Roberta Aguirre
If you're travelling to the Philippines, it's a good idea to have some Philippine pesos (PHP) in your pocket when you leave the airport. While credit cards are widely accepted in most urban areas and tourist destinations, not all establishments in the Philippines accept them, so it's best to always carry cash with you. You can exchange your home currency for pesos at currency exchange counters in international airports in the Philippines, such as Manila Ninoy Aquino International Airport (MNL) or NAIA. However, rates at the airport can be higher, so it's recommended to only exchange a small amount there and look for better rates at other currency exchange offices or banks in the city.
| Characteristics | Values |
|---|---|
| Currency exchange available at the airport | Yes |
| Best exchange rate at the airport | No |
| Best place to exchange currency at NAIA Terminal 3 | BDO (Banco de Oro) |
| Best place to exchange currency at NAIA Terminal 1 | Landbank |
| Best exchange rate | Use a card with free withdrawals |
| Best currency exchange rates | Pawnshops (MB Aguirre, ML Lhullier) |
| Best exchange rate in Manila | Money changers at Mabini |
| Best exchange rate in the Philippines | Bring hard USD currency |
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What You'll Learn
- Currency exchange booths at Manila Ninoy Aquino International Airport (NAIA) Terminal 3 offer good rates
- BDO (Banco de Oro) at NAIA Terminal 3 offers fair exchange rates and is recommended
- Exchange a small amount at the airport to cover immediate expenses like taxis
- The exchange rate at the airport is about 6% below the real rate, so consider exchanging at your hotel
- Using a debit card at an ATM is a good option, but check with your bank about fees
Currency exchange booths at Manila Ninoy Aquino International Airport (NAIA) Terminal 3 offer good rates
NAIA Terminal 3 is the busiest terminal at Manila Airport, receiving a large number of domestic and international flights. As a result, there are many currency exchange options available, with a wide range of banks and independent money changers offering their services. The biggest concentration of money changer offices can be found in the arrival area, so it is recommended to check there for the best exchange rates. BDO (Banco de Oro) is also recommended as they offer fair rates for USD and other currencies, although you may need to wait in line.
If you are looking to exchange euros, it is worth shopping around as the rates can vary. For example, the mid-market EUR exchange rate was 64.02 PHP for 1 euro, while the best rate offered at the airport was 63.70 PHP/EUR at BDO, a difference of 0.32 PHP. While the euro exchange rate is not as favourable as the USD rate, it is still better than what your bank in Europe would typically charge.
It is worth noting that cash is still the preferred payment method in the Philippines, so it is advisable to have some local currency (Philippine Pesos - PHP) when you arrive. You will need cash to pay for a taxi or shuttle bus to central Manila, as well as for purchasing a local SIM card. If you have the option, it is recommended to exchange a small amount of money before your trip to cover these initial expenses. Alternatively, you can use an ATM at the airport to withdraw cash, although there may be fees and limits on the amount you can withdraw.
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BDO (Banco de Oro) at NAIA Terminal 3 offers fair exchange rates and is recommended
If you're looking to exchange currency at Manila Ninoy Aquino International Airport (NAIA), Terminal 3, BDO (Banco de Oro) is a great option. BDO offers fair exchange rates for various currencies, including USD, EUR, and AUD. Their rates are often comparable to those found in the centre of Manila, and in some cases, they offer the best rates at the airport.
BDO is located in the arrival area of NAIA Terminal 3, which is the busiest terminal and has a wider range of currency exchange options. The bank is open from 8 am to midnight, seven days a week, making it convenient for travellers arriving at various times. However, due to its popularity, you may need to wait in line for a bit.
When exchanging currency at BDO or elsewhere at NAIA Terminal 3, it's a good idea to bring crisp, new USD bills in denominations of $50 or $100, as these are preferred and may result in a better exchange rate. Exchanging a small amount of money at the airport upon arrival can be a practical option to have local currency for immediate needs, such as transportation and a local SIM card.
While BDO offers fair rates, it's worth noting that using a debit card at an ATM or exchanging money at specific locations in Manila, such as Mabini, may provide even better rates. Additionally, consider using a card with free withdrawals to minimise fees and maximise the amount of money you have available for spending or exchanging.
In summary, BDO (Banco de Oro) at NAIA Terminal 3 is a recommended choice for currency exchange due to its fair rates, extended operating hours, and convenient location. However, depending on your specific needs and currency, it may be worth exploring other options, such as ATMs or independent money changers, to find the best rates and avoid long queues.
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Exchange a small amount at the airport to cover immediate expenses like taxis
If you're looking to exchange a small amount of money at the airport in the Philippines to cover immediate expenses like taxis, there are a few things to keep in mind.
First, it is recommended to bring US dollars with you, as USD is still the preferred foreign currency in the Philippines, and you're likely to get a good exchange rate for it.
At Manila Ninoy Aquino International Airport (MNL), also known as NAIA, you'll find currency exchange booths at all four terminals, with the busiest being Terminal 3, which handles a large number of domestic and international flights. You can expect to find competitive exchange rates at Terminal 3, which are normally as good as those in the centre of Manila.
One recommended place to exchange your currency at NAIA Terminal 3 is BDO (Banco de Oro). They offer fair exchange rates for various currencies, including USD. However, you may need to wait in line as it is a popular choice.
If you're exchanging US dollars, it's best to skip Landbank, as they typically offer significantly lower rates. It's also advisable to bring new, crisp $50 or $100 bills, as older or smaller bills may be rejected or incur higher fees.
While the airport exchanges in the Philippines generally offer decent rates compared to other countries, it's still recommended to only exchange a small amount to cover immediate expenses. You can then seek out better exchange rates at other locations, such as banks, money changers in popular tourist areas or shopping malls, or by using ATMs with your debit card.
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The exchange rate at the airport is about 6% below the real rate, so consider exchanging at your hotel
If you're looking to convert money at a Philippines airport, you should be aware that the exchange rate at the airport is likely to be less favourable than rates you can find elsewhere. In fact, one source suggests that the airport exchange rate is about 6% below the real rate. This is a significant difference and will obviously impact how much foreign currency you receive.
So, while it may be convenient to exchange money at the airport, it's worth considering other options. One alternative is to use an ATM at the airport, which may offer a better rate. However, be aware that there may be additional fees for using a foreign ATM, and there could be withdrawal limits in place. It's a good idea to check with your bank before travelling to ensure your card will work in Philippine ATMs, and to understand any associated fees.
If you're staying in a hotel, you could also consider exchanging money there. Some hotels offer currency exchange services, although rates may not be as competitive as those offered by banks or dedicated money changers. Nevertheless, it's worth checking with your hotel to see what options are available.
Other options for exchanging money in the Philippines include using a bank or a licensed money changer. Major banks in the Philippines offer currency exchange services, and there are numerous licensed money changers located in popular tourist areas, shopping malls, and business districts. These money changers often provide competitive exchange rates, so it's worth shopping around to find the best deal.
In summary, while it is possible to exchange money at a Philippines airport, the exchange rate is likely to be less favourable than rates offered elsewhere. To get the best value for your money, consider using an ATM, exchanging money at your hotel, or seeking out a bank or licensed money changer once you're settled in your destination.
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Using a debit card at an ATM is a good option, but check with your bank about fees
Using a debit card at an ATM in the Philippines is a convenient way to access money, but there are some things to be aware of regarding fees.
Firstly, it is worth noting that there is a range of currency exchange facilities at the different airport terminals in the Philippines, with varying exchange rates. The exchange rate at the airport will likely be less favourable than the real mid-market exchange rate, so it may be worth only exchanging a small amount of money at the airport and then using an ATM or currency exchange booth in the city.
ATMs can be found in major airports and in or near bank branches, shopping centres, and supermarkets in cities and larger towns in the Philippines. However, in more rural areas, it may be difficult to locate a cash machine, so it is a good idea to carry cash when travelling outside of cities.
When using a debit card at an ATM in the Philippines, there are a few fees to watch out for. Firstly, your home bank may charge a fee for using your card overseas, and you may also be charged a fee by the local bank for using their ATM. These fees vary from bank to bank, so it is worth checking with your bank before you travel. Additionally, some banks in the Philippines charge a fee for using a different bank's ATM, so it is generally cheaper to use your own bank's ATM where possible. It is also important to be aware of dynamic currency conversion (DCC), which is often not a good value for customers as the exchange rate used is usually not the real mid-market rate. You can avoid this by always choosing to pay in the local currency, pesos, rather than your home currency.
To avoid issues with your card being blocked or limited due to unusual spending patterns, it is a good idea to inform your bank that you plan on travelling. It may also be worth considering getting an alternative spending card designed for international travel, such as the Wise card, which offers low, transparent fees in over 150 countries.
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Frequently asked questions
Yes, currency exchange counters are available at international airports in the Philippines, including Manila Ninoy Aquino International Airport (MNL) or NAIA.
Exchange rates at the airport are reportedly decent, and better than those at many other airports around the world. However, they are not always the best rates available, and you may get a better rate in the city centre.
It is recommended to only exchange a small amount of money at the airport, as you may get a better rate elsewhere. It is a good idea to exchange some money at the airport so that you have cash to get a taxi or shuttle bus to central Manila, and to buy a local SIM card.
You may get a better exchange rate at a bank branch, money changer, or at a local ATM. BDO ATMs at the airport are also said to offer fair exchange rates.
It is recommended to bring new, crisp $50 and $100 bills to exchange, as there is a preference for USD in the Philippines, and older bills may be rejected.
