What is the currency in the Philippines? Currency and Payment

If you are planning a trip to the Philippines, it is essential to know and understand how the peso, the Philippine currency, works. Coins and notes, payments on the spot, the best places to exchange or withdraw money, informing yourself in advance allows you to avoid unpleasant surprises and ensures a smoother trip.

In this guide, find out everything you need to know about currency in the Philippines, how to pay, change and withdraw money, for a stress-free stay.

What is the currency in the Philippines?

The Philippine peso has been the official currency in the Philippines

• Its symbol is: ₱
• Its abbreviation is PHP (Philippine Peso)
• Each peso (piso) can be divided into 100 sentimos

Check the current Pound to Philippine Peso conversion rate with Western Union.

What are the coins and banknotes in the Philippines?

The Philippine currency is made up of various coins and notes, ranging from 1 sentimo to 1000 pesos:

• Philippine coins: 1, 5, 25 sentimos and 1, 5, 10, 20 pisos
• Philippine banknotes: 20, 50, 100, 200, 500 and 1000 pisos

Note: Philippine coins are decorated with famous figures from the country’s history, such as Apolinario Mabini (revolutionary leader) on the 10-piso coin, Andres Bonifacio (statesman

Send money to the Philippines with Western Union

With Western Union, you can send money to the Philippines in just a few clicks at an attractive rate.

How do I pay in the Philippines?

In the Philippines, cash payment remains the most common method, but digital wallets such as GCash and Maya gain popularity. With Western Union you can send money to for cash pickup in the Philippines but also directly to digital wallets including GCash and Maya. Whatever payout method is preferred by your receiver, Western Union has you covered.

To make your purchases, it is recommended to combine payments in Philippine currency and by credit card.

Pay with cash

Cash payment remains the norm in the Philippines. All your purchases can be paid for in Philippine currency: markets, local transport, small shops, etc. Species are especially needed outside of the big cities, in the villages and on the many islands of the country. Therefore, always keep small denominations (₱20, ₱50, ₱100) with you in order to overcome possible card payment problems. They are also essential, as many traders report that they do not have change in rural areas. If you only have large Philippine bills when you arrive, remember to break them quickly in supermarkets or shopping malls.

Be careful not to go out on the street with all your cash on you, by distributing your Filipino money in different places (bag, wallet, belt, hotel safe, etc.).

Pay by credit card (credit or debit)

As in Thailand or India, credit cards (Visa, MasterCard and American Express) are widely accepted in major Philippine cities and tourist areas, whether in hotels, restaurants, department stores or department stores. However, in rural areas or on more remote islands, it is preferable to have Philippine pesos in cash, as merchants not always have payment terminals.

Be careful, shops often take a commission. Check ahead of time to see if there is a commission and always ask to see the invoice to avoid unexpected surcharges or charges.

In order to avoid your card being blocked once you are there, always remember to indicate your dates of stay to your bank. Also, when paying by card, automatically choose to pay in Philippine pesos and not euros, as the dynamic conversion applied by merchants is might be disadvantageous. Similarly, check the foreign exchange and transaction fees applied by your bank and any fees that might be applied by merchants.

Mobile Payments

Mobile payment is growing more and more in the Philippines. Beyond Apple Pay and Google Pay, local apps such as Gcash and Maya (formerly PayMaya) are very popular, allowing you to pay for your purchases via QR Code (QR Ph). Tourists have access to these means of payment as long as they have a Filipino phone number and an identity document. However, as with credit card payment, a payment terminal must be accessible to pay with your phone, which can be difficult in rural areas.

Can I pay in euros in the Philippines?

No, the euro is not legal tender in the Philippines. No shopkeeper, hotel or restaurant is required to accept euros, and most refuse. Conversely, the US dollar is commonly used in the Philippines and can be more easily changed on the spot. Having a dollar stash on you can be useful if you are traveling to remote areas. With Western Union you can also send US dollars for cash payout to the Philippines.

Where to change money in the Philippines?

You can change your money in the Philippines:

• In exchange offices
• In the banks
• In high-end hotels
• In some tourist places

Currency exchange offices in the city centre are popular places to change your money, usually offering competitive rates. Changing your money at the airport might be a convenient place to get Philippine currency, but might come with less competitive rates.

No matter where you are changing your money in the Philippines, keep these best practices in mind:

• Compare the exchange rates offered around you, as each rate is determined by the property and may vary from place to place.
• Check for hidden commissions and fixed or variable fees and ask for a receipt for each foreign exchange transaction.
• Never change money on the street in the Philippines, even if the rate offered is attractive, as it carries a risk of scams (counterfeit bills, Philippine currency scam, pickpocketing).
• You can send money for cash pickup ahead of your travel with Western Union. This way you can pick a moment with a favourable exchange rate to make the transaction and collect Philippine pesos at any Western Union location in the Philippines as soon as you arrive.

Enjoy the great exchange rates with Western Union. Sende Philippine peso for cash pickup in the Philippines. You benefit from a fast and reliable service.

Where to withdraw money in the Philippines?

You can withdraw money in the Philippines from all ATMs spread across the country. These dispensers are common in major cities and tourist areas but can be harder to find outside of it. The limit for withdrawals of Philippine currency is usually

You can withdraw money from banks, airports, 7-Eleven stores, and more. BDO Unibank, BPI, Metrobank, HSBC, PNB and ChinaBank offer safe and reliable ATMs for your withdrawals.

Withdraw preferably from ATMs located inside banks or shopping malls. Also check that your card is accepted at the ATM. As with card payments, decline dynamic conversion to avoid an unfavourable exchange rate. Never accept assistance from unknown people around a distributor, even if they seem well-intentioned.

Please note: each withdrawal of money in the Philippines involves a commission from the bank, and may incur fees from your bank in the UK (withdrawal fees and exchange rate commissions).

This blog post is provided for informational purposes only and does not constitute legal advice. Although we strive to ensure accuracy, the information provided may change. For advice tailored to your particular situation, please consult a qualified legal or professional advisor and refer to official sources.