Travelers Checks in the Philippines

Hi there,

I’m gonna be taking a trip in the Philippines for nearly two weeks coming up. I was wondering if I can get travelers checks at a bank here in Taiwan and use them in the Philippines. Are there places that will cash them? Where can I get them in Taiwan?

I know this is rather outdated, but I am not sure if my ATM card will work in the Philippines ( I have a bank account at the Taiwanese post office and have a debit card through them, I am not sure if it will work at international ATMs). Also, I don’t think it’s safe or reasonable to carry around the amount of cash I will need for the trip in the Philippines. Please let me know what the best course of action is. Thanks in advance.

You can get US travellers checks at most of the big banks in Taiwan, though you might need an account. However they are increasingly becoming less useful and you don’t want to get caught, as I was two years ago in Alaska unable to cash except at a bank you have an account with (which was impossible since I didn’t live there).

Don’t know what the situation is in the Phils but check carefully. It’s a complete scam what banks are doing as they make a fortune off the exchange rate in addition to charging your for an ATM withdrawal but there isn’t much to do about it. In essence banks don’t want to spend the man hours it takes to cash the checks.

My advice would be to find some other way. I had a hell of a time finding a place to cash American Express traveler’s checks even in an area of Manila with loads of tourists. Probably not a possibility on any of the smaller islands, though I could be wrong, I decided I was never going to have the chance to find out. How soon do you leave? You could probably get an account set up to use an ATM in foreign countries within a couple of days.

I got my checks at a Bank of Taiwan branch in Kaohsiung. I didn’t need and account to get them.

sounds like it’s inconvieient. I can’t think of any other ways to have money in the country aside from bringing cash, using an ATM or travelers checks.

Hi,

I would bring cash but only change it at real bank! The usual exchange rate is 0.5, you lose half the money if changing into peso. Some banks give you prober exchange rate of about 1.1 to 1.2 but the best and most secure way is to change the money in Taipei already. I have never tried an ATM but make sure they exchange rate is ok…

Those are about the only choices. When I was there in Feb, the bank charged a flat rate of 200 pesos for the withdrawal. Not sure what the exchange rate was, or what the bank in Taiwan got for it’s troubles. Thought I’d be happier not knowing. Carrying around a lot of cash always gives me stress and the point of a holiday is to be clear of stress.

If you do go with cash, get American dollars in Taiwan and change to Pesos in Phil. The rates are not good exchanging NTD to Pesos. And you’d have to carry four 1000 peso bills for every 100 dollar bill.

If you do go with cash, get American dollars in Taiwan and change to Pesos in Phil. The rates are not good exchanging NTD to Pesos. And you’d have to carry four 1000 peso bills for every 100 dollar bill.[/quote]

That’s what I did last time I went. The exchange booth at the TPE airport was giving an awful rate on NTD to Pesos, and they didn’t even have enough to boot. I got USD and exchanged for Pesos. Much better exchange rates all around, despite the fact that you have to change the cash twice.

Well I called up my bank and they said that I will be able to use my card at ATMs in the Philippines and other countries. That’s good news.

I still want to bring some cash with me. I have a very late flight from Taipei to Manila. I want to get some money. Will the money exchange places be open around 12am at Taoyuan? If anyone knows, please post here. Thanks.