Independently owned convenience store ATMs charge a high transaction fee. They also tend to have the majority of scams or fraudulent activity. Wise is authorised by the Financial Conduct Authority under the Electronic Money Regulations 2011, Firm Reference , for the issuing of electronic money. Wise works with a local bank partner to offer the service in India with the approval of the Reserve Bank of India. Whether you need to make cross-border payments or FX risk management solutions, we’ve got you covered. Schedule international transfers and manage foreign exchange risk across 130 currencies in 190+ countries.
- Our smart tech means we’re more efficient – which means you get a great rate.
- Whether you change money in advance, on arrival, or simply use your card to pay when you’re in Bali, you’ll soon become familiar with the notes and coins you’re handling.
- Over the past 20 years or so, the rupiah has been weakening pretty notably.
- Changing money at banks is very safe and you won’t have to worry about security like you would at some ATMs.
Choose your currencies
You will probably need cash for transportation from the airport as taxis from the airport require cash. You can send a variety of international currencies to multiple countries reliably, quickly, and safely, and at a rate cheaper than most banks. Up until 1997, Indonesia used the managed floating rate currency exchange system and 1rs in bali currency the government devalued the rupiah several times to boost exports and aid economic expansion.
A Guide to Money in Bali
If you don’t declare it, customs have the power to confiscate the money! These standalone air-conditioned boxes are run by major banks and are well maintained. But again, be cautious these aren’t always monitored and could have been fiddled with. Join 100,000+ monthly readers who use Jen and Guy’s destination guides, travel tips, and itineraries to plan trips in the USA and around the world. Most of the people we came in contact with were wonderful and honest.
There are many money exchange booths you will find in the streets of popular areas. Just make sure you’re careful counting what they give you. Both in Australia and in Bali, steer clear of exchanging currency at the airport.
Where To Exchange Currency
If you want to set your travel budget in advance, you may prefer to buy your IDR before you leave home. Create a chart for any currency pair in the world to see their currency history. These currency charts use live mid-market rates, are easy to use, and are very reliable.
I use it constantly to transfer money to and from my home bank accounts and even to other people’s bank accounts in other countries. It has saved me a small fortune in unnecessary bank fees and international wire transfer charges. Alternatively, digital payments like GoPay and OVO can be good options because they’re often lower in fees and can be more secure.
What is the Bali Currency to the USD exchange rate?
Order a travel card online or in a store for your trip to Bali, depending on the provider you pick, and top up in either AUD or IDR before you travel. Your exact options will depend on the specific card, as holding a balance in IDR isn’t always available. However, a travel card can still be convenient and secure. Just tap to pay in stores, and take out cash as and when you need it, rather than carrying all your travel money with you on departure. Because every business is required by law to charge in IDR for their services, it is the dominant currency. However, you will still see rates published in US dollars, primarily in hotels and some activities.
