ATM Machines, Credit Cards, money exchange in Coron
In Coron as well as in the rest of Palawan, - except the provincial Capital Puerto Princesa - it can become a big problem for if you have only credit cards, travellers cheques or foreign currencies. Paying by credit card is no problem in Manila, but in Coron and most other parts of the Philippines it is either impossible to use them or it will cost you between 6% and 20% surcharge.
At KokosNuss Resort you can exchange or pay by US$ Dollars, Euro and US$ travelers cheques, but the exchange rate is lower than in Manila. Credit card handling is always difficult in an area, where such things as telephones sometimes dont work and bank service is kept to a very minimum. There are three banks in Coron - the branch of the Landbank of the Philippines can only exchange US$ for you but doesnt offer any international ATM service or credit card encashments. The Allied Bank offers an ATM service for international credit cards. Bank of the Philippine Islands, BPI offers an ATM service for international credit cards as well.
In Manila you get the best exchange rates. Some money changers also accept travelers cheques. If somebody approaches you on the street and offers you the best exchange rates, please do not trust him. A trusted money changer is for example the "GOOD RATE" or "EDZEN" in Mabini Street, Ermita. The safest way is still to change at your hotel in Manila, in a bank or at the international Airport.
The official exchange rates of the Philippines can be obtained from the website of the Philippine Central Bank