Currency in the Philippines
The complete Philippine Peso (PHP) travel guide
The Philippine Peso (PHP, symbol ₱) is the official currency of the Philippines. Issued by the Bangko Sentral ng Pilipinas (BSP), banknotes come in ₱20, ₱50, ₱100, ₱200, ₱500, and ₱1,000 denominations; coins in 1, 5, 10, 25 sentimo, ₱1, ₱5, ₱10, and ₱20. The Philippines is one of the world's largest remittance-receiving countries — over $36 billion arrives annually from the Filipino diaspora (4+ million workers abroad), primarily from the US, Saudi Arabia, UAE, Hong Kong, and Singapore.
Cash, cards, and ATMs in the Philippines
The Philippines is a cash-friendly country, particularly outside Manila and the major resort areas (Cebu, Boracay, Palawan). Tricycles, jeepneys, sari-sari stores (small neighborhood shops), and street food are cash-only. Visa and Mastercard are accepted at hotels, malls (SM, Ayala, Robinsons chains), chain restaurants (Jollibee, Mang Inasal), and tourist-oriented businesses. ATMs at BPI, BDO, Metrobank, and Citibank branches accept foreign cards, with per-transaction limits of ₱10,000–20,000 (~$170–340) and fees of ₱250 per withdrawal. GCash and Maya are the dominant local mobile-payment apps but require a Philippine number to set up.
Tipping culture in the Philippines
Tipping in the Philippines is modest but increasingly expected in tourist service industries. Restaurants: 10% is standard at sit-down places (a 10% service charge is often added at upscale restaurants — included means no additional tip). Taxis: round up to the nearest ₱10–20. Hotels: ₱20–50 per bag for porters; ₱50 per night for housekeeping at international chains. Tour guides: ₱500–1,000 per person per day for private tours. Spa/massage: 10–15%. Sari-sari and street food vendors: no tipping expected. The cultural concept of "tip" (called "tip" in Tagalog or "rebate") is well-understood in tourism contexts but not in everyday transactions.
Best way to get Philippine Peso (PHP)
For USD-to-PHP, multi-currency cards (Wise, Remitly) deliver rates within 0.5–1% of mid-market. Avoid Manila airport (MNL) and Cebu airport (CEB) currency exchange counters — spreads of 5–8% above mid-market are common. Major shopping malls (SM, Ayala) have authorized money changers (Czarina, Sanry's) that offer rates close to bank rates with no fee. For substantial transfers — particularly remittances from US Filipino workers — Remitly, Wise, and PayPal Xoom compete closely; traditional bank wires charge 2–4% in disguised margins. Western Union and MoneyGram are popular for cash-pickup remittances but have wider spreads (3–5%).
Practical money tips for the Philippines
- •Get a tourist SIM card on arrival (Globe, Smart, DITO) — 7-30 day plans available for ₱100–500
- •Grab dominates ride-hailing in Manila and Cebu — much cheaper and safer than street taxis; jeepney rides are ₱11–13 for short distances
- •GCash and Maya are dominant mobile-payment apps for locals but require a Philippine number to set up
- •VAT (12%) is included in displayed prices at chain retailers; no tourist refund scheme
- •Philippines plug types A, B, C (mixed); voltage 220V/60Hz — Americans need adapter but voltage is friendly to dual-voltage US devices
- •Carry small bills (₱20–100) — tricycle and jeepney drivers often can't change ₱500 notes
- •English is widely spoken — Tagalog and Filipino are the official languages but English is the language of business and education
Common money scams to avoid in the Philippines
Common tourist money scams in the Philippines include: card-skimming at standalone ATMs in tourist areas (use bank-branch ATMs only); fake "tour guide" or "free temple/church visit" approaches in Intramuros that turn into pressure shopping; tricycle drivers in Boracay/El Nido demanding 3–5x the agreed fare after the ride (always agree on price BEFORE getting in); "money-doubling" or "investment opportunity" scams targeting OFW (overseas Filipino workers) — these are pyramid schemes; and counterfeit ₱500/₱1,000 notes in change — check the watermark and security thread. Pickpocketing in crowded Manila/Cebu jeepneys is common — keep valuables out of back pockets.
Frequently asked questions
Can I use US dollars in the Philippines?
Some Manila and Cebu tourist businesses accept USD but at terrible rates (5–10% loss). Always convert to PHP. Use an authorized money changer in major malls (Czarina, Sanry's) — they offer rates close to bank rates with no fee.
How much cash should I bring to the Philippines?
Plan on ₱2,000–4,000 ($35–70) per day in cash for tricycles, jeepneys, street food, sari-sari stores, and tips. With cards accepted at hotels, malls, and chain restaurants, your card use covers the rest. Most Philippine ATMs cap foreign-card withdrawals at ₱10,000–20,000 per transaction.
What's the cheapest way to send money to the Philippines?
For USD-to-PHP remittances, Remitly and Wise consistently offer the lowest total cost (typically 0.5–1.5% margin). Western Union charges 3–5% but offers cash pickup at thousands of locations. For OFW family support from Saudi Arabia/UAE, the major Philippine banks (BPI, BDO, Metrobank) all have remittance partnerships with Gulf banks at competitive rates.
Are GCash and Maya available to tourists?
Both apps require a Philippine SIM card and identification documents to set up, so most tourists can't access them. They're ubiquitous for locals — used for tricycle fares, sari-sari purchases, and small online transactions. If you're staying long-term (months+), getting a Philippine SIM and setting up GCash is worth it.
Why does the Philippines receive so many remittances?
Over 4 million Filipinos work abroad — primarily as healthcare workers (US, UK), domestic workers (Saudi Arabia, Hong Kong), seafarers (global shipping), and IT/business-process-outsourcing professionals. OFW remittances total $36+ billion annually — about 9% of Philippine GDP, supporting millions of families and the broader consumer economy.
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Exchange rates refresh hourly from Frankfurter (European Central Bank reference data). Travel money information was compiled in 2026 and reflects current cash/card culture, tipping norms, and common scam patterns.