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Tips for Choosing a Money Changer Before Traveling

Traveling abroad makes you have to prepare many things, one of which is exchanging money. Money changer Indonesia is available in various cities, but you should still choose a safe and secure money changer for multiple reasons.

Money changer deals with exchange rates and legality. You cannot exchange money carelessly, especially in large amounts. So before choosing a money changer, look at the tips below to stay profitable and keep your transactions safe.

4 Ways to Choose a Money Changer

1. Have an official permit

Money changers must have an official permit issued by the OJK or the Financial Services Authority. This institution minimizes the fraud that often occurs when exchanging money. Not everyone is familiar with foreign currencies, so they are at risk of exchanging counterfeit money at money changers.

How to check the official money changer? You can open the OJK website and check the name of the money changer to be visited. If not registered, then avoid the money changer. That is, the transactions that occur are precarious.

2. Find a reasonable exchange rate

You should frequently monitor the movement of the exchange rate. You can see this information online by converting the rupiah value to a foreign currency. Then, check the exchange rate offered by the money changer. If it’s too far, it’s best to avoid it and find another money changer.

An exchange rate too far from the buying and selling price will make you lose money. Especially if you are going to exchange large amounts of money. Compared with other money changers available

3. Flexible payment

Also, choose a money changer that offers flexible payments. So, you don’t have to come to a place with a lot of money. It will minimize the risk while traveling. In addition, it is also safer because transactions are recorded in banks.

But remember, some only accept cash. Money changers are strict, especially when buying foreign money that we hold. The reason is that they will first check whether the money we have is real or fake.

4. Have a good reputation

It is essential to choose a money changer with a safe reputation. Indonesia money exchange activities need to pay attention to this. Reputation is related to the integrity of the money changer itself. If the reputation is terrible, usually transactions tend to be unsafe or provide poor service.

Before going to a money changer, you should check their reputation on their website or social media. A trusted money changer will provide information regarding exchange rates and testimonials from exchangers. That way, your exchange transactions remain safe, and you will not lose money. 

Choosing a money changer in Indonesia is not difficult because they are almost everywhere. It’s just that the tips above need to be applied so that you can exchange money safely. Ensure the exchange rate is so valuable that you don’t lose out on the value.