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Your long-awaited trip to Bali is fast approaching! You have been planning this vacation for a long time, and you are definitely looking forward to some down time sipping on a coconut at the beach. But how do you pay for that coconut? This begs the question: “Should I bring cash or credit card to Bali?” The short answer is, both. Read on and we’ll explain what kind of money you need in Bali.
What is the Currency in Bali?
Indonesia’s official currency is the rupiah (IDR). Therefore, the currency in Bali is also the rupiah.
- The current rupiah consists of coins from 100 rupiah up to 1,000 rupiah.
- Banknotes range from 1,000 rupiah up to 100,000 rupiah.
- $1 USD is worth approximately 16,921.10 IDR.*
- The largest Indonesian banknote of 100,000 rupiah is worth about $5.91 USD.*
*According to the current exchange rate.
Therefore, if you want to have a couple hundred dollars in your pocket, you will have a decent size sum of money to carry around in Bali. Imagine carrying around a couple hundred dollars in $5 USD bills. The largest Indonesian bank note is 100,000 rupiah. This is equivalent to about $7 USD. Therefore if you want to have the equivalent of $200 USD, not only will you be carrying around thirty 100,000 Indonesian Rupiah (IDR) bank notes, you will have about 2.9 million rupiah in your pocket! On the bright side, everyone that comes to Bali is a millionaire!
This now begs the question, “Should I bring cash or credit card to Bali?”
Should I Bring Rupiah or Exchange Money in Bali?
When entering Bali there are a few things to consider to help you decide whether you should obtain rupiah from your local bank prior to arriving in Bali, obtain cash at the nearest ATM in Bali, or bring your local currency and use a money changer to exchange cash in Bali.
Unlike the United States, Europe and Australia where going cashless is the norm, here in Bali cash is still king. The locals can use their bank accounts to pay for many things cashless, but as a tourist you will definitely need cash if you want to wander outside of your Bali resort, or AirBNB.
Most major banks in your home country will offer you the option to purchase foreign currency. You are indeed “purchasing” currency. You would think that you could simply exchange money at your bank at the current conversion rate you see online. Perhaps you Googled “Currency Calculator” and calculated a certain dollar amount to exchange. Unfortunately, it is not that simple.
Your local bank may charge you an Exchange Fee and will definitely charge you the “Spread”. The spread is basically the difference in the bank’s exchange rate versus the market’s rate. The market rate is what you are seeing on Google, or a currency converter app. The market rate is essentially the bank’s fee for purchasing currency and is rarely available to you. I won’t bore you with all the details about the “spread”, how to calculate it, and how the banks try and obscure this number, but just know that it will range between 8%-10%. This means that for every $100 you exchange, you will pay about $10 to obtain rupiah at your local bank.
I agree, this is a very high fee! However, many of the bank tellers don’t know what the spread is, how to calculate it, or what other hidden fees are involved in your transaction. Unfortunately, they just plug a number into their computer, and it gives them your resultant exchange amount. If you agree to this number, the bank teller will then “order” your rupiah (or any other desired foreign currency) after ‘paying’ them for the currency you want. Afterward, you return 1-3 business days later to pick up your foreign currency, since very few banks will actually have Indonesian rupiah on hand at the bank.
It can all be a little annoying, especially having to physically go to the bank multiple times. You may want to consider, though, exchanging a couple hundred dollars to have rupiah on hand when arriving in Bali. This can be beneficial when arriving late at night and all you want is to get to your hotel. At 1:00 a.m. you may not want to be bothered using an airport money changer to obtain cash in Bali. However, if you plan on using a taxi, or airport transfer to your hotel, you will have to pay for the ride, and 99% only accept cash.
TIP: Most taxi’s do not accept credit cards in Bali. I have only been in a few taxis that accept a credit card in Bali.
However, this isn’t necessary to do prior to arriving in Bali. You can exchange money here at the numerous money changers, even doing so before leaving the airport.
Can I Exchange Money in Bali?
There definitely is no shortage of Money changers in Bali. You can also exchange money within the airport, as well as most hotels. However, you will pay a small premium to do so.
Exchange rates are very good in Bali, often within a few hundred rupiah (less than $1 USD) of the advertised rates online. You won’t have the same problem with fees exchanging money in Bali as you do back in your home country. The advertised rate is what you get in return. Many money exchange locations do not charge extra commissions. Therefore, a simple calculation will tell you what you will receive in return.
Remember to always count your money yourself! Read this article: Bali Money Changer: How to Exchange Cash and Avoid Getting Ripped Off in Bali.
TIP: I would recommend downloading the XE Currency app for your phone. It gives updated currency rates every minute. This comes in handy when wanting to exchange money, or use the ATM. I use my app all the time.
Of course, your next option to obtain money for you Bali needs, is to use the ATM to obtain rupiah.
What Are the Best ATMs to Use in Bali?
There are many ATMs you can use while traveling in Bali. The most common ATMs from large banks you will find are:
- BCA (Bank Central Asia)
- BNI (Bank Negara Indonesia)
- BRI (Bank Rakyat Indonesia)
- Mandiri Bank
There are other foreign bank brand ATMs you will find to obtain money in Bali. However, I would stick to the large Indonesian brand banks listed above. Many of these ATMs are located at the banks and have security personnel. Also, many of these bank brands have well maintained stand-alone ATM centers. I, personally, prefer to use Mandiri ATMs simply because I know I can withdraw money without any fees.
Read this article on How to Use ATM’s in Bali, which goes into more detail about Bali ATMs and also discusses Fee Free ATM’s in Bali.
Also, you want to read How to Spot an Unsafe ATM and Check for Skimmers Using Your Phone.
TIP: Some banks, such as Mandiri and BNI, have security guards at their ATMs located at the bank. The presence of security personnel means it is less likely someone will tamper with the ATM.
Can I Use My Credit Card in Bali?
Yes, but not everywhere. Many businesses including hotels, most tourist-based restaurants and stores, as well as the larger grocery stores such as Pepitos, Grand Lucky, and Carrefour all accept credit cards. Many of the local restaurants (warungs) and convenience stores like Indomaret, Circle K and Alpha Mart do not accept credit cards.
Read this article on Top 100 Indonesian Words and Numbers to Know in Bali.
Visa and MasterCard are the credit cards you will need to use. Very few places will accept American Express. Expect to pay a 3% surcharge at many businesses for the convenience of using your credit card. When you present your card to the person you are paying, they will say “3% fee to use credit card”. This is very common in Bali, and not regulated in Indonesia. Therefore, don’t be surprised if you are presented with this fee while using your credit card.
TIP: When using your credit card you will have the choice to complete your transaction using Rupiah or USD (if using a USA based credit card). ALWAYS choose rupiah.
In addition to the 3% fee, you may charged another fee if you choose to have your transaction processed in your home country currency. When processing your credit card, many businesses will ask if you would like to complete the transaction using Rupiah or your home currency. Make sure you choose rupiah!
The exchange conversion from rupiah to your home country currency will cost you more than simply processing the transaction in rupiah. You can verify this by looking at the receipt that prints when they ask you this question. It will show the amount in rupiah and also another amount in your home currency. This will require a mental calculation of the exchange rate to your home country currency, or you can use a currency converter app.
The clerk may also ask if your card has a PIN. My credit card does not use a PIN, and yours probably doesn’t either if you are from the United States. Simply tell them “No PIN” and they will process without using a PIN. If you have a PIN associated with your credit card you can enter it at this point.
Can I Use My Debit Card in Bali?
Yes. However, the same rules apply as using a credit card. You need to have a Visa or MasterCard branded debit card. Plain, non-branded, ATM cards will not work when making purchases. Also, more than likely, you will not be able to use them at the ATMs.
Most hotels also will need a proper credit card and won’t accept debit cards. Contact the hotel ahead of time to find out if you want to use your debit card.
Can I Use Traveler’s Cheques in Bali?
Yes. However, you can only use them at the money changers. Many money changers will accept traveler’s checks, but the exchange rate will not be as good as using cash. You cannot use traveler’s checks as currency when making purchases in Bali.
How Much Money Can I Take to Bali?
You are allowed to enter Bali with up to 1 Billion rupiah in cash (Approximately $59,097.81 USD). So, entering Bali with any amount of money for your holiday vacation should not be a problem.
How Much Cash Should I Bring to Bali?
I would recommend traveling with at least a couple hundred dollars, in cash, from your home country, exchange it here in Bali, and then use ATMs for your other cash needs. This way you don’t need to constantly carry large sums of money, or leave cash in your resort or villa while out for the day.
TIP: Many hotels and AirBNB villas do not provide safes in the room.
Life in Bali
For many traveling to Bali you will find that many things cost much less than your home country. However, it is all relative. The average monthly wage for Indonesians, in Bali, is only 2-3 million rupiah per month. ($150-$200 USD or $200-$300 AUD).
Therefore, please don’t pull out large amounts of cash when making purchases, be discreet simply out of respect for their way of life.
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