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what issues can we encounter if we use US debit/credit cards in the philippines and other asian countries? security issues? verification issues? general usage issues like will those countries take the US cards unconditionally?
Make sure your card is a Visa—and definitely not an AmEx. My bank used to issue AmEx debit cards and I made the mistake of traveling with it overseas. I could use it for the hotel, but that was about it. It was impossible to find an ATM that accepted it. Master Card is more accepted, but Visa it the most widely used.
If you’re in major cities and tourist destinations, it shouldn’t be a problem. With ATMs so widely available, travelers checks are becoming less and less common. Some places don’t even know what they are.
The US dollar is the global currency. If I’m going to a developing country I always travel with $1,000 in new (this is important) bills. I’ve been to some smaller hotels that insisted that tourists (even Europeans) pay in cash in US$.
Finally, call your bank and tell them where you’re traveling and when. If your bank’s computer system suddenly sees charges appearing in Bangkok, it may assume that your card has been stolen and put a hold on it.
Be prepared to be raped via all the fees. Some banks will waive the fees, but most do not.
Typical transaction: foreign ATM fee from your home bank - $11, plus a 1 percent foreign transaction fee. Plus, a fee charged by the bank whose ATM machine you are using. In short, you can spend $20 just to get your own money.
You can use a Fidelity atm card which will only charge you 1% fee or if there is an HSBC branch where you will be Check HSBC Bank, Philippines Branch & ATM Locations then there would be no fees if you use an HSBC atm card. If you will be in Manila or Cebu City then you would have no issues using any atm card to get cash but with fees or using credit cards at stores, most hotels and major restaurants but some do charge extra for a credit card.
Cash is king in the Philippines, so it would be hard to live day to day without cash. My wife and I live 4 months a year in Cebu and travel around the Philippines.
My advice would be to start off by bringing a bunch of new crisp $100 bills and ask around for a good money changer among others in your situation and change a few hundred at a time.
Be sure to notify your bank and credit card companies that you will be in the Philippines before you leave or they will shut down your atm card. Also have more than one bank ATM card in case you run into issues with one. You might also wish to make arrangements with friends or family to send you money should a real problem arise.
what issues can we encounter if we use US debit/credit cards in the philippines and other asian countries? security issues? verification issues? general usage issues like will those countries take the US cards unconditionally?
There's a 2-4% surcharge on all credit card purchases in foreign currency. Save yourself a lot of money and simply get a ATM card with a bank that doesn't tack on extra fees for currency exchange (be sure to ask, because the big ones like Chase and BOA tack on a fee, usually small town local banks don't). Withdraw in the local currency. ATM's are everywhere unless you're going deep into the hinterlands (where plastic would be useless anyway), and most of them don't charge a fee.
Edit:
Good lord! Don't take US dollars unless you're going to Cambodia or Vietnam where that is the default currency. Physical exchange of currency is like throwing every other dollar in the garbage! I can't believe people still do this! Just get an ATM card with STAR or PLUS (or both) network and you'll be fine.
2nd Edit:
WHERE are you people banking?! I withdrew thousands of dollars in Euros, Crowns, Baht, Rupee, NTD, Yuan, Yen, Dong (though I should've stuck with dollars), etc. etc. on a single PLUS ATM card without spending a red cent on fees. I got very close to the best internet-published exchange rates (I checked several times), and only suffered a 1% exchange fee on withdrawls. Rarely carried more than $50 USD of local currency on me at any time, and never had a problem; whether I was in a jungle outpost or downtown Kuala Lumpur.
Last edited by sponger42; 10-29-2013 at 11:52 PM..
Is it US credit card is accessible in Philippines?is it can withdraw in any banks in Philippines? If not what should be the best option to used it?
Yes you can use a U.S. Visa Credit card in the major cities of the Philippines and NO you cannot withdraw at any bank that I know of with one but you should be able to use one at some ATM machines to withdraw, yet with fees and usually with a lower exchange rate.
U.S. Visa CC work with no problems for buying items in larger areas of the Philippines in the larger places but as posted in other posts before, there will be a fee on most uses and some places will add an additional fee to what the credit card company charges you and small stores etc usually do not take credit cards at all. Capital One CC has no fee for charges, and there is a 1% fee when using a Fidelity Visa CC but since they pay you 2%, then you still make 1% by using one there.
On ATM cards, Fidelity and Charles Schwab reimburse ATM fees and in my last post I wrote there is a 1% fee, that would only be when making purchases using the ATM card, on ATM withdrawals from machines with the Visa logo there will either be no charge or it will be reimbursed by Fidelity.
Also as in previous posts, be sure to notify your banks and credit card companies before you leave the U.S. that you will be in the Philippines, most can be done when signing into your accounts online.
Cash is king in the Philippines, lots of places do not take credit cards at all, thus we use cash most places we go except supermarkets, department stores and large hotels, they do take credit cards, small pension houses and hotels will usually charge a fee for using a credit card to pay your bill with them. Large hotels will usually take AMEX but few other places will and I have not found any places in the Philippines that I have been to that take Discover but they might exist, yet it would be my advice to use only a Visa credit card and second best would be a Master Card.
using credit/debit cards in the Philippines is just like using it anywhere. you have the same concern like fraud more so for the merchant over there so they are more strict. they may ask you for 2 IDs.
the law in the Philippines is that whatever the invoice, whether you pay in credit/debit or cash, you have to pay the same. so if they added a fee because you paid in cards, tell them that is against the law. you have to pay the same just like those who pay in cash.
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