Currency exchange at Ayala mall

[the.lone.gunman 3,111]

I heard thru the grapevine that Ayala mall is being renovated and I am wondering if the currency exchange is still up and running there. I will need to exchange $1000.00 Canadian dollars ( about 42,000php) on Friday. Does anyone know if the currency exchange is still operating right now? And will I have any problems exchanging Canadian dollars for pesos?

[TorJay 845]

I never had any trouble exchanging $CAD into pesos anywhere in the Philippines.  The rates were always pretty close unless trying to change Traveller's Cheques.

As for anyone considering $CAD TCs... don't bother.  I only found one place that would cash them.  It was near MBC in Ermita and I got raped on the exchange.

Edited September 22, 2013 by TorJay

[Monsoon 28,940]

I have found the best rates for exchange in Cebu typically were found at the Rain Tree Mall. I forget the name of the exchanger there, but every time I have been there has been some serious money being exchanged by locals accompanied by armed guards - so they must have thought it was the best rate too.

[udonthani 2,027]

it definitely is a real drag about the Philippines that compared to Thailand, where they work fine, travellers checks are pretty much unusable.

 

As for anyone considering $CAD TCs... don't bother.  I only found one place that would cash them.  It was near MBC in Ermita and I got raped on the exchange.

[danoma 94]

FYI, In Ayala, the exchanger in the basement and next to Rustan gives the best rates

[udonthani 2,027]

FYI, In Ayala, the exchanger in the basement and next to Rustan gives the best rates

now there is a surprise (not). Moneychangers are usually never on anything other than the first or ground floor and quite often even in the basement. When did you ever see a bank in a mall anywhere else than on the main surface ground floor. Not very often, if ever.

Edited September 22, 2013 by udonthani

[danoma 94]

now there is a surprise (not). Moneychangers are usually never on anything other than the first or ground floor and quite often even in the basement. When did you ever see a bank in a mall anywhere else than on the main surface ground floor. Not very often, if ever.

Maybe my comment makes sense because they don't all have the same rates (daaaahh !)

Also, You don't seem to know ayala very well as there is, for example, an exchanger on the terrasses of the mall on the second floor.

[smokey 21,891]

I have found the best rates for exchange in Cebu typically were found at the Rain Tree Mall. I forget the name of the exchanger there, but every time I have been there has been some serious money being exchanged by locals accompanied by armed guards - so they must have thought it was the best rate too.

Alcon 

[udonthani 2,027]

you are right there. Every time I drove past, I dreaded it. However surprised a bank, a proper bank with tills, that actually dispenses cash money does business on the 2nd storey.

 You don't seem to know ayala very well as there is, for example, an exchanger on the terrasses of the mall on the second floor.

[roaddog 219]

I learned on my first trip to PI travelers check (American Express cash it anywhere haha) suck. Ben Franklins on the other hand seem to be good everywhere. That's just my opinion take it with a grain of salt.

[hyaku 2,787]

Small place under the stairs where they sell DVDs on Fuente (opposite Robinson/Midtown) gives good rates. I have used them for 10 years. Shop around.

[Skywalker 19,177]

 

a proper bank with tills, that actually dispenses cash money does business on the 2nd storey.

 

Except that there are actually 2 banks on the second floor that dispense cash with proper tills.  BDO and BPI.

 

When you use the Rustans area exchange booth, always ask for a better deal at the window, they will often comply.  Even small amounts add up.

 

The exchange booth that used to be in the basement in Robinsons (Fuente Circle) is now located on the second or third floor.

[TorJay 845]

I learned on my first trip to PI travelers check (American Express cash it anywhere haha) suck. Ben Franklins on the other hand seem to be good everywhere. That's just my opinion take it with a grain of salt.

 

TCs (any flavour) are DEFINITELY NOT good everywhere in the Philippines.  I tried countless places, last time I was there, to no avail.  Only one place in Ermita would cash a $CAD TC and maybe two or three more within the same vicinity would accept $US TCs.  From Makati to Ermita and all over Cebu, I searched high and low WITHOUT much success. 

 

AmEx says all BPI banks accept them.  When I got back home I called them and told them they are full of shit.  The response I got was "they are supposed to." 

 

Here is a screenshot from AmEx's website showing the BPI locations that will accept them.  It is the same list as when I was there last.  Each BPI branch I went to said that they stopped accepting them 2 years ago (which is 4 years ago now as of today's date.)

 

Edited September 23, 2013 by TorJay

[Skywalker 19,177]

As an aside, when I first started visiting Bangkok back in 2000, I used to take Amex Travellers cheques, because the exchange rate was actually better than cash.  Not sure if that is still the same, because I stopped being a traveller a short time later, when I moved there to live.

 

Yes I know that sounds weird, travellers cheques being better than cash - but that was how it was.

[Kabisay-an gid 6,803]

As of March of this year, the BPI branch on the upper ground floor of SM City Cebu Mall would exchange Amex $US travelers checks, $300 daily limit. Make sure you have the receipt you were given when you initially purchased the checks.