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Where to get the best exchange rate on US Dollars to Swiss Francs?

What is the best way (other than carrying in US dollars) to get the highest rate of exchange in the Phillipine?

  • I need to access money for somethings that I am purchasing. Other than carrying in large amounts of US dollars into the Philippines where will I get the best exchange rate? ATM, wire transfer,Travelers checks?

  • Answer:

    Travelers Checks are useless here. A wire transfer is still not going to give you cash in your hand. DON'T EVER EVER USE STREET MONEY CHANGERS where they have these little booths set up. They send guys out with their little flash cards that advertise 2 or 3 pesos over the prevailing rate but those people are magicians with their hands. You won't even know you've been had till you are down the road somewhere. Then what! Everybody likes to think they are more clever than these crooks but beware. They do this stuff day in and day out. YOU WILL GET RIPPED OFF. Your best exchange rates will come from the ATM machine. The machine connected to the bank will offer a higher daily limit. Those international rates are set automatically and are not subject to someones opinions. Next would be at the customer service desk of a reputable bank. Even then, there will be a penalty for bills with dog ear, fold creases, pen marks, etc. I've been living here for several years and I know what I'm talking about. I'm not just guessing here. Airport rates are a total ripoff too. Some Filipino businessmen will accept $100 US Notes in transactions but you need to deal with the boss, not the hired help.

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Other answers

Cash is always best so if you cannot bring USD, then the Euro and the Yen might be your best shot as they are widely traded. From what I heard, it is best if you change you money in a legitimate money exchange as opposed to a bank. There are many in the city, especially in manila. Banks are the safest and most convenient but they usually offer lower rates. I normally don't exchange my money at the airport (or perhaps you can just change some so that you have money to spend until you find a money changer offering better rates). Travellers' checks, ATM and wire transfer is widely available but I would still prefer to use cash UNLESS you are travelling with a huge amount. And the farther you are from the city, the more difficult it gets to find facilities for these so make sure you have enough cash. Another option would be to have an international credit card as major establishments in the philippines accept credit card payments.

Urban Myth

If it's a big amount like 10,000 or more you can go through Maniflo International with offices in San Diego, Manila and Mexico City. If it's a small amount like less than a few thousand a month, then just use an ATM. I open a separate account just for my ATM card so that I have to put money in the account and have only so much to lose. So instead of using my regular savings account ATM, I have a ATM card set up to a account with a 0 balance, then I move the amount of money I need into it before going to the ATM.

I am America

American Express Travelers Checks gave me the same bank exchange rate before in the 1990's..I dunno if they ever changed that, but what ever the present rates for money is, should be as the money orders are what diff. does it make if its still that same dollars when it comes out of our banks here in US? If they ever changed that well I think that would be another one of their so called created scam over there, like they always do to tourists. Goddamned - Con-Artists.

DANTEZ

black market...use american 100 dollar bills. Travleler's checks seem to get lower ratings for some reason.

anony210

Do not bring cash. Bring a bank card.

jd

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