In Reply to: Money Excange posted by Sweetbelle on Tuesday, 4. September 2012 at 07:31 Bali Time:
Basically 4 choices
1. Credit Cards...usually OK for hotels or major stores and restaurants but not for Fred's Warung down the lane.
2. ATM cards....Fair rates and secure. However check what your bank charges for use. NAB charges $A4 per transaction., so if you draw out 1 million Rp (sounds a lot but only $A100) you are charged the 4 dollars, hence effective exchange rate 4% lower.
3. Debit cards....you put your cash onto a card which you debit in an ATM. Usually no charge so can talk to your bank.
4. Cash....I usually take majority in cash. Good if you know the ropes. Some very underhand changers out there. Always count the money offered even if you think you've watched the changer's count. Use a place that has a "no commission" sign; have known changers to try to charge 20%. Anyone who touches the money after you've counted it suspicious. Often try to palm a few notes or flip them onto the floor.
I always prefer a place with a counter and glass screen that specialises in nothing else rather than a shopkeeper behind his till.
Plenty more scams available but above should cover most.