The banking system of Indonesia originated in 1746 and is well developed. The Central Bank - "Bank of Indonesia" regulates the sector from 5 state and 94 private regional banking institutions. In addition, there are 11 branches of foreign banks in the country.

Exchange of money is not difficult in the offices of banks, exchange offices that have a license, and informal exchangers located everywhere in tourist places (in shops, hotels, markets). Indonesian rupees are also can be withdrawn from ATMs. Cards of Russian banks are available, but there are restrictions on one-time issuance (usually 1-2.5 million rupees) and commissions.

Banks of Indonesia

"Bank Mandiri" became the largest in the country after the merger of four state-owned banks in 1999. It owns a quarter of the state's banking assets.

After Mandiri Bank in the ranking of leaders are located:

• BRI (Bank Rakyat Indonesia). Belongs to the government. Created in the 19th century, branches throughout the archipelago;
• BCA (Bank Central Asia). At the third place in the country by assets;
• BNI (Bank Negara Indonesia). Government financial institution with offices in the US, Japan, UK and Southeast Asia;
• Pembangunan Daerah Bali. Regional, belongs to the government of the province of Bali;
• HSBC (PT Bank HSBC Indonesia). A large bank of the British financial group HSBC with mixed capital;
• Bank CIMB Niaga. Regional actively developing bank.

Banks of Indonesia with a developed network of branches, exchangers and ATMs

In all major cities there are branches of 7-10 main banks, and on the popular islands of Bali, Sumatra, and capital Java, the representation of banks is much wider.

Mandiri Bank has more than 1,700 branches throughout Indonesia and 6 branches abroad. Its blue kiosks for exchange and ATMs are in cities at every step.

In Bali are also popular branches of BRI and BNI. The regional Balinese PDB has more than 50 offices on the island. In Jakarta and throughout Java, as well as in Sumatra and Kalimantan, except Mandiri, BCA is the most widely represented bank.

Bank branches everywhere serve customers from 8 (9) to 15 (17) hours, on Friday they work only in the morning (Indonesia is a Muslim country), on Saturday and Sunday are closed.

A more flexible schedule is usually in exchange offices. At the resorts of Bali (in Kut, Nusa Dua, Ubud, Jimbaran) they are opened until 9-10 pm.

In which exchangers it is better to change money

At resorts in Indonesia there is always a temptation to exchange currency in the hotel or a street exchanger next to it – there are lots of offers. Moneychangers attract tourists with an overvalued rate, and as a result they cheat - come up with commissions, slice.

Exchange without risk is in points belonging to banks or independent, but working officially with state license (authorized money changer). Exchanges of banks always have a corresponding sign.

In Bali, exchange kiosks are located not only on the streets, but also in well-known hotels.

On Lombok, there are more of them in the capital - Mataram, several are located near the popular beach of Sengigi. On the small islands of Gili there are no bank branches, but more than a dozen ATMs.

The subtleties of exchange

It is officially forbidden to pay by foreign currency in Indonesia. However at popular resorts it is possible to pay by cash dollars, euros, the currency of other Asian countries for hotel rooms, excursions.

At the same time, the calculation of the rate is extremely unprofitable. Paying by card in many places entails an additional commission. Therefore, experienced tourists and those who live in Bali for a long time, advice to come to the country with US dollars, euros and convert them into rupees. At an exchange it is necessary to be ready for:

• for the old, crumpled denominations the rate will be lower, and the ragged ones will not accept at all;
• banknotes of $ 50 and $ 100 are more profitable to change than the banknotes to $ 20;
• problems can be arise with the reception of US dollars until the year 2000.

How to find out which bank has the most profitable exchange rate

Banks of Indonesia publish courses for currency transactions on their websites. However the rates for buying and selling currencies change several times a day. It takes time and good knowledge of English to search information.

It is easier to take data on the value of the US dollar, euro, pound of Great Britain on Exradar. Go to the comparison page and see where it is best to change money at the moment. The information on our website is updated in real time.