Hi,

Heading off to Lombok and Bali for about 6 weeks this May. Have started looking at currency exchange options and the only two sources I have (Rough Guide and Lonely Planet) actually contradict each other. One saying not to bring travellers cheques and saying US $100 dollar bills are the easiest to exchange the other saying the opposite.

I'd really appreciate any up to date info on this. I'm assuming it would be cheaper to get Rupiah once I've landed rather than here (Germany\UK). I also want to avoid using ATMs as my bank usually has hidden charges.

Cheers
John

Firstly, you will get a better exchange rate in Bali than you will at home. You can change money as soon as you arrive at any of the money changers inside the airport and rate will be OK. I didn't compare their rates with those outside the airport but for the convenience it would be worth a few rupiah difference.

My choices are now credit card and cash. I haven't used travel cheques now for a number of years. Although the banks charge a fee I take money from my savings account at the maximum amount allowed to minimize fees on each transaction and pay for whatever I can on credit card. Many people charge an extra 3% for credit card payments which is something I have no problem with at all - worth the convenience.

There are exchange rate websites where you can check the rupiah against other currencies to see which is currently strongest - Oanda is one.

Travel cheques need to be protected too so they are not bulletproof as far as theft goes, although obviously a lot safer than cash.

There are many ATM machines, banks and reputable money changers. Those places offering higher than usual exchange rates are the ones to avoid - often connected to shops such as leather shops, for instance. They will charge a commission and rip you off all at the same time and are very good at it, so avoid any such places totally.

Your hotel should have safety deposit boxes which you should use and not try and hide money, passport, etc. in your room while you are out. If carrying cash on you I always have it in two places - one lot I can easily access and the rest in my clothing or buried, zipped an padlocked in a hard to reach part of my bag. You probably know all this stuff, so apologies if I'm becoming tedious and obvious.

To cash travel cheques you will also need a passport ID which I have found a bit of a pest at times. It's another document to have available and forms therefore to be filled out. I prefer the convenience of exchanging cash or cash from ATM's.

If you have mainly large notes i.e. US$100's to exchange it's also very easy to do the sum as to how much you should be getting in local currency. Become familiar with the local currency denominations and make sure you don't mix up 100.000rp note for a 10.000rp note for instance.

I could ramble on but I hope I've offered some assistance in helping you make up your mind. Remember you are on an extended holiday and enjoying it is paramount. Bank charges perhaps are not the most important thing and as you also have to pay a fee for travel cheques maybe it balances out.

All the best
Catherine

Thanks for that Catherine. Really useful. I've only just moved to Germany and should have asked about Euro exchange too. Do you know if Euro cash and travellers cheques are as easily exchanged as dollar equivalent in Bali?

John

You can find lots of money changers I would not change any in or near the airport. Like Caroline said do not exchange when they have a little booth way in the back of a little shop. the real money exchangers just change money nothing else

Also insist that your money stays in view or take a photo of the money with the serial numbers easy to read or write down the serial numbers in front of the clerk so that they don't say sorry bad bill and then give you back a REAL BAD BILL which would not be the one that you gave them.

in Kuta near the KFC there is a big exchange also near the statute at the end of Legaion drive where it forces you to turn away from the beach close to Poppies lane. Instead of turning , Walking go up 50 meters on the left past the statue, I got the best rate out of them consistantly.

In Sanur very near the night market there is a exchange that has a big picture of Geo Washington and it has the rates in box on either side of the shop outside is the place to go about 2 blocks or so from McD's on the main beach drag.

they don't like US 100's seris 2006 for some reason . you get the best rate with 50's & 100's
All big heads they will not take small heads. I never had a problem with the new 50's

All hard currencies are listed on boards either outside or in the banks and money changers. I have used only Australian Dollars and US Dollars so haven't taken a great deal of notice of other currencies listed. Euro's as a hard currency, I seem to recall, is one of those listed so I don't think there would be a problem - I'd hate to misinform you though.

Using the currency you are most familiar with is probably the best way to go. If you buy US $ in Germany I guess you need to look at what the value is against the Euro and also check to see what they both are against the rupiah and see if you lose out by buying US$'s. I bought US$'s in Australia to pay the $25US entry visa but as the AU$ and US$ were almost the same I wasn't 'losing' much. Entry Visa is perhaps best paid in US$'s so there's no messing about changing from one currency to another on entry. You can bet that the worst rate will be applied in a situation such as this.

I feel that changing money as soon as you arrive at the airport is OK. If the rate is a little under what you will get outside to me it just doesn't matter. You then have local currency to get you through and don't need to make this your first demand after arriving at your hotel. I don't think there is an honesty problem inside the airport. There are several counters in a row as soon as you go through the final luggage check and before you exit to find transport locate your driver if you've pre-arranged transfer to your hotel.

There is a problem with some US$'s as mentioned and I think it may have something to do with a counterfeit issue. Also Visa cards are ok but AMEX are not liked, this may be a bank charge issue. If anyone else knows about this perhaps they could offer advice or information.

Catherine

Below is a link to Oanda currency converter and here are the latest exchange rates listed:

1 Euro = 12.093.3 rupiah
US$1 = 9.074.41rp
1 British Pound = 13.814rp

1 Euro = 1.33268 US$

Currency Converter | OANDA

Catherine

Many thanks Chatherine \ Cheap Charley. Just the info I needed

J

Airport rate is a little lower than in town so just change enough for the taxi ride etc.

US$ in large denominations or Euro give a better rate than traveller's cheques.

For you I would just bring Euro

Reason they dont like the $100 notes is that there are a large number of fakes about .
Not only in Bali but have seen notices in Thai and Malaysian money changers , and hotels , that they will not accept these notes .