The Philippines is best place for tourists get more in exchanging their green bucks for Philippine Peso.
Exchanging Foreign Currency
Places to exchange dollars to peso and vice-versa can be found in most hotels,most of the large department stores, banks and authorized money changing shops. Other exchange outlets are illegal and the laws are strictly enforced.
The latest exchange rate is usually posted outside these places or a search online can also provide the latest FOREX rate.
Banking hours
Banks open at 9:00 a.m. and most are close by 3:00 p.m. Banks found inside malls have extended hours. However, ATMs – are common in most cities and major towns. They are on 24/7.
Philippine ATM Bank Service Charges
These days, it seems the ATM is not anymore a free benefit given to bank customers. Indeed most, if not all, banks now charge clients whenever they use ATMs.The good news is that no charge is collected if the ATM is used in the client’s own bank’s ATM. But if the customer decides to use another bank’s machine to do withdrawals or even balance inquiry transactions. For foreign ATM card withdrawals, the machine will let customer know how much the charge is before any transaction.
Tipping Issue
The usual tipping practice is 10% of the total bill is the usual practice. But this is actually optional in most cases. If the bill includes service charge, tipping is optional.
Public Transportation Payments
All public transportation vehicles including taxis must be paid in cash. Tipping is optional.
Taxi cabs run a meter per kilometer. The fixing of taxi ride rates is prohibited. Please let the hotel or mall staff know if this happens to you.
Philippine Peso Denominations
