
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    Timmers Well-Known Member Trusted Member

    A celebration for your engagement is different, yes I would certainly put my hand in my pocket for that, and just make sure they accept credit cards wherever the party is being held, you don't want to have an embarrassing moment :)
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  8. SoldierRJ88
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    SoldierRJ88 Active Member

    Yes good point there that would be embarrassing wouldn't wanna be asking her papa to sub me haha that would not be good lol.
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  9. Timmers
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    Timmers Well-Known Member Trusted Member

    It would certainly be a good laugh to look back at, not so good at the time I bet.
  10. SoldierRJ88
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    SoldierRJ88 Active Member

    Yeh and mish would probably laugh about it too haha and no definitely not as just wanna make the best impression I can.
  11. uklove
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    uklove Active Member

    Be careful when carrying large amounts of cash.
    On one occasion whilst sitting on a jeepney I felt a slight rustle on my shorts. The Filipino next to me gave me the 'rabbits caught in the headlights' stare.
    Later on a noticed a surgically neat cut in the outside pocket of my shorts - an attempt to extract my wallet.
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  12. SoldierRJ88
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    SoldierRJ88 Active Member

    I will do and I only plan to take out daily what I think I will need and won't be flashing it about.
  13. DavidAlma
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    DavidAlma Well-Known Member

    I guess thats true Timmers. I have been pretty lucky over the years. Traveled extensively to most parts of the world and the only theft of property I've encountered was in Amsterdam. Felt my jacket being jostled by the person sat behind me in a restaurant. Instinctively felt my jacket inside pocket for my wallet to find it missing. Turned around to see what was going on by which time whoever had been behind me was gone, but I must have disturbed him in the act and he had dropped my wallet on the floor. Thinking that I had a lucky escape, I carried on with my day. It was only later at my hotel that I made a more careful check of my wallet to discover that some cash was in fact missing.
  14. JoshuaTree
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    JoshuaTree Active Member

    If it helps anyone, after my first few trips using a mix of cash and card (costing the weighed exchange rate plus 3% fee per transaction) I switched to a card that's fee-free for overseas purchases and uses the MasterCard exchange rate as long as you choose to pay in local currency. Think it's saved me a bit :)
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  15. SoldierRJ88
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    SoldierRJ88 Active Member

    Th
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  16. SoldierRJ88
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    SoldierRJ88 Active Member

    Thank you.
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  17. Bootsonground
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    Bootsonground Guest

    Might be worth considering opening a BPI express account..They`ll give you an ATM card which you can use anywhere in the Philippines..
    Anyway..Just an idea.
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  18. SoldierRJ88
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    SoldierRJ88 Active Member

    I'm a big lover of cash so I think I'm gonna get 1000 changed here for my hotel and for the first days and then take 1000 in pounds to exchange as and when.
  19. oss
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    oss Somewhere Staff Member

    Will they give a foreigner on holiday that type of account?
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  20. Markham
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    Markham Guest

    Yes but the account will be very restricted with only foreign currency being allowed to credit the account and its ATM card only works in Phillipine ATMs. Also you will almost certainly be required to produce an ACR-I card in order to open the account, which a tourist on a few weeks' holiday will be unable to obtain.

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