Comments on: Never Trust A Money Changer…

By: Money-changing scams in Bali | Travelfish on Bali

Money-changing scams in Bali | Travelfish on Bali — Sat, 01 Oct 2011 01:18:00 +0000

[...] If you'd like another take on these tricksters, Nomad4ever has a good piece on why you should never trust a money-changer. [...]

By: Chris

Chris — Sat, 10 Sep 2011 06:49:41 +0000

The only 2 Money Changing Franchises, which have emerged above the rest over the last 2 years are BMC and Money Changer Central (with a red/blue square logo). They both have now several branches in the Kuta/Legian/Seminyak area and so far, I didn't hear any horror stories about them. They have current electronic rates, several tellers, officially printed receipts and a minimum of 5 employees in every branch, overseeing each other. Still, if I have a choice, I would always vote against money changers and simply withdraw money from one of the thousands of available ATM's, rates are most likely better and the fees are very low or non-existent. In that regard and especially in comparison with Thailand and Philippines, I would say that Bali has the lowest ATM fees Asia-wide.

By: william leow

william leow — Thu, 01 Sep 2011 13:23:36 +0000

Me and my family stayed at Febris Hotel IN Kuta (Bali) end of August 2011. As a matter of fact, we just got home yesterday. 2 minutes walk from Febris Hotel (toward right hand side at the main street), there is another hotel called Sun’s Island Hotel (1 to 2 minutes walk from DIscovery mall as well). The money changer is right beside Sun’s island hotel. The rate they offered wais obviously higher than other changers. There were always a few guys squatting in front of it. I never trust any money changers there because i had read quitwe a lot of advices from internet. So, i avoid going to some changers offering higher rate but lead you to a small path behind some shops. So i chose the one at the main street. i requested they gave me big note like rp100000 each, I wanted to change rm600 Malaysia currency but i told them i just wanted to change RM300. That was to test them if they were honest or not. If they were honest, i would go there again and again since it was nearby my hotel. after I gave him my rm300, they were supposed to give my Rp892,500.00 the guy gave me all rp20000 each. i counted carefully and made sure it was correct. after the guy gave me (actually put in front of the table.) RP890,000.00, he asked me if i had small note of RP7500.00 so that he could give me another note of RP10,000.00. I partner who stood beside me and my two sons tried to distract us by explaining something. 3 of us turn our heads to look at him for a few seconds and then one of my sons took Rp7500 from his wallet to them. Then I just got the money in front of the desk and go away. after we went away like 20feet i looked back and saw them smiling and looking at us. i felt strange and and went inside a restaurant to take out my money from my pocket and counted again. OH Man! no matter how many times I count, there were only Rp600,000.00. Almost RP300,000.00 gone! after that i went back there, they closed the shop already. no one there! the next day we passed by their shop again. They opened again, It same like they didnt even remember us. we didnt go there and asked back the money because they were always a a guys of them in front of their shop and doing nothing (perhaps waiting for another one who tried to look for trouble) . 1 nour later when we walked back to our hotel, we saw their shop closed again. Must be somebody became victims! a few hours later, i walked out to buy someting again, we saw their shop opened again!. After the incidents, we talked to our car driver, he said these happened in Bali all the time. i felt sad about this. Not because of RP300,000.00, it is not much money to us (travelers.). What I felt sad is that Indonesia government dont do any thing about it. be careful guys when u go there! dun get cheated!
Another advice to u guys, dun go to eat at sea side restaurant for bbq dinner because it is a ripoff!.

By: Dean

Dean — Sun, 22 Aug 2010 02:29:45 +0000

Hi all, I just had the same experience at 3 different places in Seminyak. There is a money changer right opposite the Villa Jodie which played the same tactics as mentioned above. I never thought my poker skills would be so handy on the street . Same scam, 2 guys, one asking me where I was from. I started with a small amount $100 USD, to make it easy for me to calculate in my head. The advertised rate was 9300, which all of them along the street match.

We settled on 8000 (I know, considerably down, but close enough to the current rate). He counted out the complete amount, then counted out my 100USD again. I said, “yes, fine with that”. Then he picked up the IND again, counted it and dropped a portion behind the counter. I said “Hey, you dropped some, I want a recount. He said no, this is rate, showed me the calculator again with 7250 on it. I said no way, we agreed on 8000. After about another minute of “no no no I didnt, I said give me my money back. Which he did.

I went back to the Villa and asked reception, is there any respectable money changer in this town. He was rather concerned and asked me if I wanted him to call the police. I said, no bother, just take me to the money changer.

If you’re in Seminyak and want a decent honest respectable money changer (more like a little bank) go to PT. Mertha Alam Bali @ Oberoi No. 43 Kerobokan. Their number is (0361) 736 754. You feel secure, they give you a sliding scale rate (the higher the note, the higher the conversion) and you get a receipt.

By: Ken

Ken — Sat, 20 Mar 2010 07:24:25 +0000

This is an odd post with odd comments because Bali is the cheapest place I know to change money and money changers are easy to find. The cost is mostly less than 1% from the mid rate and the solutions proposed here are all much more expensive. For example I pay about 2% from an ATM plus a $3.5 fee with a maximum transaction size of about $250. There are some crooked money changers but they are easy to spot because the rates they advertise are impossibly high. If you walk around looking for the highest advertised rate you will get stung every time. I’ve noticed crooked money changers are often in groups as well. It is sad to see what is mostly an excellent service so maligned. Money changers in some places I’ve seen can be 8% from the mid rate.

By: robert

robert — Fri, 30 Jan 2009 04:57:26 +0000

camilla, what happened ? did the money changer cheat you??

By: camilla

camilla — Tue, 27 Jan 2009 07:09:09 +0000

very useful and love it seem like in singapore some cheat some gift me good value,once this happen in money changer in singapore

By: robert

robert — Tue, 27 Jan 2009 01:41:37 +0000

the bank mandiri in ubud, near the market, gave the best rates…compare but be careful if the rates are high ….atm is much safer and good rates too…

By: visa79

visa79 — Mon, 26 Jan 2009 06:43:26 +0000

I just got cheated in Bali airport.They had 2.5 times lower change rate than should have. Didnt ask for any receipt. Lost 60 euros…

And in lonely planet they said you can trust them..yeah right!

By: Indonesian Rupiah slides further - Expats and Travelers celebrate | nomad4ever

Sun, 23 Nov 2008 17:01:48 +0000

[...] Cash with you while traveling in Indonesia, get to an official Bank and exchange them into Rupiah. Avoid Money Changers who publish fantasy [...]