Some of the questions we get most from travelers who are going to travel around the Philippines are: how do I handle money in the Philippines? Is it better to bring cash and exchange it? Can I withdraw money from ATMs in the Philippines with no fee? Can I get pesos in my home country?
Don’t worry—here you’ll get clear, up-to-date answers for managing money in the Philippines.
Money in the Philippines: the Philippine peso
The official currency of the Philippines is the peso. In Filipino it’s called piso and abbreviated as PHP. It may surprise you to hear such a Latin word in a Southeast Asian country. The reason is simple: the origins of the Philippine peso go back to the Spanish eight‑real coin and the Mexican peso.
Right now, money in the Philippines is divided into banknotes of 20, 50, 100, 200, 500 and 1,000 pesos and coins of 1, 5, 10 and 25 centavos (sentimos) and of 1, 5 and 10 pesos.
Banknotes in the Philippines are easy to tell apart by their color and by the country’s typical landscapes and animals printed on them:
- 20 pesos: orange, the Asian civet in the Banaue rice terraces.
- 50 pesos: red, the maliputo (a huge kind of fish) in Taal Lake and its volcano.
- 100 pesos: purple, the beautiful butanding or whale shark and Mayon Volcano.
- 200 pesos: green, the Philippine tarsier and Bohol’s famous Chocolate Hills.
- 500 pesos: yellow, the pikoy (a colorful parrot) in front of the Underground River in Palawan.
- 1000 pesos: blue, the huge oyster Pinctada maxima resting on the wonderful reefs of Tubbataha.
As of today (November 2025), the peso’s exchange rate against the dollar is €1 / 59,04 PHP (much better than a few years ago). Check the live rate on XE.com.
By the way, Filipinos often struggle to make small change. It’s a good idea to get rid of 1,000‑peso notes as soon as you can and hoard 20, 50 and 100‑peso bills to pay for transport and small shops.
Exchanging money in the Philippines
If you’re flying in from your home country—especially from euro or dollar countries—we recommend exchanging money directly in the Philippines. There are two reasons why:
- Because the exchange rate will be much better than getting pesos at home (don’t even think of buying pesos at places like Ría or similar—fees are sky‑high!) and because money changers in the Philippines usually don’t charge fees.
- Because in most cases, withdrawing from ATMs in the Philippines involves a fee charged by the local machine (not counting anything your own bank might add—we’ll go into that below).
There’s also an in‑between option that’s still not very well known (even less so for travelers from Europe): sending yourself money to so‑called pawnshops, small stores scattered all over the Philippines (even on remote islands). Filipinos use them constantly to receive money from relatives abroad or on other islands. You send yourself euros/dollars and they convert them to pesos at almost market rate for a tiny fee—or even none. We’ll explain more later, but by using THIS LINK you get a €10 welcome bonus when you pick up at least €100, and you also avoid ATM fees. It’s a great hack!
We’ve put together a guide here: Exchange money with Remitly.
The euro and the dollar (as well as the US and Australian dollar) are widely exchanged in the Philippines. If you’re coming from a European country, you don’t need to switch to US dollars first. Bring euros and you’ll get a good rate.
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1. Where to exchange money in Manila
Exchanging money at Manila airport is a good option, as there are many money‑exchange offices both in Terminal 1 and Terminal 3—many are open 24 hours a day. Surprisingly, and unlike most countries, the exchange rate (against euros or US dollars) at Manila Airport is very good. Even so, we suggest you compare with the live rate on XE and check several counters, then change at the most favorable one. If it looks reasonable, swap a large portion of your cash here; you’ll find more places elsewhere in the country.
You can only exchange cash, not cards.
You’ll find money changers both in Arrivals and in Departures (the one in the photo below, in T3, is very good). Sometimes the counters in Departures offer a better rate than those in Arrivals—compare and see which works best for you.
By the way, you can also change leftover pesos from your trip here. The rate isn’t crazy, and it’s better not to take pesos back home because it will be hard to exchange them.
If you have more days to explore Manila, you’ll see a few money changers in the city offering a slightly better rate. Examples include branches of Czarina or Sanry’s (there’s one in the Greenbelt 1 mall in Makati). Still, keep in mind that the taxi ride alone can eat up that rate difference. So we only recommend changing there if you’re going to stay overnight in Manila near them or if you plan to exchange a very large amount.
2. Where to exchange money in Cebu
Another main entry point is Cebu Airport. You’ll find a few currency‑exchange booths there; however, we don’t advise exchanging money at Cebu Airport—the rate is usually awful.
So, to handle money in the Philippines when arriving via Cebu, our tip is to head to the money changers usually located in these malls. Here are places where to exchange money in Cebu that we use:
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- Ayala Mall (next to the Rustans supermarket): recommended if you’re staying overnight in Cebu. There are great food options and, right opposite, a couple of fee‑free ATMs where you can also withdraw without local fees. The HSBC ATM lets you withdraw 50,000 pesos with no local fees.
- Raintree Mall: there’s a money changer called ALCO Foreign Exchange which, as of today (2025), offers some of the best rates in the city. Open Monday to Friday from 8:30 to 12:00 and from 12:30 to 16:00. Saturdays from 8:30 to 12:00 and from 12:30 to 14:00.
- Marina Mall in Mactan: good if you’re staying near the airport or heading to other parts of Cebu—ask your taxi or transfer to stop here on the way.
- SM City: convenient if you’re going toward the Cebu port.
- Pier 1 at the port: there’s a money changer. The rate is slightly better than at the airport, but worse than at the places above.
- Drop-By Foreign Exchange: located around Fuente Osmeña, they offer very good rates.
3. Where to exchange money around the Philippines
If you need to exchange money elsewhere in the Philippines, don’t panic. Search on Google Maps for a Palawan Pawnshop (as we said, these are small shops where Filipinos receive money from relatives abroad), a Western Union or a local bank (BPI, Metrobank…). Most accept US dollars and euros, and the rate—especially at local banks—isn’t bad at all.
Plus, you can also use the Remitly app here, as we explain here with a €10 welcome bonus. The exchange rate you’ll get with Remitly is considerably better than exchanging cash.
Using Remitly or cash pickup at pawnshops
As we mentioned above, although the concept may be a bit hard to grasp in Europe, the Philippines has lots of pawnshops—places to pawn items and to receive/send money to/from other countries. That’s because many Filipinos have relatives living abroad who send money home and need a practical, low‑cost way to receive it. There are many companies offering this service, but the best‑known are Palawan Pawnshop, Cebuana Lhuillier, M.L. Lhuillier, LBC and RD Pawnshop, with branches even in the most remote corners of the Philippines. You can see what they look like in the photo below.
If you’ve run out of cash and want to minimize—or even avoid—ATM withdrawal fees (around 250 pesos), here’s how this works:
- Open Remitly’s website from this link.
- Choose to send money from your country and collect it in the Philippines.
- Enter the amount of euros or dollars you want to convert to Philippine pesos—you’ll see a fantastic, near‑market exchange rate.
- Select “cash pickup” and your payment method (debit or credit card). If it’s your first time, you won’t pay the €2.99 pickup fee. Plus, by using our link, you’ll get a €10 welcome bonus. That means if you want to change €200, you’ll only pay €190. Note that the minimum amount for the promo is €100 and the maximum is €1,000.
- Choose where you want to collect your money—at pawnshops (there are many) or at a bank branch. We recommend pawnshops because there are more of them and they have longer opening hours. You don’t need to pick a specific one, not even a site/island. You can collect whenever and wherever you want within 2 months.
- Enter the name of the person collecting the money, the city they live in (Madrid, Barcelona, etc.), a phone number to receive notifications, and their contact details.
- Pay with the card you prefer.
- Within minutes (it’s almost instant), you can go to any pawnshop branch and pick up your money once you identify yourself and provide the code you received when you made the transfer. That’s it!
In short, you can send money to yourself, pick it up at one of these stores almost instantly, and get a near‑market exchange rate. Plus, with OUR LINK, if it’s your first time you won’t pay any fee and you’ll get a €10 welcome bonus.
If you’ve already used Remitly before, you’ll pay €2.99 per use. However, since you can withdraw large amounts, it can still work out better than using ATMs, which charge the same fee per withdrawal and—except for HSBC, which you’ll only find in Cebu and Manila (there isn’t one at Manila Airport; only Cebu’s)—usually cap withdrawals at 20,000 pesos (roughly $350).
We explain more in our guide to Remitly in the Philippines.
Paying by card in the Philippines
Right, all of the above is great—but can’t I avoid using cash all the time by paying with a card? Unfortunately, in the Philippines that’s not really possible; you’ll need to rely on cash most of the time.
Sadly, you’ll only be able to pay by card in the Philippines in the big cities (mainly Manila and Cebu) and in some higher‑end shops, restaurants or hotels in tourist spots like Boracay or El Nido. Card payments aren’t widespread yet.
Even then, outside Manila and Cebu many places such as hotels and dive centers charge a card‑payment fee, usually 3%–5% of the bill.
Bear in mind that many banks charge fees for payments in currencies other than the euro/dollar. In the last section of this article we recommend cards to avoid these unnecessary charges—and always choose to pay in the local currency.
In the Philippines there are still many POS terminals that don’t support contactless. You’ll often need the physical card to pay.
Withdrawing cash from ATMs in the Philippines: fees
If you’ve been traveling for a while and you’ve run out of cash to exchange, or you simply don’t want to use the Remitly option mentioned above, don’t worry—you’ll find ATMs across much of the Philippines. However, a heads‑up: most of them charge fees of 250 pesos (€3–€4) per withdrawal.
This is a local fee, i.e., charged by the Filipino bank. You’ll also need to check with your own card issuer to see what fees they’ll add for using an overseas ATM.
On top of that, many ATMs in the Philippines only allow 10,000 or 20,000 pesos per withdrawal (€160–€320). Only BPI’s allow 20,000. That means withdrawing cash in the Philippines can get expensive over a 15–20‑day trip.
The only ATMs in the Philippines that don’t charge fees are those of HSBC. They also allow higher withdrawals—up to 50,000 pesos in one go. However, you’ll only find these ATMs in Manila and Cebu and in very few locations within those cities. There are none at any airport. So we recommend seeking them out whenever you can if you don’t have cash to exchange, and always withdraw the maximum amount.
There are still many islands and areas in the Philippines (mainly non‑touristy ones) where there are no ATMs—or the ones there break down or run out of cash on weekends or holidays (as happens in General Luna, Siargao). That’s why we advise you to always carry enough cash. We dive deeper into this here:
ATMs with no fees in the Philippines—which ones are they?
It’s also ESSENTIAL that if you’re planning a trip to the Philippines, you get a bank/card that won’t hit you with high fees for ATM withdrawals in the Philippines or for card payments. Note that many banks also charge a percentage for card payments in foreign currency—sometimes above 3%.
Having a fee‑free card is also perfect while you’re planning, because you can book hotels and flights in Philippine pesos without getting stung by dollar conversion costs.
Discover the best debit card for traveling to the Philippines here
If you want to minimize these fees, keep reading for how we personally handle money in the Philippines.
The best debit and credit cards to withdraw and pay in the Philippines
As we’ve told you, we’ve been living and traveling around the Philippines since 2010, so we know a thing or two about this.
Right now, when we travel from our country we usually carry a decent amount of dollars in cash (around $350), we use Remitly often, and we have four different cards that help us avoid lots of bank fees. We believe it’s very important to carry at least two cards (ideally three if you’ll be around for a while) when traveling in the Philippines—not only because you might lose one or it could get blocked for suspicious activity, but also because sometimes (for random reasons) certain ATMs won’t accept one of them.
With that in mind, here are, in our experience, the best cards for withdrawing cash in the Philippines and for payments:
1. Revolut card for traveling to the Philippines
Revolut hardly needs an introduction—it’s been a hit with travelers for years. The Revolut card is a Mastercard debit card and the one we’ve used for travel for 10 years. With the Standard plan you can withdraw €200 per month with no extra fees, applying a very competitive exchange rate (on weekends, when markets are closed, they add 1%). After that €200, they charge just a 2% fee.
On top of that, the card is linked to your own IBAN account and comes with a modern, easy‑to‑use app. With Revolut you get instant notifications for every payment or withdrawal; domestic and international transfers are free; and—what we love—you can top it up instantly with another card, just like paying online. If you prefer, you can also add money via bank transfer or via Google Pay/Apple Pay.
It’s a great choice if you plan to make lots of purchases because, on the Standard plan, you can spend up to €1,000 a month in foreign currencies with zero extra fees. Above that, they charge only 1%—the same as on weekends. This is CRUCIAL when booking flights and hotels, since you’ll be charged in Philippine pesos and Revolut won’t add the fees that many other banks do.
We carry Revolut—and all the cards we mention here—so we have a higher combined ATM limit and spares in case of issues. Plus, if you sign up through THIS LINK, you get a €10 welcome bonus.
What makes Revolut so good, and why does it work well for us in the Philippines and elsewhere? Here you go:
- No issuance or maintenance fees (no account management/maintenance fee, 0% APR 0% nominal).
- No commitment period.
- On the Standard plan you can pay by card in 36 currencies (including the Philippine peso) with no extra fees Monday–Friday within your plan limits (for Standard that’s €1,000 per month). Above that and on weekends there’s a 1% fee.
- You can withdraw €200/month at ATMs worldwide with no extra fees; after €200 there’s a 2% fee. Out‑of‑network ATMs may charge their own fees.
- They apply a very competitive exchange rate (Monday–Friday). From 22:00 Friday to 23:00 Sunday a 1% fee applies.
- It’s a Mastercard.
- A very intuitive, easy‑to‑use app.
- Free transfers within the EU and low‑cost transfers to Filipino banks—great because some dive centers and tour agencies ask for a deposit and conventional banking would be pricey.
- Instant notifications add peace of mind in case of any fraudulent transactions.
- You can create virtual cards that you can switch off or cancel whenever you want—perfect for online payments when you don’t fully trust the site. These cards also work with your phone’s wallet for contactless (though contactless isn’t that common in the Philippines). You can create the virtual card as soon as you open the account, so you can start paying for hotels and flights right away.
Note that Revolut works fine in the Philippines, but not at Euronet ATMs. Due to the fees those ATMs apply, Revolut doesn’t allow transactions there. Don’t worry—we’re not fans anyway because they always try to trick you with their terrible exchange rate, which can easily mean a €30 hit per withdrawal. Just look for BPI, Metrobank, HSBC or PNB ATMs and you’ll be able to withdraw with your Revolut card in the Philippines. You’ll find them almost everywhere—they’re local banks.
The above details refer to the Standard plan. If, like us, you travel a lot, an excellent option is to switch to Premium or Metal, which, among other perks, allow €400 and €600 in fee‑free ATM withdrawals, respectively (out‑of‑network ATMs may charge their own fees).
Apply via this link and you’ll get a €10 welcome bonus
As you can see, by coming through us, you’ll receive a €10 welcome bonus for new users when you order your physical or virtual card and make your first purchase over €10. You only need to make a minimum €1 transaction and you’ll receive the €10 within a maximum of 3 days. That way you can offset the shipping cost of the physical card. Note you must be over 18 to open a Revolut account. Also check Revolut’s terms and conditions.
*This promo is subject to withholding tax. Services are provided by Revolut Bank
UAB, Spanish Branch (Bank of Spain code: 1583). Don’t forget there are Terms and
Conditions; if you want to know more, check here
2. N26 account and card for traveling to the Philippines
We like this one a little less, but we still have it and think it’s great for frequent travelers.
Opening an N26 account and getting its card is completely free. The process is super easy, done entirely online, and you’ll be set up in just about five minutes. The most interesting perk is three free withdrawals at any ATM worldwide. From the 4th withdrawal on, they charge a €2 fee per cashout.
Unlike Revolut, N26 charges a 1.7% fee on cash withdrawals in currencies other than the euro/dollar, such as the Philippine peso. As you can see, this is a bit higher than the ones above, but still lower than many “regular” banks.
Card payments in non‑euro/dollar currencies carry no fee. The official Mastercard exchange rate applies.
The app is intuitive (though slower than Revolut’s) and lets you manage your card from within it—e.g., you can block it when not in use and approve payments without needing your national SIM card.
The downsides? They now charge €10 to ship the card, and there’s a cap for instant top‑ups.
There’s also a version that’s most interesting if you travel often: the N26 YOU account and card. It’s a paid card (€9.90/month) that doesn’t charge any fees on cash withdrawals (up to five per month) or purchases and includes the following insurance:
- Travel and trip‑cancellation insurance (note: up to 90 consecutive days per trip)
- Mobile phone theft insurance
- ATM theft insurance
More information about N26 here—click HERE.
By the way, we used to use VIVID, but in 2022 they changed the conditions and we closed the account because it no longer suited us. The same happened with EVO and BNEXT, so we no longer recommend them.
Of the two, the one that works best for us is Revolut (we use it day‑to‑day at home and elsewhere), but keep in mind the Standard plan only lets you withdraw €200 without extra fees. That shouldn’t be an issue if you follow our advice and bring a good amount of cash to exchange and use Remitly (a great hack). Revolut is always handy for card payments, either in the country or for booking hotels and flights.
Remember: whenever you pay by card or withdraw cash, don’t accept DCC (the bank’s own conversion), otherwise you’ll be paying hidden fees. That’s why we suggest avoiding Euronet ATMs whenever possible—they always try to pull that trick.
In short: how to handle money in the Philippines
We know it’s a lot of information, so here’s a quick summary of what we’d do when it comes to taking money to the Philippines, in order of preference:
- Bring a good amount of cash (depending on the length and style of your trip; $350 is usually fine) and exchange it at Manila Airport or at one of the money changers we recommended.
- When you run out of cash, use Remitly with a €10 bonus to send yourself money and pick it up at any pawnshop in the Philippines.
- Have a card that doesn’t charge fees for payments in pesos and that minimizes ATM fees. This is crucial while planning your trip because you can book transport and accommodation in Philippine pesos without paying conversion fees.
- If you have to use an ATM and you’re in Manila or Cebu, look for HSBC. If not in those cities, look for BPI (red), which lets you take out 20,000 pesos at once.
Frequently asked questions travelers ask us about money in the Philippines
To boil down everything we’ve covered, here are the FAQs we get after so many years here:
What’s the currency of the Philippines?
The Philippine peso, PHP. Its highest‑value banknote right now is 1,000 pesos.
How do you pay in the Philippines?
While card payments are common in places like Manila and Cebu, you’ll need cash almost everywhere. In touristy areas (higher‑end restaurants or hotels) cards are accepted more often, but it’s still not the norm. Plan to carry cash, and plenty of it, because it’s common for ATMs to be out of service or out of cash.
How much cash should I bring to the Philippines?
It depends a lot on how long you’re traveling, your travel style, and what you’ve prepaid. It’s not the same to arrive with hotels and transport already paid as it is to pay everything on the spot; nor is eating at carinderias for $4–$5 the same as eating at mid‑range restaurants for $8–$13, or sleeping in hostels for $9–$12 per person versus mid‑range hotels for about $24. Likewise, some places are pricier (El Nido, Boracay, Siargao). You’ll also spend more if you’re doing lots of private island‑hopping and diving. All in, we suggest bringing around $350 per person to exchange at the airport or money changers, using Remitly to send yourself money, and carrying one or two of the cards we’ve mentioned for emergencies and for any advance reservations you need to make.
Is it advisable to carry that much cash on you in the Philippines?
None of us love it, of course, but that’s what we do—and in 15 years exploring the country we’ve never been robbed. We’re careful and keep it on us at all times, but the Philippines is genuinely a safe country. That said, using Remitly to withdraw money as needed is our favorite option.
Can I change pesos back to dollars in the Philippines?
In other words, if I have leftover pesos can I convert them to dollars? Absolutely. You can change them back at Manila Airport and at a fairly fair rate.
How much does a beer cost in the Philippines?
An important question indeed. In a shop you’ll pay around 60–70 pesos. In a bar/restaurant it’s common to see it around 90–120 pesos.
Which ATMs don’t charge fees in the Philippines?
Only HSBC ATMs don’t charge fees, and they’re only found in Manila and Cebu.
Can you withdraw cash or pay by contactless in the Philippines?
Sadly, almost no ATM supports contactless, so you’ll need a physical card. Contactless for card payments is becoming more common, but many places still don’t have it.
How can I exchange money in the Philippines without fees?
Manila Airport offers a great rate and is a convenient option. Another alternative is Remitly, which lets you send yourself money to almost anywhere in the Philippines with a good rate and barely any fees.
Does Revolut work in the Philippines?
Yes, it does—we’ve tested it extensively over the past eight years and it’s our travel companion beyond the Philippines, too. It doesn’t work at Euronet ATMs, but it does at others. Remember you get a €10 welcome bonus if you sign up via our link.
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Do you have any questions about handling money in the Philippines? How do you usually do it? Tell us in the comments!
