Money in the Philippines: cash, ATMs, cards and tipping in Palawan

The Philippine peso: notes and coins

The Philippine peso (₱, code PHP, also written piso) is divided into 100 sentimo, though you will rarely see anything smaller than ₱1. The exchange rate moves daily; in late 2026 it hovers roughly around ₱57-58 to the US dollar, so ₱1,000 is about $17 and ₱100 is a little under $2. Check a live rate before you change money rather than relying on any figure printed in a guide.

Banknotes come in ₱20, ₱50, ₱100, ₱200, ₱500 and ₱1,000. The Bangko Sentral ng Pilipinas (BSP) introduced a polymer ₱1,000 in 2022 and polymer ₱50, ₱100 and ₱500 notes in December 2024, featuring native wildlife such as the Palawan peacock-pheasant on the ₱100. Paper and polymer notes are both legal tender and circulate side by side, so do not be surprised to get a mix. Coins come in ₱1, ₱5, ₱10 and ₱20; the ₱20 coin has largely replaced the old ₱20 note, which is still valid.

ATMs mostly dispense ₱500 and ₱1,000 notes, while tricycle drivers, market stalls and small canteens prefer ₱20 to ₱100. That mismatch shapes much of the advice below.

Why money in the Philippines means cash in Palawan

In Manila, Cebu and big malls you can pay by card or phone almost everywhere. Palawan is different. The El Nido Eco-Tourism Development Fee, Coron's lake and lagoon fees, port terminal fees, tricycles, vans booked on the street and many of the El Nido restaurants off the main beach are paid in cash. Brownouts and weak signal also knock out card terminals, so even places that accept cards sometimes ask for pesos.

The rule that works is simple: arrive in each town with enough cash for the next few days and treat ATMs as a top-up, not a plan. The further you go from Puerto Princesa, the more this matters. Port Barton is largely cash-based with only a few machines, and the remote Balabac islands have no ATMs at all, so everything for an expedition there is withdrawn in Puerto Princesa or Rio Tuba beforehand.

ATMs in Puerto Princesa, El Nido, Coron and Port Barton

Puerto Princesa is the easiest place on the island to withdraw: the city has branches of the major Philippine banks along Rizal Avenue and in its malls. It is the best place to stock up before the long van ride north. El Nido town has a handful of bank ATMs within walking distance of the beach, and Coron town has several more, but both are known to run out of cash on weekends, holidays and in the December to April peak, sometimes for a day or two until the next delivery. Lio, Corong-Corong and the island resorts have few or none.

Foreign cards are typically charged a local fee by the ATM owner, reported at around ₱250 (about $4.40) per withdrawal at most Philippine banks, on top of whatever your own bank charges. Per-withdrawal limits for foreign cards are reported at ₱10,000-20,000 (about $175-350) depending on the bank and the machine, so taking out a larger amount means several fees. Withdraw the maximum each time rather than small sums, and check the on-screen fee before you confirm.

When an ATM offers to charge you in your home currency, decline: that conversion, known as dynamic currency conversion, uses a worse rate than your bank. Use machines inside bank branches or malls during opening hours, so that if one swallows your card someone can retrieve it.

Credit cards, GCash and Maya

Visa and Mastercard are accepted at most mid-range and upscale hotels, dive centers, larger restaurants and agencies selling island hopping tours, but small businesses often add a surcharge, commonly reported at around 3-5% even though a 2006 trade department order bans card surcharges, or prefer cash. Booking hotels and multi-day boat trips online in advance shifts the biggest payments onto your card and reduces how much cash you carry. Bring two cards from different networks in case one is blocked or a terminal rejects it.

Filipinos pay for almost everything with e-wallets, mainly GCash and Maya, by scanning a QR code at the counter, and you will see those codes in shops, cafes and even on boats. Opening a full account normally requires a Philippine mobile number. GCash has a short-term tourist account, GTourist, which its help center says is available only to US numbers (+1) for now, valid for 30 days and activated once you are in the Philippines after a passport check. In August 2026 GCash and Mastercard also announced Pay Local, letting eligible foreign visitors pay QR merchants with their own Mastercard through the GCash app; check the app for whether it is live and which cards qualify. Our SIM and eSIM guide covers getting a local number.

Changing money and bringing US dollars

Bringing some cash from home is a sensible backup. US dollars are the easiest to change, followed by euros, pounds, Australian dollars and other major currencies. Licensed money changers in Puerto Princesa, El Nido and Coron often give better rates than airport counters or hotels, but they are fussy: bring clean, undamaged recent-series notes, as torn, stained or written-on bills are often refused or bought at a lower rate, and larger denominations such as $100 can get a better rate than $20s. Count the pesos at the counter before you walk away.

There are limits on how much cash crosses the border. Under BSP rules you may bring in or take out up to ₱50,000 (about $870) in Philippine pesos; more requires prior written authorization from the BSP. There is no cap on foreign currency, but amounts above US$10,000 or its equivalent must be declared in writing, through the electronic currency declaration that is part of the eTravel arrival registration explained in our safety and entry rules guide. Undeclared amounts can be confiscated by Customs.

Tipping in the Philippines: restaurants, boat crews and guides

Tipping is not mandatory in the Philippines, but it is appreciated and wages in tourism are low. Many restaurants and hotels add a service charge, usually 10%, shown on the menu and the bill. Under Republic Act 11360 of 2019, all of the service charge must be shared among the staff other than managers, so if it is on the bill you need not add more, though rounding up for good service is common. Where there is no service charge, leaving around 5-10% at sit-down restaurants is a generous norm, while canteens and street stalls do not expect a tip.

On island hopping days, the boat crew and guide cook lunch, carry gear and steer you through the lagoons, and many travelers leave around ₱100-200 (about $2-3.50) per person for the crew at the end of a good day, handed to the guide or captain. Similar amounts are usual for a dive guide, a private driver or a van driver who handles heavy luggage. Porters and housekeeping get small notes, ₱20-50, and spa therapists often around ₱50-100. Tip in pesos and in small bills.

Small change, scams and keeping cash safe

Break ₱1,000 notes whenever you can, at supermarkets, convenience stores, pharmacies and hotel front desks, because tricycle drivers and small shops often cannot change them. Keep a separate stash of ₱20, ₱50 and ₱100 notes for fees, fares and tips. Agree on tricycle and private boat prices before you set off, and count your change, especially when paying with a large note in a busy place.

Theft in Palawan is mostly opportunistic: phones and cash taken from beaches, rooms and crowded vans. Split your money between a wallet for the day, the room safe and a hidden reserve, carry a card that is not linked to your main account, and tell your bank you are traveling so that payments are not blocked. Shield your PIN at ATMs and avoid using machines that look tampered with. Before you fly, make a list of fees and big purchases you will pay in cash, then add a buffer for weather delays: a cancelled ferry or flight can mean an extra night where the only ATM is empty.