Safest ways to exchange money in Bali to avoid a scam

Holidays are all about having a great time.   Losing money, having your card skimmed or being scammed can ruin your trip.  Bali is beautiful island full of caring people, but like anywhere in the world, you still need to be aware when changing money or using an ATM.

Here are some helpful tips to ensure you have a smooth and scam-free experience on your next trip to Bali.

Change money before you leave home

One thing we always hear is “should I change my money before I leave?”.  This really is an individual choice but there are a few things to take into consideration.

You will generally get a lower currency exchange rate in your home country than you will in Bali.  For example, when writing this article, Travelex in Australia gave you 9185 IDR per Australian dollar whereas Central Kuta Money Exchange gives you 9500 IDR per Australian dollar.

You can change money at Bali International Airport and you will get a slightly higher rate than in your home country but a slightly lower exchange rate than you will at the local money exchanges.  Also, these are on your way out of the airport so by this stage you have probably had enough of the airport and just want to get stuck into that first Bintang.  If you do decide to change money at the airport make sure it is with an authorised money exchanger and there is no commission.

A good idea is to exchange a small amount in your home country before coming (say $200 – $500) so that you have enough cash to get you through the first day or so until you find a local money changer. 

TIP:  If you use Travelex to change your money make sure you order online and pick it up at a store.  By completing your order online you will pay far less fees (usually none) than you will if you place the order in store.

Exchange money on the street in Bali

One thing you will see everywhere is Bali is the white money changing boards showing foreign exchange rates – these are everywhere!  But don’t be fooled, they aren’t all the same.  The smaller (generally non-reputable) money changers often have exchange rates higher than the reputable ones (as you can see below).

Even though you may think going with the higher exchange rate is always best, the smaller money exchanges are known for skimming money and scamming you when you use their services.  As a rule, try and stick to the well known and reputable commission free authorised money exchanges such as:

These exchanges are reputable, authorised, have been around a long time and have branches all over the island.

Whenever you do exchange money, always count it yourself and do not hand it back once you have counted it.  This ensures you cannot get money skimmed.

TIP:  The best time to exchange money is between Monday lunch time to Friday lunch time!  You will often find the exchange rates drop over the weekends.

Using an ATM in Bali

The last, and easiest, way you can get scammed is using ATMs (if you use the wrong ones).  It typically is never the Balinese that carry out card skimming but more than likely foreigners on the island.  ALWAYS only use bank owned ATMs that have CCTV like in the image above.

You should avoid small non-bank ATMs as these are known for card skimming and always take time to look at the machine to spot signs of tampering and ALWAYS pull on the card area to ensure it doesn’t have a skimming device on it like below.

In Bali, some ATMs give your money out BEFORE releasing your card so make sure you have both your card and money before you leave the ATM.  One final thing to remember about using ATMs overseas is that your bank may charge you a fee for doing so and this can add up over your trip.  

That’s it!

Exchanging money and withdrawing money in Bali doesn’t have to be a daunting task.  Just stick to these tips and be smart when you are on your holiday. 

If you need affordable, reliable transportation for your next trip please check out our Airport Transfer Service.