Bank notes are circulating in following denominations: 20 Peso, 50 Peso, 100 Peso, 200 Peso, 500 Peso, 1000 Peso. Coins: 1 Peso, 2 Peso, 5 Peso, 10 Peso.
1 U.S. dollar = 44 PHP (March 2014)
1 EURO = 62 PHP (March 2014)
In Boracay is a large number of ATMs of following banks:
Allied Bank, Metrobank, BPI (Bank of the Philippine Islands), PNB (Philippine National Bank) and BDO (Banco de Oro). In all these banks it is easily possible to get money with common credit cards. VISA Card, MasterCard, American Express, etc., partly Cirrus and Maestro are being accepted. ATMs in Boracay are almost all along the main road (Manggayad, Balabag Road), some at D´Mall area, or at the beachfront in front of White Beach. The current maximum amount per withdrawal is 10,000 Pesos. Banks are charging a fee of 200 Pesos per withdrawal at ATMs.
In addition there are numerous exchange offices in Boracay where foreign cash like Euro, Korean Won, Japanese Yen, U.S. Dollars and other currencies can be exchanged into Filipino pesos. Travelers checks are also accepted.
In order to carry out money transfers to a Philippine bank account it needs SWIFT code, account number and the international routing number of the recipient. Remittances from the U.S. or Europe will take about five to ten days until the amount is credited to the Philippine recipient. For money transfer from a Philippine bank account to a European, it needs SWIFT code and IBAN code (International Bank Account Number). Furthermore, money transfers are possible through Western Union and Palawan Pawnshop, of which there are several branches in Boracay.
Below the SWIFT codes of resident banks in Boracay:
Allied Bank: ABCMPHMM
Metrobank: MBTCPHMM
Bank of the Philippine Islands (BPI): BOPIPHMM
Philippine National Bank (PNB): PNBMPHMM
Banco de Oro (BDO): BNORPHMM
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| Philippine Peso |
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