Most banking apps have an “ATM locator” feature that can help you find the closest option. For example, Citibank and HSBC have ATMs in the Philippines. Use your bank’s ATM abroad for withdrawals where possible: If you have to exchange more money while abroad, your best bet is to find an ATM in your home bank’s network, as that can help you save on fees. While CXI doesn’t charge any exchange fees, it will charge you up to $30 for overnight shipping, Just be sure to do your research and to keep an eye out for high fees. Order currency online: If you can’t order online through your bank, you can also have currency delivered to your door by third-party providers like Currency Exchange International (CXI). For example, TD Bank charges its customers $7.50 for each currency conversion transaction. Since you have an existing relationship with the bank, it’s more likely to give you the best exchange rates.
Us dollar to php pesos how to#
$500 USD x 54.92 = ₱ 27,460 PHP How to Buy Philippine PesosĮxchange at a bank or credit union before your trip: Exchanging money at your local banking center before your trip is likely the most cost-effective way to get the money you need. In that case, your conversion equation would look something like this: Say that you have $500 USD and you want to know how much money you would have for a trip to the Philippines. At the time of writing, $1 USD is equivalent to ₱ 54.92 PHP. However, before you can get started, you need to know the current exchange rate. The other option is to calculate the conversion manually. Individual merchants may also pass along their own fees if you ask them to convert a price into your home currency at the cash register.
For example, most credit card processors and ATM networks charge a 1% conversion fee on all foriegn transactions. Keep in mind that exchanging currency typically comes with fees that won’t be factored in by a calculator. Since exchange rates change often, using a calculator will help ensure that your conversion is correct. Using a currency conversion calculator is a great way to estimate how much money you’ll have to spend on your trip. There are two ways to calculate approximately how many Philippine pesos you can get for your dollar: You can either use a conversion calculator or convert it by hand.
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