Money & Credit Facilities

Naga City is the financial center of the region. It has a total of 41 commercial domestic and international banks and several savings and loan institutions. Banking hours begin at 9 a.m. until 3 p.m., Monday thru Friday.

Philippine Peso is the currency unit primarily used in business transactions. Bank notes come in denominations of P10, P20, P50, P100, P200, P500, and P1,000. Coins come in 5c, 10c, 25c, P1 and P5.

Foreign currencies such as the US Dollar, Canadian Dollar, Australian Dollar, Singapore Dollar, Hongkong Dollar, Brunei Dollar, Sterling Pound, Japanese Yen, Thailand Baht, Saudi Rial and the Euro may be converted through banks, money changers, and other financial centers in the city. Exchange rate depends on the rate for the day. These are found in local newspapers or are posted in bank bulletins.

Visa, Mastercard, Cirrus and other major credit cards are widely accepted.