What is the 'best' way to get the best rate when exchanging money for an OS holiday to Bali?
I am well traveled, but am sick of paying the money changers exorbitant fees. So what is the best way to get local currency?
Many many years ago I would have purchase travelers cheques in $A, then changed them when OS.
More recently on a longer trip in Europe I just used my ATM (Maestro) card and withdrew local currency straight from an ATM. This left me hit with unattractive exchange rates and also a fee for the effort.
This time round I am considering shopping around in Sydney, and purchasing some cold hard Indonesian cash before going over (well aware of the risk of carrying cash). Obviously exchanging cash at hotels, airports etc. is were you get the uglier exchange rates.
I do have an IB account; is there any 'magical' way of buying currency on IB and somehow getting your hands on it? I'm guessing not? I guess travelers will always be at the mercy of the money lenders, and the banks.
Are $US dollars accepted in Bali?