Traveler's Checks

[Thunderstruck 1]

Hello,

I have been to the Philippines 3 times already but never needed to bring large amounts of cash so never bothered with traveler's checks. If I ran out of funds I used my ATM and all was good.

This time, I am going there to bring my fiancée back to the USA with me and we will have need of a larger amount of cash. I don't want to carry more than 1000 USD with me for obvious reasons. I wouldn't do that if I were traveling to Boise, Idaho either.

Has anyone used American Express Traveler's Cheques or something else? I want to protect my money as well as have it accessible when I need it. I will be in 3 different provinces and do not want to carry the cash to any of them. ATM's are out due to high transaction fees with low maximum withdrawal limits.

Can I just cash a travelers cheque into pesos at a BPI, BDO or China Bank branch for any reasonable amount? (Not more than 2000 USD maximum)

Thanks in advance!

[lee&jeniebee 23]

Hello,

I have been to the Philippines 3 times already but never needed to bring large amounts of cash so never bothered with traveler's checks. If I ran out of funds I used my ATM and all was good.

This time, I am going there to bring my fiancée back to the USA with me and we will have need of a larger amount of cash. I don't want to carry more than 1000 USD with me for obvious reasons. I wouldn't do that if I were traveling to Boise, Idaho either.

Has anyone used American Express Traveler's Cheques or something else? I want to protect my money as well as have it accessible when I need it. I will be in 3 different provinces and do not want to carry the cash to any of them. ATM's are out due to high transaction fees with low maximum withdrawal limits.

Can I just cash a travelers cheque into pesos at a BPI, BDO or China Bank branch for any reasonable amount? (Not more than 2000 USD maximum)

Thanks in advance!

I used travelers checks before I used an ATM/debit card, I can live with the ATM fee, it's just so much easier than the "monkey business" of using travelers check..

[Ugly_American 11]

why do you need so much cash to bring her back? Unless she's shipping a ton of things back. Hmm, i guess mine might do that also, but I hope she can pack it all in a few boxes. Maybe send a few balikbayan boxes back here, cost i dunno $75 each? I know Johnny air offers that service. Their office in SF is always filled with boxes going to Phil.

[Thunderstruck 1]

why do you need so much cash to bring her back? Unless she's shipping a ton of things back. Hmm, i guess mine might do that also, but I hope she can pack it all in a few boxes. Maybe send a few balikbayan boxes back here, cost i dunno $75 each? I know Johnny air offers that service. Their office in SF is always filled with boxes going to Phil.

Several reasons... We plan to buy a lot of things there for her to bring here because its so much cheaper there. This includes wedding dress, our wedding rings, warm clothing (as much as possible/available) and things she just can't get here that she likes. We are also island hopping a bit to visit her relatives. The big one is we are buying a lot to build a house on for when we visit which will be at least once a year. Its only 2K USD but thats more than I want to carry if I can help it. I can use credit cards for the island hopping but most everything else won't take plastic unless we pay premium at SM or Robinsons.

Yes I realize the lot can't be in my name and that is fine. Kano's are not permitted to own land in the Philippines. It will be in her name and the 2k includes legal fees to make it on the up and up.

Edited March 9, 2011 by Thunderstruck

[Tim/Mav 305]

I used travelers checks before I used an ATM/debit card, I can live with the ATM fee, it's just so much easier than the "monkey business" of using travelers check..

As I remember it: At some point you are going to be carrying cash. Either at a ATM or cashing a travelers checks. I choose to make My bank aware that I will be traveling there from this date to this date so they would allow ATMs to go through. Your going to pay a fee anyway somewhere along the line. I believe (not sure) that a travelers check is going to be subject to the daily exchange rate and you may have to search for the best deal for your money. (Again, I'm not sure.) It is well known that ATMs in the Phils sometimes run out of money and you have to find another one or wait a day or two. I think Banks will reconize travelers checks but not businesses such as the simple markets. Get a Emergency telephone number for your Bank here whatever you do anyway. I used ATMs and felt it was worth the Fee. Nothing is free in this world. I would use my Credit Card for HUGE purchases and small Pesos for the rest. In my profile pic I wore a Money Belt and kept $300.00 USD there all the time and did not have to declare it since it was less than $10.000.00 (For an Emergency)...... As you know, take about $200.00 USD in Pesos for WHATEVER! CONGRATS ON BRINGING YOUR LIFETIME BACK HOME WITH YOU... Tim/Mav

[sunandmoon 450]

I only brought travelers checks to the Philippines once and found them difficult to exchange. I wound up cashing them all in at BPI.

[Tim/Mav 305]

Several reasons... We plan to buy a lot of things there for her to bring here because its so much cheaper there. This includes wedding dress, our wedding rings, warm clothing (as much as possible/available) and things she just can't get here that she likes. We are also island hopping a bit to visit her relatives. The big one is we are buying a lot to build a house on for when we visit which will be at least once a year. Its only 2K USD but thats more than I want to carry if I can help it. I can use credit cards for the island hopping but most everything else won't take plastic unless we pay premium at SM or Robinsons.

Yes I realize the lot can't be in my name and that is fine. Kano's are not permitted to own land in the Philippines. It will be in her name and the 2k includes legal fees to make it on the up and up.

Thunderstruck, this was not your Original Question: Now your Donald Trump buying a $2000.00 Lot. LOL.. Now that you added more information: Other Senior Members can Add. I'm not sure how the Purchase/Payment for the Lot would be best Closed. I'm not Qualified in this matter but wish you Good Luck.

[I AM NOT THAT GUY 5,715]

I only brought travelers checks to the Philippines once and found them difficult to exchange. I wound up cashing them all in at BPI.

Same here. You have to have the original receipt with you, the bank will verify each check, and will charge like 10-15% to cash them, at the bank exchange rate.

[damulag 26]

My first trip I brought traverlers checks and it was such a pain to cash them. Next time I took $100 bills and just exchanged them and used my credit card for purchases from companies that took them and ATM if I needed extra cash. If you have a capital one visa they do not charge a foreign exchange fee, most credit cards add on 1% to 3% on top. You might consider sending a moneygram to your self before leaving and picking it up in the Philippines.

[rheanick 42]

Hello,

I have been to the Philippines 3 times already but never needed to bring large amounts of cash so never bothered with traveler's checks. If I ran out of funds I used my ATM and all was good.

This time, I am going there to bring my fiancée back to the USA with me and we will have need of a larger amount of cash. I don't want to carry more than 1000 USD with me for obvious reasons. I wouldn't do that if I were traveling to Boise, Idaho either.

Has anyone used American Express Traveler's Cheques or something else? I want to protect my money as well as have it accessible when I need it. I will be in 3 different provinces and do not want to carry the cash to any of them. ATM's are out due to high transaction fees with low maximum withdrawal limits.

Can I just cash a travelers cheque into pesos at a BPI, BDO or China Bank branch for any reasonable amount? (Not more than 2000 USD maximum)

Thanks in advance!

Traveller's check would be hard to exchange in the Philippines. Its better to break down your 2000 dollars to 20s of 100 dollars. It would be easier to find money changer with dollars. And you would have a higher rate if you exchange in 100s.

[Thunderstruck 1]

Thanks for the advice everyone. I like the sending a moneygram/western union to myself for the 2K and carry some cash and use my ATM. I know sending the money is reliable as I have done it a few times already.

[tallcoolone 102]

Hello,

I have been to the Philippines 3 times already but never needed to bring large amounts of cash so never bothered with traveler's checks. If I ran out of funds I used my ATM and all was good.

This time, I am going there to bring my fiancée back to the USA with me and we will have need of a larger amount of cash. I don't want to carry more than 1000 USD with me for obvious reasons. I wouldn't do that if I were traveling to Boise, Idaho either.

I would say the average traveler to Philippines will need at least $2,000, that is just pocket cash. I always carry $100 bills and make sure they are not torn or marked on since money changers and/or banks don't want to exchange US currency that has tears or marks on them.

I would carry about 3K in cash, and Western Union yourself a couple of Wire Transfer waiting for you when you need them

[tallcoolone 102]

Yes I realize the lot can't be in my name and that is fine. Kano's are not permitted to own land in the Philippines. It will be in her name and the 2k includes legal fees to make it on the up and up.

I have heard that if your wife dies then you can own the land in Philippines