There are many payment options available to you. As with most places, cash is still King but the various payment options especially plastic and digital payments are catching on fast in Davao City
The complete range of Payment Options are
- Debit cards
- Credit cards
- Electronic bank transfers
- Mobile payments
The highest note available is the 1000 Peso Note roughly equivalent to 20 US Dollars, Most of the smaller shops will struggle to make change for a small purchase if you give them a high-value note such as the 1000 or 500
You should try to carry a range of currency including coins and take every opportunity to breakdown down the larger notes. Carrying coins is useful as the cashier will often ask for coins.
Cheques are mainly payment options for businesses. They are accepted but normally for goods that are not immediately available to take away. For example for putting down a deposit.
However, a certified managers cheque is accepted and treated as cash in most cases and used for high-value transactions such as a house or car payment.
If you are renting a house post-dated cheques are normally requested but often that can be negotiated around especially if it is a foreigner renting
It should be noted that it is a serious offence to issue a cheque without enough funds in the account to cover it
The use of Debit cards is becoming more and more the normal way to pay but it should be noted that the payment may be refused with a card presented that was issued outside of the Philippines.
Sometimes you are asked for additional ID but that is getting less oftern
With Credit cards you are often asked for 2 forms of ID as the PIN Number system for Credit Cards is still not widespread. Once again if you are using non Philippines issued Credit cards then payment will often not be possible in shops
Using a local Credit card will help to build up your credit score here and slowly your limit will be increased. Also, there are often promotions where you can spread the cost of a purchase without increased credit rates
Electronic bank transfers
Paying by Card for a reservation in a resort or restaurant is not yet possible. Instead, you are asked to make a bank to bank transfer. Most of the major banks have an online system to make payment up to 10,000 per day
Defently the up and coming way to pay
The big 3 are
- Grab Pay
Using your smartphone and a preloaded App there are many establishments you can now pay using this method
Let’s use Gcash as an example
Here are more details about GCash which is the most versatile payment App in Davao
- Open your App Store or Google Play Store then download the GCash App
- You will be asked to enter your mobile number
- Wait for the six-digit authentication code that will be sent to your number
- Enter the code then press Submit
- Fill in the required information: Name, address, birth date, etc
- Create your own Mobile Personal Identification Number (MPIN).
Despite all the various payment methods it is a good idea to keep some cash hidden away. It is always a good idea to have a backup system as we never know when the outside factors can crash the system
No matter how you pay it is vitally important that you obtain and retain a receipt. Even if you have bought a item within one hour and take it back for an attempted refund or replacement you will not be entertained without a legable receipt
If your not a “filing” sort of person when you arrive in Davao it will be a good idea to start
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