The Philippine peso: notes and coins
The national currency of the Philippines is the Philippine peso (PHP)4. Banknotes come in 20, 50, 100, 200, 500, and 1000 peso denominations5. The 1000-peso note was changed to a polymer material in 20226. Other notes are made of paper.
Coins in use are 1, 5, 10, and 25 centavos, and 1, 5, 10, and 20 pesos7.
Cash or card: where cards fail
Cash is often the only way to pay outside of major cities8. In cities like Manila, Cebu, and Davao, you can use Visa and Mastercard in most hotels, restaurants, and shops8.
Some places may add a 2-3% fee if you pay with a card9.
Where to get local money
ATMs are common in big cities like Manila and Cebu12. They are not available in remote parts of the country12. Most ATMs charge a fee of around 200-250 PHP per withdrawal for foreign cards13. Your home bank may also charge its own fee. Typical ATM withdrawal limits are 10,000-20,000 PHP per transaction14.
You can exchange money at banks and licensed money changers11. You should avoid exchange counters at airports and hotels because they usually offer poor rates11.
What to do before you leave
Check with your bank about any fees for using your card abroad. Tell your bank you will be traveling to avoid your card being blocked. It is wise to carry some cash, especially if you plan to visit rural areas.
If you bring more than USD 10,000 in foreign currency, you must declare it to customs15. If you bring more than PHP 50,000 in Philippine pesos, you need prior approval and must declare it16. Not declaring these amounts can lead to your money being taken, a fine up to PHP 500,000, and jail time up to 14 years17.
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