Are there any fees for exchanging currency in Indonesia?

Yes, there can be fees associated with exchanging currency in Indonesia, depending on where and how you exchange your money. Authorized money changers typically offer competitive exchange rates without charging a separate transaction fee. However, the rates may vary, so it’s a good idea to compare a few before making a decision. Here are some tips for exchanging currency in Indonesia

1. Familiarise yourself with the mid-market rate before your vacation

The real exchange rate, free of deceptive hidden costs, is the mid-market rate. Make sure you obtain a fair rate when you purchase your travel money by using an online currency converter before your trip to get a sense of how much your money is worth.

2. When withdrawing from ATMs, opt to have your money charged in Indonesian currency.

Being offered to let you pay in your own currency leads many visitors to pay more than they need to. Always opt to pay in the local currency, which is rupiah in this instance, in order to save money and get the greatest deals.

3. Avoid changing currency at hotels or airports

Airport and hotel currency exchange bureaus frequently mark up the exchange rates they use and may charge additional costs. Steer clear of this costly alternative whenever possible.