Quote:
Originally Posted by etsys
if first time, change in SG and go, than looking for money changer in a new town.
If not first time, and if you know places in AC, you can get better rate sometimes.
Personally, I change in SG as the maximum allowed increased to 50k peso .. unless I need to spend more than 50K
As I posted before, I try to use Credit card for hotel, which is major expense, and keep a 1,000 S$,.
Only last resort, withdraw using SG ATM in PH, as each withdrawal incurs 5$ + 200 peso surcharge and maximum only 10K per withdrawal. Supposedly BPI is free if using DBS Card (DBS own shares in BPI I thin), but every time I tried, BPI said insufficient balance :P I go to BDO ATM and can still get my money.
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Best rates are on the main street to change money, every money changer has rates posted, and they update often.
Debit cards are the best to pull cash from ATM as there is not fee from bank, just from the ATM use (200 pesos) so find the one with that you can draw the max with one transaction (lots have 10,000 max draw at one time). BPI can pull 15K with one transaction, and Citi can pull 20K.
Also try to use cash at the hotel, as most offer 10% discount if using cash. Not all hotels have a sign that says 10% if using cash, but if you ask the front desk manager, they will almost always give you discount if you pay in cash.