Which bank in the Philippines is the best choice for cash withdrawal with a foreign bank card? Here my experiences in June 2019.

After my arrival in the Philippines in June 2019, I straight went to the ATM for cash withdrawal with my foreign bank card. However, for all the ATMs I checked, I got confronted with a withdrawal limit of 10000 Pesos and a 250 Pesos fee from the local bank. This 250 Pesos fee comes on top of the fee your home bank may charge for cash withdrawal in foreign countries. Therefore, I continued to check out plenty of other ATMs from several banks but always experienced the same result.

It was a bit tricky to find updated information on the internet, therefore here my experience summarized.

In the Philippines, HSBC ATMs provide the best cash withdrawal conditions for foreign bank cards:

  • HSBC: Maximum cash withdrawal 40000 Pesos without the 250 Pesos fee
  • All other banks: Maximum cash withdrawal 10000 Pesos with an additional 250 Pesos fee

In June 2019, I went to the HSBC ATM near the Cebu Ayala Mall (southeast of the Ayala Mall). As expected, I could manage a cash withdrawal of 40000 Pesos.

Here a link to the HSBC ATM locations in the Philippines: HSBC ATM locations

Additional hint:

I further recommend to always double-check the bank statement with the actual cash withdrawal. In 2017 I failed to withdraw money at several ATMs in Cebu. However, for two failed attemps I got charged and the money was deducted from my bank account. It occasionally happens that an ATM rejects a transaction with my foreign bank card. But it was the first time I got charged for a rejected transaction. Therefore, in case of a failed cash withdrawal transaction, I highly recommend to check the bank statement a few days later. In my case, I got the money back two months after I have contacted my home bank.

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