The Philippine peso (PHP, written ₱) is the currency used for everyday spending across the islands. Travellers pay in pesos for food, transport and small purchases, usually drawing cash from ATMs or exchange counters.
This guide covers the banknotes in circulation, the cash limits at the border, and how cards and ATMs fit into a trip. It sits within the wider Philippines travel tips hub, which covers planning for first-time island visitors.
How the Philippine peso works for visitors
Prices on the islands are quoted in pesos, and local businesses expect to be paid in pesos. Foreign banknotes are not a substitute for local money away from airports and large hotels, so most visitors convert some money early and top up as they go. A short stop at an exchange counter or an ATM on arrival covers the first ride and a meal.
The money is issued by the Bangko Sentral ng Pilipinas (BSP), the country’s central bank. Its rules shape what a traveller can carry across the border, and its note designs decide what the cash in a wallet looks like. Both topics are covered below, because they are the parts of Philippine money that change over time and catch visitors off guard.
Money matters most on a province-focused trip such as Bohol, where a day can mix a town market, a roadside snack, a tricycle ride and a boat landing fee. The amounts are small, which makes the shape of the cash in the wallet more important than the total.
Paper and polymer banknotes
Philippine banknotes are changing material. The BSP has been moving its higher denominations from paper to polymer, a plastic film that lasts longer and wipes clean. According to a Daily Tribune report of 20 December 2024, the P1,000 polymer banknote was introduced to the public in April 2022, and the P500, P100 and P50 polymer banknotes were expected to circulate with the paper notes of the same denominations beginning in January 2025.
For a traveller, the practical result is that two kinds of note of the same value can sit side by side in a change purse. The same report says the polymer banknotes match the size and color of their paper equivalents, so a polymer note and its paper twin are the same shade and a similar size. Both are accepted as money, so there is no reason to refuse either one when it comes back as change.
Each polymer note carries native wildlife and plants, which makes the series a small lesson in Philippine biodiversity. The table lists what the report describes on each note.
| Denomination | Animal and plant on the polymer note |
|---|---|
| P1,000 | Philippine eagle and Sampaguita flower |
| P500 | Visayan spotted deer and Acanthephippium mantinianum |
| P100 | Palawan peacock-pheasant and Ceratocentron fesselii |
| P50 | Visayan leopard cat and Vidal’s lanutan |
Design details in the table come from the Daily Tribune’s polymer banknote report.
Two of the animals carry “Visayan” in their names, a nod to the Visayas, the island region that includes Bohol. A visitor who enjoys finding wildlife on banknotes may also want to read about the Philippine tarsier, a small primate native to the Philippines.
Polymer notes can be folded and kept in a wallet, according to the same report, which quotes the Philippine president saying that folded polymer notes will still be accepted. Wiping a dirty note with a damp cloth is also described as harmless to the note.
Bringing cash into and out of the Philippines
The BSP limits how much Philippine currency a traveller can carry across the border. Its foreign exchange FAQ, hosted by the Philippine Embassy in Tokyo, says a person may freely bring into or take out of the Philippines legal tender Philippine currency in amounts up to PHP50,000. Amounts above that need prior written authorization from the BSP and a declaration of the whole amount on the Currencies Declaration Form.
The same FAQ explains how the limit works for groups. For family declaration, the total threshold is PHP50,000 multiplied by the number of family members leaving or arriving in the Philippines, as stated in the BSP’s published answer. The limit therefore applies to each person, not to the household as a single traveller.
Foreign money follows a different threshold. The BSP says a person may freely bring in or take out foreign currency and other bearer monetary instruments such as traveler’s checks in amounts up to USD10,000 or the equivalent in another currency. For amounts above that figure, the whole amount must be declared on the Currencies Declaration Form, according to the same BSP FAQ. A child travelling with a parent or guardian has the same USD10,000 allowance without written declaration, as the FAQ states.
The form is available in the customs area of international ports, and it can also be filled in online. The BSP FAQ says the declaration can be submitted through the eTravel Customs System or the eGovPH app within 72 hours before arrival or departure; the eTravel site describes the service as free. The FAQ also says that unauthorized transfer of local currency beyond the limit may be subject to appropriate action by the Bureau of Customs, so large peso amounts are better left at home and bought in the country as needed.
ATMs, cards and mobile payments
ATMs are the simplest way to get pesos after landing. Machines in airports, malls and bank branches dispense local currency directly from a home account, and the traveller’s own bank sets the exchange rate and any charges. Both the foreign bank and the local machine operator may add fees, and the amounts differ by bank, so the useful habit is to ask the home bank about them before the trip and to withdraw larger sums less often than small ones.
Cards work best in the places that already deal with visitors: international chain hotels, large restaurants, malls and tour offices in the main towns. Smaller businesses may accept only cash, and a card machine can fail without a working signal, so a reserve of banknotes is part of any day out. Cash is also what pays for jeepney fares, tricycle rides, market stalls and roadside snacks.
Withdrawal limits vary by machine and by bank, and an ATM will sometimes run low on notes on busy weekends or before a long holiday. Using a machine inside a bank branch or a large mall is safer than a standalone unit at night, because a problem such as a card retained by the machine can be resolved with staff nearby. A card should be covered when keying a PIN, and a receipt is worth keeping until the statement arrives.
A foreign card and a stock of local cash are the dependable pair for a visitor, and each covers the gaps of the other.
Changing money and keeping small notes
Exchange counters in airports are convenient, and counters in city centres usually show a board of rates. Comparing the buy and sell rates on the board with a recent mid-market rate shows how large the spread is. Rates change daily, so no figure in a guide stays accurate. Counters that look licensed, display their rates and issue a printed receipt are the safest choice, and any offer from a person on the street should be declined.
Counting notes at the counter, before leaving the window, avoids disputes. Large notes can be hard to break in small shops and on tricycles, so asking the exchange counter to include smaller denominations, and breaking large notes at a supermarket or a convenience store, keeps the wallet useful all day.
Checking every note received as change against the colour and size of its denomination is a good habit, and it takes only a moment at a busy till.
Cash habits around fiestas and day trips
Money is rarely a problem on a quiet beach day, but it can be on a busy festival date, when queues at ATMs are longer and small notes run short. Anyone planning a trip around a Philippine fiesta should withdraw cash a day earlier, carry smaller denominations for food stalls and donations, and avoid flashing a full wallet in crowds.
The same approach suits rural day trips. Roadside viewpoints, small museums, boat landings and local guides tend to take cash only, and the nearest ATM may be a long ride away. Keeping the money in more than one place, such as a zipped pocket plus a small bag, limits the damage from a single loss.
Cash should be kept in a waterproof pouch when island hopping or boat trips are planned, because paper notes are the ones damaged by spray. Polymer notes cope better with a splash, but the receipts, ID and phone beside them do not, so the pouch protects the whole bundle.
Frequently asked questions
What is the currency of the Philippines?
The currency is the Philippine peso, issued by the Bangko Sentral ng Pilipinas. It is written PHP in banking and ₱ on price tags.
How much Philippine cash can a traveller carry out of the country?
The BSP’s published rule allows up to PHP50,000 per person without prior written authorization, as stated in the BSP’s foreign exchange FAQ. Larger amounts need written authorization and a declaration.
Do travellers have to declare foreign currency?
Foreign currency up to USD10,000 or the equivalent can be carried freely, and only larger amounts must be declared, according to the same FAQ.
Are polymer banknotes legal tender alongside paper ones?
Yes. The Daily Tribune report says the polymer P500, P100 and P50 notes were expected to circulate with paper notes of the same denominations from January 2025, so both kinds appear in change.
Is a credit card enough for a trip to Bohol?
A card covers hotels and larger restaurants, but smaller businesses, tricycles and markets rely on cash, so a mix of both is the dependable approach.
