Diver Dennis
Contributor
Yeah, the nearest ATM is in Batangas but you can always hop on the Blue Penguin and head over. I thought they were going to put one in at the new bank.
Beware of money changer in Sabang: TropiXXX restaurant
- Thread starter hdlee
- Start date
Please register or login
Welcome to ScubaBoard, the world's largest scuba diving community. Registration is not required to read the forums, but we encourage you to join. Joining has its benefits and enables you to participate in the discussions.
Benefits of registering include
- Ability to post and comment on topics and discussions.
- A Free photo gallery to share your dive photos with the world.
- You can make this box go away
If someone agrees to change your money, which essentially they have, once they ask you to countersign the travelers check, then they shouldn't be going back on their agreement. The management should have cashed the check and accepted responsibility for their employees mistake if that's what it was.
They want you to prove that the travelers check is not stolen or counterfeit, but they don't ask you to prove cash is not stolen or counterfeit before they change it.... whats the difference?
The whole selling point to travelers checks is that you can use them like cash in most places, but you can get them replaced if you lose them or they're stolen, unlike cash. In order to get them replaced you need the receipt. A good reason not to carry the receipt in the same place as cash.
They're basically asking you to prove you're not a thief. That along with failure to keep an agreement made by an employee would be enough for me to take my business elsewhere.
There is a fee for using an ATM and as has already been mentioned banks, are charging an additional surcharge (a percentage of the transaction) as well in addition to that.
I've used travelers checks in other countries without the problems that exist there. The end result is bring cash, be prepared to pay the surcharge, or go through the hassle of cashing travelers checks in the Philippines.
If the banks in the Philippines have imposed a practice of requiring copies of the receipts then I think you should complain to American Express or whoever issued your travlers checks that banks are refusing to honor their checks. If they're going along with this practice then thats just another reason to bring cash
They want you to prove that the travelers check is not stolen or counterfeit, but they don't ask you to prove cash is not stolen or counterfeit before they change it.... whats the difference?
The whole selling point to travelers checks is that you can use them like cash in most places, but you can get them replaced if you lose them or they're stolen, unlike cash. In order to get them replaced you need the receipt. A good reason not to carry the receipt in the same place as cash.
They're basically asking you to prove you're not a thief. That along with failure to keep an agreement made by an employee would be enough for me to take my business elsewhere.
There is a fee for using an ATM and as has already been mentioned banks, are charging an additional surcharge (a percentage of the transaction) as well in addition to that.
I've used travelers checks in other countries without the problems that exist there. The end result is bring cash, be prepared to pay the surcharge, or go through the hassle of cashing travelers checks in the Philippines.
If the banks in the Philippines have imposed a practice of requiring copies of the receipts then I think you should complain to American Express or whoever issued your travlers checks that banks are refusing to honor their checks. If they're going along with this practice then thats just another reason to bring cash
Cashing TChecks in PI has always been tough, ever since I first touched ground there in 1990, most money changers in Manila have always asked for the 'receipt'. AMEX makes it very clear you are not suppose to carry the receipt with the originals, but many money changers in PI want to see it. It's just one of 'those things' I try not to use too many TC when traveling these days, but I do carry a few always for emergency.
I have no problem with other money changer when using TC, but their exchange rate a little bit lower than the usd cash (1peso-1.5peso lower than cash for 1 usd). I just want to everyone know that beware the money changer Tropicana here, especially when they ask u sign ur countsign on your TC, be sure to make everything clear before u sign it!
Here in Japan I actually get a BETTER exchange rate for travelers checks that I do for cash! When I'm changing a large amount of money (like I do each month to pay rent, utilities, etc...) it's actually worth it to buy travelers checks and then go to the bank to change to yen.
I'm typically changing $1000 dollar denomination travelers checks and they do not ask to see anything other than my identification. This is the way it's supposed to work.
Sounds to me like the moneychangers in the Philippines have just come up with a way to rip off the tourists...
Similar threads
