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Where should I exchange money?

Where should I exchange money?

Short Answer: Wait until Monday orientation to exchange money at a trusted shop near JY Square. Avoid airport exchanges and always check the exchange rate before making any transaction.


✈️ Should I Exchange Money at the Airport?

Technically, yes—you can exchange money at the airport in Cebu. But we don’t recommend it, and here’s why:

  • Airport rates are significantly lower than rates in the city

  • You may experience long lines or slow service, especially at night

  • Some airport counters don’t show full fee breakdowns

  • It’s not necessary—3D ACADEMY provides free airport pickup directly to the dormitory

Unless you urgently need a few pesos (for snacks or a SIM card), it’s better to wait until you reach the school. You’ll be safe, taken care of, and surrounded by helpful staff.


What Happens After I Arrive at 3D ACADEMY?

Once you arrive at the school, you’ll check in to your dormitory, meet the staff, and begin your official orientation on Monday morning. This orientation includes:

  • An overview of local fees (SSP, textbooks, electricity, etc.)

  • A walking tour of the neighborhood (JY Square area)

  • A visit to a trusted, high-rate money changer nearby

  • Explanations about how to manage cash, use ATMs, and stay safe

This timing is ideal for your first money exchange.


Where Is the Best Place to Exchange Money?

3D ACADEMY is located just a short walk from JY Square Mall, which has several reputable local money changers. During orientation, we’ll bring students in small groups to a recommended shop that offers:

  • Better rates than the airport, tourist areas, or large malls

  • No hidden fees

  • Professional service with receipts

  • Located in a safe, public area

Some shops update their rates daily based on the market, and they often offer better deals for larger bills (e.g., USD 100 instead of 20s).

Our staff regularly checks the latest rates and can guide you to the best option on the day.


What About Money Changers in Shopping Malls?

Large shopping malls like Ayala or SM City Cebu also have currency exchange counters. While they’re convenient, many students find that:

  • The rates are lower than local shops

  • Some counters target tourists with unfavorable deals

  • There may be limits on the amount you can exchange

Always check the displayed rate, and don’t hesitate to compare with other places nearby.


⚠️ Be Careful: Red Flags to Watch For

When exchanging money in Cebu, remember:

  • ❌ Don’t exchange if the rate is not clearly shown

  • ❌ Don’t let anyone pressure you to exchange quickly

  • ❌ Avoid places that look suspicious or too empty

  • Count your money in front of the counter before leaving

  • ✅ Always ask for a receipt, even if you’re exchanging a small amount


Can I Use ATMs in the Philippines?

Yes, many ATMs (cash machines) in Cebu accept international cards (Visa, MasterCard, UnionPay, etc.). However, there are a few things to keep in mind:

✅ Pros:

  • Convenient for withdrawing pesos directly

  • Safe when using machines in malls or banks

  • Useful if you don’t want to carry large amounts of cash

⚠️ Cons:

  • Most ATMs charge PHP 250–300 per withdrawal (~$4–5 USD)

  • Daily withdrawal limit is often PHP 10,000–20,000

  • Some international cards may not work at first unless pre-authorized

  • Machines may run out of cash on weekends or payday

Tip: Use ATMs inside Ayala Mall, SM City Cebu, or major banks like BPI or BDO for the safest experience.


Can I Open a Local Bank Account?

For long-term students (over 12 weeks), it may be possible to open a Philippine bank account, especially at BDO or Metrobank. However, it requires:

  • An ACR I-Card (Alien Certificate of Registration)

  • Passport and school ID

  • A letter of enrollment (can be issued by 3D ACADEMY)

  • Processing time: 1–2 weeks

Most students find that ATM access or remittance services (Wise, Western Union, etc.) are more convenient for short stays.


How Much Should I Exchange at First?

During your first exchange, we recommend changing at least PHP 10,000–20,000 (~$180–$360 USD), depending on your situation.

This should cover:

  • Required local fees (SSP, deposit, etc.)

  • Personal expenses for 1–2 weeks

  • SIM card and shopping

  • Meals outside the dormitory

  • Optional weekend tours

You don’t need to exchange your entire budget at once—just enough for the beginning. You can always exchange more later.


What Currencies Are Accepted?

The most commonly accepted currencies are:

  • US Dollars (USD)

  • Japanese Yen (JPY)

  • South Korean Won (KRW)

  • Euros (EUR)

  • New Taiwan Dollar (TWD) (at select shops)

To get the best rates:

  • Bring clean, undamaged bills

  • Prefer larger denominations (USD 100 > USD 20)

  • Avoid coins or very old bills


Safety Tips for Carrying and Storing Cash

  • ✅ Use a money belt or pouch for daily use

  • ✅ Keep large amounts in your dorm locker or suitcase

  • ✅ Don’t flash cash in public

  • ✅ Split money across multiple hiding spots

  • ✅ Exchange only at recommended locations

3D ACADEMY provides secure dormitories, and staff are always available to assist with any concerns.


Real Student Advice

“I waited until Monday and exchanged money at JY Square. Much better rate than the airport.”
Mika, Japan

“I used my Japanese ATM card at Ayala Mall, but there was a PHP 250 fee each time. Now I withdraw only once a week.”
Takashi, Japan

“A local shop near school gave the best rates. Just make sure to check the rate board before you exchange.”
Jin, Korea


✅ Final Tips & Summary

✅ Best Time to Exchange Monday orientation (guided by staff)
Avoid Airport exchanges (low rates, long wait)
Best Currency Clean USD, JPY, or KRW bills
ATM Tips Use inside malls; expect PHP 250 fee
Always Check rates & get a receipt

Need Help?

If you’re unsure about anything—how much to exchange, where to go, or how to use your card—don’t worry. Our friendly, multilingual staff are here to guide you step by step.

At 3D ACADEMY, we want you to feel safe, informed, and financially prepared from day one.


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