Where to Exchange Currency in Manila for the Best Rates
Manila, the bustling capital of the Philippines, is a vibrant city that attracts tourists and business travelers from around the world. Whether you’re visiting for leisure or work, one of the first things you’ll need to do is exchange your currency for Philippine Pesos (PHP). Getting the best exchange rates can make a significant difference in your spending power, so it’s essential to know where to go. Here’s a guide to help you find the best places to exchange currency in Manila.
Banks and ATMs
Banks are a reliable option for exchanging currency in Manila. They offer competitive rates and are generally safe and secure. Major banks like BDO, BPI, and Metrobank have branches throughout the city, including at the airport. However, banks typically have shorter operating hours, usually from 9 AM to 3 PM on weekdays, and may be closed on weekends and holidays. ATMs are another convenient option, allowing you to withdraw pesos directly from your home bank account. Just be sure to check with your bank about any international withdrawal fees that may apply.
Currency Exchange Counters
Currency exchange counters are widely available in Manila, especially in shopping malls and tourist areas. These counters often offer better rates than banks, but it’s crucial to compare rates at different counters to ensure you’re getting the best deal. Some popular places to find currency exchange counters include SM Malls, Robinsons Malls, and Greenbelt. Always count your money before leaving the counter and keep your receipt in case of any discrepancies.
Money Changers
Independent money changers can be found throughout Manila and are known for offering some of the best exchange rates. However, it’s important to be cautious when using these services. Look for money changers with a good reputation, such as Czarina Foreign Exchange and Sanry’s Money Changer, which have multiple branches in the city. Avoid exchanging money with street vendors or in poorly lit areas to minimize the risk of scams. Always verify the rates and count your money carefully before completing the transaction.