Atms & Money Changers in Boracay Island – Philippines – Touring the island of Boracay can be fun especially with the wide range of activities that it offers. However, there are instances when you find yourself short of cash and tempted to use your plastic. Here are some tips on how you can make the best transaction when it comes to money-ATMs-money changers in Boracay.
Making financial transactions such as banking and money transfer in Boracay is limited but can be enough. Located in the heart of Boracay, DMall is the newest commercial establishment sprawling with state-of-the-art shops, snack bars, cafeterias, and restaurants. A BPI maintained automated teller machine is located nearby. You can make withdrawals several times up to a maximum of PHP 20,000. Recently, Bank of Philippine Islands has upgraded their machine so it would accept VISA transactions.
Aside from DMall, there is a money changer located at the Tourist Center which accepts VISA transactions for cash payments. However, you will be charged a 7.5% commission which is more than the regular fee charged by Philippine hotels and resorts for credit card purchases.
The best payment method in Boracay is cash. Most local money changers accept US dollars and Euros. Other modes of payment may be subjected to additional commissions which are more than the normal range or may not succeed. When it comes to money-ATMs-money changers, avoid paying by travelers cheque as much as possible.
Only a few merchants in Boracay Island allow credit card transactions. Again the most advisable payment method in the island is cash. Thus, before planning your trip, make sure that you have sufficient amount of Philippine pesos.
Although money-ATMs-money changers can be found within the area, you can find a better exchange rate or encash travelers check in Metro Manila before you make your trip. There are reliable foreign exchange establishments in Makati such as Sanrys that offer better exchange rates than what is offered by banks.
When it comes to money-ATMs-money changers, avoid making transactions at the tourist center. After the transaction, you will get the feeling that you were robbed since the exchange rate is 3-5% higher than what you would normally get. There are establishments in Boracay that provides better rates; it is all just a matter of looking around.
The best thing for you to do is to buy PHP 10000 before leaving so that you would not have to do it on the island and have a fun time. Likewise, you can use your credit card or ATM to pay for hotel accommodations. However, when it comes to money-ATMs-money changers in Boracay, you should always have an alternative plan.
If you are staying for a week, having PHP 10000 is enough to sustain your needs. Food is worth a hundred bucks. Drinks and San Mig Light will cost you around PHP 25 to PHP 50 depending on the establishment you are in.
By taking note of these tips about money-ATMs-money changers in Boracay, making the most out of your trip will never be a problem.