How to Exchange Indonesian Rupiah in Manila, Philippines: A Comprehensive Guide

Traveling to Manila, Philippines and in need to exchange Indonesian rupiah? This comprehensive guide will walk you through the various options available for exchanging your currency in the bustling capital city. We will explore banks, money exchange centers, airports, and even hotels. Additionally, we will delve into specific instances of cash and card transactions, and valuable advice from the perspective of expats living in the area.

Where to Exchange Indonesian Rupiah in Manila, Philippines?

Banks

Many banks offer currency exchange services, ensuring safety, security, and authenticity. Popular options include:
- BDO (Banco De Oro)
- BPI (Bank of the Philippine Islands)
- Metrobank
It's advisable to check the exchange rates and verify that you are dealing with a reputable bank to avoid unfavorable rates or scams.

Money Exchange Centers

Look for licensed money changers, such as Czarina Foreign Exchange or Sanrys, in popular areas like Greenhills or Makati. These centers typically offer more competitive exchange rates than banks.

Airports

Ninoy Aquino International Airport (NAIA) offers currency exchange services at the airport. However, the rates may not be as favorable as those in the city due to the convenience factor.

Hotels

Some hotels provide currency exchange services. The rates at hotels can vary, so it's important to compare with other options.

Specific Scenarios

Using an ATM with MasterCard or Cirrus Logo

If your Indonesian bank card has a MasterCard or Cirrus logo, you can try withdrawing Indonesian rupiah directly from ATMs in the Philippines. Major banks like BDO offer this service, making it a convenient option for those who prefer to access cash directly.

Cash Transactions

For cash transactions, you can visit established money changer stores like Czarina or Sanrys, which are commonly found in major malls such as SM or Ayala Mall.

Expat Advice

For Indonesian expatriates living in Manila, it is often more convenient to ask local Indonesian friends for exchange services. Many Indonesian individuals find it necessary to exchange currency frequently. As an expat, you can directly deal with favorable exchange rates from reliable sources, such as XE.

Direct Deposit to an Indonesian Bank Account

If you're an Indonesian expatriate staying in Makati and wish to exchange Philippine Pesos (Phil Peso) for Indonesian Rupiah (IDR) and deposit it directly into your Indonesian bank account (BCA), you can try visiting certain restaurants that offer this service. An example is the Indonesian restaurant, Warung Indo, located at: - LPL Manor, Salcedo Village, Ground Floor, San Augustin, Makati 1227, Metro Manila, Philippines This service is often preferred by expats for its convenience and favorable exchange rates.

Conclusion

While banks can be a reliable option, exchanging currency at money changers may offer more competitive rates. Always compare rates and ensure you are dealing with reputable services. For expatriates, leveraging local networks and trusted venues can provide the best experience and favorable exchange rates.