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Best place to change money in Bali?

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  • Best place to change money in Bali?

    Hi...I have GBP that I will need to change into IDR whilst Im in Bali...previously I've used money changers..but I heard maybe the bank is a better option, safer and better rates etc? thoughts?

  • #2
    We went to Bali many times, we never change USD into IDR at the bank. Bank will refuse unperfect shape of money or they will charge 30 - 50 points each bill.We usually go to money changer. We went to MoneX money changer last time,they have pretty good rate of foreign currency. Hopefully it helps

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    • #3
      Originally posted by buddhalover View Post
      ...but I heard maybe the bank is a better option, safer and better rates etc? thoughts?
      In my city I always use GMC money changer (https://www.gmc.co.id) that is better than banks except the Indonesian bank Panin , but you need to open an account there first and it may refuse USD notes that are not brand new (http://www.panin.co.id) . In general don't waste your time checking at big international banks as they have the most expensive exchange service .
      Last edited by marcus; 07-07-18, 11:41.

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      • #4
        Originally posted by No Idea View Post
        ...Bank will refuse unperfect shape of money or they will charge 30 - 50 points each bill...
        My money changer also pay less some 30 to 50 Rupiahs per USD for imperfect note . But it also pays Rp15 more for "brand" new USD note .
        Last edited by marcus; 07-07-18, 11:43.

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        • #5
          yeah screw the bank i have paid in thousands to my US dollar account only to watch them scrutinise every single note and refuse because it has a crease or something ridiculous just go to a respectable money changer you will get a better rate and they accept all notes.

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          • #6
            Monex is pretty good. We got the best rates in Canggu and Sanur. I always bring very good bills, but had 90% rejected by Danamon in Jakarta. Legian used to be good, but are 70-100 rupiah less than Monex.

            Don't be fooled by the small shops offering 50-100 rupiah more the best rate. Usually a scam.
            Sasa Bule is having a bayi!

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            • #7
              Money changer.

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              • #8
                Originally posted by Jaime C View Post
                Don't be fooled by the small shops offering 50-100 rupiah more the best rate. Usually a scam.
                Be alert in Kuta, I know many people who somebody tried to cheat them in places around Kuta!!! As people told you money changers are better rate than banks, I never change in Banks.
                In Ubud I use a money changer located in Jalan Raya Ubud, just opposite of Neka Gallery, nice people and probably one of the best rates in Ubud I think.
                Overcoming poverty is no a gesture of charity is an act of justice the protection of a fundamental human right to dignity..

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                • #9
                  anyone ever had hundred dollar bills rejected in the bank due to the serial numbers being "unlucky" i had that i Bank Niaga

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                  • #10
                    Originally posted by ScooterIndo View Post
                    anyone ever had hundred dollar bills rejected in the bank due to the serial numbers being "unlucky" i had that i Bank Niaga
                    Never try in the Bank but the travel agency where I use to buy the tickets to travel to Europe doesn´t allow me to pay with all the serial numbers, letters!!!!!! must be an expecific ones, by the way, anyone know why this happen?
                    Overcoming poverty is no a gesture of charity is an act of justice the protection of a fundamental human right to dignity..

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                    • #11
                      Two good and reliable places to change money in Bali:

                      PT Bali Maspinjinra. They have several outlets in Bali (Ubud, Kerobokan, Kuta, Sanur, etc), Lombok and Makassar. They are willing to negociate very good rates for large amounts, close to the best one you would get in JKT.
                      I had IDR 13.150 per euro while the mid market rates euro to indonesian rupiah were around IDR 12.975 at the time I changed my currencies. Again a t the exact same moment I've changed my currencies, the counter rate at BCA was at IDR 12.929 / EUR while the one at Bank mandiri was at IDR 12.874 / EUR. All the rates given are obviously for bank notes. PT Sejaterah Valasindo Abadi and PT Bali Inter Money Changer, my favorite money changers in JKT, were only able to offer 25 rupiah more for the same amount at the same time.

                      PT Dirgahayu Valuta Prima. Several branches in Kuta, Ubud & Sanur. Same as above though slightly less interesting for large amounts. Their counter rate for normal transactions are in the same bracket as PT Bali Maspinjinra.
                      Last edited by atlantis; 28-01-13, 10:55.

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