safe way to carry funds

[expatuk2014]

I still have a Nationwide bank account in the UK as one of my pensions is only £50.00 a month and the company wont send it to the Philippines, i normally let it build up to £200.00 then withdraw it using my Nationwide debit card charges are £2.50 for int withdrawls. Like others have mentioned have a old wallet for the robbers and a money bag around your waist although i have been told the robbers know us rich Kanos do this, which is why if we do need large amounts of cash we always use the brother as our driver and we split the money between us. And yes there are a lot of places that do not take credit cards or debit cards, my advice is if you have to use a ATM m/c then look for a savemore store or Mercury drug stores these are everywhere  or SM where the ATM is in view of the security guards.

 

 

[jpbago]

7 hours ago, bastonjock said:

Hi guys

When i head to the phils in a few months or so ,what is the best way to take your tourist money ,id preferr not to walk around with a couple of grand stuffed into a wallet ,so ideas please?

It all depends.

If you are staying in a nipa hut with a girl and her family that you met last night, wear 6 pocket double button cargo shorts, put everything in your pockets and sleep with your clothes on.

If you are staying in a decent hotel, keep everything in your room safe and just have 2 or 3,000p with you if you are just walking around. If you need to go to BI or a bank, then you will need ID.

[earthdome]

4 minutes ago, expatuk2014 said:

And yes there are a lot of places that do not take credit cards or debit cards, my advice is if you have to use a ATM m/c then look for a savemore store or Mercury drug stores these are everywhere  or SM where the ATM is in view of the security guards.

Good point. Use an ATM inside a bank lobby or other business if at all possible. Periodically there are reports of skimming devices being installed by criminals in ATM's in the Philippines. Less likely a criminal would install skimming devices in a bank lobby ATM. Also have situational awareness, don't get out large stacks of cash if you aren't comfortable with people watching the ATM, etc.

[jpbago]

2 minutes ago, earthdome said:

. Periodically there are reports of skimming devices being installed by criminals in ATM's in the Philippines.

3 foreigners were arrested last week in San Fernando with a skimmer and some blank cards. Last year, a few more in Cebu.

I prefer to withdraw from a cashier in the bank. Even with no account, you can get 49,000p without a phone call from M/C or Visa. If you have deposited to your cards before you left home, then you don't pay daily interest.

[Dave Hounddriver]

8 hours ago, bastonjock said:

what is the best way to take your tourist money

All of above posts.

There is no "safe" way as the thread title suggests but some ways are better than others.  I think I have tried every way suggested in this thread, over the years.  Every one of them has its drawbacks so my advice is to use as many different ways to get at your money as possible.  As an extreme emergency fallback, have some cash available to a trusted friend or family member back home who can send you cash via Money-gram or Western Union.  I have had to use the extreme emergency fallback on 2 occasions in 10 years when all else failed.  Other people have never had to use that option.  If you have enough money and enough different options open to you then it will be a cakewalk.

The funniest (most embarrassing) moment was when I tried to get on a plane with that "2 wallets" trick.  I had my "throw away" in my back pocket with a couple thousand pesos in it and my "real wallet" strapped to my inner thigh.  Well going through security I had to drop my pants and remove the wallet as the security guard got quite "concerned" when I went through the scanner.

[robert k]

2 hours ago, earthdome said:

Less likely a criminal would install skimming devices in a bank lobby ATM. 

So true. The banks hate competition.

[Snowy79]

Get yourself a clarity card from Halifax bank. Any cash withdrawals or payments are made at the official exchange rate not the bank rate. They make the money by you not paying it back quickly. Carry your UK cards with you also but warn them off beforehand that you will be in the Philippines. Obviously carry different cards in different pockets. 

You can bring up to 10,000 php with you without an issue. More if you declare it but 10,000 will see you ok. 

Never let your hard cash get below 5,000 as it's not unheard of for banks to be off line here. 

Don't bring Scottish notes with you. Even though we know it's better quality than the cheap Bank of England Sterling rubbish no one will exchange it. 

[AlwaysRt]

I use the ATM method, cargo shorts, and have had a money clip vs wallet since the 90s so never carry anything in my back pockets. For ATM I only use a bank ATM at the bank, when it is open. Likelihood of tampering is very low and if there is a problem you are at the bank for immediate reporting.

Canada, UK, Aussie... - there are a couple US investment companies (Charles Schwab is the one I use) that refund all ATM withdrawal fees. Is there no similar benefits to be found at your financial institutions?

[jpbago]

 

53 minutes ago, AlwaysRt said:

For ATM I only use a bank ATM at the bank, when it is open. Likelihood of tampering is very low and if there is a problem you are at the bank for immediate reporting.

Do you have ATMs inside the bank? We do not. BDO (and others I believe) have their ATMs outside the bank. There is one security guard but he is inside the bank at night and two guards during the day also inside. Even at SM Bacolod, BDO is inside the mall but their ATMs are outside the bank in the hallway. Nobody is watching the ATMs.

[Dave Hounddriver]

16 minutes ago, jpbago said:

Do you have ATMs inside the bank? We do not. BDO (and others I believe) have their ATMs outside the bank

It would be a bit silly to have the ATM all the way inside the bank as it would only be available banking hours.  I can only guess that you mean in a secure area that is inside the bank "area" but separated from the bank itself so that you actually have to go inside the building but not the bank.  Make sense?

And the answer is yes at Security Bank, Dumaguete and one Metro Bank location I can think of.

Then we get to the situation where the actual ATM is IN the bank but the customer access to the machine is through the wall of the bank from the outside.  Are you calling these machines "outside the bank"?  There are other, stand alone kiosks that are totally separated from the bank and those are the ones I try to stay away from, except in the mall where they are soooooo handy I cannot resist.

In all of these situations there is usually a security guard somewhere nearby but not always visible and not watching you use the machine.