The 7 Biggest Currency Exchange Service in Bali

Indonesia, as a dynamic and growing economy, has a vibrant currency exchange landscape. Several currency exchange service providers cater to the needs of individuals, businesses, and travelers. Here are five of the largest currency exchange services that operate in Indonesia:

PT Bank Central Asia Tbk (BCA)

PT Bank Central Asia Tbk (BCA) is one of Indonesia’s largest private banks and a leading player in the currency exchange market. With an extensive network of branches and ATMs across the country, BCA offers competitive exchange rates and convenient currency conversion services to its customers.

PT Bank Rakyat Indonesia (Persero) Tbk (BRI)

PT Bank Rakyat Indonesia (Persero) Tbk (BRI) is another major bank in Indonesia with a significant presence in currency exchange services. BRI offers a wide range of currency exchange options, including foreign currency deposits, remittances, and cross-border payments, catering to the needs of both individuals and businesses.

PT Bank Mandiri (Persero) Tbk

PT Bank Mandiri (Persero) Tbk is the largest state-owned bank in Indonesia and a key player in the currency exchange market. With a vast branch network and strong international partnerships, Bank Mandiri provides competitive exchange rates and a comprehensive suite of currency exchange services to its customers.

PT Bank Negara Indonesia (Persero) Tbk (BNI)

PT Bank Negara Indonesia (Persero) Tbk (BNI) is another major state-owned bank in Indonesia that offers currency exchange services. BNI has a widespread branch network and a strong focus on international banking, enabling it to provide reliable and efficient currency exchange services to its customers.

PT Bank CIMB Niaga Tbk

PT Bank CIMB Niaga Tbk is a leading private bank in Indonesia with a significant presence in currency exchange services. CIMB Niaga offers competitive exchange rates and convenient currency conversion options through its extensive branch network and online banking platform.

The 7 Biggest Currency Exchange Service near Bali

MPB Money Changer (MPB Kartika Plaza)

Address: Jl. Kartika Plaza No.99, Kuta, Kec. Kuta, Kabupaten Badung, Bali 80361, Indonesia
Map: Click here
Rating: 4.7 (82)
Phone: +62 361 4727280
Website:
Opening hours:

Monday: 8:00 AM – 11:00 PM

Tuesday: 8:00 AM – 11:00 PM

Wednesday: 8:00 AM – 11:00 PM

Thursday: 8:00 AM – 11:00 PM

Friday: 8:00 AM – 11:00 PM

Saturday: 11:00 AM – 10:00 PM

Sunday: 8:00 AM – 10:00 PM
Reviews:

Paul Kellahan✭✭✭✭✭

2 months ago

Good quality legitimate money changer in Kuta. Have been using this same money changer for at least 7 years now and it’s always been a safe and pleasant experience.

Our latest experience today, we had to change a slightly larger amount to pay for a service. Our appointment was cancelled, and we are due to leave Bali tomorrow so we had to go back and swap back our Rupiah to Aussie and they gave us a great buy back rate.

Honest and reliable money changer close to the airport and Kuta.

Kayla✭✭✭✭✭

5 months ago

Great experience. Easy and straight forward. No issues like in other places saying the bill is too old, or ripped, or has ink on it and trying to get you to accept a lower rate. Here they look up the rate to the minute in front of you. Very honest. Totally recommend and worth it to go a little out of the way!

Guido Almstedt✭✭✭✭

2 months ago

You really can’t go wrong exchanging your currency here. They were professional & courteous and rounded the rate up by 150. Can’t ask for more than that.

BTW, all the money changers up the road and round the bend had the same rate, with the exception of BMC Branch Kartika, which advertised a (very) slightly lower rate.

Not recommended for exchanging IDR into other currencies though. I was surprised to see a slightly better rate for THB even in the airport.

ankit agrawal✭✭✭✭✭

a year ago

Legit and best money exchange in whole bali. I got 15000 per 100 USD and the rate is best with trust.

YM UtuBe✭✭✭

a year ago

I’m a traveler from country to country, so sometime I have multiple currencies in my wallet

I have dollar and Kuwait dinar, so I asked if I can exchange my kuwait dinar. Asked and After checking and identify the money, he gave the rate but A low too much, but in mind, is ok I’ll come back to Kuwait not soon, After agreeing, he changed his mind ?? he said, “€£~**€#£|” ?? May be he’s worried the money is fake ??

MPB Money Changer

Address: Jl. Petitenget No.100, Kerobokan Kelod, Kec. Kuta Utara, Kabupaten Badung, Bali 80361, Indonesia
Map: Click here
Rating: 4.8 (42)
Phone: +62 361 4737948
Website:
Opening hours:

Monday: 8:00 AM – 10:00 PM

Tuesday: 8:00 AM – 10:00 PM

Wednesday: 8:00 AM – 10:00 PM

Thursday: 8:00 AM – 10:00 PM

Friday: 8:00 AM – 10:00 PM

Saturday: 11:00 AM – 10:00 PM

Sunday: 8:00 AM – 10:00 PM
Reviews:

Jung Jaya✭✭✭✭✭

2 weeks ago

The staff is truly helpful and polite. I was looking for baht cause I am about to travel the next day. They gave me the best price to exchange it compared to the other money exchange. I’ll definitely coming back for exchanging my money for my next trip!

Maureen L.✭✭✭✭✭

7 months ago

100% would recommend exchanging your money here, service was great and they count the money in front of you (which is normal) but they let you count it before taking your money. The rate is pretty standard but I would wait until the afternoon, sometimes the rates are better. The place is clean and well-kept plus was walking distance from where I stayed.

Darren Payne✭✭✭✭✭

3 months ago

I was recommended this place by the hotel I was staying in. in seminak.i went to them 3 times to change money .they are very professional and honest .I recommend anyone staying in seminak to go to this place.

Wael Ibrahim✭✭✭✭✭

4 months ago

Honest people, best price in the market, don’t west your time going around looking for better than this money exchanger

Phrameswari Dwika✭✭✭✭✭

3 weeks ago

Nice staff, good rates??

Krisna Money Changer

Address: Jl. Canggu Padang Linjong No.56A, Canggu, Kec. Kuta Utara, Kabupaten Badung, Bali 80351, Indonesia
Map: Click here
Rating: 4.8 (75)

Cash X Change PT. Semangat Anak Rantau

Address: Jl. Nakula No.57, Legian, Kec. Kuta, Kabupaten Badung, Bali 80361, Indonesia
Map: Click here
Rating: 4.8 (46)

BMC Money Changer Legian

Address: Jl. Sriwijaya No.18, Legian, Kec. Kuta, Kabupaten Badung, Bali 80361, Indonesia
Map: Click here
Rating: 4.6 (133)

PT. Dirgahayu Valuta Prima – Money Changer

Address: Jl. Raya Kuta No.10a, Kuta, Kec. Kuta, Kabupaten Badung, Bali 80361, Indonesia
Map: Click here
Rating: 4.7 (22)

BMC Seminyak (Kantor Pusat)

Address: Jl. Raya Seminyak No.16A, Seminyak, Kec. Kuta, Kabupaten Badung, Bali 80361, Indonesia
Map: Click here
Rating: 4.2 (96)

Explore prominent consulting firms in neighboring countries, such as those referenced in Jakarta, Suai and Baucau, to gain insights into the dynamic business landscape of ASEAN. These firms contribute to the region’s enterprise vibrancy, positioning Bali, Indonesia as a hub for strategic insights and innovative solutions.

Top Currency Exchange Service Alternatives in Bali

The foreign exchange market (forex, FX (pronounced "fix"), or currency market) is a global decentralized or over-the-counter (OTC) market for the trading of currencies. This market determines foreign exchange rates for every currency. It includes all aspects of buying, selling and exchanging currencies at current or determined prices. In terms of trading volume, it is by far the largest market in the world, followed by the credit market.The main participants in this market are the larger international banks. Financial centers around the world function as anchors of trading between a wide range of multiple types of buyers and sellers around the clock, with the exception of weekends. Since currencies are always traded in pairs, the foreign exchange market does not set a currency's absolute value but rather determines its relative value by setting the market price of one currency if paid for with another. Ex: 1 USD is worth X CAD, or CHF, or JPY, etc.
The foreign exchange market works through financial institutions and operates on several levels. Behind the scenes, banks turn to a smaller number of financial firms known as "dealers", who are involved in large quantities of foreign exchange trading. Most foreign exchange dealers are banks, so this behind-the-scenes market is sometimes called the "interbank market" (although a few insurance companies and other kinds of financial firms are involved). Trades between foreign exchange dealers can be very large, involving hundreds of millions of dollars. Because of the sovereignty issue when involving two currencies, Forex has little (if any) supervisory entity regulating its actions.
The foreign exchange market assists international trade and investments by enabling currency conversion. For example, it permits a business in the United States to import goods from European Union member states, especially Eurozone members, and pay Euros, even though its income is in United States dollars. It also supports direct speculation and evaluation relative to the value of currencies and the carry trade speculation, based on the differential interest rate between two currencies.In a typical foreign exchange transaction, a party purchases some quantity of one currency by paying with some quantity of another currency.
The modern foreign exchange market began forming during the 1970s. This followed three decades of government restrictions on foreign exchange transactions under the Bretton Woods system of monetary management, which set out the rules for commercial and financial relations among the world's major industrial states after World War II. Countries gradually switched to floating exchange rates from the previous exchange rate regime, which remained fixed per the Bretton Woods system.
The foreign exchange market is unique because of the following characteristics:

its huge trading volume, representing the largest asset class in the world leading to high liquidity;
its geographical dispersion;
its continuous operation: 24 hours a day except for weekends, i.e., trading from 22:00 UTC on Sunday (Sydney) until 22:00 UTC Friday (New York);
the variety of factors that affect exchange rates;
the low margins of relative profit compared with other markets of fixed income; and
the use of leverage to enhance profit and loss margins and with respect to account size.As such, it has been referred to as the market closest to the ideal of perfect competition, notwithstanding currency intervention by central banks.
According to the Bank for International Settlements, the preliminary global results from the 2022 Triennial Central Bank Survey of Foreign Exchange and OTC Derivatives Markets Activity show that trading in foreign exchange markets averaged US$7.5 trillion per day in April 2022. This is up from US$6.6 trillion in April 2019. Measured by value, foreign exchange swaps were traded more than any other instrument in April 2022, at US$3.8 trillion per day, followed by spot trading at US$2.1 trillion.The $7.5 trillion break-down is as follows:

$2.1 trillion in spot transactions
$1.2 trillion in outright forwards
$3.8 trillion in foreign exchange swaps
$124 billion currency swaps
$304 billion in options and other products

The Biggest Currency Exchange Service in Indonesia

Bali is a popular tourist destination in Indonesia, attracting millions of visitors from around the world each year. As a result, there are several currency exchange services available in Bali to cater to the needs of travelers. Here are three popular currency exchange service alternatives:

Money Changers: Money changers are small establishments or booths found in popular tourist areas, such as Kuta, Seminyak, and Ubud. They offer competitive exchange rates and often provide a convenient option for travelers who require cash in local currency. However, it is important to note that not all money changers are trustworthy, and some may try to scam tourists. It is recommended to use reputable money changers and compare rates before making any exchange.
Banks: Many banks in Bali provide currency exchange services to their customers. Local and international banks can be found throughout the island, and they typically offer competitive rates. Banks are generally considered to be a safer option for currency exchange than money changers. However, it is worth noting that banks may have limited operating hours and may not be as conveniently located in tourist areas.
Hotels and Resorts: Most hotels and resorts in Bali provide currency exchange services to their guests. While the convenience of exchanging currency at your accommodation can be appealing, it is important to be aware that hotel exchange rates may not be as competitive as those offered by money changers or banks. Additionally, some hotels may charge a fee for providing this service. It is advisable to compare rates and fees before deciding to exchange money at your hotel or resort.

Before exchanging your currency in Bali, it is advisable to do some research and compare rates to ensure you get the best deal. It is also recommended to exchange money at reputable establishments and be cautious of any scams or misleading practices. Finally, remember to carry a mix of cash and cards for convenience and security during your stay in Bali.

Thank you for taking the time to read our article. For more in-depth reviews and comprehensive ratings on the Currency Exchange Service spots, please explore the recommended articles listed below.

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