⌛ Money

We are arriving in Duma on Monday Dec 8th. My wife has sent some money to her Visa Electron, we just found out that the limit she can send to that card is 100,000 php.

Question - should we need more money - what would work better
- Bring some Travellers Checks in US Dollars?
- Using my Mastercard at a local bank for cash advance?

Pretty sure my bank card did not work last time (we are from Canada).

 

Travellers checks are cashable, but are not welcome, especially at hotels.
Better to do what everyone else does, bring $10K in new $100 bills.

 

Actually 100k-500k in 100 and 500php notes is even better but it makes a huge lump in your pockets. I find it better to get the visiting country currency before I go. BOA is pretty good at getting foreign currency if you have an account and give them at least a week notice.

 

Cirus, Visa and Master Card bank cards are accepted here at most ATM points.
You can use google to search for atm's in the Philippine's and dumaguete so you know where they are when you arrive.

 

I use my Canadian bank card for cash withdrawals in the Philippines as I need the money. The single transaction limit is 10K pesos at most machines. It may be less at some locations, so check. Your bank may impose a daily withdrawal limit as well. VISA and MC work equally well (for me) but the withdrawal is considered a cash advance and attracts interest unless your account is in a + condition.

Why buy cash overseas, when you can get it at competitive rates here as you require it?

Bring USD 10K with you, if you insist - but not a penny more! There are international restrictions against crossing borders with undeclared cash in excess of USD 10K. It's a measure against money laundering. Some really stupid cops here found out the hard way on a recent boondoggle, er business trip to Moscow.