Travellers Cheques

[Gerry the Brit]

Hi wonder if you guys can advise me.

 

I have always used travellers cheques when I've had a vacation in Europe, and I always bring one credit card with me.

On internet there are sites that say bringing Travellers Cheques to the Philippines is a waste of time.

 

I still intend to bring one credit card with me, for emergency and to pay my hotel bill, I have no intention of using my credit card for anything else.

 

I will be staying in Davao, and I am concerned as to if I can get Travellers cheques exchanged for Peso's.

I am very wary of bringing in a lot of cash.

My hotel is very close to SM Lanang Mall, would I be able to exchange travellers cheques there.

 

Thanks in advance for any help and advice.

[nigelmac]

Hi Gerry i spend a hell of a lot of time travelling at least 6 months a year this is the best option i have found to have east=y access to cash anywhere in the world and its safe 

 

http://www.caxtonfx.com/currency-cards/currency-cards-for-you/

 

 

you charge them as and when is needed this is not the only example check out money supermarket there are lost of different types but it beats travelers cheques hands down 

 

good luck

[JJReyes]

Traveller's are no longer popular, but you could still exchange them at Philippine banks and the larger luxury hotels. My wife and I usually have some as our reserve fund and for emergency situations. American Express seems to be the most recognized worldwide. They also have offices in major cities who will exchange the checks issued by their company for local currency. 

 

Our bank does not charge a fee. Once we return home, the checks are deposited in our account.

[Old55]

Your best bet is ATM card.

[MikeB]

I still intend to bring one credit card with me, for emergency and to pay my hotel bill, I have no intention of using my credit card for anything else.

You may not have the intention to use it but in a medical emergency that little piece of plastic can save your life. I would bring at least 2 MasterCharge/Visa type and keep them in separate places. Always wise to have a backup. Don't forget to inform the issuing bank where you're travelling. 

 

I moved your topic from Introductions to Banking.

[MacBubba]

On internet there are sites that say bringing Travellers Cheques to the Philippines is a waste of time.

 

I would agree.  We actually had some luck cashing them in while in Palawan, but they had a fairly low max.  At MOA, we tried several banks, and they said they had stopped accepting them.  Maybe the luxury hotels still accept them, but we didn't try.  We just ended up taking them back to Canada.

 

Good thing we had other sources of funds.

[Gerry the Brit]

Hi Gerry i spend a hell of a lot of time travelling at least 6 months a year this is the best option i have found to have east=y access to cash anywhere in the world and its safe 

 

http://www.caxtonfx.com/currency-cards/currency-cards-for-you/

 

 

you charge them as and when is needed this is not the only example check out money supermarket there are lost of different types but it beats travelers cheques hands down 

 

good luck

Thanks Nige, the caxton currency card looks good. Will the ATM's in the Philippines allow me to take out the max daily allowance of £300 should I need it

[nigelmac]

 

Hi Gerry i spend a hell of a lot of time travelling at least 6 months a year this is the best option i have found to have east=y access to cash anywhere in the world and its safe 

 

http://www.caxtonfx.com/currency-cards/currency-cards-for-you/

 

 

you charge them as and when is needed this is not the only example check out money supermarket there are lost of different types but it beats travelers cheques hands down 

 

good luck

Thanks Nige, the caxton currency card looks good. Will the ATM's in the Philippines allow me to take out the max daily allowance of £300 should I need it

 

Gerry I don't know mate I am like you preparing my trip to the PI but in other countries i have never had a problem maybe some of the guys on here could answer that question?

[robert k]

Many ATM's with have a maximum transaction of 10,000 piso, I found that they would allow me to make at least the two transactions [ two separate fees ] which was generally as much as I needed in a day, except when I bought a motorcycle :). Having multiple cards to multiple accounts may help. Cash is king many places. I never saw a card reader at the wet market. The motorcycle was deeply discounted as a cash purchase and so on.

[Mike S]

Don't bother bringing Travelers Checks as most places here in the Philippines will not cash them ..... many of the high tourist traffic areas like Angeles .... Subic and Cebu constantly tell tourists (on other boards) not to bother with them and if they do find someone who will cash them the exchange rate is very low .... not sure just why they are not excepted here as to me they (in most countries) a secure means of bring funds into a country .... unfortunately cash is king in the Phils ..... JMHO .... :thumbsup:

:cheersty: