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.
__________________
Earthmark: On the Colon extension, near the Dumaguete Mission Church & School. Where the foreigner lives . . . with his wife and family |