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Read This to Know How to Spot a Safe Money Changer in Bali

In case you’re new here, we feel like we should warn you that not every money changer outlet has authorization.

Some are so sketchy you won’t even consider going there, but some actually do look professional enough for your eyes.

With the holiday season reaching its peak this time of year, you might find yourself lying down on the beach with a glass of fresh mimosa in one hand and a good read in the other. After along year of hard work, we can only agree that you deserve it. Go on and enjoy some lazy time while you can, and embrace this holy-days!

In this digital era, it has become easier to travel around the world. Every small aspect from plane tickets, hotel rooms, tour packages and even car rents can be booked over the internet weeks before you even set foot on your destination.

The smallest details of the places you plan to visit are there on the webs so you can prepare for the best experience. Besides giving us the privilege of settling everything down from across the world, the internet has also allowed us to travel in a safer way.

Travellers’ cheque and mobile banking have been known to decrease the chance of losing money during a trip, not to mention all these electronic-money things that keeps our safety even more.

However, we can’t deny that it’s always a good idea to have some local currency on hands for miscellaneous use like tipping, paying for taxi rides, or even to buy snacks in small shops with no access to use your credit or debit card.

The easiest way to achieve this is of course by going to a money changer and exchange some of those bucks into Rupiah notes. Here are some things you need to be aware of before going into a money changer outlet.

  1. Look for the “Authorized Money Changer” sign anywhere outside the outlet, be it on the name plaque or even a sticker on the doors. This sign means that the outlet has a legal authorization to do money exchanges from the Bank of Indonesia, the main regulator for Indonesian banking activities.
  2. Look for a (or some) CCTV in the closure to insure further safety during your transaction, moreover when you’re exchanging some bigger notes. These CCTVs will help should there happen any inconvenience, though we pray for it not to happen.
  3. Bring a valid identification documents especially if you are putting big money into the transactions since they sometimes will ask for identification in order to avoid identity theft, money laundering, or financial fraud.
  4. Ask for a receipt (and keep it for some time). Although this seems like an unnecessary thing to do, it can save you from minor inconvenience that you face after you leave the premise, such as a tear on the bill. Of course you should check the notes while you were in the outlet and make sure that they are all in good condition. If you suspect a note to be counterfeit money, hold on to it and report it to the police, making sure you remember the name and address of the place.

There they are, some tips for you to pick a safe money changer outlet in Bali. Stay safe, and enjoy your time in this sweet paradise. Happy holiday!