Rates Are Up! Get Your Dollars Out From Under The Mattress!

[sonjack2847]

I read earlier that the Peso will perform badly in 2018.Somebody wrote mmm food will go up  but I think the rise in the cost of living might be balanced by the extra Pesos we get,well hopefully.

[OnMyWay]

17 minutes ago, sonjack2847 said:

I read earlier that the Peso will perform badly in 2018.Somebody wrote mmm food will go up  but I think the rise in the cost of living might be balanced by the extra Pesos we get,well hopefully.

Yes, for us, but maybe not so good for locals!

[scott h]

7 minutes ago, OnMyWay said:

but maybe not so good for locals!

tough!!!! 

[russellmania]

On 10/25/2017 at 7:02 PM, Dave Hounddriver said:

Have any of you folks who use your Capital One card from the US had any trouble here?

I ask because  I used mine in Philippines for quite a few years before someone opened their eyes and said:  Wait a minute, are you living in Philippines?  So they cut off my card until I went back to Canada and actually phoned them from my home phone.  (I tried to get my brother to call and say he was me but he had done that before and said that enough is enough  )

Now I don't use the card in Philippines but I have used it recently to transfer money to my Philippine bank account when I was buying a car.

Yep I did have a problem on my last trip when I needed to furnish my new place. In the past I would give Cap One a travel notice, but since they added the chip they say it was no longer needed. So I went shopping in Gaisano Tabunok I was about to get rung up for 30 inch TV, Fridge,2 beds with mattresses,etc etc and came to about $600.00. I gave the clerk my card,she swiped it,,SORRY SIR it was declined. She ran it again with same result. Now I gotta call Cap One international customer service to find out WTH was going on. They got me on hold.and everyone including the customers waiting are staring thru me now. A customer rep finally answers then starts asking me about 3 or 4 security questions!!! This was really the second time it happened to me and I was really teed off. They finally approved the purchase. Either we have to give a travel notice or not, which is it? I have been using Cap One CC in the phils for at least 5 or 6 yrs.

[Dave Hounddriver]

34 minutes ago, russellmania said:

I have been using Cap One CC in the phils for at least 5 or 6 yrs.

Me too but I keep a back up card so if (when) Cap One screws me over in the middle of an important transaction then I can switch.

EDIT:  I expect I'll be good for a while as I went back to the real world for Christmas and got a renewal card, activated it from my home phone number and made a purchase in Walmart so they know I have not skipped the country on them.  That is what they are really worried about, I'd say.

Edited January 11, 2018 by Dave Hounddriver

[intrepid]

I did have one time two months ago my Capital One was declined at Mercury Drug.  I asked them to swipe it again and it worked.  Then the next month it happened again and they would not swipe it second time.  They wanted another card or cash.  No problem I said.  Walked across the street to Watsons Drug got what I needed and the Capital One worked fine with no calls needed.  I am sure it was Mercury Drugs card reader.  I have used mine several times a week for the past year and no other issues.  Good luck.

Edited January 11, 2018 by intrepid
spelling

[Clermont]

3 hours ago, intrepid said:

I did have one time two months ago my Capital One was declined at Mercury Drug.  I asked them to swipe it again and it worked.  Then the next month it happened again and they would not swipe it second time.  They wanted another card or cash.  No problem I said.  Walked across the street to Watsons Drug got what I needed and the Capital One worked fine with no calls needed.  I am sure it was Mercury Drugs card reader.  I have used mine several times a week for the past year and no other issues.  Good luck.

Yeah I've had the same problem with Aussie cards, just went to another ATM worked fine.

[earthdome]

7 hours ago, Clermont said:

Yeah I've had the same problem with Aussie cards, just went to another ATM worked fine.

The new chips in the cards can go bad. I had that happen recently to my Cap One card. I called customer support (provided by a call center in the Philippines) and they sent me a new card overnight fedex. I got a chuckle at the end of the support call when I told him salamat. Regardless of why it is important to have more than one credit/debit card. I like to carry two from different financial companies then keep a third in reserve in safe keeping just in case the other two get stolen when I am out and about. Don't forget to have some emergency stacks of cash hidden away somewhere. Cash almost always works. The worst thing is to be in a foreign country with no money.

Now back to our regular topic of FX rates. Glad to see them pop back up over 50 peso per USD after the holidays.

[OnMyWay]

Rates have been zooming back up the past few weeks after getting down to under 50 at the end of the year.  51.58 on XE right now.  Maybe we will hit 52 this time.  High for the past 12 months is 51.98 in October.

 

Edited February 1, 2018 by OnMyWay

[intrepid]

52 or more.  I hope so too.   Will be watching and waiting  AND enjoying while it lasts.