Money in the Philippines

Quick answer

• Currency: the Philippine peso (PHP, ₱).
• Cash is king outside cities: carry pesos for boats, tricycles, small shops and island resorts.
• Cards: widely accepted in hotels, malls and city restaurants, and on Manila's MRT-3 and LRT-2.
• ATMs: easy to find in towns, rarer on small islands. Expect a local fee on foreign cards.
• Border limits: declare foreign currency over USD 10,000; more than ₱50,000 in pesos needs central bank approval.

The short answer

The Philippines runs on the peso (PHP, written ₱). In Manila, Cebu and other cities you can pay by card in hotels, malls, chain restaurants and many shops. Once you head to smaller islands, cash takes over: boats, tricycles, jeepneys, markets, small resorts and neighbourhood sari-sari stores usually take pesos only.

The simplest plan is to bring a debit card that works abroad, a credit card as backup, and some cash in a major currency for emergencies.

Cash and ATMs

• ATMs are easy to find in cities and towns, at malls, banks and airports.
• Foreign cards usually pay a local fee per withdrawal, on top of anything your own bank charges, and many machines cap how much you can take out at once. Fewer, larger withdrawals keep fees down.
• Small islands may have one ATM or none, and machines can run dry over weekends, holidays and festivals. Withdraw what you need before you leave the city.
• Choose to be charged in pesos when a machine or card terminal offers to convert to your home currency; the conversion rate offered at the machine is usually worse.

Cards and digital payments

Visa and Mastercard are widely accepted in cities. Some smaller places add a surcharge for card payments or set a minimum spend.

In Metro Manila, MRT-3 gates have accepted contactless bank cards since July 2025, and LRT-2 added them in July 2026, so you can tap in without buying a Beep card.

Filipinos use e-wallets such as GCash and Maya heavily, often by scanning QR codes. For short visits, cash and cards are usually simpler.

Exchanging money

US dollars are the easiest foreign currency to exchange, followed by other major currencies. Licensed money changers in malls and city centres usually give better rates than the airport or your hotel. Bring clean, undamaged notes, compare a couple of rates, and count your pesos at the counter.

Keep small change

Carry ₱20, ₱50 and ₱100 notes and coins for daily spending. Tricycle drivers, jeepney drivers, market stalls and small shops often can’t change ₱500 or ₱1,000 notes, especially early in the day. Break big notes at supermarkets, convenience stores and malls.

Cash limits at the border

The rules are set by the Bangko Sentral ng Pilipinas and enforced by the Bureau of Customs:

• Philippine pesos: you can bring in or take out up to ₱50,000 per person. More than that needs written authorisation from the Bangko Sentral and a declaration of the whole amount.
• Foreign currency: there is no limit, but amounts above USD 10,000 or its equivalent must be declared in full when you arrive or leave.

The declaration is part of the eTravel registration, which also covers customs. See our guide Do I need a visa for the Philippines? for how eTravel works.

Money tips

• Tell your bank you are travelling, so your card isn’t blocked.
• Keep two cards in different places, in case one is lost or swallowed by an ATM.
• Carry a little more cash than you think on island-hopping days and long road trips.
• Prices in tourist areas can be negotiable for tricycles, boats and souvenirs; agree the price before you start.

Frequently asked questions

Should I bring cash or use cards in the Philippines?

Both. Cards are fine in hotels, malls and city restaurants, but boats, tricycles, jeepneys, markets and many small resorts take cash only. Withdraw pesos from ATMs in towns before heading to small islands.

How much cash can I bring into the Philippines?

Up to ₱50,000 in Philippine pesos without approval from the Bangko Sentral ng Pilipinas. Foreign currency above USD 10,000 or its equivalent must be declared on arrival or departure.

Are there ATMs on the islands?

In cities and big towns, yes. On small islands and in remote areas there may be one machine or none, and it can run out of cash on weekends and holidays. Take out enough before you go.

Where should I exchange money?

Licensed money changers in malls and city centres usually give better rates than airports and hotels. Count your money at the counter before you walk away.

Do I need small change?

Yes. Drivers, small shops and market stalls often can't break ₱1,000 notes. Keep ₱20, ₱50 and ₱100 notes and coins for daily spending.

Can I pay with my card on Manila's trains?

On MRT-3 and LRT-2, yes. Their gates accept contactless Visa and Mastercard cards. Your bank may add a foreign transaction fee.