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Currency question

Scotland
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181 posts
34 reviews
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Currency question

From reading other posts on here about what currency to take to Bali, it seems we are best sticking with Rupiah. But someone has told me you are only allowed to take a small amount in to the country with you is that correct?

Also, is it true you can only withdraw small amounts from ATM's?

Leeds, UK
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for Bali
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1. Re: Currency question

There is a restriction on the amount of rupiah you can take into Indonesia before you need to declare it (I believe it's 100 million rupiah - you won't need this amount of money unless you're an incredibly hardened drinker).

But, I would personally just get your rupiah when you arrive - simply for the fact that you get a much better exchange rate in Bali compared to the rate you get in the UK. You might have trouble changing Scottish pound notes, so if bringing in cash, bring pounds sterling.

The ATM limit varies, usually 1.5 million per day, but sometimes a heck of a lot more. This previous thread provides more info:

tripadvisor.in/ShowTopic-g294226-i7220-k2566…

Perth, Australia
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for Cambodia
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2. Re: Currency question

HappyNoodleboy is right as always. Don't bother trying to change money before you come as the exchange rate inn your home country will be woeful. There are places to change money all over the place in Bali - just make sure you count the money before you leave the desk.

Given that all the zeros with the currency can be a bit daunting to begin with, it would be useful to bring a little calculator with you to use until you get used to it.

Lombok, Indonesia
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3. Re: Currency question

I think noodle boy might have mistyped a small detail. I suspect what he meant was Rp1,500,000 single transaction limit. In other words most ATMs only allow between Rp1,000,000 - 1,500,000 to be withdrawn per transaction. Most of them have a daily limit of Rp10,000,000. So to get out more significant amounts of cash multiple transactions are required. This can be problematic if your home bank charges you any sort of foreign transaction fee. Most will bill a "Cash Advance fee if you access your home account through a Visa or MC branded card, regardless of if you are drawing from a credit or a debit account. If you need to draw out a lot of money, perhaps for a major purchase like your accommodation then do be aware of this. Some chose to do this in a bank as an over the counter "Cash Advance" using a Visa or MC branded card, that way you only get lumbered with the one "Cash Advance" fee. Best check with your bank or shop around for a card that does not have big foreign use penalties before you leave home.

Otherwise Noodleboys advice is spot on, including referring you to the link which has some good info. In my own experience HSBC ATMs have the highest single transaction limit. Mandiri is a good local bank but their machines often only give Rp1,000,000 per transaction. I recall Commbank is also quite good with foreign cards but as I have a local account with them I am really not sure as I only ever use the local ATM card in them. Mandiri and Commbank generally have the best bank counter forex rates. Do check their rates before you use one of the money changers. It is also worth bearing in mind that if you do need to take a lot of money out of an ATM then the largest local denomination is Rp 100,000 and Rp 50,000 machines are common. If you needed to take out Rp10,000,000 you will have a big wad of cash to deal with and you may look a bit odd walking down the road cradling it in your arms if you do not go adequately prepared. It is easy to run out of pocket space. You bank will process your transaction often up to a day later, the exchange rate may have fluctuated up or down in that time, this leaves an air of mystery about the final amount debited to your home account that can often be sustained for well over 24hrs depending on the time and date displacements and interbank communications. The most surety is from a cash to cash currency exchange after carefully appraising the appropriate forex rate. Some are not comfortable with travelling with large quantities of cash though and prefer to just let their bank skim off their often very generous fees and commissions.

Edited: 20 June 2011, 18:56
Scotland
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181 posts
34 reviews
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4. Re: Currency question

Thanks a lot for all the info guys. Really helpful!

Bali, Indonesia
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5. Re: Currency question

♦Change your currency to the trusted money changer, Don't be interested in higher rate offer from illegal money changer, They are totally tricky. Central Kuta Autorized money changer is one of the trusted money changer with recent update rates, They have branches in every tourist destinations.

♦For large amount sale, Use your credit card for better transaction if you are having problem with local "rupiah" Currency (Bank surcharge may apply from 2-3% from your total sale)

♦Local "rupiah" (signed with "Rp") the bank note is start from Rp.1,000,-Rp.2,000,- Rp.5,000,- Rp.10,000,- Rp.20,000, Rp.50,000,- and the largest bank note is Rp. 100,000,-. The coin available for Rp.100, Rp.200, Rp.500, Rp. 1000 (they are rarely used)

Melbourne, Australia
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6. Re: Currency question

Hi,

When we were in Bali, we took over $500 in aussie and had that in case, but we ended up using the ATM's (the ATM's next to the Bintang Supermarket in Seminyak are great and secure) and the limit on a single transaction on those were 1,500,000 for one ATM and 2,000,000 for another (I think the ATM was from Mandiri Bank).

We ended up using our credit card most of the time as most of our buying was from the awesome boutiques in Seminyak.

Hope that helps.

Cheers.

7. Re: Currency question

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