Withdrawing Stirling From Pi Atm's?

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Posted

Although I live in Cyprus I still Bank in the UK. If I withdraw anything other than Stg from my bank account when travelling abroad my bank gives me a pretty poor rate of exchange and then charges me a foriegn commission fee to boot.

Soooh 1/ Can I withdraw Stg. in the PI's?

            2/ If not, what is the most favourable currency to bring with me when I visit please? 

Thanks in anticipation,
           
               There's-a-chance.

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Posted (edited)

Not a hope.  The only currency coming our of Philippine ATMS is Pilippine Pesos. 

 

EDIT:  If you bring your currency in large denomination bills you can exchange cash for cash at numerous money changers in any major city.  The rates are better than bank rates.  US$ are favored but there are no problems with any major currency.

Edited by Dave Hounddriver
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Posted

Whatever currency you bring, make sure it's large denomination new or nearly new banknotes. I've seen a reasonably good-looking US$100 with a small rip refused for exchange.

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Posted

Not a hope.  The only currency coming our of Philippine ATMS is Pilippine Pesos. 

 

EDIT:  If you bring your currency in large denomination bills you can exchange cash for cash at numerous money changers in any major city.  The rates are better than bank rates.  US$ are favored but there are no problems with any major currency.

 

Not a hope.  The only currency coming our of Philippine ATMS is Pilippine Pesos. 

 

EDIT:  If you bring your currency in large denomination bills you can exchange cash for cash at numerous money changers in any major city.  The rates are better than bank rates.  US$ are favored but there are no problems with any major currency.

Thanks for that Dave Hounddriver, that helps me.

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Thanks for the tip Guy F, pristine Bank Notes it is then!

 

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One last comment on currency.  It is against the law to carry more the THE EQUIVALENT OF $US 10,000 when entering Philippines and that has been designated as a family limit so all family members traveling together must be carrying less than that OR declare it on arrival which may or may not cause some problems.  In addition, it is against the law to carry more than 10,000 pesos in Philippine cash when entering or leaving the country.

 

I don't make this stuff up, seriously, but don't ask me to research where I heard that. . .  I heard it from many sources so if you were planning to bring in stacks of cash then you should check that law out.

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Posted

Whatever currency you bring, make sure it's large denomination new or nearly new banknotes. I've seen a reasonably good-looking US$100 with a small rip refused for exchange.

This is very true. I had some nice $100 bills to exchange for Pesos but they only accepted the nice new ones at my bank. I had to exchange the near new ones at a Money Changer at a less exchange rate.

Just bring what you need and leave the rest in your bank at home. You can use your ATM card to withdraw money for a small fee.

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Posted

Why would anyone expect to be able to withdraw knives and forks from a ATM machine anyway hmmmm :dance:

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Why would anyone expect to be able to withdraw knives and forks from a ATM machine anyway hmmmm :dance:

Or even a Scottish town!

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Posted

Although I live in Cyprus I still Bank in the UK. If I withdraw anything other than Stg from my bank account when travelling abroad my bank gives me a pretty poor rate of exchange and then charges me a foriegn commission fee to boot.

Soooh 1/ Can I withdraw Stg. in the PI's?

            2/ If not, what is the most favourable currency to bring with me when I visit please? 

Thanks in anticipation,

           

               There's-a-chance.

I sometimes draw cash at a BPI atm using my UK debit card. I have found the rate to be favourable to the current exchange. However, there are two charges to my account totalling £6.80 for the privilege. This is with a HSBC current account.

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