Hi guys,
Going to Bali at the start of the new year and would like to pick some of your brains for any tips/best places to exchange some AUD to IDR (here or there). I've read it is a good idea to carry some cash on you as some places do not accept card, etc. I will be using my travel card as means of payments around restaurants/hotel.
Thanks in advance. :)
+1, if you have enough time to get either the ING Orange Everyday or Citibank Plus Everyday you can just withdraw your $$ from an ATM over there with good rates and no fees.
Yep just use an ATM. They are everywhere and will give you a better rate, particularly if you have an ING or Citibank account.
You get the best rates there.
However your chances of getting ripped off is better too.
There are some simple rules to follow so you don't get ripped off.
1. The better the rate, the better your chance of getting ripped off.
2. The professional-looking places (well lit, proper counters with barriers, etc) have been good (no scams), although the rates aren't the best.
3. With the roadside exchangers, always be the absolute last person to touch AND count the money. They will count out the money in front of you, and hand it over. RECOUNT the money and pocket it. If you do hand it back for any reason, RECOUNT it again. Repeat each time you hand the money back. These guys are VERY good at what they do, you can't catch them taking a large cut of your money when handing it over. They might try to be helpful and say they'll put it in a bag for you, or any myriad of innocent reasons.
4. Again, with roadside exchangers, do not give them your money until you are allowed to pocket yours. This allows you to leave if they're trying to scam you. Can't leave if they're holding your money.
Alternatively don't deal with roadside exchangers if you don't want to deal with this hassle. You will still get a better rate there dealing with the professionals, without getting scammed.
Just to add to the roadside exchanges, stick with exchanges that have the words "No Comission" on their boards out front. While you will see boards with a higher amount on it, they are likely to take off a comission
we changed some at the airport and the rates are better than what we get here.
There's a legit money changer outside our hotel with better rates than the airport so we go there every couple of days when we need more spending money and try and pay by 28deg wherever we could.
Any idea which area or hotel you'll be staying? hopefully someone stayed there can tell you where to find a legit money changer.
We're in Seminyak :) I should have mentioned that in the op…my apologies!
I want to say thanks to all for the feedback thus far, I really appreciate it!
Cash is king in Bali. I recently came back from a trip there, everywhere accepts cash and it's the most common form of payment.
Most people take cash there and exchange as needed, maybe $100 a day. Exchange rate is far better over there than here. Go to likes of BMC, the dodgy money changers always offer a higher rate then try and slip money out. Generally the good money changers will make you sign for a receipt too
Hey mate, cheers for the response!
Do you have any hot tips for exchanges in or around Seminyak? I think I was going to bring about $1k AUD cash with me and exchange it as I saw fit. We're only there for a week but look forward to paying for some premium things :)
No worries!
Honestly, I didn’t stay in Seminyak so I never had to exchange there. BMC’s current rate is 10170 to the dollar, so anything around that. Anything offering 10200 or above is questionable.
Also, have you joined this page on Facebook? Has a community of over 200,000 people and they’re very helpful when travelling to Bali
If you have a card like ING, just withdraw from an ATM there. Exchange rates are very good