For tourists or newcomers to Indonesia, itโs important to know the places where you can exchange money to the official currency in Indonesia, Rupiah. Not only itโs always worth shopping around in the country, but itโs likely that youโll get a better exchange rate if you exchange your cash once you arrive in Indonesia, since rupiah might not be carried by your local exchange bureau (depending on where you are in the world).
Itโs generally easy to exchange money in Jakarta. You can exchange money in the bank or international money changer chains, but the rates can be steep. Money changer shops in Jakarta are mostly located in commercial areas and inside shopping malls, so it is very convenient for tourists and newcomers.
Legit money changers are accredited by the Indonesian monetary authorities as Pedagang Valuta Asing Berizin or PVA Berizin (Indonesian for โAuthorized Money Changerโ. PVA Berizin members have a Bank Indonesia hologram and a PVA Berizin green shield logo in the shop window.
Here are some tips of exchanging currency in Indonesia:
Avoid exchanging in the airport or hotels
Unless you really need some cash immediately when you land, avoid exchanging your cash in the airport. The exchange rates offered at airports (and hotels) are often poor. Itโs better to look for money changers in town where competition drives a better deal for the customers.
Donโt be deceived by the โno feesโ or โzero commissionโ label
To attract customers, money changers often place โno feesโ or โzero commissionโ label on the desk or in front of their shops. However, theyโre running a business, means that theyโre also looking for profit. Zero commission or fees usually means that the money changer sneak in their gain through offering you a poorer exchange rate.
There are some common scams when exchanging money in Indonesia. One is to simply not mention a commission charge, or to advertise an exchange rate which is only available on larger transactions. Make sure you know what youโre getting before you enter the shop.
The banknotes of Indonesian Rupiah (IDR) are issued in denominations of Rp100,000, Rp50,000, Rp20,000, Rp10,000, Rp5,000, and Rp2,000. Coins are available in Rp100, Rp200, Rp500, and Rp1,000.
Check the money changerโs advertised rates first, and then use your own calculator to figure out the result versus the amount you wish to exchange. Usually, the money changer will use their own calculator to figure out the amount of Rupiah to be exchanged, and the resulting figure will be shown to you. Thatโs why itโs important to calculate the rate yourself.
Bring fresh, undamaged larger banknotes to the money changer
If youโre carrying cash to Indonesia to exchange, then make sure that you only bring clean and crisp banknotes. Generally, money changers prefer larger bills with some even offering better rates for higher denominations). Any ripped, creased, or marked banknotes are likely to be rejected, or will be charged a lower exchange rate.
We have compiled the recommended money changers in Jakarta where you can exchange your currency with competitive rates:
VIP (Valuta Inti Prima)
VIP Money Changer has been a leading foreign exchange dealer in Jakarta since 1995. VIP Money offers highly competitive foreign exchange rate. They also remit most major currencies to all over the world with simple and affordable services. It is also so conveniently located in Menteng, one of the busiest and most easy-to-access areas in the city.
Address:
Jalan Menteng Raya No 23, Central Jakarta
Phone 021-31907777, 3904444
Opening hours: Monday to Friday 08.30-17.00
Daily rates can be checked at https://www.vip.co.id/en/
Dua Sisi
Dua Sisi Money Changer has been operating since 1994. There are at least around 20 currencies that can be exchanged at Dua Sisi, from US Dollar to Vietnam Dong. Dua Sisiโs branches are located in strategic shopping malls so itโs very convenient for those who wish to exchange their currency. Not only in Jakarta, Dua Sisi also has branches in Surabaya, East Java.
Locations:
- Plaza Senayan Lifestyle Level, Jalan Asia Afrika No 8 Central Jakarta
Phone 021-5725321, 5725408 - Senayan City Level 1/112C, Jalan Asia Afrika Lot 19, Central Jakarta
Phone 021-72781155, 72781156 - Plaza Indonesia LB No 53, Jalan MH Thamrin Central Jakarta
Phone 021-3906051, 3107615 - Grand Indonesia East Mall, Lower Ground #23, Jalam MH Thamrin Central Jakarta
Phone 021-23581213, 23581214 - Pacific Place, Lower Ground #12, Jalan Jenderal Sudirman Kav 52-53 South Jakarta
Phone 021-57973825
Website: http://www.duasisimoneychanger.co.id/
Dolarindo
This authorized money changer offers currency exchange and money transfer services. There is also delivery service for regular customersโall is guaranteed safe. There are 25 currencies that can be exchanged at Dolarindo.
Locations:
- Gedung DSS Remitens, Jalan Gunung Sahari Raya No 2B, Central Jakarta (online division)
Phone 021-6284912/13/14 - Jalan H Samanhudi No 35, Pasar Baru (Krekot) Central Jakarta
Phone 021-3457291 - Jalan Melawai Raya No 165 Blok C, Kebayoran Baru, South Jakarta
Phone 021-7223019 - Jalan Gajah Mada No 156E, Gajah Mada, West Jakarta
Phone 021-6342204 - Jalan Boulevard Raya Blok LA VI/20 Kelapa Gading Permai, North Jakarta
Phone 021-4532261
Website: http://www.dolarindo.com/index.php
Sahabat Valas
Operating since 1998, Sahabat Valas is one of the money changers in Jakarta that offer competitive sell and buy rate. Sahabat Valas is registered as PVA Berizin, so you can make sure that your transaction here is safe. This company offers on the spot transaction as well as phone confirmation (for transaction).
Location:
ITC Mangga Dua, 3rd floor Blok D No 58 North Jakarta
Phone 021-6012000
Website: http://sahabatvalas.com/
PT Alfa Valasindo
This authorized money changer has been trusted by Bank of Indonesia to serve foreign currencies exchange in Jakarta, so you can ensure that your transaction is safe here. Before exchanging your currency, you can get the daily updated information of exchange rates at PT Alfa Valasindoโs website. For your convenience, PT Alfa Valasindo offers flexible ways to get your money exchanged.
Locations:
- Danau Sunter Utara Blok B No 20 (Ruko Metro), North Jakarta
Phone 021-6511623, 99148124 - Mangga Dua Square, Ground Floor Blok A No 246&247, North Jakarta
Phone 021-93793755, 93793766 - Ruko Madison C1 No 5, Komplek Cibubur Times Square, East Jakarta
Phone 021-84305500, 92296044
Daily rates can be accessed at http://www.ptalfavalasindo.com/
