Money Changer Sleight of Hand
How It Works
Non-bank money changers advertise rates 10โ20% better than banks to attract customers. During the counting process, the cashier uses sleight of hand to remove notes from the stack, or counts quickly and confusingly to shortchange you. You leave with 20โ40% less than you should have received.
๐ธ Typical amount lost: 20โ40% of the exchanged amount
Red Flags
- Rate significantly better than bank rate
- Cashier counts money very quickly or in a confusing order
- Cashier recounts multiple times
- Money changer is not a bank or authorized PT Penukaran Valuta Asing
Phrases Scammers Use
- ""Best rate in Bali, no commission""
- ""Bank rate is bad, I give you much better""
What To Say & Do
Use only authorized money changers (look for Bank Indonesia authorization certificate) or withdraw from bank ATMs. If using a non-bank changer, count every note yourself before leaving the counter. Say: 'I will count this myself' and take your time.