MiSO
A first impression of exchanging money by:
MmmiSo...
Today I exchanged money for the first time since I have been on Bali. It was quite an experience…
Before my bicycle-ride to the money changer a friend sent me a text message that the rate was only 9300RPS / for 1 USD. So I was aiming at around 9300RPS. On my way to this reliable money changer, I saw 3 money changers with a higher rate, so I took my chance.
In Euro the rate was around 13.400 RPS for 1 Euro.
Money changer no. 1 offered me 14.200. A young guy did the transaction, but I didn’t trust him: his eyes were half closed and he didn’t look in my eyes. He could only exchange 100 Euro with 20.000 RPS, but I said it was too small. When I wanted to leave he said he also had 50.000. so it was fine with me.
He made 2 sets of 10x 50.000, 1 set of 6x 50.000, 1 set of 5 x 20.000, 1 x 20.00
500.000
500.000
300.000
100.000
20.000
He counted, than I checked and wrote it down, I also used the calculator (I know myself, I am a money-dummy)
Than he counted again, and I felt like checking again, so I did. After I had checked I said to him not to touch the money again because I got confused. But he did it anyway. And when I checked for the 3rd time, I missed 300.000 RPS (6x 50.000)
I thought I had made a mistake but when I looked at his face I immediately knew he had been cheating. I have no idea how he did it, because my 2 pairs of eyes (…for this special occasion I wore my glasses…) were focused on his hands, but I had seen nothing, nothing at all! Anyway, I said his business was not ok, and already standing outside I kept repeating this. He crossed the street, came back and went to an other shop.
Mr. Money changer no. 2 asked 10% commission.
Mr. Money changer no. 3 had only 20.000 RPS to exchange. It was pretty late, so I agreed on this. I had had a warming-up before anyway, so I felt pretty confident :wink:
I asked his friend to go outside because it felt like 2 against 1 and his eyes were too much on my bag & wallet.
I took a piece of paper and a pen, and asked him a calculator.
Then he said quickly: Oh, I don’t have enough money ...haha… :lol:
For 200 Euro he had enough money, but now for 100 Euro he was out of Rups…haha… I guess I looked too professional …
Mr. Money Changer no. 4 across Bintang supermarket in Seminyak:
13.200 RPS/1 Euro, a slightly lower rate but he gave me 100.000’s and we had a chat. He even accepted 10 and 5 Euro’s. Giving me a handkiss and calling me ‘honey’ was a bit too much though… but I am getting used to Balinese forwardness more and more…
Back on the bicycle I felt disappointed about the whole situation. Why is it so difficult to do honoust business? Don’t tell me it’s out of poverty, because it’s not. I think it’s a matter of mentality. I guess I was lucky when exchanging money in other Asian countries.
Ok, enough rambling…
[b]For the newbies[/b]:
When the exchanger offers you to exchange in 20.000 (and even in 50.000) be warned.
They use small money to confuse you, because mistakes are easier made.
Also check, double-check, triple-check. Make sets, and when needed: write it down. And always, always be the last person who touches the money before taking.
And when the rate is higher than the neigbour exchangers…well, it makes you think…
Your tips and tricks are welcome. A bit of education on this can’t hurt.
Nakal
My tip:
For the ones who are not good at counting/calculating from your mind but need a calculator.... do not ever use the calculator of the money changer. Use your phone if you are not good with numbers
Why? Some of them use programmed pocket calculators end the end result after calculating will always be a certain percentage less than what it should be.
For example if the want to change EUR 100,00 and the exchange rate is Rp13500 for a euro the calculator will probably be set to the end result of Rp1.280.000 instead of Rp1.350.000.
You can try what you want on his pocket calculator the result will be the same whatever you try.
Luckily I'm good with numbers and noticed it immediately but if you are in the holiday spirit and don't pay attention you will easily loose money on it.
That's my tip :mrgreen:
noodles
Till now, when I return again to that day changer money on the main street in Seminyak area(four month ago)because it was so dreadful...almost same stories with above, Suppose as Indonesian ashamed for what had happened here. :evil:
MiSO
Noodles, I don't know if they have a bit of shame in their *rse... I don't think so, otherwise they could never do what they do.
Nakal, huh...manipulated calculators...? Wow...
PS.
A guy just told me that they drop the money on the floor (behind the counter) when they are counting for the last time.
MiSO
[quote=Markit]Anybody that has anything to do with "moneychangers" deserves what they get! Or don't get, more to the point :cry:
Sorry but the whole business plan is based on the ripoff concept. Don't go there.
....
Use your brains not your balls, they aint near so big as you think. :roll:[/quote]
:)
Sometimes exchanging money has its pros Markit. Changing money is when a" worst scenario" appears.
Btw, you have no idea how big my balls are...
noodles
[quote=Markit]Use your brains not your balls, they aint near so big as you think. [/quote]
Theoretically, lady shouldnt be regarded as balls.
Markit
Anybody that has anything to do with "moneychangers" deserves what they get! Or don't get, more to the point :cry:
Sorry but the whole business plan is based on the ripoff concept. Don't go there.
What else should I do when I need money? I hear the question?
Well, for starters anybody that travels in a foreign country with large amounts of cash is looking to become a statistic in some policeman's notebook - fact!
Anybody that goes to a moneychanger is in the same league. You think they don't take note of who you are and if they want to have you followed home then they know that too.
Deposit money in your credit card account at home and draw down on it at any ATM - usually a good rate of exchange and safe as houses and if you are in plus some cc don't even charge for the transactions.
Don't have a credit card? Use travellers checks.
You can now open a perfectly legal account at BNI in your name with no Kitas - fact! Do it and get money transferred or at least deposit your cash there.
Use your brains not your balls, they aint near so big as you think. :roll:
motormouth
Talking of money changers, why do we need 16 ,yes that's right, 16 money changers as we leave the arrivals hall at the airport here. There are 14 all in a row , with 2 outside. I got back from a day in Singapore last night, as I walked past they were all waving through the window as usual. I told the ones who looked at me that they were all gila...it looks like a scene from a mental institution for first time arrivals here, all hanging out their booths ,give me your foreign cash...please.That's no disrespect for the rupiah...which has outperformed a lot of usually stronger Asian currencies recently.
spicyayam
Speaking of the money changers at the airport, this is an interesting story also:
http://www.thebalitimes.com/2009/11/27/ ... -3-2009-4/
MiSO
[quote=motormouth]Talking of money changers, why do we need 16 ,yes that's right, 16 money changers as we leave the arrivals hall at the airport here. There are 14 all in a row , with 2 outside. I got back from a day in Singapore last night, as I walked past they were all waving through the window as usual. [b]I told the ones who looked at me that they were all gila...it looks like a scene from a mental institution for first time arrivals here, all hanging out their booths [/b],give me your foreign cash...please.That's no disrespect for the rupiah...which has outperformed a lot of usually stronger Asian currencies recently.[/quote]
:)
Yeah, some places have monkeys behind windows, or 'nutty' people, other places have women behind windows in red light districts, and the airport here has money changers... seek for differences...
You actually counted the money changers at the airport...? :D
[quote=noodles][quote=Markit]Use your brains not your balls, they aint near so big as you think. [/quote]
Theoretically, lady shouldnt be regarded as balls.[/quote]
Y'know, in Portugal we say "mulheres com tomates" (women with tomatos) as in 'women with balls'...
Spicyayam, I nodded when reading the Bali-post article... unbelievable...
motormouth
MiSO, I know it sounds lame , but I did count the money changers.I come through the airport @ 8-9 times per year and I always think there are too many...so I counted them.Singapore has @ 23million visitors per year and only has 2 money changers in each terminal. Good old Bali has @ 2million visitors a year with 16 money changers....a little over the top :D :D :D . Hey, scantily clad girls hanging out of windows seems better to me :D
MiSO
Ah...oh.. ohke...
Markit
[quote=MiSO] Sometimes exchanging money has its pros Markit. Changing money is when a" worst scenario" appears.
Btw, you have no idea how big my balls are...[/quote]
If changing money is a "worst (case) scenario" then you've planned for it by bringing the cash in the first place or do I see that wrong?
In which case you've planned for the worst case scenario so you could just as easily and much more safely have planned for it by depositing your dosh on the credit card???
As to the last part of your comment, well a picture speaks a 1000 words there Miso lol :lol:
JohnnyCool
Not [b]all[/b] money changers are robbers, but there are a lot of them.
I rarely use them myself preferring to use ATMs (not always "risk-free" either). I know of a group of money changers in Sanur that are dishonest. I know this because I got ripped off more than once and I don't regard myself as "green". I also know of totally honest ones.
Some early warning signs are things like too-good-to-true exchange rates, walking inside and being told the rates posted outside haven't been updated yet. The current rates are different.
Sleight of hand techniques are common and it doesn't matter how good one's eyesight is, the hand [i]can[/i] be quicker than the eye.
Counting and recounting doesn't always work because of the money "dropping out of sight" momentarily. If the exchanged money physically leaves your sight for any "reason" or any length of time, count it again.
The rigged calculator scamming is not unusual. Use your own.
[i]Some[/i] Indonesians rig their weighing scales with magnets when you're buying fish, for example, or anything that can be weighed. Finding more little stones/rocks in your raw rice than usual is another scam.
I read "Borje's" letter of complaint in [i]The Bali Post[/i], (link posted by Admin above).
Anybody who gets pushed around and intimidated by "airport porters" upon arrival in a new country, to the point of changing [b]$800[/b] in the process, and paying several porters [i]Rp[/i] 200,000 each, shouldn't be travelling. Or, at the very least, read a copy of [i]"Travelling For Idiots"[/i] first.
It's a real shame that the airport authorities don't put a stop to these kinds of rip-offs. I wonder what they're waiting for?
Perhaps [i]The Bali Tourism Board[/i] should get off its fat backside and look into issues like these. Printing pretty-looking media like "[i]Hello Bali Magazine[/i]" is nowhere near enough.
And while they're at it, maybe they could remove all the retired Legong-dancers flogging "free-hold" properties in Bali upon arrival at the airport.
:shock:
MiSO
***
MiSO
[quote=Markit][quote=MiSO] Sometimes exchanging money has its pros Markit. Changing money is when a" worst scenario" appears.
Btw, you have no idea how big my balls are...[/quote]
If changing money is a "worst (case) scenario" then you've planned for it by bringing the cash in the first place or do I see that wrong?
In which case you've planned for the worst case scenario so you could just as easily and much more safely have planned for it by depositing your dosh on the credit card???
As to the last part of your comment, well a picture speaks a 1000 words there Miso lol :lol:[/quote]
Yes Mmmarkit, you see it wrong... :D It's always handy to have a bit of cash in the pockets. In case you're the most stupid chicken in Asia. Sometimes you need a plan C & D. E & F. But then, having a plan D & F makes you a little less stupid chicken...
Haha..you need visuals? Haha...you just wait and see...hahaha...
[quote=JohnnyCool]
I read "Borje's" letter of complaint in [i]The Bali Post[/i], (link posted by Admin above).
Anybody who gets pushed around and intimidated by "airport porters" upon arrival in a new country, to the point of changing [b]$800[/b] in the process, and paying several porters [i]Rp[/i] 200,000 each, shouldn't be travelling. Or, at the very least, read a copy of [i]"Travelling For Idiots"[/i] first.
It's a real shame that the airport authorities don't put a stop to these kinds of rip-offs. I wonder what they're waiting for?
[/quote]
Well..he didn't know he was a porter, he only saw a man in uniform, and that's quite intimidating when you don't know the grey rules of a country you're not familiar with.
I don't think you can blame the man, it is a shame he was put in this situation. And like you said: there is this responsability of the airport authority...
motormouth
Johnny Cool, I loved the comment about retired legong dancers, had me laughing for ages :D :D :D
