Wednesday, August 12, 2015

Banks and Money Exchange in Indonesia

Indonesian rupiah has more zeroes and digits on its tail. You can easily be a millionaire in this country. Having any currency above $150 equals to millions in Indonesian rupiah.


With the confusion that comes from counting changes and subtracting the money needed to make your way through Indonesia and even on the central business district of Jakarta, having an advanced knowledge and keen eye on the exchange is a must.

A warning reached Westhill Consulting Travel and Tours on the current fraud happening in exchange stalls scattered around Jakarta. With a quick sight of hand and a good acting skill, any scammer can deceive foreigners in slacking some bills off of your money.

•              Beware of places where money changing is a secondary business. It may not be legitimate or they are doing a part time con on top of what they are earning.

•              Indonesian rupiah is composed of IDR1000, 2,000, 5,000, 10,000, 20,000, and 50,000, and Rp 100,000. Always ask for a bigger note. One of the scammers’ tactics is to confuse you by making you count bundles of 2,000 unless you are very sharp.

•              Start to wonder if there are two people at the counter. The other may be talking to you and being friendly while the other is counting your money. This may be another scam to confuse you and take your concentration away from the money. If this happens, just politely ask the one talking to leave you alone since you have to give 100% attention on you money.

•              The exchange person will give you a bundle of calculated notes to be counted by you. Count the notes carefully and bundle them in the order you calculated but don't mix them up just yet. Keep the notes closer to you once you have counted correctly. If the guy proceeds to take the entire bundle back to re-count, stop him and do the counting yourself. If he insists, don't waste your time. Walk away with your foreign notes. Because he is going to take some money off until you give in. 

•              If the guy pulls out a load of smaller 10,000 or 20,000 notes, just walk away as it is just going to be a guaranteed con.

Never let the money leave your sight while it is countered and checked, or you could find the total shorter when it comes back. Everyone should just be cautious and keen in doing their business.

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