ATM limit 10k per withdrawal?? Alternatives?

[Dave Hounddriver]

1 hour ago, scott h said:

Does anyone use travelers checks anymore?

Not in Philippines.  Unless you know of some place that accepts them?

[hk blues]

23 hours ago, Dave Hounddriver said:

Question:  Does your bank allow more than 10,000 withdrawn daily?

Mine does.  On one account I can withdraw 10K in one transaction and 5K on the next (to stay under my CDN$ 500 per day limit).  On 2 other accounts, I can withdraw 3 10K transactions a day.  One is a Canadian account with a 1,000 dollar a day limit.  The other is a Philippine account with 30K a day limit.

I have done this with BPI, Metrobank, BDO and others so the 10K is not a daily limit, for me.  Your mileage will vary.

I can withdraw more at the counter, but Metrobank ATM is 10k per day. I used to be able to withdraw 20k per day from BPI, but another post suggests this has changed - I haven't tried recently so cannot confirm. Both cards are locally issued.

[hk blues]

23 hours ago, Rooster said:

When did the 10K limit with BPI start. I just returned from town, got 20k at BPI no problem.

I have no idea if it has in fact changed - another post stated it had. I was able to withdraw 20k 4 or 5 months ago at a BPI ATM. Perhaps limit is dependent on type of account?

Edited June 20, 2018 by hk blues

[scott h]

6 hours ago, Dave Hounddriver said:

Unless you know of some place that accepts them?

I have no idea, next time we go to bank ill ask. I could be an alternative for some folks

[Gary D]

7 hours ago, Dave Hounddriver said:

Not in Philippines.  Unless you know of some place that accepts them?

Some of the larger hotels used too but the exchange rate was dire. Regarding cards not being accepted by atm's, there used to be two types of machines both showing the visa logo. some machines would only accept local cards and you would need to find the one with an international connection.

I brought both travellers cheques anb an amex card on my first trip, both returned home unused.

Edited June 20, 2018 by Gary D

[KurtVD]

12 hours ago, Rooster said:

Next time, look to the right and you will see "select other amount"  option, another screen will appear then enter 20,000

I know that, and I even wrote in my post why I didn’t do that - because on previous attempts doing that (on other ATMs), I obtained nothing and had to start all over again, so eventually I got tired of it and took what was proposed... ;)

[Tukaram (Tim)]

4 hours ago, Gary D said:

I brought both travellers cheques anb an amex card on my first trip, both returned home unused.

I have not carried traveler's checks in many years, but I do have an AmEx that no one here will accept.  The Discover card works at larger stores/hotels.  The MC & Visa work everywhere.  I use the AmEx online only now.

[KurtVD]

5 hours ago, scott h said:

I have no idea, next time we go to bank ill ask. I could be an alternative for some folks

I’m pretty sure that there’s an alternative system which was supposed to replace Travelers Cheques, but it never really took off, probably because now everybody can get a credit card, since the advent of the prepaid credit cards. 

[Gentleman.Jack.Darby]

16 hours ago, scott h said:

I just had a thought. Does anyone use travelers checks anymore??? I remember Mom and Dad carrying around lots of them when we went on long trips. If memory serves they are insured and all that. Could that be a possible solution?

I looked into American Express travelers checks awhile back and they would be useful in only the worst emergency situations.

In my part of the U.S., one can only get them at certain banks and then only at certain lbranches and most banks charge a fee to get them, usually 1 or 2% of the value.

Some credit unions offer them at no charge.

A major problem with getting them is that's it's not easy to get them in high denominations - that's important because when cashing them abroad, some foreign banks charge a fee, usually the same amount as an ATM withdrawl, for EACH check; in the Philippines, that's PHP 250 (USD 5) and in Thailand THB 200 (6.50)

It's become much more difficult to find places abroad to cash them; usually it's only the bigger banks, major hotels, and some currency exchanges in the largest cities.

And, worst of all, the exchange rates are very poor - not competitive with the exchange rates given by the major credit card networks such as VISA and Mastercard.

Probably only worth carrying for the most paranoid traveler who dwells on worst case disaster scenarios - a better option for most (less paranoid) folks would be a pre-paid debit card such as the ones offered by some federal credit unions or, for those who need high balances from a non-U.S. issuer and are willing to pay for it, the T-24 Black card. Probably never run into a problem with that one, but it isn't inexpensive.

 

[Eddie1]

There are 2 separate BPI ATM locations in Dumaguete.  Both locations will give 20,000 peso per withdrawal at a charge of 250 peso.  As mentioned by Rooster, you have to type it in the 'other amount' box.  If you choose not to do this then the most you can withdraw is the 10,000 peso option, this will still cost you 250 peso.