As in most countries, there are dishonest people in Bali too. Money changers have a notorious reputation for sleight of hand, rigged calculators and other scams. Unfortunately, we frequently hear from people who have been ripped off by one of these dishonest money changers. A little research before going to Bali will prevent anyone putting themselves in a position to be cheated. If you follow the rules set out below, you should not have a problem locating and using an honest money changer.
• DO NOT use a money changer that is located down a lane way or alley.
• DO NOT use a money changer with a desk at the back of another business.
• DO NOT use a money changer if the sign does not say “authorized” ( and even if the sign does say authorized, do not let your guard down and do follow all the same rules)
• DO NOT use a money changer with an advertised rate which is better than any other in that area. (If the rate is too high, the changer is not making any money on the exchange and will have to cheat you to make money)
• DO NOT hand over your money until you are satisfied that the exchange is honest and you have the rupiah in your other hand.
• DO NOT allow anyone else present to distract you during the transaction.
• DO NOT accept any smaller denominations than 50,000 and 100,000 notes (a sure sign that you are going to be cheated is if they say they have run out of large notes and try to give you small notes instead).
• DO NOT allow anyone to touch the rupiah once you have counted it and are sure it is correct.
• DO only change your money at dedicated money changer (or the business listed further in this list)
• DO check their calculations, on your own calculator, if necessary.
• DO count the rupiah, twice, in full, before handing over your money.
• DO keep the rupiah in your hand, do not put it back down on the counter.
• DO, if you feel at all uncomfortable or suspicious, walk out.
• DO, if you find you have been cheated, go back to that money changer and ask for the rest of your rupiah (most keep a ledger of the amounts they have skimmed, so will know exactly how much you have been shorted).
• DO try to keep using the same money changer, once you have found an honest and reliable one.
In our experience the businesses listed below are honest, but having said this, always check and never take their honesty for granted:
Kodak Shops
Fuji Shops
Airport Money Changers
PT Bali Maspintjinra, Kuta Jl Sriwinjays No 16A
BMC Seminyak PT Bali Maspintjinra(opposite Bintang Supermarket, next to Sip restaurant on the Kuta side.)
PT Bali Maspintjinra, Head office Jl Raya Seminyak No 16A
PT Bali Maspintjinra, Sanur, Jl Danau Tamblingan No 18
PT Bali Maspintjinra also has offices in Makassar and Lombok
Some hotels will offer a decent exchange rate if you feel that the money changer process is not for you, and want an easier, hassle free option.
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I get into similar situation, first time I was in Bali, this are good tips, which I think everybody have to apply if travel abroad.
I think this is pretty normal in every touristic place in developing countries. The thing is that we need to be a bit smarter and don’t fall in trap of currency exchange or taxi drivers.
I have been ripped off by money changers twice. Everybody need to be really careful, especially if you are first time visitor in any country.
Stay away from Bhatan Silver money changers in Legion St Kuta. We got a ‘too good to be true’ rate there, but being very experienced with dealing with money changers took the risk. The bloke was good, the best, the only money changer to ever cheat us out of a dollar, and we have dealt with some stinkers (we have spent more time overseas in the last year and a half than we have in Australia, all of this in underdeveloped countries.
The deal is that they have two blokes behind the counter, they recount the money into piles again and again, just after you count it, if you count it three times, they will count if four. With a sleight of the hand five out of every ten notes disappear, easy not to notice when you are dealing with 60 20 000r notes!
Then at the end there is the dodgy coin trick to take your mind off what you have received.
We got done for 400 000 and realised later that day. We went back two days later to change more and see if we could pick up how they were cheating….even with both of us watching intently and me secretly filming on my phone it’s hard to see the quick movements. We stepped just away from the counter and recounted our money, 400 000 short again! amazingly the same amount as the previous exchange….with a quick threat to call the police and a warning to give us what was due, we recouped all of our rupiah from that exchange and thanks to the healthy exchange rate offered recouped some of our loss from the previous day.
Sneaky bastards!
My husband is now intent on visiting this man on every trip to Bali…if you can pick him up on it, he is the best deal for a money exchange in Bali!
If everyone took this approach to dodgy money changers and checked and rechecked their cash, we could put the sneaky shits out of business!