Kuta’s Money Changer Nightmare

One of the most frustrating things about living in Kuta is dealing with money changers. I’ve lost count of how many times I’ve been ripped off or overcharged by these so-called ‘experts’. But after years of research and firsthand experience, I’m here to share my list of money changers to avoid in Kuta.

The Usual Suspects

First off, let’s talk about the money changers on Jalan Raya Kuta. This street is lined with them, all promising the best rates and service. But trust me, they’re just out to get your cash. I’ve seen them charging up to 10,000 IDR more for a US dollar than the official rate. That’s like paying $30 for a $20 bill!

One of the worst offenders is BCA Money Changer on Jalan Raya Kuta. They have a sign out front saying they offer the best rates, but when you get inside, it’s a different story. I exchanged 10 million IDR there once and they gave me a rate of 1,400 IDR per US dollar. When I checked the exchange rate later, I realized I had been ripped off by over 50 IDR per dollar!

Other Notorious Money Changers

Another money changer to avoid is the one on Jalan Kartika, near the Kuta Square. They claim to offer a ‘no commission’ policy, but that’s just a lie. I exchanged 5 million IDR there and they charged me 20,000 IDR in ‘fees’. When I asked them about it, they just shrugged and told me it was ‘industry standard’.

And then there’s the money changer on Jalan Legian, near the Hard Rock Cafe. They have a fancy sign out front saying they’re a ‘licensed money changer’, but that’s just a scam. I exchanged 20 million IDR there once and they gave me a rate of 1,500 IDR per US dollar. When I checked the rate later, I realized I had been overcharged by over 10 IDR per dollar!

But Where Can I Trust My Money?

So, where can you trust your money in Kuta? I’ve found that the best place to exchange money is at the bank. Yes, you read that right – the bank! I bank at BNI and they offer a great rate and no commission. Plus, you get a receipt for your exchange, so you can prove how much you got for your rupiah.

Another option is to use an ATM. Most ATMs in Bali offer a decent rate and you can withdraw as much or as little as you like. Just be aware that there may be a small fee from your bank, but it’s usually worth it to avoid the money changers.

Practical Tips for Exchanging Money in Kuta

• Always check the exchange rate before you exchange your money. You can look it up online or at a bank.
• Don’t exchange money at the airport or on the street. It’s usually a bad idea and you’ll get ripped off.
• Use a reputable bank or ATM to exchange your money. It may take a little longer, but it’s worth it to avoid the money changers.
• Don’t be afraid to walk away if you don’t like the rate. There are plenty of other money changers in Kuta, so don’t settle for a bad deal.

Final Thoughts

Exchanging money in Kuta can be a nightmare, but it doesn’t have to be. By avoiding the money changers on Jalan Raya Kuta and Jalan Kartika, and opting for a reputable bank or ATM, you can save yourself a small fortune. And remember, it’s always better to be safe than sorry – if you’re not sure about a money changer, don’t exchange your money there!