Take some Sterling and get your loved one to change it at the exchange, she will know the best one to use to get the best exchange rate. Take a credit/debit card for security of course.
Debit card. You will be charged a transaction fee, though. Plenty of ATMs, For VISA (Barclays) debit card I find that Metrobank are the best followed by BPI. Landbank do Mastercard iirc Not sure about the others. Other ways of doing it - you may find yourself in a town with no ATM in the boondocks (American word from the Tagalog "bundok" - mountain). But there will always eb a pawnshop. The pawnshops actually do most of their business on money remittances not actually lending om pledges. You can set up an account with World remit and send money to yourself at any branch of Cebuana L'Huillier, etc. But to do this you do need Internet - this you will find at an internet cafe if there is no wifi.
One word of advice, you might want to inform your bank you are going to the Philippines to avoid your bank cards being denied. I know with NatWest I just go online and tell them.
This is very important, my fiance informed his bank he is going to the Philippines and will be staying for days.First and second transaction was successful,but the third time was already denied(with a note:card is stolen and is used in the Philippines ) lol funny! So he has to phone UK bank again , takes 10 mins i think of talking /confirming , before he was allowed to draw again. Make sure you have the name of the person you talked to in the bank and can get back to him in case .
If your card is denied when in the Philippines you can phone your card issuer using the telephone number on the back of the credit/debit card, they can unblock your card whilst on the telephone. When abroad I usually get an automated message from my bank asking if I have made certain transactions, its not just in the Philippines where you might encounter a problem using your card, its anywhere outside the UK. My NatWest bank card was recently blocked when I was working on a oil rig and I used it in the duty free shop there.
Pounds will be best, if you take USD then you will already have been charged to change it, so in effect you will pay twice to change your money. All currencies are acceptable of course in the Philippines as there are so many OFWs returning to the Philippines to visit family from all over the world.
Usually when I travel nowadays I change £100 with the buy back guarantee and end up not spending it as I use a credit card all the time that doesn't charge for the privilege of using it. It annoys me how much Travelex for example charge, they say its commission free but its a big con because they just hit you with a poor exchange rate. Definitely do not change your money at the UK airport, always wait until you are in your host country, you normally get more for your money.
Cheers I'll take pounds and card as I'll be in bais city near dumaguette ,any other advice u got timmers generally about Philippines be appreciated it'd my first trip thanks ,domestic flights ?
Take GBP, try to get clean £50 notes from your bank, they might need to be ordered in advance, but they are my favourite method of foreign exchange. You should be able to exchange GBP into PHP at about 2% charge maximum, even if you use a Western Union office, just shop around for the best rates. If you use a UK credit/debit card to withdraw from an ATM, you will be screwed at both ends: By the UK bank charges: Typically 2.99% cut on the FX rate And typically 1.5% of the withdrawal amount for getting cash, typically minimum £2.00. By the Philippine bank charges: Might be 200 Peso per withdrawal, made worse by low withdrawal limits. Don't be an idiot and pay for your coffee with a UK debit card, not only is there the typical 2.99% cut on the FX rate, there may well be a "non-sterling purchase fee" imposed by your bank, perhaps £1 per transaction. Cash is King, load the figures into an Excel spreadsheet and you will see what I mean!
What about £20 notes are they just as good ? I'll take debit card just for back up,,my gf dads said we can use his account ,have his bank card
Yes £20 is OK, but make sure that you get clean notes, it makes everything easier. If you take a UK debit card check out the charges, better to be aware in advance.
If you change your £'s in Dumaguete, Optimum money changer is best rate. Directions.... go to the bell tower, your gf should know where it is, cross the main road then it's the next block, turn left, 50 meters on your right, you will see a guard. it's only 2 minuets from the Bell tower. never ask anyone about changing money in Dumaguete. There's money changers "guys" on the street, i used to use them, but as a last resort.
Trust no one, not even yourself I always count the cash in my wallet and account for all daily expenditure, assigning it to different categories in an excel spreadsheet. My "stash of cash" is stored in envelopes with the currency, the value of the contents, and the date, written on the outside of each envelope. The envelopes are stored in a locked money pouch along with other important items such as my passport. The money pouch is stored in my laptop backpack, the zipper of the backpack is secured by a steel cable combination lock, the backpack is stored in my hotel wardrobe. When I transfer money from my stash to my wallet I change the amount written on the envelope, and update the spreadsheet to reflect the transfer.
Yes, I agree with what has been said here. Phone your bank before you go and tell them when and where you are going so they will not block your cards when you are in Phils. I take cash over in £50 notes then change £50 at the airport money changer on arrival there. This is enough to get me to the hotel by taxi. Then I visit a few money changers in Cebu City and then choose the one with the best rate. I always use a small plastic container to carry notes and the hotel key in. I bought this in a dive shop years ago, it is waterproof even when I dive and it has a piece of string attached and will float also. Quite a lot of rolled up notes go inside and the key drops inside easily.
