Changing money in Bali

[Oliver]

Any advice? is the airport the best place?
My last visit was over a decade ago but I recall the problems I had with money changers in Seminyak and the inconvenience of carrying a large number of dirty notes....not to mention the difficulty of ensuring that I was not cheated.
I'm taking US dollars.

[paulosussex]

Hi,
The airport rates aren't that good and you generally do better on the streets. Shop around for decent rates but count the notes very carefully and watch out for being scammed and shortchanged. Often those very good rates are a sign the dealer is less than honest.
The ATM network is pretty good and saves you the hassle of money changers, I find the charges worth it for ease and peace of mind, not to mention security.
Banks are also another exchange alternative, you won't get ripped off even if the rates are slightly below street rates.
Cheers

[vpnoy]

Street side exchange outlets that post higher exchange rates usually are scam. They are pretty good at robbing you right in front of your eyes and you don't even see it. I got robbed a few years back (speaking of experience).

If you have an ATM card that does not charge Foreign Transaction Fee, use that. The exchange rate usually is pretty good.

[Oliver]

Correct. And they are assisted by the high denominations of notes (┬г1 = 19000 rupiah).
The best rates are at "Authorised" money changers. Worth walking (or driving) the extra few hundred yards to use them.

[danny99]

Any advice? is the airport the best place?
I recall the problems I had with money changers in Seminyak I'm taking US dollars.

As with almost anywhere the airport is the worst place to change money.

Changing at shops in the sleezy south or even Sanur is fraught with danger, they have to change the money themselves at the official places so they must give you less NO MATTER WHAT RATE IS SHOWN OUTSIDE! No problems in Ubud though as most are agents.

BMC [http://balimaspintjinra.com/] and Central Kuta [http://www.centralkutabali.com/] are the two biggest foreign exchange places, they have offices [almost like banks] in Kuta, Kerobokan, Sanur and Ubud. The rates fluctuate all day but their spread is amazingly small...e.g. if they buy US dollars from you at say 11,130, they will also sell them to you at 11,230! No passports, etc, needed, you can change ANY amount any time...you can always tell the official ones as they will need you to fill in a small form [any name will do].