There are a lot of money changer that spreads in Bali. Finding the best & honest money changer is a must to do for traveler who just landed in Bali island. Many travel blog and online traveler forum discuss about this topic. But, which one is the ‘true’, neutral and trusted?
Before i explain this topic, i will inform you other related information regarding money changer & currency in Bali:
WHAT CURRENCY USED IN BALI?
INDONESIAN RUPIAH (IDR)
Bali is one of Provinces in Indonesia Republic (RI), and all the official monetary in Bali controlled & managed by Indonesian central bank which is called Bank Indonesia (BI). Indonesia currency calls Indonesian Rupiah (IDR). Thus, the legal currency used in Bali is Indonesian Rupiah.
*) Photo source: detiktribun.com
WHAT TYPE BANKNOTES USED IN BALI?
INDONESIAN BANKNOTES & COINS
List Of Indonesian Banknotes:
OLD DESIGN BANKNOTES, BUT STILL VALID:
NEW DESIGN BANKNOTES:
List Of Indonesian Coins:
*) Photo source: www.bi.go.id
Today exchange rate is USD $1 = IDR 13,500 which is mean IDR 100,000 = USD $7.41.
WHERE TO CHANGE MONEY IN BALI?
BANK, ATM & MONEY CHANGER
There are some option to change your money in Bali. One of the option is an Indonesian Bank. There are many of Indonesian Bank in Bali such as BCA, BNI, Mandiri, BRI, etc. But, their rate is not very good. Almost same like the exchange rate in the money changer in the airport. Just forget about this if you looking the best rate. The smart Backpacker will avoid this way.
The other option is ATM in Bali. You can have Indonesian Rupiah by using a credit card or debit card in an ATM in Bali. However, you need to take concern that exchange rate on each ATM varies. Also, you need to take note, by using an ATM in Bali, there is a charged by your bank for an international withdraw fee and local bank transaction cost. The smart traveler will avoid this way.
The other option is Money Changer in Bali. You can obtain Indonesian Rupiah by change your money in the money changer in Bali. There are many money changers spread in Bali mentioning as ‘authorized’ money changer or money changer with ‘no commission’. However, you still need to know most reputable, trusted and safety as the best place to change money in Bali. Therefore, by knowing the best place to change money in Bali, you will be able to avoid scaming and get a fair rate for your currency.
WHERE IS THE BEST MONEY CHANGER IN BALI?
MOST REPUTABLE, SECURE & SAFETY
There are so many money changer spread in Bali. Below are three of the biggest and experienced money changer in Bali, for sure is an authorized money changer with a better rate and offer branches on the touristic area in Bali such as Kuta, Legian, Seminyak, Sanur, Nusa Dua, Jimbaran, Canggu or Ubud:
- Central Kuta Money Exchange
- PT. Dirgahayu Valuta Prima
- PT. Bali Maspintjinra (BMC)
*) Photo source: www.balibestrate.com
Well, i don’t say i recommend these money changers, neither these are the best of money changer in Bali because i found their staff (worker) not professional and not friendly for sometime. But, you can use their rate as base when you change your money in any money changer in Bali.
HOW TO GET THE BEST EXCHANGE RATE IN BALI?
COMPARISON ON THE MOST REPUTABLE
After you know all above the biggest and experienced money changer in Bali, you still need to compare their rate to get the best exchange rate. Below the links that show their updated rate:
COMPARISON OF THE EXCHANGE RATE:
After you know the best exchange rate, you can change your money in any money changer in Bali which has the same rate above. While you doing the transaction, make sure the total number of your Indonesian Rupiah money same as the calculation, better you count the money in front of the money changer’s staff because the claim/complain after left the counter can not be considered. Counting your money in front of the staff also avoiding their scamming.
You need to know that foreign coins not accepted on all money changers in Bali, only banknotes. Also, most money changers in Bali only take clean and crisp foreign bills, a newer bill is more likely accepted. Sometime they will check the year of the money that printed. Therefore if you have a torn, wrinkled bank note, old, there is a significant change your money rejected.
Also when you change smaller banknotes such as USD $1 or USD $5, you will get lower exchange rate, and this is ‘normal’. Better bring a higher banknotes such as USD $100 to the money changer.