In Reply to: banks? posted by drb on Saturday, 31. May 2008 at 15:13 Bali Time:
Previously we have put all our spending money onto my credit card, and used the ATM's to draw out cash. We made sure that there was always surplus on the credit card, because if you draw out cash as credit you will get charged interest the next day. there is no interest free period on cash advances. If you have a credit limit of $1000 and you put $2000 onto it for expample, you will have no problems if your balance is always above $1000. We did find that we were charged $2.50 to $5 fees for every withdrawal, and you never really know what the exchange rate is at your bank on the day.
This year we took all our spending money in cash, and kept it in our room safe. We changed the money as we needed it, ussually about $100 per day, depending what we were doing or spending.
There are money changers all over the place, but nearly always use the Kodak shops who we have never had any problems with at all. We found the exchange rates were slightly better than our banks and didnt have to pay fees.
They have a calculator on their counter and you can use it to work out how much you should get. They welcome you to count the money before you leave the shop and if you find a problem they will fix it.
We always counted the money and never had a problem.
Some places show much better exchange rates than the kodak shops and other legitimate changers, but they are the ones that ussually try to rip you off.
Change large notes and a lot of the time you get a slightly better rate.
Talk to other guests at your hotel as soon as you can, as you will make some great freinds and they will be only too happy to show you around and help you out.
Hope you have a great time and wish i was going too. hehe
Mark