Where did I get robbed?

[timster]

I can't really understand why anyone would use local exchange except in an emergency.
Pre-loaded Citi VISA debit for ATMs and 28Degrees MC for everything else where you can't be bothered with cash. The only risk is card fraud. And falling for the "Would you like to pay in Australian dollars ?" credit card scam.

The only extra charge is the 150/180 baht in Thailand and some other countries' ATMs that sometimes levy a dollar or two (eg USA). That does tend to make you withdraw bigger amounts.

 

[ChrisDPom]

"I can't really understand why anyone would use local exchange except in an emergency"

Lots of places in Bali don't take cards.

I look on a Bintang when I have enough of the heat as an emergency

Chris

 

[timster]

Lots of places in Bali don't take cards.

Which is why I deal mainly in cash from ATMs in Asia, using pre-loaded Citibank Visa Debit (no charges).

I use 28Degrees MC (only no-charge for non-ATM transactions now) less often in Asia (mainly for hotels that take cards).

I can understand a need for exchange vendors in remote locations with no card-accepting vendors and no ATMs.

 

[A.Butts]

For the pursuit of a great deal, we are prepared to go down shady looking alley ways, which is a perfect oxymoron. It just doesn't work that way anywhere. The reason the two piles of money are Rp500,000 and Rp400,000 and then counted separately and repeatedly, is so you end up with Rp900,000 in your thoughts but only Rp400.000 in your pocket. A Rp100,000 note is easily "slipped, dropped or fell off the table" by the last counter (the dealer) so its in your interest to do not sit across the table, but stand over him and be the last person to counter the money. Or leave !!

Here are the two basic rules to adhere to during the game:
a) Don’t use dodgy-looking exchange kiosks down narrow gangs; and
b) Always be the last one to count your money.[FONT=Georgia, Times New Roman, Times, serif] This is crucial. When we were seriously ripped off we assumed the money-exchanger had counted the notes in front of us was counting correctly. Seemingly it wasn't, and it cost us money.[/FONT]

 

[JohnK]

I've never wanted to go to Bail (or Thailand for that matter), so just another reason for not going there

I was the same until I got the opportunity to go to Thailand for work in 2003.

You can get ripped off anywhere in the world. Some of the biggest rip offs are in the developed world.

I have been to various places around the world. Some I will never visit again. There are many places I have never visited and have no desire to visit. Bali is one of them.

 

[baggyred]

Which is why I deal mainly in cash from ATMs in Asia, using pre-loaded Citibank Visa Debit (no charges).

I use 28Degrees MC (only no-charge for non-ATM transactions now) less often in Asia (mainly for hotels that take cards).

I can understand a need for exchange vendors in remote locations with no card-accepting vendors and no ATMs.

That is my strategy!

Take enough cash for a taxi and a few bites at the airport - and the rest I withdraw from ATMs and use 28 Degree CC

 

[straitman]

I have been to various places around the world. Some I will never visit again. There are many places I have never visited and have no desire to visit. Bali is one of them.

Absolutely :!:

 

[Jurahn]

There are many places I have never visited and have no desire to visit. Bali is one of them.

I've visited Bali once (under protest) - I wanted to go to Singapore, but my (now ex) husband insisted that EVERYONE goes to Bali, so that's where we went. One of the worst holidays I've ever had, hated every minute of it and have no desire whatsoever to go there again. Thankfully my current OH has never wanted to go to Bali, Thailand etc which suits me just fine

 

[Franky]

It used to be the same story in Turkey with their lire, until they re-rated the currency so that the squillion zeros disappeared from the notes...

 

[lastrow]

What is a 28degrees CC or a 28degrees CM?.

 

[serfty]

What is a 28degrees CC or a 28degrees CM?.

http://www.australianfrequentflyer....n/28-mastercard-cash-advances-while-6960.html

 

[albatross710]

Being the ever so inquisitive one I'm back in Seminyak and just had to drop by a money changer.

With todays xe.com being an exchange rate of 9513, I was intersted to go into a counter offer a rate of 9,510. Other offers along the street ranged form 9,200 to 9,870.

a) The guy brought out his calculator, typed in the AUD 9510 rate and multiplied it by the $50 note i wanted to change. He was happy to show me the display showing a very accurate IDR 47,550. Knowing he was out by a factor of ten, I was amused to watch him count out the currency to exchange by $50 for $5 of local currency. I declined this offer and showed him the correct calculation of IDR 475,500.

b) He counted out 400,000 and offered that.

c) I walked out.

d) Went to the ATM and used the Citibank visa debit card. So much easier.

Alby

 

[moa999]

Being the ever so inquisitive one I'm back in Seminyak and just had to drop by a money changer.

With todays xe.com being an exchange rate of 9513, I was intersted to go into a counter offer a rate of 9,510. Other offers along the street ranged form 9,200 to 9,870.

a) The guy brought out his calculator, typed in the AUD 9510 rate and multiplied it by the $50 note i wanted to change. He was happy to show me the display showing a very accurate IDR 47,550. Knowing he was out by a factor of ten, I was amused to watch him count out the currency to exchange by $50 for $5 of local currency. I declined this offer and showed him the correct calculation of IDR 475,500.

b) He counted out 400,000 and offered that.

c) I walked out.

d) Went to the ATM and used the Citibank visa debit card. So much easier.

Alby

So he displays 9510.. But offers 951, then 8000. What a charletan.

 

[Buzzard]

If you want cash for Bali, why not just get some in Australia an take it with you?
Australia Post can order it for you.

 

[Cruiser Elite]

So he displays 9510.. But offers 951, then 8000. What a charletan.

Just par for the course - every second shop front is a Money Changer - it's tried on with every second touro - that's just Bali. No matter which way you mix the ingredients still simple basic straight forward solution to do as alby did and go to ATM with your Citibank Visa - ATMs everywhere - but of course as always everyone will see matters differently.

More and more restaurants / vendors accepting CC cards also so Prestige my main tool.

 

[albatross710]

If you want cash for Bali, why not just get some in Australia an take it with you?
Australia Post can order it for you.

As at today for AUD100

Australia Post = IDR 869,300
Citibank Visa = IDR 951,200

about 8% better rate plus no need to have everything in cash.

My interest in the moneychangers here was purely to understand the variety of methods they use. Astounding.

Alby

 

[ksthommo]

Kodak Shops used to have a reputation for not trying to rip you off in Bali.
Not sure if they still are. No way would I change dollars to rupiah in Australia,
Bali or Jakarta airport rate is much better.

 

[Buzzard]

As at today for AUD100

Australia Post = IDR 869,300
Citibank Visa = IDR 951,200

about 8% better rate plus no need to have everything in cash.

My interest in the moneychangers here was purely to understand the variety of methods they use. Astounding.

Alby

I most certainly agree that Citi is the better option.
The point I was making is that if somebody is going to get ripped at a money changer, better just take the cash with you.

Another reason that somebody may want to use Post is that you get mint notes.
IME some traders don't want to accept old tatty notes.

Your post(s) is interesting Alby as to how the scammers work. A good read.

 

[ChrisDPom]

Kodak Shops used to have a reputation for not trying to rip you off in Bali.
Not sure if they still are. No way would I change dollars to rupiah in Australia,
Bali or Jakarta airport rate is much better.

Yep Kodak shops are still reputable - there is one at Matahari Square.

Any money changer above the xe currency app price is going to try a ripoff (and remember xe is the mid price of buy/sell range).

The small money changers are just pot luck on whether they will try to rip you off so my recommendation is just don't bother with them.

The large chain groups are the best or just use a decent bank ATM (Mandiri, Permata are good) or Commonwealth Bank ATM's (corner Jl Melasti & Legian St for example). Depends on what rate you bank will give vs the xe app mid price + fees: check online with your bank rate vs xe app rate).

And please dont don't leave your ATM card in the slot at the ATM - seems to happen everyday!!

Airport rates at Denpesar are as much of a ripoff as Travelex at Oz airports - just don't unless to get a bit of cash for getting to your hotel - maybe $50 max.

Cheers

Chris

 

[ChrisDPom]

And just to confirm on this, my preferred money changer is this group:

CENTRAL KUTA MONEY EXCHANGE

They are honest, secure and have the lowest difference between their buy & sell rates (usually only a 100Rp spread per AUS$1).

Loads of outlets with parking (just ask your Bluebird taxi to wait).

I am now based in Bali for half the year+ and swear by these guys.

Cheers

Chris