1
I think you should exchange money before you arrive in Bali, you can also bring some $NZD to exchange at the bank later if you need more. ATM would be fine but it will charge you every time you withdraw money out.2
When you say "I have been told..." who told you this, and what did they say? Your informant seems unreliable.... I have never had problems with any ATM, unless it was actually broken (happens everywhere around the world) or is out of money.In any case, ATM's are common in Indonesia, you can always go to another one, assuming your card is linked with one of the major international networks. Also have never had a problem changing money at any bank, whether or not I have an account there.
Whenever you change money in your home country, you will likely receive a much less favorable rate than if you changed it upon arrival, unless of course you get scammed. That's a whole different topic!
4
It is never better to buy foreign currency in your home country; no matter where you live. If you live in a country with an unstable country you may be better buying a tradeable currency to take. Usually, however, ATMs worldwide accept Visa and MasterCard branded cards.In very remote, little travelled destinations - it may be better to buy a readily tradeable currency (USD, GBP, EU before you leave home.
The ATMs in Indonesia are reliable - and they're common throughout Java and Bali - available most other places too
5
@4, when I was in Singapore's Little India, KualaLumpur's Sungai Wang Plaza and Bangkok's Pratunam, I noticed the local currency's exchange rate for the rupiah is consistently better than what I can get in Jakarta and Padang.Eg. in one of the exchange booths located in the basement level of Sungai Wang Plaza, 1 ringgit exchanged for 2970 rupiah but in Jakarta's Ambassador Mall, 1 ringgit exchanged for 2850-2900 rupiah. In Padang, its even lower, 1 for 2800. This was in Sep' 12.
Maybe Sg, KL & Bkk are the exceptions?
6
9 out of 12 months travelling through Indonesia and not once did I have any problems with ATMs; from Banda Aceh in Sumatra all the way along to Maluku and East TNT... (including passing through Bali).I always had a stash of UK Pounds for emergencies. The exchange rate in country is always more favourable than outside the country.
As previously mentioned all ATM's throughout the world break down or run out of money; i was fortunate that all ATMs gave me money when requested.
Watch out for the mount each ATM can give you during one transaction..... some throughout Indo will only give you 500,000 rp..... others up to 2,500,000 rp.
8
@samara400With my HSBC account, the exchange rates were similar to that offered by the reputable moneychangers in Bali only, but not in Jakarta or Padang or Medan or Banda Aceh.
The banking fees imposed when I withdrew from HSBC Indonesia make it uncompetitive for me to use the ATM.
Whats the experience of those using ANZ Indonesia & Commonwealth Indonesia?
10
For those living in the U.S.A. and in many other Western countries, the foreign transaction fees charged make using an ATM more expensive to change money than changing U.S. $ 100 notes and most other Western currencies at the offices of PT Central Kuta on Bali and at other reliable moneychanger offices.The exception to this is that, to my knowledge, only Capital One Bank and Schwab Bank don't charge a foreign transaction fee.
Check with your bank and/or credit card company to find out what they charge as a foreign transaction fee -- typically it's 2-3 percent.
Many travelers like ATM's for the convenience and don't care about the foreign transaction fee.
But when changing cash with a moneychanger use your own calculator to figure the proper amount and count your Rupiah 3 times before you leave the office because most moneychangers in Kuta will try to shortchange the foreign tourist. The practice of shortchanging is the rule rather than the exception.
