Generally, most ATMs in the Philippines charge around 250 PHP as a provision for cash withdrawal, many also have 10,000 PHP max withdrawal. Because the Philippines is a country where cash is needed it can result in quite high fees for getting money. Below, I will describe ways I have found to avoid high fees (some methods still have some fees but are way lower than those presented above). Additionally, when writing these words from Palawan I see that the ATM network is not that good here so it is worth knowing how to get cash when there is no ATM around.
HSBC bank ATMs
As mentioned in an article about bank accounts (How to open a bank account in Philippines: a guide for expats and tourists), there is an HSBC bank in the Philippines. HSBC bank allows for free cash withdrawals with foreign cards and also for pretty big amount withdrawals at one time. The only problem is that HSBC has only a few branches in the biggest cities in the Philippines (for sure Cebu and Manila, if you saw it in other places let me know in the comment). The only fees that will be charged on your card/bank side for currency exchange and foreign ATM withdrawals.
Based on the HSBC website, you can find HSBC ATMs in Manila, Cebu and Davao.
Check more on: hsbc.com.ph/branch-finder
Maya (wallet)
Maya is the second most popular wallet service (after Gcash) in Philipinnes, it also allows for full verification for foreigners without ACR cards. This option is for people who will spend a longer time in the Philippines or travel more often because it takes more time to pass the whole process. I’ve tried to pass my KYC for a long time and I always had some problems, I finally contacted customer support and managed to pass their verification.
After fully activating an account, you can transfer foreign money to Maya, for example, Wise, and then you can order a physical card through the app (with a few days’ delivery) for 250 PHP (December 2024). When you get the card, you can use some ATMs for free or with a small fee.
Check more on: maya.ph
Coins.ph (crypto exchange) + Cash-pickup
This option is for crypto lovers. I wanted to learn more about Filipino crypto exchanges, I’ve registered on Coins.ph and I’ve found that KYC was pretty simple. You can simply transfer your favourite crypto, change it to PHP and pick up money in one of available Cash pickup stores. What I’ve noticed in Palawan, is that Cash pickup stores are more popular than ATMs, so it can be a good option if you will find yourself in a more remote area.
Check more on: coins.ph
Remitly (Wise style online exchange) + Cash-pickup
This option is similar to the previous one, but with a twist, you don’t need to be a crypto expert to pick up cash from one of the cash pickup stores. Remitly is a service similar to Wise that easily allows one to send and exchange money in different currencies.
Check more on: remitly.com
