Opening a bank account in Bali

**Bert Vierstra** · 14-06-2007, 11:11 AM

Its not uncommon to do that.

I guess you have met the Notary, and have put these these things on paper?

O · 14-06-2007, 04:49 PM

OK that's reassuring, I did meet the notary but still have to do the paper work.

**Bert Vierstra** · 14-06-2007, 05:25 PM

I suggest a letter of intend or something, where you state the procedures, and have this legalized by the notary.

Take care of currency exchange rates etc when transferring...

O · 15-06-2007, 10:17 AM

Thanks for the tip. I was told it's better to transfert money -in my case from the US- to a dollar account here in Bali and then do the exchange localy, regardless of the daily fluctuation.

**Petenjo** · 15-06-2007, 05:11 PM

When I've moved large sums of $$ into Indo, I have found it most cost effective to TT it into either my $US or $AUD account ($35 TT cost) and negotiate the exchange rate with the bank - I bank with Bii and their daily listed exchange rates are definately negotiable if changing reasonably large amounts, and getting an extra point here and there on the daily rate can add up to several large nights out at Warisan/Living Room - definately worth the effort!!

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