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Being Short-Changed in Bali

Nearly Half of All Moneychangers in Bali are Unlicensed


Bali News: Bali, Indonesia, moneychangers, foreign exchanges, Ayu Astuti, APVA, Association of Foreign Exchange, APVA
Click Image to Enlarge

(2/17/2012)

The State News Agency Antara reports that 40% of the moneychangers operating in Bali do not hold the required permits issued by Bank Indonesia.

The Secretary General of the Association of the Foreign Exchange Dealers (APVA), Ayu Astuti D, said, “according to our data, 30-40% of the 146 (foreign exchange) companies headquartered in Bali are illegal.”

Complaints are received from tourist who are frequently deceived by unethical money changers operating from unlicensed locations.

Visitors are recommended to exchange money at banks or money changers displaying the membership logo of the APVA.

 


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