Bali is one of the world’s most popular tourist destinations, and if you’re planning a trip, it’s good to know a little bit about the local currency so your vacation goes smoothly. The official currency of Bali is the Indonesian Rupiah (IDR), and it’s worth knowing a few things about exchange rates, how to pay for things, and potential scams before you go.
In this article, we’ll cover everything you need to know about money in Bali, including where to exchange currency, whether you can use your credit or debit card, how to avoid getting scammed, and some tips for saving money.
Understanding the Indonesian Rupiah (IDR)
When you’re in Bali, the only currency you’ll be able to use is the Indonesian Rupiah (IDR). It’s the only legal tender there, and using it will keep you from getting hit with bad exchange rates.
The Rupiah is divided into 100 sen, although those coins are rarely used these days.
You’ll find banknotes in the following denominations: 1,000, 2,000, 5,000, 10,000, 20,000, 50,000, 75,000 and 100,000 IDR. Coins come in 50, 100, 200, 500, and 1,000 IDR amounts, but you won’t see them as often.
As a general idea, here’s what the exchange rate looks like for some major currencies:
- 1 USD = ~15,000 IDR
- 1 AUD = ~10,000 IDR
Keep in mind that exchange rates can vary a lot, so it’s always smart to check the latest numbers right before you leave for your trip.
Exchanging Currency in Bali: Best Practices
You’ll likely need to exchange some of your home currency for Indonesian Rupiah while you’re visiting Bali, so let’s talk about how to get the best exchange rate and avoid scams.
Where to Exchange Currency
Stick with authorized money changers, banks, and hotels. Banks and authorized money changers tend to offer the fairest exchange rates.
Skip the currency exchange booths in the airport, because they tend to have less-than-favorable rates.
And avoid unlicensed money changers at all costs. Although they may advertise tempting exchange rates, they may be running a scam or tacking on hidden fees.
How to Exchange Currency Safely
- Before you head out to exchange money, check the current exchange rates online or with a foreign exchange app.
- Always count the money you receive before you leave the teller’s window.
- Be on the lookout for exchange rates that seem way out of line, and ask about hidden fees before you agree to the transaction.
- Familiarize yourself with the mid-market exchange rate before you leave on your trip, so you’ll have a better sense of what’s reasonable.
Recognizing and Avoiding Money Changer Scams
Be on the alert for common scam tactics, like hidden fees and sleight of hand.
Always count your money in front of the teller before you leave.
And remember, if an exchange rate looks too good to be true, it probably is.
Using credit and debit cards in Bali
Credit and debit cards are accepted in many locations in Bali, particularly in tourist areas, hotels, and larger shops and restaurants. However, smaller businesses and local vendors may prefer or only accept cash.
Before you leave for your trip, check with your bank about any potential transaction fees they may charge for international purchases. Also, it’s a good idea to let your bank know about your travel plans so they don’t flag your purchases as suspicious and freeze your card.
When paying with a credit or debit card, you may be offered the option of paying in your home currency rather than Indonesian Rupiah (IDR). This is called Dynamic Currency Conversion (DCC), and it’s generally best to avoid it. DCC often comes with unfavorable exchange rates and higher fees.
In addition, you may be charged an additional 2-3% fee for using a credit card.
ATMs in Bali: Getting Cash
You’ll find ATMs all over Bali, especially in the areas frequented by tourists. For your safety, it’s always best to use ATMs that are located in or near bank offices that are well-lit. ATMs located in hotels or malls are also generally considered to be safer than standalone ATMs.
ATM withdrawal fees
ATM withdrawal fees can be pretty high in Bali, sometimes reaching 10% of the amount you’re withdrawing. To avoid surprises, it’s a good idea to check with your bank about what international ATM fees they charge.
Security tips
Be extra careful when using ATMs in areas that seem less secure. Always shield the PIN pad as you enter your PIN, and stay aware of the people and activity around you.
Managing Your Money in Bali: Practical Tips
Once you’re there, a little planning can help you make the most of your rupiah.
Budgeting and Planning
Do a little research into the average costs of meals, transportation, and lodging, so you can create a realistic budget. You can find delicious local meals for as little as a dollar or two, and transportation through ride-share apps like GoJek or Grab is relatively inexpensive.
Carrying and Securing Cash
It’s a good idea to carry small bills for small purchases. You might want to break any large bills you get so you have smaller bills on hand. Consider keeping your cash in different spots so you won’t lose everything if a bag gets stolen. Some travelers like to use a separate pouch or wallet for daily cash.
Alternative Payment Methods
Explore alternative payment methods like the Wise travel money card. Also, consider using prepaid cards as a backup payment option.
What to do if your cash or cards are lost or stolen
If your credit or debit card disappears, let your bank know immediately. Make sure you have their contact information handy before you leave for your trip.
If someone steals your cash, tell the local police.
You might also consider alternative ways to receive money in an emergency. Western Union wire transfers are one possibility, but it’s a good idea to research the best options and have a backup plan before you leave for Bali.
Final Thoughts
In Bali, you’ll primarily use Indonesian Rupiah (IDR). Be sure to exchange your currency safely and manage your money wisely to get the most from your vacation budget.
With a little planning and information, you can relax and enjoy your trip to Bali without worrying about money.