The Philippines is an archipelago of over 7,600 islands with powder-white beaches, dramatic limestone karst landscapes, and world-class diving. Known as the “Pearl of the Orient,” it has become a popular travel destination, attracting an estimated 650,000 US citizens each year.
If you plan to visit the Philippines soon, you may be wondering how much money to bring on your trip. From cash limits and credit card acceptance to ATMs and exchange rates, here’s what you should know before traveling to the Philippines.
Key takeaways
- Foreigners visiting the Philippines can bring up to ₱50,000, $10,000, or the equivalent of $10,000 in another currency in cash.
- Credit cards are widely accepted in tourist areas and major establishments, but cash is still often necessary in rural areas, smaller businesses, and local markets.
- A mid-range travel budget in the Philippines is about $60 to $80 per day.
Money basics for the Philippines
As you plan a trip to the Philippines, here are the key money basics you should know.
How much money can I bring to the Philippines?
- Bonds
- Checks
- Commercial papers
- Confirmations of sales/investments
- Custodial receipts
- Deposit certificates
- Deposit substitute instruments
- Drafts
- Money orders
- Notes
- Trading orders
- Transaction tickets
- Trust certificates
- Securities
If you want to bring more than the allowed amount into the Philippines, you’ll need to complete and submit the Currencies Declaration Form from the Philippines’ Central Bank, Bangko Sentral ng Pilipinas (BSP). Bringing an amount over the limit without written authorization from the BSP may result in the Philippine Bureau of Customs confiscating the excess.
How much money can I bring from the Philippines to the USA?
If you’re leaving the Philippines and bringing cash back to the US, the same limits apply: 50,000 PHP, 10,000 USD, or the equivalent of 10,000 USD in another foreign currency.
Attempting to leave with more than the permitted amount may again result in confiscation of the excess. However, you can also submit the Currencies Declaration Form to the BSP to request permission to carry larger amounts of cash out of the country.
Do you need pesos in the Philippines?
You’ll need pesos, in some capacity, when you visit the Philippines. Large establishments in major tourist destinations, such as malls, high-end restaurants, and resorts, generally accept credit cards and have ATMs. Some even accept US dollars. However, pesos are often necessary when traveling beyond those areas and transacting with smaller businesses.
The amount of pesos you’ll need depends on what you plan to do outside of the major tourist spots. However, it’s best not to carry more than the equivalent of a few hundred USD in cash at any time. Travelers also recommend splitting up cash and storing it in several places.
Can I use a credit card in the Philippines?
Credit and debit cards are accepted by many large establishments in the Philippines, particularly in the major tourist areas. If you plan to use one of your cards while on your trip, here are a few tips to keep in mind:
- Bring a Visa or Mastercard: Visa and MasterCard are the most widely accepted card networks.
- Use a card without foreign transaction fees: Some card issuers charge fees of around 3% on foreign purchases, while others don’t.
- Be sure to pay in PHP when given the option: This helps you avoid dynamic currency conversion, which often comes with a less favorable exchange rate.
- Tell your card issuer: Notify your card issuer of your upcoming travel plans before your trip, so your purchases aren’t flagged as suspicious activity and declined.
Factors to consider when deciding how much money to bring to the Philippines
As you plan how much money you should bring to the Philippines, here are a few key factors to consider.
1. The duration of your stay
The length of your trip is a key factor in deciding how much money you should bring to the Philippines. Even if you book accommodations and activities in advance, you’ll still generally need money for daily expenses like meals, transportation, and incidentals. The longer you stay, the more those costs add up. Building in a small buffer can help you avoid running short and stressing during your trip.
2. The number of people traveling with you
The number of people traveling with you (that you’re paying for) will also directly affect how much money you should bring to the Philippines. While some costs may be shared, like hotel rooms or rental transportation, many daily expenses increase with each additional person. For example, meals, attraction tickets, snacks, and souvenirs can add up quickly.
Note: If you’re traveling with people and splitting costs, that should also be taken into account, as it can help to lower your costs.
3. A daily travel budget
Breaking down the trip into a daily travel budget can help make planning easier. Think about what you plan to do each day in terms of accommodations, eating, and activities. Then, set an estimated daily budget per person.
For example:
- Budget travelers may allocate $35 to $50 per day, primarily spending on hostels, street food, and public transportation.
- Mid-range travelers may plan for $60 to $80 per day for private accommodations, restaurant meals, and guided activities.
- Luxury travelers may budget $100 to $150 per day on upscale resorts, private transportation, and premium experiences.
No matter your travel style, be sure to add a bit extra onto the daily budget for unexpected costs like tips, emergencies, or last-minute plans.
Understanding exchange rates
Exchange rates can affect how much your money is worth once you arrive in the Philippines. Even small differences in the USD to PHP rate can add up across meals, transportation, shopping, and activities, so it’s helpful to check the rate before and during your trip.
Where you exchange money can also make a difference. Banks and financial institutions may offer more competitive exchange rates than convenient exchange locations in hotels, airports, and busy tourist areas. Those locations can be easy to find, but they may come with less favorable rates or added service fees.
ATMs can be useful when you need pesos, but review any fees and withdrawal limits before accepting a transaction. To better understand your costs, compare your options and look for ways to send money that show fees and exchange rates before you complete the transaction.
Western Union: Your travel partner
Western Union can help ensure you have the cash you need throughout your trip. Send money to the Philippines for cash pickup when you need access to pesos during your trip. We have thousands of agent locations across the Philippines.
While ATMs in the Philippines often limit withdrawals to 10,000 or 20,000 PHP, Western Union allows you to send up to the equivalent of 15,000 USD in PHP per transfer. However, remember you don’t want to send much more than you can use, as cash limits apply when you leave the country.
Need to send pesos now? Send money online today!
FAQs
The amount of pocket money you’ll need depends on factors like the length of your trip, who’s going with you, and what you plan to do. If you plan to stay in the major tourist areas, you won’t need as much cash because you can use your cards. If you’re heading out to rural areas, island hopping, and shopping at smaller shops, you’ll need the majority of your budget in cash.
A reasonable daily budget for the Philippines can range anywhere from $35 to $100+, depending on your travel preferences. Mid-range travelers will often spend $60 to $80 per day, while budget travelers could get by with $35 to $50.
Whether you rely more on cash or cards when traveling to the Philippines depends on what you plan to do. Credit cards are often accepted at major establishments in popular tourist areas, such as large grocery stores, upscale restaurants, and malls. Outside major cities and tourist hubs, cash remains the primary mode of payment. It’s also necessary for taxis and tipping, no matter where you are.
The best way to exchange money in the Philippines is to withdraw pesos from an ATM or exchange US dollars for pesos at a reputable bank or money changer. You can also send pesos to yourself for local pickup through an international money transfer service like Western Union.
You can bring up to 50,000 PHP or 10,000 USD into the Philippines from the USA, or the equivalent of 10,000 USD in another currency. If you want to bring more, you’ll need to declare it and request approval from the BSP.
While you may need pesos upon arrival, you don’t need to get them before going to the Philippines. Instead, you can withdraw pesos from the ATM when you arrive at the airport or send them to a Western Union location for pickup. You can also bring US dollars to exchange, but the process is more tedious. Banks and money changers typically require you to present your passport, complete a transaction slip, and present pristine bills.
