money, ATM and exhanging

[thinkerlove0212 158]

I am looking for a better way to handle and get cash and exchange money especially in Davao. My first trip there I had problems exchanging money because the 100 dollar bills were not "straight, no cuts, bends etc". Then on second trip to Manila it was not much an issue but I did bring new bills and protected them. The big problem I was having is the ATMs. Unlike in US we withdraw from checking savings or credit. I don't understand what they ask on the machines for which selection to make. Afraid after 2 failed attempts it will eat my card. Then the amount you can withdraw is small in each transaction. My fiance didnt understand what I was trying to say. After 2 rejections I feared my card would get taken by machine and I would be screwed. Why they don't have swipes on their machines is anybodies guess! So, the big question is can I just use XOOM and send money to myself. This would allow me to not worry about carrying so much cash and since I dont have credit card I dont have to worry about losing everything with debit card?

[F & J 21]

I am looking for a better way to handle and get cash and exchange money especially in Davao. My first trip there I had problems exchanging money because the 100 dollar bills were not "straight, no cuts, bends etc". Then on second trip to Manila it was not much an issue but I did bring new bills and protected them. The big problem I was having is the ATMs. Unlike in US we withdraw from checking savings or credit. I don't understand what they ask on the machines for which selection to make. Afraid after 2 failed attempts it will eat my card. Then the amount you can withdraw is small in each transaction. My fiance didnt understand what I was trying to say. After 2 rejections I feared my card would get taken by machine and I would be screwed. Why they don't have swipes on their machines is anybodies guess! So, the big question is can I just use XOOM and send money to myself. This would allow me to not worry about carrying so much cash and since I dont have credit card I dont have to worry about losing everything with debit card?

The last time my hubby and I were in the Philippines, we made sure to bring as much cash as we thought we would need and then a debit card but only for emergencies (we notified our bank that we would be going to the Philippines on those dates so they wouldn't flag the transactions). I was also wary of using credit or debit cards because I didn't want to risk the ATMs eating our cards.

If I remember correctly, when you withdraw from ATMs in the Philippines, they give you an option to withdraw from your Savings or Current account (current account refers to your Checking account).

I think you can use XOOM or Western Union or maybe even wire transfer from your US bank to get money if you need more?

[thinkerlove0212 158]

The last time my hubby and I were in the Philippines, we made sure to bring as much cash as we thought we would need and then a debit card but only for emergencies (we notified our bank that we would be going to the Philippines on those dates so they wouldn't flag the transactions). I was also wary of using credit or debit cards because I didn't want to risk the ATMs eating our cards.

If I remember correctly, when you withdraw from ATMs in the Philippines, they give you an option to withdraw from your Savings or Current account (current account refers to your Checking account).

I think you can use XOOM or Western Union or maybe even wire transfer from your US bank to get money if you need more?

Thanks. I did notify my bank of all my plans. I believe I tried both but I think then I enter too much because they only allow so much per transaction.

[F & J 21]

Thanks. I did notify my bank of all my plans. I believe I tried both but I think then I enter too much because they only allow so much per transaction.

I think the PER TRANSACTION LIMIT might be something like PHP 10,000 and then a MAXIMUM DAILY WITHDRAWAL LIMIT of PHP 50,000 for the major local banks (BPI, BDO, Metrobank - not sure about other banks) so you can withdraw PHP 10,000 for a maximum of 5 times in one day. You might want to verify with the bank about the specific ATM's set limits before you try it though. It's been almost 3 years since I last tried to withdraw money from a Philippine ATM. ^__^;;

Hope that helps!

[Bri & Zai 0]

I've had some issues using my debit card at ATMs in malls etc, but when I go to a bank and use their ATM it has always worked fine.

Edited January 6, 2012 by Bri & Zai

[TiklingGuy 211]

I was able to pull 12,000PHP at a time at the ATM's. I had to due several times to get the amount i needed. Make sure you call your back to find out what the LOGO's on the ATM need to be in order for you to do it.

[A and T 82]

banking is a complete disaster in the philippines. So here is my advice depending on how long you plan to stay.

if you are going to stay for a several months or more, get a bank account. Sadly they will just give you an "atm card" which is useless at most malls and stores (they wont accept them half the time) So you get to go to atms and withdraw big amounts of cash (10k at a time) and carry it around (what fun huh)

BDO is fairly popular and some places will accept the ATM card as a debit card, but they are difficult to deal with.

So mostly you get stuck standing in line at ATMs everywhere you go because the country refuses to use debit cards. Also, these ATMs are never in an easy place, or more than one or 2.

Just wait until you try to go clothes shopping, and find out the sizes are only a "standard size" every where you go, no matter what it costs.

Unionbank offers an EON card, which is a real debit card and can be used online with paypal, and at Atms etc. But they dont have many easy branches to access. and wont allow joint accounts on the EON card

[thinkerlove0212 158]

I was able to pull 12,000PHP at a time at the ATM's. I had to due several times to get the amount i needed. Make sure you call your back to find out what the LOGO's on the ATM need to be in order for you to do it.

Yes learned that first time when I found a Bank Of America with all the different mastercard logos on it. I almost ran myself out of cash and problems exchanging bills not in good shape... a small shop took forever, a big bank wanted blood( No seriously I thought thats what it would come to for a 100 dollar bill!), Her mom got some money exchanged. Just trying to avoid carrying so much cash. I think the Xoom will be fine because I can put in whatever or send myself money at anytime and is ready fast

[thinkerlove0212 158]

banking is a complete disaster in the philippines. So here is my advice depending on how long you plan to stay.

if you are going to stay for a several months or more, get a bank account. Sadly they will just give you an "atm card" which is useless at most malls and stores (they wont accept them half the time) So you get to go to atms and withdraw big amounts of cash (10k at a time) and carry it around (what fun huh)

BDO is fairly popular and some places will accept the ATM card as a debit card, but they are difficult to deal with.

So mostly you get stuck standing in line at ATMs everywhere you go because the country refuses to use debit cards. Also, these ATMs are never in an easy place, or more than one or 2.

Just wait until you try to go clothes shopping, and find out the sizes are only a "standard size" every where you go, no matter what it costs.

Unionbank offers an EON card, which is a real debit card and can be used online with paypal, and at Atms etc. But they dont have many easy branches to access. and wont allow joint accounts on the EON card

Suprisingly had no problems at small stores, 7-11 or malls in Davao or manila with debit card, I believe it was BDO that took an hour and DNA of my son to exchange a 100 bill

[th and jv 3]

... although we maintain accounts in the philippines, we normally send money to ourselves via xoom - wherever we are - whether philippines or USA... safe and fast !!!.. just a piece of advise.... use a very secured internet connection when you do that.... choose a plug - in , not a wi fi...

we are comfortable having this transaction with a bank than any other institution...

Edited January 6, 2012 by th and jv

[thinkerlove0212 158]

... although we maintain accounts in the philippines, we normally send money to ourselves via xoom - wherever we are - whether philippines or USA... safe and fast !!!.. just a piece of advise.... use a very secured internet connection when you do that.... choose a plug - in , not a wi fi...

we are comfortable having this transaction with a bank than any other institution...

Thats what I wanted to here Thank You! Even after I left and atarted the paper work My wonderful Fiance was afraid to use net cafe for our paper work and my info. She and her dad have been wonderful in protecting my safety. I am bad with computers and everything and she has been so helpful.

[thinkerlove0212 158]

... although we maintain accounts in the philippines, we normally send money to ourselves via xoom - wherever we are - whether philippines or USA... safe and fast !!!.. just a piece of advise.... use a very secured internet connection when you do that.... choose a plug - in , not a wi fi...

we are comfortable having this transaction with a bank than any other institution...

Strange thing is I said I could just hop on a computer or use my phone wi-fi and immediately thought to my self ...stupid! But at least I know to use secured connection even though its slow there

[DouglasFiel 53]

Although, I have had issues with some ATM locations... Generally you can find them all over the Philippines... Just get to know

where they are and the limits for different banks... Also, use an ATM that refunds the ATM fee (I use an ETrade ATM card)...

Getting stiff lately (200 or 250 pesos for foreign ATM cards).

I usually take a few hundred dollar bills and use them as last resort... Use a money changer, they are all over and quick.

I was in several remote locations over the past few years, and have only needed to cash in dollars once. Just plan in

advance. Almost everywhere there is an airport/transportation hub/shopping malls, even in provincial areas you will find

ATMs and Money Changers.

Regards,

[TeapotGirl 66]

I don't understand what they ask on the machines for which selection to make. Afraid after 2 failed attempts it will eat my card. Then the amount you can withdraw is small in each transaction. My fiance didnt understand what I was trying to say. After 2 rejections I feared my card would get taken by machine and I would be screwed. Why they don't have swipes on their machines is anybodies guess! So, the big question is can I just use XOOM and send money to myself. This would allow me to not worry about carrying so much cash and since I dont have credit card I dont have to worry about losing everything with debit card?

Just make sure first to match up your card to the ATM machine if there's Visa or MasterCard Logo.

If the card is rejected: No money in the machine, it's a network error, you're hitting a wrong button, there's problem in your account etc.

ATM machine is generally English and each bank got different buttons elsewhere but they have all similar selection and functions. BDO and Citibank machines ejects your card right away before it asks a pin number. Just hit "withdrawal or withdraw" if you're sure if you have enough. You can get a maximum of $227 or P10,000 in one transaction. You'll pay a flat fee of P250/ $5-7 for every transaction. If you have any issues, just a banks security guard or any bank personnel to help you out (cover up the pin number of course).

Ask your bank too what is the maximum transaction in a day. Tell them to not put a an "automatic lock" with it (if they have such a thing). This happened to my fiance, that he has to call his bank's fraud line every time we hit his allowable transaction in a day P20,000/$455.

In Metro Manila area, only Wendys and Burger King out of fast food chains accept credit/debit cards. Gas Stations, malls accepts credit/debit cards. Just make sure you ask first.

Sending yourself a money through Xoom is a good idea too.

[kev_n_jena 89]

We xoomed money to my wifes father last trip (2011). We were in N. Samar and I couldn't find an ATM that worked. I also had a terrible time finding a place to exchange my nice crisp newer $100 bills. We drove around half the day before we finally found a place. We ended up exchanging a $1000 when we finally found one. That made me nervous too, riding 30 miles back to her folks house in a tricycle at night with 43,000 pesos in my pocket. Evidently there are night time highway robberies taking place around there these days.