Where to exchange money in Masbate
Are you heading to Masbate? You will want to ensure you are aware of the local currency and how to obtain it. In addition, you may want to keep track of the current exchange rates and where to change your money to the local currency without getting ripped off.
We will give you a list of the best currency exchanges in Masbate that you can visit in person.
There is also a digital alternative to consider by using Wise. This could save you both time and money.
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Currency exchanges in Masbate
If you have a need to use cash, here are some recommendations to exchange foreign currency in Masbate.
Just remember, there's no such thing as completely free or 0% commission when exchanging money. Always check the mid-market exchange rate beforehand so you know the real value of your money.
| Money Changer | Address | Contact Information |
|---|---|---|
| Gaisano Capital Masbate | 9J6F+2XM, Masbate City, Masbate, Philippines | |
| Cebuana Lhuillier Pawnshop - Masbate 5 | Quezon St, Masbate City, 5400 Masbate, Philippines | +63 910 631 2582 |
| Cebuana Lhuillier Pawnshop - Masbate 3 | Pier Site, Zurbito St, Masbate City, 5400 Masbate, Philippines | +63 939 144 1766 |
| Land Bank of the Philippines Masbate Branch | 9J99+GRR, Quezon St, Masbate City, 5400 Masbate, Philippines | +63 56 333 6966 |
| RCPI (USSC) (Western Union) - Masbate City | Quezon Avenue, Masbate Town Proper, Masbate City, 5400, Masbate, Masbate City, 5400 Masbate, Philippines | +63 56 333 2342 |
| M. Lhuillier Pawnshops | Antonio Street, corner Bulalaque Street near Seaport of Dimasalang, 5VM8+CJM, Masbate City, Masbate, 5403 Masbate, Philippines | +63 56 813 7004 |
| Buntod Reef Marine Sanctuary | 9M62+99F, Mobo, Masbate, Philippines | +63 920 433 8512 |
| Cherish Resort | 9JHC+JXC, Masbate City, Masbate, Philippines | +63 938 920 3212 |
| Sabine's Place Masbate | 9JGM+67G, Nursery Blvd, Masbate City, 5400 Masbate, Philippines | +63 908 504 8527 |
| 7AR Golden Beach Resort and Restaurant | Masbate City, Masbate, Philippines | +63 929 165 2838 |
| Masbate Electric Cooperative Inc. (MASELCO) | Brgy. Pinamarbuhan, 8JVV+CQX, Central Nautical Hwy, Bayan ng Mobo, 5401 Lalawigan ng Masbate, Philippines | +63 56 333 0048 |
| Ranchelle hotel & resort | 9JGC+VV7 boulevard extension, Nursery Blvd, Masbate City, Masbate, Philippines | +63 909 592 3459 |
| First Consolidated Bank - Masbate City | Corner Quezon and Ibanez Street, Masbate City, Masbate, 9J6G+V3V, Masbate City, Masbate, Philippines | +63 56 333 6465 |
Philippine peso rate today
The accepted currency in Masbate and across Philippines is the Philippine peso.
However, when you visit a currency exchange, you'll find that they use currency codes. Specifically, the currency code for the Philippine peso is PHP. Keep an eye out for this code if you're comparing exchange rates.
What you should know about exchanging money in Masbate
When exchanging money in Masbate or any foreign city, it's important to be aware how to get the best deals and avoid excessive charges and hidden fees. If you are planning on staying in Philippines long-term or looking to make a larger investment you could consider opening a local bank account. Otherwise, use the tips below to help avoid getting overcharged.
1. Be wary of 'zero fee' services
Some services claiming 'no commission' often offer poor exchange rates. These may not reflect the mid-market rate, similar to what you'd see when checking the rate on Google. This can lead to higher costs for you and more profits for them.
2. Research the exchange rate
Check what the current exchange rate is so it's easier to spot a bad deal from currency exchanges.
3. Avoid exchanging money at airports or hotels
It may be highly convenient, but airports and hotels will almost always offer poor rates and high transaction fees. Avoid this where possible.
4. Use ATMs strategically
Check if your local bank has partnerships in Philippines banks to avoid unwanted ATM fees. It's becoming less of a requirement, but it can be good to inform your bank before traveling too.
5. Pick local currency on ATMs and card payments
When using an ATM abroad, choose to be charged in Philippine pesos for a fairer rate and fees. The same applies if you get the option on card machines.
Money exchange at the tip of your fingers
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Other currency exchanges
Bottom line
As you can see, there’s no shortage of options when it comes to exchanging money in Masbate. Don't forget to do your research on the exchange rate before converting your money, and check Wise out if you want a fuss-free alternative to exchanging cash.
Please see terms of use and product availability for your region or visit Wise fees and pricing for the most up to date pricing and fee information.
This publication is provided for general information purposes and does not constitute legal, tax or other professional advice from Wise Payments Limited or its subsidiaries and its affiliates, and it is not intended as a substitute for obtaining advice from a financial advisor or any other professional.
We make no representations, warranties or guarantees, whether expressed or implied, that the content in the publication is accurate, complete or up to date.