Money in Philippines

Cash Is King Outside Metro Manila and Resort Hotels

The Philippines is fundamentally cash-based for travellers. Visa and Mastercard work at international hotels, upscale restaurants, major malls (SM, Ayala, Robinson's) and airline offices. But island destinations — guesthouses, dive shops, island-hopping boat operators, local restaurants, tricycles, jeepneys and markets — are overwhelmingly cash-only. Carry enough Philippine Pesos for your island itinerary. Even on Boracay, many smaller establishments prefer cash. On remote islands (El Nido outer beaches, Siargao, smaller Visayan islands), cash is the only option.

ATMs Available in Cities — Scarce on Islands

ATMs from BDO, BPI, Metrobank, Security Bank and Land Bank are widespread in Manila, Cebu City, and major towns, and most accept Visa and Mastercard. Two things to plan around: the maximum per transaction is lower than in many countries, so a trip may need several withdrawals rather than one; and local banks charge a fee per withdrawal on foreign cards on top of your home bank's charges — check the on-screen notice rather than assuming an amount. On tourist islands, ATMs exist but are unreliable: they run out of cash, go offline, or have long queues. El Nido town has a few that frequently run dry, especially at weekends and over holidays. Coron has limited ATMs. Siargao has improved but remains hit-or-miss. Boracay's coverage is reasonable. Withdraw in the city before heading to the islands.

GCash Is Everywhere — But Foreign Visitors Can't Use It

GCash and Maya (formerly PayMaya) are the dominant mobile payment platforms in the Philippines — used by millions of Filipinos for everything from convenience stores to street food. QR code payments are ubiquitous. However, both require a Philippine phone number and bank account to set up, making them inaccessible to foreign visitors on short trips. Contactless payments (Apple Pay, Google Pay) work at modern terminals in Manila malls, international hotels and chain restaurants, but coverage is limited. For travellers, the reality is: card at hotels and malls, cash everywhere else.

Exchange USD in Manila or Cebu — Not on the Islands

Exchange offices in Manila (Ermita, Makati, NAIA terminals) and Cebu City offer competitive rates for USD. Rates are significantly worse on tourist islands. Bring clean USD bills — post-2006 series preferred, damaged or old bills may be refused. EUR and GBP are exchangeable at major banks and forex dealers but USD gets the widest acceptance and best rates. Don't exchange at hotel desks — the markup is substantial.