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Money & currency

Money in Philippines

Updated 2026-08-15

Money & Currency
₱

Philippine Peso (PHP)

Currency code: PHP

Practical Money Tips

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.

Note: Always check current exchange rates before traveling. Currency exchange is available at airports, banks, and authorized money changers.

Common Money Questions

What currency does the Philippines use?

The Philippines uses the Philippine Peso (PHP, symbol ₱). Notes come in 20, 50, 100, 200, 500 and 1,000 PHP; coins are 1, 5 and 10 PHP. The 1,000 note is the largest denomination, and the practical consequence matters more than the exchange rate: many small vendors, tricycle drivers and market stalls cannot change large bills, so deliberately keep a supply of smaller notes and break big ones at malls or hotels when you get the chance.

How cheap is the Philippines really?

The Philippines is one of Southeast Asia's most affordable destinations, and what it delivers relative to cost is a large part of the appeal. The comparisons that stay useful are relative rather than absolute: Manila and Cebu City price above provincial towns; established resort areas such as Boracay and El Nido sit higher again, particularly in peak season; local eateries (carinderia), street food and the smaller islands are markedly cheaper. Diving and island-hopping are inexpensive by international standards for the quality delivered. For actual figures, check a current price comparison when planning rather than relying on any published number.

Can I use Apple Pay, Google Pay or contactless in the Philippines?

Contactless NFC payments (Apple Pay, Google Pay) work at modern terminals in Manila's malls (SM, Ayala), international hotels, chain restaurants (Jollibee, McDonald's) and some upscale establishments. Coverage drops sharply outside Metro Manila. GCash and Maya QR codes are everywhere but require a Philippine phone number and bank account — not practical for short-term visitors. On islands, at dive shops, on bangka boats and in local restaurants, only cash works.

Should I bring USD, Euros or other currency?

USD gets the best rates and widest acceptance at exchange offices. Bring clean post-2006 bills. EUR is exchangeable at major banks and forex dealers in Manila and Cebu but less universally accepted. GBP, AUD and other currencies are harder to exchange outside Manila. Many dive shops and tour operators quote prices in USD. For the best approach: bring USD cash, exchange in Manila or Cebu City, and carry pesos for your island itinerary.

Is tipping expected in the Philippines?

Tipping is appreciated but not obligatory. At restaurants, around 10% is normal if no service charge is included — many places add one, so check the bill before adding more. Beyond that the pattern is small and situational: round up for taxi and Grab drivers, something per bag for hotel porters, and a share for divemasters, island-hopping boat crews and guides at the end of a day's work. There are no fixed rates; judge it against local prices and the service received, and tip in cash, in pesos.

How do I pay for transport in the Philippines?

Grab (Southeast Asia's Uber equivalent) operates in Manila, Cebu City and a few other cities, with in-app card payment available and no fare haggling. Regular taxis in Manila are metered — insist the meter runs rather than accepting a quoted price. Jeepneys (the iconic converted trucks) are cheap, short-hop transport and cash only. Tricycles (motorcycle with sidecar) are cash only and are normally negotiated before you ride, so agree the fare first. Bangka boats for island hopping are cash only, usually priced per tour rather than per person. Domestic flights take card payment online; ferries are paid in cash at the port.

Are Philippine ATMs reliable on islands?

Unreliable is the honest answer. El Nido has a handful of ATMs (BDO, Land Bank) that frequently run out of cash, especially on weekends and holidays. Coron has limited options. Siargao has improved but remains unpredictable. Boracay has reasonable coverage. The safe approach: withdraw enough pesos in Manila or Cebu City to cover your entire island stay, plus a buffer, and keep the money in more than one place in your luggage. Expect a per-withdrawal fee on foreign cards from the local bank as well as your own bank's charges — check the machine's notice at the time.

Entry rules, visa types and practical notes live on the Philippines overview.

Treat this Visaja page as your starting point: verify the current rules directly with the official source before you submit an application.