Are you worried about money changers in the Philippines? Most countries you will visit outside of your home country will often require you to exchange your currency for the local currency. Often times if visiting a third-world country like the Philippines, you won’t always be able to rely on using your bank or atm card especially if your bank is not found in that particular country. Don’t know how to exchange your currency or even where to go? In the video below, find out how to keep your money safe and get the most out of your exchange rate when traveling to a third-world country like the Philippines.
Money Exchangers in the Philippines
Many people worry about changing money while in the Philippines. This is wise.
You see, the Philippines is a third-world country. As we’ve said before, the poverty here is striking. If you haven’t been to a developing country before, it will probably shock you.
Despite the problems, we still know how to have a great time here nonetheless. Don’t let your worries stop you from coming and enjoying this wonderful country because it truly is a great and fun place that you need to see first hand to truly get the full experience of this place. However, be aware of the problems and be street-smart everywhere you go.
When it comes to money changers in the Philippines, you need to be careful. Don’t do it at the airport as they’ll rip you off and often times the exchange rate is inflated by quite a large amount due to the fact the airports know that many unknowing travelers will go with this option for sheer convenience’s sake. Forget about banks as they don’t exchange money.
Most of the time, you’ll need to go to a Philippines Money Exchange shop, like in the video above which you can usually find in almost every tourist destination found around the Philippines. One of the first things you will want to check for is that the money changer is busy with other customers as this is a good sign knowing that others trust this establishment enough to use their service. As a general rule for most Money exchangers found not just in the Philippines, but any third world country is that If the shop is busy, it’s probably safe. They’re also likely to have enough cash to change your money properly as this may be more of a problem during your travels if you try and wait to exchange a large amount of money in the province, chances are they won’t have enough currency depending on the location and its popularity with other tourists traveling that particular area.
In the video above, you’ll see one of the busy money changers in the Malate / Ermita area which is popular amongst many travelers as this is part of the biggest metropolitan city in the Philippines. A lot of money changers from the province come into Manila to use this one. They’re honest and they’re busy (which again is a good sign and what you want to find when looking for a store)
In this area, there are hundreds of exchange shops dotted all over this area, but you need to be careful at the same time as some will try and take advantage of you for an opportunity to make a little extra off the transaction. Money changers in the Philippines play all sorts of games. For example, one trick they’ll do is take your money and disappear. They’ll say that they’re going to check with the boss if they can change your money. When they come back, they’ll give you your money back but it’ll be counterfeit money. Another trick is counting the money so it looks correct, but really, they’ve taken a chunk out. To avoid this problem, count your money while you are still at the counter. Don’t listen to any stories from the money changer about not being able to count it there. Yet another trick is counting the money and sliding it across the counter. As they slide it across the counter, a small slot on the top slices off a chunk of bills. There are many more games that they play so just be aware and keep a steady eye on your transaction.
To avoid problems with money changers in the Philippines, only use busy money changers. Most shopping malls have money changers. Also, there are ATMs in most tourist areas, so if you have an ATM card, you’ll be able to withdraw cash in most places.
Foreign ATM cards in the Philippines
It’s worth noting here about the options you have when using your foreign ATM card here in the Philippines as this ties in with the currency exchange options you have while visiting the Philippines. Keep in mind that the Philippines is a third-world country and that oftentimes you may find it difficult to withdraw money from an ATM machine in some of the smaller provinces outside of the major cities. Quite often some of these ATM machines will be out of order or often times not have any currency to give out to their patrons due to a number of reasons unknown. It is always recommended that you carry cash on you during your travels to any destination outside of a major city in the Philippines as the local ATM machines are not very reliable and should not be used as a guaranteed option for withdrawing money when you arrive at your final destination.
With a bit of pre-travel planning and some careful due diligence on your part, you can plan on enjoying your travels here in the Philippines with some peace of mind knowing that you will have all of your affairs in order. When it comes to your currency exchange and financial options while traveling around the islands, you now have a head start in planning the best vacation in paradise. If you have any further questions or concerns on the topics discussed here, or you would like to stay at an amazing Resort close to Manila, and offering the best of the islands near Manila, come to say hello to us as BADLADZ Adventure Resorts and we will be more than happy to help make your next vacation in the Philippines one you will never forget.
Cheers,
Sean
