Changing Money in Canggu, Bali
We have all heard the horror stories when it comes to changing your hard-earned holiday Australian dollars into Rupiah on your Bali holiday. Over the years countless numbers of unsuspecting travellers have been ripped off & short-changed at the local money changer.
But, the following video was taken on January 26 2022 and it’s living proof that you can change money with no hassles or issues whatsoever in Canggu. (this post is updated to show you that you don’t have to go to a money changer BUT can in fact go to your local ATM – simpler, easier, faster and a lot quicker!!)
You can have complete confidence in knowing that you’re going to get exactly what’s expected. The exchange rate is clearly detailed and the amount in your pocket after the transaction will be as per the exchange rate.
This just so happens to be taken in Canggu, but the same principle applies throughout the island of Bali. Sure, there are some money changers that are out there to rip you off but these are slowly being phased out of the main tourist areas and replaced by these large money changers.
If you happen to be staying in Canggu there are loads of great money changers the main area of Jalan Batu Bolong. In fact there are probably around 10 of these so finding them is definitely not a problem. If you are staying in one of our Canggu villas and still need help your villa manager will be able to assist you in changing money.
How to spot a dodgy money changer
There are 5 main ways to spot an unscrupulous money changer in Bali.
- their rates ore often higher than those of others. This is designed to get you excited and get you into their shop.
- the billboard displaying the rates are often old
- they try to get you into their shop by offering their money changing services
- they will distract you when they are counting out the money. This is their art and you have to be quick to spot it. If there is someone next to you when they count the money out in front of you this is a sign that he will try to get your attention for a second or two while the short change is carried out
- the money changer is a tin shed or small hole in the wall – if it looks fishy and seems dodgy then avoid them!
Ways to spot a decent money changer
- it’s a big stand along with shop like in the video
- the rates are uniform and not inflated to attract you – this is really important to note. Most reputable money changers will all have the same rate. This is a tell tae sign that they are legitimate. Inflated prices are all smoke and mirrors to try to get you into the shop.
- the count it in front of you with no distractions and if you ask them to count it again they gladly will.
For more information about changing money in Bali that fowling article is very useful: https://balivillaescapes.com.au/changing-money-in-bali-you-have-been-warned/
You will also be please to know that there are also loads of ATM’s in and around Canggu if the thought of carrying cash terrifies you. They are all legitimate and as long as you go the main ones in the tourist areas of Canggu you will be fine.
Changing your money, especially in areas like Canggu have come a long way in the past couple of years. The government has done a great job in cleaning the black market up. So, basically there is no need to worry what so ever. It is safe!