Hi
I like to take a wad of cash so that I can say thats what I`ve got to spend and budget accordingly. I use my credit cards as a backup. It also brings you into reality, handing over cash, that I find easier to keep a control on my spending. I hate having to pay c/c bills after the event.
Some people may not be comfortable carrying around cash though, its a personal choice. Never known of any restriction in the amount allowed. Dont worry about dollars, pounds are fine. My wife has always told me that the money changers like clean notes with no scribbles on them, never put it to the test so I`m not sure on that.
Fifty pound notes are fine, if your going to Angeles the best money changer is the owner of a clothes shop in Nepo.
ps:try to get say a thousand or so pesos to travel with, for getting through the airport.If you know any pinoys locally they should be able to help.
cheers
Peter