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Money exchange

Binghamton, New York
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Money exchange

As is clear from my other post here (and thanks again for the thorough replies), I'm traveling to Subic in April.

I have one other thing which I'm not sure of...that is what is accepted tender there. I have a Capital One credit card (they don't charge typically for currency exchanges on purchases), but I just mention that...don't intend to depend on that of course.

Is American money accepted there? What is the best method/place to exchange money for pesos, and where will I need pesos anywhere from Manila to Subic?

Puerto Galera...
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1. Re: Money exchange

You will need to change your $ into pesos, I am sure a taxi driver in Manila would gladly accept $20 for a 250 ($6) ride and many hotels will accept credit cards with a 6% fee but dont expect your 7/11 or burger joint or bar to take them. I am sure there are money changers in Olongapo - most likely in Barrio Barretta but cant say exactly where - Even if there are not Angeles is just over an hour away and there are many changers there.

Binghamton, New York
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2. Re: Money exchange

Gothcya thanks. Does the Manila airport have a place to change money within? I don't mind finding a spot later, but seems like it would be easier to do it right when I got to Manila...and that there must be someplace there to do it.

Leyte Island...
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for Cebu City, Cebu Island
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3. Re: Money exchange

Does the Manila airport have a place to change money within?

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There are 4 international terminals in Manila. For the best advice, you need to say which terminal your flight will land at.

Binghamton, New York
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4. Re: Money exchange

Ah, well such detail I commend hehe. I'm arriving at Terminal 1...at 12:50 in the morning, by the way. This does leave me plenty of time to loaf about, get anything done, in order to check in in Subic later that day, so I'll have time...just inexperienced :-P

Leyte Island...
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for Cebu City, Cebu Island
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5. Re: Money exchange

There are money changers to the right after customs. They will not all be operating at that time of the morning but still shop around for the best rate from the money changers that are open.

There will be no where for you to loaf around at Terminal 1.Best to catch your transport straight to Subic, in my opinion..

Binghamton, New York
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6. Re: Money exchange

Thanks again. One other thing I was wondering...I'm going to be there for about a week, including bus to and from Subic, meals and such. So I was wondering about how much I should bring.

Also, now that I think of it, are traveler's checks the best way to go, and to exchange them gradually so I don't have a cash hoard all at once? I've heard some places have ATMs too. I have an NBT bank account. There isn't a way to withdraw from say Subic, is there?

Leyte Island...
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for Cebu City, Cebu Island
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7. Re: Money exchange

Do not even think of using traveller's cheques.

There are ATM machines all over the Philippines and at Terminal 1 at the airport in Manila. Instead of going right for money changers after customs, go left for ATM machines.

Here is the location of ATM's in Subic

http://www.subic.com/directory.php

Just be aware that mostly you will only be able to withdraw P10,000 at a time and have to pay a P200 fee to the bank for each withdrawal. The P200 fee is added to your withdrawal amount, Meaning, if you withdraw P10,000, the entry on your statement will be P10,200.

If you have time in Manila. Go to HSBC. They dispense up to P40,000 in a single withdrawal and do not charge a P200 fee. At least they do not charge me.

Binghamton, New York
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8. Re: Money exchange

Thanks again for the help. So will my NBT card work and take money from my US account, convert it and all, or do I have to set up some other account, or do something in advance?

Puerto Galera...
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9. Re: Money exchange

it depends on whether your card is mastercard or visa - some banks take visa some mastercard some both. I it is neither then no.

Binghamton, New York
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10. Re: Money exchange

My NBT card is a Visa. I just thought it might be complicated by currency exchanges and such, but if a debit will pull it right out of my bank account and come out as pesos, that's worth the piddly fee hehe