Cash or card in the Philippines: Which is the best way to pay?

If you plan on visiting the Philippines soon, you’re likely in the middle of working out your travel budget. No matter how much money you plan on spending, it’s also important to know the difference in financial habits between the UK and Filipino locals.

The Philippines is a traditionally cash-oriented country, but that is starting to shift. Now more than ever, people are starting to use cards and mobile wallets much more frequently. However, there are still things you can only pay in cash. We’ll go into more detail to help answer the question - which is more convenient, cash or card in the Philippines?

We’ll also show you a cost-effective way to manage your spending in the Philippines. For any international purchases, whether online or in person, you can rely on the Wise card. You can even withdraw cash like a local at the mid-market exchange rate for low fees*.

How cash-centric is the Philippines?¹

The Philippines is a rather cash-oriented country, since this is still a very popular payment method. However, that’s starting to change - so much so that a third of Filipinos believe that they will become a cashless society by 2030.

Filipinos are starting to embrace the convenience of going cashless in their daily lives. Over 40% of them use less cash than they did a few years back. However, this is mainly the case with young people.

Cash use has dropped in the past few years. Today, around 87% of Filipinos use cash, compared to 96% in 2022.

Cash etiquette in the Philippines²

Tipping isn’t a part of Filipino culture, but it has become more common due to the influence of tourism. The regions most visited by tourists are the places where it has become normal to tip service workers.

Filipinos and tourists tip hotel staff, taxi drivers, tour guides and waiting staff. The appropriate tip amount in restaurants is around 10%, while you should leave 50-100 pesos for housekeepers in hotels.

Leaving cash tips is the best method, since this way the tip reaches the intended person directly.

Cash or card in the Philippines - the comparison

We’ve listed some situations where you’ll be paying for things in the Philippines. Here’s whether you’ll be able to pay by card, in cash or both:

Payment for…	Card 💳	Cash 👛
🚕 Taxis3	Sometimes (you can pay with GCash in Grab taxis)	Yes
🏪 Convenience stores4	Sometimes	Yes
☕ Coffee shops4	Sometimes	Yes
🚌 Public transport5	On select lines with a Mastercard	Yes
🍽️ Restaurants4	Sometimes	Yes
🦐 Palengke (wet market)4	No	Yes
♨️ Kawa bath	Sometimes (if it’s part of a tour)	Yes

Using your card in the Philippines at an ATM⁴

There are over 25,000 ATMs in the Philippines. They’re usually open 24/7 and they accept international cards. Philippine ATMs are pretty much the same as any other ATM in the world, so using them won’t be complicated.

There are both foreign and domestic banks in the Philippines. The withdrawal limit is up to 40,000 pesos and fees are usually around 250 pesos.

Will my UK debit card work in the Philippines?⁴

Yes, you can use your UK debit card for withdrawing and spending in the Philippines.

Can I use my UK credit card in the Philippines?⁴

As long as you’re visiting a place that accepts cards, you’ll be able to use your UK-issued credit card in the Philippines.

Reasons to use cash in the Philippines

There are many places in the Philippines that don’t accept any form of payment except for cash. This is especially noticeable if you’re staying in a smaller town where you’ll really be blending in with the locals.

Not having cash means missing out on some memorable activities, such as going to markets, local restaurants and street vendors. Also, if you like to tip, it’s best to do it in cash.

Reasons to use credit or debit cards in the Philippines

The Philippines is becoming more cashless and cards are now the number one payment method. If you plan on visiting big cities and focusing on more luxurious hotels and restaurants on your vacation, cards will suffice.

Cards are also a much more convenient option than cash. When you rely on them, you don’t have to worry about running out of cash or looking for an ATM. Plus, you’re safe from pickpockets.

Are contactless card payments common in the Philippines?¹

Contactless payments are becoming more common in the Philippines as the time goes by. Right now, 32% of Filipinos use contactless cards, while 55% use QR codes. The contactless limit is 5,000 pesos when using a Mastercard, after which you’ll have to enter your pin.⁶

Other payment methods in the Philippines

Besides traditional credit and debit cards, other payment methods are also available in the Philippines.

Mobile payment⁷

Well-known mobile wallets like Google Wallet, Apple Pay and Samsung Wallet are not available in the Philippines at the moment. Instead, Filipinos use local apps made for digital payments. At the moment, GCash and Maya are the leading options when it comes to mobile wallets. It’s also worth mentioning Lazada Wallet, GrabPay and Seabank.

The only international payment app Filipinos can use is PayPal. Around 50% of wallet users also use PayPal for different things.⁸

Buy now pay later options (BNPL)⁷

Since 2023, BNPL options in the Philippines have been on the rise. Many people like splitting their purchases into instalments and paying them off over the course of a few months.

BillEase and Cashalo are some of the most popular BNPL companies in the country. Cashalo only offers instalments, while BillEase also offers users a credit line of up to 40,000 Philippine pesos.

Some other local BNPL options are Plentina and Mocasa.

What is the best way to pay in the Philippines: cash or card?

Even though the Philippines is becoming more modern payment-wise, it’s still impossible to go completely cashless. There are plenty of situations where you’ll be needing cash, such as tipping, visiting local markets and buying street food.

Depending on your vacation style, you might be able to use only cards during your trip. However, having some cash is still the best option.

Spend like a local in the Philippines with the Wise card

Want to spend like a local in the Philippines and in 150+ countries without worrying about exchange rates and hidden fees? The Wise card might be just the option you were looking for.

The Wise card can be used for international payments, from your accommodation costs to daily expenses. It automatically converts your pounds at the mid-market exchange rate with only a small, transparent currency conversion fee*.

By saving money on fees, you’ll have more pesos to spend on your trip!

Plus, you can also use your Wise card to easily withdraw cash from the ATMs in the Philippines. Each month, you can make 2 withdrawals of up to 200 GBP for free. After that, there is a small charge of 0.5 GBP per withdrawal*.

Learn more about Wise card 💳

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Cash or card in the Philippines - FAQs

Here are some of the most frequent questions about using cash or cards in the Philippines:

Will my debit card work in the Philippines?

You can use your UK debit card wherever they accept card payments.

Is it better to use pesos or a credit card in the Philippines?

It may be better to use cash, since cards are not accepted everywhere.

How much money can you bring to the Philippines from the UK?

You can bring in up to 50,000 Philippine pesos from the UK. If you’re bringing more than 10,000 USD in foreign currency, you must complete a foreign currency declaration form on arrival.⁹

What is the best currency to use in the Philippines?

The best currency to use is the local currency - the Philippine peso.

Should I exchange money before going to the Philippines?

You don’t need to buy pesos before arriving in the Philippines, especially if you have a Wise debit card. If you wish, you could bring a small amount with you just in case.

Can I use Revolut in the Philippines?

Yes, Revolut cards can be used in the Philippines.¹⁰

Can I use my Wise card in the Philippines?

Yes, you can use your Wise card in the Philippines to enjoy auto-conversion on all your holiday spending at the mid-market rate for a small, transparent fee*.

Why not also check out the Wise account? There’s no limit on how much you can hold in your Wise account and it can hold over 40+ currencies. You can also add, receive, or send up to 9M PHP (or equivalent in any currency), per transfer*.

Your Wise account awaits 🌏

Please see the Terms of Use for your region or visit Wise fees & pricing for the most up-to-date information on pricing and fees.

Sources used:

1. Visa - study on decline in cash payments in the Philippines
2. Crown Currency Exchange - tipping in the Philippines
3. Primer - riding a taxi in Metro Manila
4. ATM Fee Saver - cash and ATMs in Philippines
5. Top Gear Philippines - guide to contactless fare payment for public transport in PH
6. Bank of the Philippine Islands - BPI Debit Mastercard
7. NORBr - payment methods in the Philippines
8. Inquiro - cashless payment in the Philippines
9. Gov.uk - entry requirements for Philippines travel
10. Revolut - Philippine peso card

Sources last checked on date: 24-Jul-2024