Announcement

Collapse
No announcement yet.

Currency Question - Bali

Collapse
X
  • Filter
  • Time
  • Show
Clear All
new posts

  • Currency Question - Bali

    Upon arrival in Indonesia at DPS:
    When I visit bank or moneychanger to convert $1600 USD cash to rupiah, approximately what number of notes will I receive in each denomination? (This will be my first experience.) I would like to have an idea of what that much money will be so I can recount it correctly. (My debit card would only allow $300 per day) :>{

    Also, for $1600 USD, approximately how much would I pay in commission at the airport (DPS) vs a reputable moneychanger in Sanur? If it's not too much, I would like to just purchase at airport and not be concerned with getting scammed. - Any tips will be appreciated.

  • #2
    My advice would be to only change a $100 at the airport , just for immediate expenses that should be around 14 100k notes red in color , when you are relaxed pop in to a local bank and change what you need , money changers are not always honest .

    Comment


    • #3
      Originally posted by cochise1 View Post
      (1) ... When I visit bank or money changer to convert $1600 USD cash to rupiah, approximately what number of notes will I receive in each denomination? ...

      (2) (My debit card would only allow $300 per day)

      (3) Also, for $1600 USD, approximately how much would I pay in commission at the airport .. vs a reputable money changer in Sanur?

      (4) If it's not too much, I would like to just purchase at airport and not be concerned with getting scammed ...

      (1) From my experience , you will probably get Rp50'000 and/or Rp100'000 notes . Just now , rates at Panin Bank (maybe the best one can get) are Rp14'395/14'430 , so USD1'600 ~= IDR23'032'000 which would result in 230 notes of Rp100'000 or 460 notes of Rp50'000 (you can tell the teller that you would like Rp100'000 notes if available) .

      (2) If you use a Visa/Plus or MasterCard/Cirrus debit card in ATMs , you will get mostly Rp50'000 notes at a maximum per withdrawal operation of Rp1'250'000 (around USD86) , so search for ATMs that state having Rp100'000 notes .

      (3) I think that in Indonesia usually there is no fixed fee , unless for damaged/dirt USD notes . The difference are in the rates themselves . At the airport probably you will get less for you money , compared with a good money changer .

      (4) I don't know Bali , but in Jakarta and Bandung (West Java) you can find very professional money changers . You can also go to downtown banks for that (unfortunately you will have to open an account to exchange USD at Panin Bank , and the bank can refuse notes that are not brand new) .


      http://www.livinginindonesiaforum.or...846#post309846 (post no.11 , money changers in Bali)
      http://www.panin.co.id (exchange rates)
      http://vip.co.id (money changer , Jakarta)
      https://www.gmc.co.id/ (money changer , Bandung)

      http://www.dolarindo.com/
      Last edited by marcus; 2 weeks ago.

      Comment


      • #4
        Is it acceptable to ask my taxi driver to wait outside moneychanger on the way to or from the DPS airport?

        Comment


        • #5
          The money changers are inside the airport before you meet the taxis.

          Comment


          • #6
            Originally posted by tel522 View Post
            The money changers are inside the airport before you meet the taxis.
            I think he/she refers to a downtown money changer .

            Comment


            • #7
              Originally posted by marcus View Post

              I think he/she refers to a downtown money changer .
              The problem Marcus , bali unfortunately has a bad rep for money changers , as he is new to the island I think it would be unwise to go searching around when he has just arrived here .

              The airport money changers have a good reputation , as far as im aware , thats why I suggested for him to do the bulk of his exchange at the bank when relaxed , also the rate will be better .

              Over the years a number of people have lost money at the less honest exchanges .

              Comment


              • #8
                Originally posted by cochise1 View Post
                Is it acceptable to ask my taxi driver to wait outside moneychanger on the way to or from the DPS airport?

                I think this depend on each driver's thinking . If the driver refuses you could pay first and ask the driver to wait you for another trip .

                Depending on the money changer , it may be a long wait . In my preferred money changer , I already spent 1 hour there .

                Comment


                • #9
                  I very much appreciate all the input. Since this is my initial trip to Bali and due to the fact I am spending only a partial day and one night in Sanur before catching a connection to an outer island I'll be limited on time. It probably would be best if I used the airport money changers. Thank you for your suggestions.

                  Comment


                  • #10
                    It is a pity to have to deal with the airport banks . In general the difference is big . In the best money changer the cost can be as low as 0.0025% . I usually see at the airports , cost can be as high as 5% .

                    If you still find few daytime hours , I would choose Atlantis' advice on the reference I put in post no.3 above (Atlantis was this Forum's Super Moderator and a very trusted member) :

                    [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.]


                    ------------------------------------------


                    from http://www.balimaspintjinra.com (PT Bali Maspinjinra)
                    BMC Sanur (money changer)
                    Jl. Danau Tamblingan no. 18 Sanur - Denpasar
                    Phone, (0361) 281229
                    Fax, (0361) 281229

                    ------------------------------------------


                    from http://www.balibestrate.com/money-changer.php (PT Dirgahayu Valuta Prima)
                    Sanur/Dragon
                    Address : Jl. Danau Tamblingan No 66
                    Phone : +62361 282657, 282658

                    Sanur/Poso
                    Address : Jl. Danau Poso
                    Phone : +62361 285135

                    ------------------------------------------


                    And if you are going to Lombok or Makassar , PT Bali Maspinjinra has office there too , but I don't know if they offer the same Bali's exchange rates there :
                    From their website : http://www.balimaspintjinra.com/contact.php :
                    BMC Lombok
                    8Jl. Raya Senggigi Km -13 Lombok - Nusa Tenggara Barat
                    Phone/ Fax , (0370) 692247

                    BMC Makassar
                    Jl. Dr. Ratulangi no 81 Makassar - Sulawesi Selatan
                    Phone , (0411) 874444
                    Fax , (0411) 832972
                    Last edited by marcus; 1 week ago.

                    Comment

                    Working...
                    X