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Won to Pesos

 
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sab2197



Joined: 28 Apr 2015
Posts: 7

PostPosted: Mon Oct 26, 2015 12:49 am    Post subject: Won to Pesos Reply with quote

Just wondering if it is better to exchange won before traveling from Korea to the Philippines.

Also heard that you can't bring more than 10,000 pesos into the country? Is that true?
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schwa



Joined: 12 Oct 2003
Posts: 154
Location: yap

PostPosted: Mon Oct 26, 2015 6:01 am    Post subject: Reply with quote

Cash won DO NOT exchange easily or equitably anywhere outside Korea.
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sab2197



Joined: 28 Apr 2015
Posts: 7

PostPosted: Mon Oct 26, 2015 6:43 am    Post subject: Reply with quote

Thank you^^ How about buying United States Dollars before traveling and then converting them to local currency when I arrive?
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rioux



Joined: 26 Apr 2012
Posts: 672

PostPosted: Mon Oct 26, 2015 8:08 am    Post subject: Reply with quote

Advice from ttompatz, "DO NOT TAKE WON OUT OF KOREA."
http://forums.eslcafe.com/korea/viewtopic.php?t=230298
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schwa



Joined: 12 Oct 2003
Posts: 154
Location: yap

PostPosted: Mon Oct 26, 2015 10:20 am    Post subject: Reply with quote

sab2197 wrote:
Thank you^^ How about buying United States Dollars before traveling and then converting them to local currency when I arrive?

Probably sensible. Thats what I've always done.
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sab2197



Joined: 28 Apr 2015
Posts: 7

PostPosted: Tue Oct 27, 2015 2:51 am    Post subject: Reply with quote

Thanks everyone. I appreciate the feedback^^
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schwa



Joined: 12 Oct 2003
Posts: 154
Location: yap

PostPosted: Tue Oct 27, 2015 6:03 am    Post subject: Reply with quote

Re: the second part of your question, most countries have a limit of around US$10k or equivalent that you can bring in as undeclared cash or monetary instruments.

You can bring more but if so you're expected to declare it on a customs form & will likely be asked for proof that its legitimately yours. If you dont declare it & its found, all your money is subject to confiscation.

Thats pretty much all international flights, not PI specific.
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EFL Educator



Joined: 17 Jul 2013
Posts: 934
Location: Cape Town

PostPosted: Tue Oct 27, 2015 2:31 pm    Post subject: Reply with quote

Any foreign currency valued at over USD10,000 brought in the country has to be declared upon arrival..or you will regret it when searched...and customs will take everything away from you...and put YOU into a jail cell too!!! Shocked Shocked Shocked
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fpshangzhou



Joined: 13 Mar 2012
Posts: 279

PostPosted: Sun Nov 29, 2015 2:50 am    Post subject: Reply with quote

Why not just leave the money in the bank and use debit bank card to withdraw it from the atm? I would just take some spending cash and then withdraw once in country.


Cheers,
Aaron
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schwa



Joined: 12 Oct 2003
Posts: 154
Location: yap

PostPosted: Sun Nov 29, 2015 7:48 am    Post subject: Reply with quote

Debit cards, despite your local bank's assurances, often arent correctly programmed to actually work in bank machines abroad. Its a pain if you find yourself in that fix. There could also be other reasons for wanting to take your money in cash.

fpshangzhou wrote:
Why not just leave the money in the bank and use debit bank card to withdraw it from the atm? I would just take some spending cash and then withdraw once in country.


Cheers,
Aaron
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