In Reply to: Money changers or ATMS posted by RCALKIN on Monday, 29. March 2010 at 22:40 Bali Time:
ATMs give you what you get...money at approved rate minus a fee for transaction. I have always found reliable.
I usually take cash (AUD). Problem is if you are not used to the currency can get confused with the numbers. Last year trick tried on me twice was at eg 7800 to the dollar, I changed $100 = R780,000 was given R700,000 plus R8000, ie a shortfall of R72,000. Spotted it both times but easy to be confused (Note once was a Kodak shop so don't drop suspicion there).
This year at a change booth near to the restaurant "Nines?" in Legian changer had only R20,000 notes so needed 42 for the $100. He let me count but kept picking up and recounting after me. In the end I walked away then his 2 mates accosted me and said that I had made a contract and had to change the money. They threatened to call the police so I took out my mobile and asked for the number at which they backed off.
So can't give you 100% advice except:
trust nobody
count the money you're given before handing over your cash
work out the amount you are to receive before starting transaction (use a calculator if necessary)
get used to and check the denomination of notes
look for "no commission" on advertised rates. Otherwise you get an extra tax you are not expecting
if rate is very good (eg if 10 booths offer 8200 - 8300 and you come across one offering 8500 be doubly suspicious
large denominations the best - easier to count
if in doubt walk away.
NB is southern Sanur where I usually stay a booth in an alley just north of Trophy bar and Mago's seems to be the most reliable I've found. But I still check.