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Exchanging USD with marks on it

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milford7355
  10/22/2022 08:28 EST

I just arrived in the Philippines and went to exchange some $100 USD bills for pesos. The money changer handed me back a couple of the bills and said they could not exchange them because they had some marks on them? I took all the bills back and said I did not want to change any of them then.

Is this standard?

I brought a bit of cash with me and did not check to make sure that I brought perfect bills. Five or six of the bills have been written on by someone, or stamped with some kind of markings.

Is this cash useless over here in the Philippines?

I have never seen this problem posted on here before. Something people coming with cash with them to make sure they get clean bills before they come I guess.

quinoajones
  10/22/2022 10:26 EST

Yes, I have seen that. Or they offer you less for them. They have requirements for who they trade the USD with.

I brought a bunch of $20's one time thinking that was better. But they offered me less than the posted rate for the $20's, saying that rate was only for $50's and $100's. I guess that is another requirement.

I used to bring all cash. Now I'll bring some emergency or landing $, but I will just pay the remittance fee one or twice a week for regular spending.

Ask around. I'm sure you can find someone who will take them.

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IDAHO1
  10/22/2022 22:46 EST

The marks issue is true all over the country. Before I leave the US I go to my
bank several weeks before departure and ask them to get me a certain number
of very clean 100's. Within a day or a few, I have them.

For "landing money" when I leave the Phils, I bring along about P10,000 in notes no larger than P1,000 and use them the next time I go back for things like food courts, taxis, small emergency stuff I was dumb enough to forget, etc.
This may not work for everyone, but it works for me.

303croissant
  10/22/2022 22:57 EST

On US currency………. Why would you bring that..?? Headaches to exchange if not in PERFECT condition, too much of a hassle. Ladies and germs… use your head. Make your life easy. Go to your bank at home before coming here, get the local currency. It takes 3 or 4 days to get. Get rid of your home country currency before getting on a plane. Use your credit cards till you arrive. Arrive, use the local currency, get more cash at ATM’s. It’s not difficult……

ebxebx
  10/22/2022 23:29 EST

Very common in SE Asia. In Vietnam, any bill with the slightest tear is unacceptable and must be exchanged at a bank. Different redemption values for different size bills commonplace too.

trappedinhell
  10/23/2022 02:15 EST

Yes, most of the money changers here won't accept that kind. Even dollar bills that are crumpled or have a tear on the bill. You could try changing it at a local bank, since that is what I did when I opened a bank account.

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Farsider
  10/23/2022 08:23 EST

Yes, I learned that lesson about 12 years ago. I make sure when I travel from the US to any other country, that I have crisp, clean, & new if possible, $50’s & $100’s. I have found a few street exchanges that will take $20’s, but they prefer larger bills.
Also, if you go to the same street changers and they get to know you a little bit, sometimes they will cut you some slack if the bill you hand them is not perfect.
The situation seems worse in Thailand - $50’s & 100’s only, and they better look like they came right off the press - that’s my experience anyway.
Hang onto those imperfect bills you have and you might find a changer who you begin to use frequently who will take those bills eventually.. Street moneychangers hands are tied so-to-speak by the rules they must follow - they pay heavy price if they screw up.

surfingcebu
  10/23/2022 13:22 EST

Milford - your a long way from home . Using counterfeit bills in the USA is common -many in circulation . Other countries are aware of this .... Marked bills may get rejected by their bank at some level . Very common in most parts of the world , actually . I had one 100 USD bill reject in Belize 6 months ago . Even a slight rip my disqualify the note . Never except ripped bills or marked bills as change - local or foreign . The USD is one of the world, most counterfieted notes in the world- especially over the last two years . You also will have to show ID if you use USD to change into other currency too ! money washing is a huge problem in the USA as well as in other parts of the world .

just try different exchangers , one will eventually take them ....with 2 ID's from you . I always try and use the same money exchanger . Get a good relationship with them . Its apart of the culture .

Be safe ,

Surf .

milford7355
  10/23/2022 15:17 EST

I understand NOW. I am not posting this to show how stupid I am. Uninformed is a better word. I posted this to help inform other people that are coming here so that they know this in the future.

I got all of my cash from a US Bank, so I am pretty much assured that it is not counterfeit,

It is not a big deal for me. I will just hold on to the defective bills and take them back to the US with me when I return. I would like to exchange them if I could, but I certainly won't lose any sleep over it.

gtaylor1959inVA
  10/24/2022 20:39 EST

Just got back from Sorsogon where wife's family is. Exchanged $20.00's at Manila as soon as I landed. The rate was 58.8 and went up while I was there. Had one $20.00 bill had writing on it and they wouldn't take it. Even when I was in Sorsogon City they wouldn't take it at half - so I kept it unitl I got back to LA and got a burger with it... (HA)... I also forgot about the humidity which was 1000% !!!! Ugh.....

bbazor
  10/25/2022 04:31 EST

They are very picky with currencies here. I had a P1000 bill that looked like someone took a small bite out of it in one corner. Other than that, it was in new shape. I tried to use it at two different places. Neither would take it. Luckily, I took it back to my bank and they exchanged it with no questions asked. A couple of months ago, someone tried to use a P1000 bill (I think at a mall in Manila) and they would not take it because it was folded. The person posted it on FB, it went viral, and the government said that the establishment should have taken it. Ridiculous. IBTW, that was a national news story. f it is a money changer, I can't blame them, because they might have a problem at the bank if it is a $100 bill.

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surfingcebu
  10/25/2022 19:36 EST

Milford - over time this may work for you , as it has worked for me . Its very common in SE Asia .... What I do is give a slight marked bill to my buddies in exchange for their unmarked bills . Pinoys have less of a change getting rejected with a slight mark , especially if they are PNP, Mayors son, or the like , etc .... :)

Never accept marked bills. I try and inspect each one -90% of the time . sometime you do get one or two that are marked . They can/may get rejected easily .....so save yourself the headache !

Safe travels friend !

SURF .

surfingcebu
  10/25/2022 19:40 EST

Gosh Milford - there is no stupid question here - never . I learned this as a kid many many years ago growing up in the RP as a foreigner ...the same way your learning this now as a new expat . you're learning ....which is a great thing and plenty of support here to help you in the forum !


Rest easy friend , enjoy the moment and life !

SURF

milford7355
  10/26/2022 18:41 EST

Thanks Surf for your kind remarks.

I week here so far. Loving everything but the humidity. Moving forward with my eyes and ears and mind wide open.

Please PM if you have time regarding your Aerox 155

Milford

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