Indonesia: Money Currency Means of Payment

Indonesian Money
Indonesian Money

Are you planning a trip to Indonesia? Here’s everything you need to know about money. What means of payment are accepted on-site? What should you pay attention to and how can you save money?

Traveling outside of the Country has also become easier and easier in recent years. Traveler’s checks have not been necessary for a long time, one or two credit cards are usually sufficient and everything can be easily organized on-site.

This is partly because there is increasing coverage with ATMs, and partly because more and more people are paying online, such as hotels and transport tickets, which means there is no longer a need to carry such large amounts of cash.

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1Budget: Travel Planning

Indonesia is not an expensive travel destination, even in Bali, you can still go on vacation very cheaply.

One of the biggest items on the spending side is flight. With a bit of luck, you can get to Bali for around 600 USD. Flights to Jakarta are currently available for less than 700 USD.

A simple double room is already available for 15 USD, and a bed in a dormitory is also below that. For 35 to 40 USD there is already a good middle class and from 60 USD even higher demands are often met.

A local meal can be had for 2-3 USD, and a local beer for 2-3 USD depending on where you buy and drink it.

You can rent a scooter from 5 to 6 USD per day, and laundry costs around 2 USD per kilo.

In total, you should calculate at least 30 USD per day (basic accommodation, local food, and a few paid activities). With 80 to 120 USD you can have a really good time.

2The currency in Indonesia

Money Indonesia
Money Indonesia

The currency in Indonesia is the Indonesian rupiah (not to be confused with the Indian rupiah). It consists of 100 cent, which no longer exists today, but only has historical significance.

The abbreviation for the currency is: IDR

3Exchange rate Indonesian Rupiah/Euro

For one USD you currently get about 15,231 rupiahs (as of May 2022).

Further examples:

10 USD = IDR 152,315
50 USD = IDR 761,574
100 USD = IDR 1,523,149
1000 IDR = 0.07$
IDR 10,000 = $0.70
100,000 IDR = 7$
IDR 1,000,000 = 70$

With the help of the currency converter, you can find out the current conversion rate from Rupiah to USD.

4Exchange rate Indonesian rupiah / Swiss franc

For one Swiss franc you get around 14,912 rupiah (as of May 2022). The exchange rate changes from year to year. Here you can find the current exchange rate from Rupiah to Swiss Francs.

5Payment methods in Indonesia

Withdrawing and paying with cash is the most sensible option, as credit cards are not accepted everywhere in Indonesia – especially outside of tourist areas. In addition, a small special fee is often charged.

V-Pay cards are not accepted in Indonesia, so you should bring credit cards with you to Indonesia to withdraw money from ATMs.

E-payment is also developing rapidly in Indonesia. Popular providers are OVO, ShopeePay, LinkAja, GoPay & Dana.

6Cash in Indonesia: Coins and Bills

Notes in circulation in Indonesia are in denominations of 100, 500, 1000, 2000, 5000, 10,000, 20,000, 50,000, and 100,000 rupiahs.

Coins exist in denominations of 25, 50, 100, 200, 500, and 1000 rupiah, but due to their low value, the small coins are hardly available in everyday life.

7Changing money: In Indonesia or already at home?

Indonesia Street Stall Money Exchange
Indonesia Street Stall Money Exchange

Due to the poor exchange rate offered to you in India, it is advisable to first change money in Indonesia, which you can do in exchange offices or banks (recommended!).

8Changing money on site – what should I watch out for?

You can exchange your money in Indonesia in hotels as well as in banks or exchange offices.

You should be wary of scammers on the street and, at small exchange offices, pay particular attention to whether you are getting the right amount. Also, compare the offered exchange rate.

In addition, before switching, it should be clarified whether fees are included in the course or whether they will be charged additionally and how much money will be paid out. In addition, you should try not to be distracted by third parties while exchanging money and, if possible, keep the money in your hands.

9Withdraw money in Indonesia

ATM Indonesia
ATM Indonesia

There are numerous ATMs, especially in the tourist areas of Indonesia, that have English-language user interfaces.

However, it is usually only possible to withdraw around 100 euros. If you need more money, you then have to withdraw several times in a row.

Your Girocard is suitable for cash withdrawals if it has a Cirrus or Maestro logo (V-Pay does not work). However, it is usually cheaper and easier to use credit cards such as VISA or Mastercard.

You can search specifically for ATMs on the following websites:

Visa ATM Locator
Mastercard ATM Locator

10What fees are due at ATMs in Indonesia?

You often have to pay high fees for withdrawing money in non-European countries. These vary from house bank to house bank but can amount to up to 10 euros per withdrawal.

For this reason, you should take a credit card with you that allows you to withdraw money free of charge outside the eurozone.

11Cashless payments in Indonesia

In Indonesia, credit cards are mainly used in tourist regions. Some hotels (from mid-range upwards) and shops as well as upscale bars and restaurants offer this payment option.

Note that many providers charge a fee for payment in a foreign currency. However, there are also providers who offer this service free of charge.

In addition, e-payment is becoming increasingly popular in Indonesia. There are numerous providers on the market.

12The best credit card for Indonesia

To save money, get the right credit card. There are providers who do not charge any fees for withdrawing money from ATMs or for payments in foreign currencies. You can find out what these are in our monthly updated article on the best travel credit card for Southeast Asia.

13Credit Card Fraud In Indonesia

Unfortunately, in Indonesia, too, it often happens that con artists try to skim your credit card details. Devices are installed at the ATMs that scan the details on the magnetic strip and film the PIN data with the help of a camera. Therefore, be careful and withdraw the money from monitored banks.

It’s also a good idea to hold one hand over the other while entering your PIN.

If possible, always be present when paying with credit cards so that a copy of the card is not made without your knowledge.

The risk of fraud is lower in shopping centers than, for example, in small restaurants.

14Send money to Indonesia

If you are in financial difficulties and urgently need money from your family or friends at home, Western Union’s service can be used to have money sent to you. This is debited by the sender and can be picked up by the recipient within a few minutes. All they have to do is provide their passport and the transaction number. This is usually done in a local branch, but can also be done in banks or hotels. Western Union charges a fee for this.

The online service Wise is also recommended for sending money internationally. With this, you only pay minimal fees. Here the system is explained extensively using the example of Thailand.

Other providers are Moneygram and Azimo.

15More tips about money in Indonesia

Sign Money Exchange Airport Indonesia
Sign Money Exchange Airport Indonesia

The import of cash and means of payment is unlimited, but amounts from 100 million rupiahs must be reported to Indonesian customs upon entry. Failure to report or incorrect reports will result in a fine of up to IDR 300 million.
The export of foreign currency and local currency is unrestricted, although amounts of 100 million rupiahs or more must be approved by the Indonesian central bank.

You should always take two or three credit cards from different providers with you in case a machine doesn’t accept a card or you lose a card.

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About This Article

Anand Agarwal
Written by: Anand Agarwal
1 votes - 100.00%
Updated: November 11, 2022
Views: 2914
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