Important Tips for Using Money Exchange in Bali

One of the ways to get used to living or settling in Bali is to know the places for Indonesia money exchange. In case maybe you need a currency exchange in a new location.

Exchanging money is a common thing for expatriates living in an area. It is the same with people who live in Bali, immigrants from other countries, or people who travel abroad.

Tips for Using Money Exchange in Bali

Although this money exchange activity has become commonplace, you still must be careful when exchanging money. Especially if the area that still feels foreign to you. Here are tips for using a money exchange on the island of Bali:

1. Credibility

When you are traveling or on vacation in a country, surely you will need to look for a place to exchange money at that spot. When looking for a money changer, you must find the right place.

Prioritize the credibility of the money changer, which is already trusted by other tourists like you or find the one with a legal permit. This will make it easier for you to find the right place.

2. Don’t Haggle Rates

When exchanging money, you should not bid on the rates that have been determined by the company. Credible money changers have fixed daily rates, so bidding would not be accepted.

3. Always Check Twice

Do the calculation repeatedly after you receive the money and exchange it. Especially if the money changer you choose looks suspicious, you should check twice so you don’t lose money.

This is not something uncommon or a news for Bali because the high demand of money exchange places there make people or even companies not hesitate to commit fraud.

4. Don’t Accept Additional Fee

There will be no additional fees when exchanging money, for example, USD or AUD. So when a money changer company does that, you should be suspicious and avoid the place.

Ensure you have received the money correctly and count according to the rules. Giving extra money carelessly is not at all the right idea. It would be better to choose a safe way than regret it later.

5. Beware of Scams

There are a lot of frauds in terms of exchanging money in Bali. Usually, they do certain tricks when the money exchange process is being carried out. They are used to attracting foreigners who don’t know how to exchange money by charging higher rates. This higher rate has the potential to be fraudulent.

You should also not come alone when exchanging money because if something unexpected happens at the money changer, no one will help you. So try to bring a companion when exchanging money just to be safe.