Those too-good-to-be-true exchange deals you are offered by the backstreet moneychangers in Bali will probably be just that…a rip-off.
The state news agency Antara reports that 40% of the moneychangers operating in Bali do not hold the required permits issued by Bank Indonesia and as such are illegal.
Unlicensed money changers, often down a side street or operating from the back of a shop, are the cause of frequent complaints from tourists who claim they get short-changed by the illegals traders.
Bali Update (www.balidiscovery.com) recommends that visitors exchange money at banks or moneychangers displaying the membership logo of the APVA.
