Euro/Peso Rate = 1:60 - 1: 55
Dollar/Peso Rate = 1:45
This is just an average Value, to make it easy to have an idea, to compare the prices,
which are shown on our website. The actually currency rates you can find in the currency converter (link at the right side).
Transfering money to the Philippines is most common by using the world wide available service of Western Union. The transfer is save and easy.
Its also no Problem to transfer the money to a bank account. Both ways are quiet expensive.
The cheapest way to transfer money is using the different web services like moneybooker.com or AlertPay. But then both sender and receiver have to have an account at the web service and of course a banc account.
Money Exchange / ATM
We do have the best experiences using the official money exchanges. The Bank rates are mostly low and never ever change the money by passing by sellers. You never know what you get.
Withdrawing money by using a credit card is possible. Lots of ATM are prepared to use Visa, American Express and Mastercard. You can find them at any bank and even in Shopping Malls, its nothing to worry about.
Traveller cheques should be issued by Amercan Express. They will be accepted by most of the banks. Mastercard and others are not accepted that much.
Opening a bank account isn't possible as long you are a tourist only. Notice, not every bank is member of the insurance system. And every Depositer is only insured until 250.000 Peso. That's why it is common to have more than one account.
The international rules of money laundring are taken very serious.
As long you don't change your money on the street, or follow someone, who offers a high rate in a special shop, you can use any offers of different money changers.
First option is dangerous and mostly illegal.
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