Currency & eWallets
Handle your payments faster while avoiding unfair commissions.
Avoid commisions!
Use eWallets to avoid unfair commissions from the banks!
Yes, we can use Cash, Cards or eWallets for our day a day in Coron.
Since card payment devices aren’t as widely used in Coron as in other parts of the world, we can conveniently rely on eWallets for our daily activities, including restaurants and small shopping.
Top tips
Paying Cash: Always a guarantee of payment, no matter what we plan to do, what to eat, or where to sleep, establishments will always accept cash. Cash can be withdrawn from any ATM available in Coron Town or by exchanging foreign currency.
Withdrawing cash from an ATM: ATMs charge a fixed amount (usually 200₱ to 300₱) for each withdrawal. It’s recommended to use BPI or Metrobank ATMs, as they allow withdrawals of up to 20000₱ in a single transaction, keeping the commission relatively low. Other bank ATMs only permit 10000₱ per transaction but still charge the same 200₱ – 300₱ commission, making it more expensive. So, always prioritize Metrobank or BPI when withdrawing cash from ATMs.
Currency exchange is another option to get some Philippine Peso (₱) in cash. You will always be charged an exchange commission, so it’s important to check the amount beforehand. For example, if your currency is the EUR (€), you can check online through platforms like Google or the XE App, which provide the current exchange rate between EUR and PHP, to determine the commission you’ll be paying. If you need to exchange currency at an airport office, this tip might help you decide. Look for the company where the “we sell” and “we buy” rates are closer together. For instance, if the Company 1 offers EUR/PHP with “we buy” at 60 and “we sell” at 75, while Company 2 has “we buy” at 65 and “we sell” at 70, Company 2 provides the better exchange rate, simple!
Multicurrency e-bank accounts have become increasingly popular due to their low commissions, user-friendly smartphone accessibility, and quick transfer processes. Wise is one of the most well-known options, allowing you to pay for services, activities, and restaurant bills with ease.
Local eWallets in the Philippines are incredibly efficient, often surpassing banks in convenience. Tourists, whether foreign or local, can rely on them for daily expenses. GCash and Maya are the most popular, with GCash being the top choice since almost everyone in the country has an account. To sign up for GCash, all you need is a Filipino SIM card and your Passport (or an Alien card if you’re staying longer). Your username will be your cellphone number. You can load your balance from many international banks, allowing you to make down payments or deposits in local currency even before arriving in Coron, saving money on currency transfers and avoiding hefty bank commissions.
WISE
WISE, Probably the widest eBank operating in the entire world is widely accepted in some establisments in Coron.
GCASH
GCASH is definitely the bigest eWallet in the Philippines in terms of users and transactions. It is widely accepted in Coron and Busuanga.