Updated March 8, 2013:
Where can we find the best foreign exchange rates for our dollars, pounds, yens, riyals, etc?
Based on my personal experience and those of people I know and comments I’ve read at online forums, the money changers giving the best foreign exchange rates in Metro Manila are:
- Czarina Foreign Exchange (has several branches around Metro Manila)
- Sanry’s Money Exchange (has several branches in Ayala malls)
- Edzen Money Changer, 1151 Mabini St., Ermita
- Moromax Money Changer, Robinsons Ermita
- Tivoli Money Changer (Mabini, Trinoma, Eton Centris)
- SM Mall Foreign Exchange Counters
- BDO Banco de Oro
There are times Czarina gives higher exchange rates than Sanry’s; at other times, Sanry’s gives higher rates. But most of the time, their rates are higher than those of SM or BDO.
The one advantage of SM foreign exchange counters and BDO branches inside SM malls is their location. You’re protected by the mall, although you can’t be protected from sophisticated snatchers.
SM and BDO counters, however, are more strict in examining the bills. They want bills in almost perfect conditions. You also have to write the serial numbers of your foreign exchange bills on their slips.
There are other money changers or foreign exchange dealers that also give high exchange rates, but they’re only one branch, so they’re known only in their areas. I bet if you’re receiving foreign remittances monthly, you already know which money changer in your area gives the best exchange rate. My sis-in-law knows which gives the best rate in the Mabini area because she lives near there.
For big amounts of money, it is best to exchange your foreign currencies at money changers inside malls that have banks or cash deposit machines also inside these malls. You’re safer as you walk several steps from the money changer to the bank to deposit your money. Examples are:
Czarina and BPI at Alabang Town Center
Sanry’s and BPI cash deposit machines at Glorietta and Greenbelt and BDO at nearby SM
Moromax and Robinsons Bank at Robinsons Ermita
Moromax and Robinsons Bank at Robinsons Metro East
Sanry’s and Robinsons Bank at Robinsons Galleria
Several branches of Czarina and Sanry’s locations are listed below.
I have NOT seen all the following locations, so please call first if they’re still there or if they’ve moved:
Czarina Hotline: (+632) 811-1875 / (+632) 811-1895 / (+632) 811-1859
Sanry’s Guadalupe branch hotline: (+632) 8121956
Guadalupe branch was Sanry’s first branch
Western Union hotline: (+632) 888-1200
Both Czarina and Sanry’s are Western Union agents.
Here are the branches of Czarina Foreign Exchange:
- 3-027, Glorietta 5 Ayala Center
- 14th Floor, Unit 1412 Tower One & Exchange Plaza, Ayala Triangle, Ayala Avenue corner Paseo de Roxas
- G-7 Prince Plaza II, Dela Rosa Street, Legaspi Village
- Makati Cinema Square, Pasong Tamo
- Unit 103, Ground Floor, Liberty Center Building 104 H.V. Dela Costa Street Salcedo Village
- Ground Floor, Easton Place, Valero Street, Salcedo Village
- Alabang Town Center (ATC), Madrigal Avenue
- Cinema Complex, Alabang Town Center (ATC)
- Ground Floor, New Farmer’s Plaza, Gen. Roxas St., Araneta Center, Cubao
- Ground Floor, Philam Bldg., Araneta Blvd. cor. Araneta Avenue, Cubao
- Lower Ground Floor, Ali Mall, Araneta Center, Cubao
- Lower Ground Floor, Ever-Gotesco Mall, Commonwealth Avenue (2 branches here)
Q. Plaza Commercial Complex, Felix Avenue cor. Marcos Highway
CB-06 Plaza Annex Extension, Shoppesville, Greenhills
Here are some of the branches of Sanry’s Money Exchange:
Park Square Drive, Ground Floor, Edsa Mall
Glorietta 1, Ayala Center
Ayala Center, Goldcrest Glorietta II
2nd Floor, Market Market
Market Avenue Corner Mcarthur Avenue,
Bonifacio Global City
South Superhighway near corner Buendia or Gil Puyat
Makro Makati Store 14
Cash and Carry
Filmore Street, South Super Highway
Unit GO2B Cash and Carry
Guadalupe Commercial Complex
Edsa Avenue, Abc-Mf 17-1 GCM
Robinson’s Galleria Ortigas/Edsa
- Level 1 Galleria Corporate Center (+632) 6327922
- Level 1 Robinsons Galleria
Greenhills, Ortigas Avenue San Juan
Unimart Inc., Greenhills Shopping Center
GH2-U2 2/F Beauty Central, Lifestyle Bldg.
Greenlanes 168, Greenhills Shopping Center Bldg.
Near KFC Inside Greenhills Shopping Center
Virra Mall Bridgeway 2/F, Greenhills Lifestyle Bldg.
Near Theater Mall
At online forums I have visited, these are the money changers they have recommended:
Edzen Money Changer
1151 Mabini Street
– near the corner of Mabini and Salas Street, walking distance from the Robinsons Mall area
– be prepared to wait, as usually the line is long
Moromax Money Changer
Level 1, Robinsons Place, Ermita, Manila
– the same rate for smaller bills
Tivoli Money Changer
– Level 2 Eton Centris Station, Quezon Avenue, QC
– 1517 Mabini St., Ermita
– Trinoma QC
Naila’s Money Changer
1741 Mabini St., Malate
– they answer inquiries online via chat at nailasmoneychanger.com
– for buyers of foreign currencies, usually they have these available; call in advance for faster service