Is it worth getting a travel money card for Bali?
It’s a myth you need a travel card for Bali | Digital art by Simon
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Do I need a travel card for Bali?
No, you don't need a travel card for Bali. Personally, I'm not a fan of travel cards. If you have an ATM card from your home country that allows international withdrawals, and you bring that along with some cash, you'll be all set.
The truth about travel cards
The truth is that travel cards are just a way for card issuers to get a slice of your money, using fear of loss and theft as a sales tactic. They make money on the exchange rate (despite claiming you’ll get a good rate) and the use of your money while it’s locked on the card.
Here’s what I recommend:
My partner and I have done long and short stays in Bali over 25 years using the following method and never had a problem and always felt I got a way better deal.
Bring 40% to 60% of your travel budget in cash of your home country. Nice bigger denomination notes, with no marks or tears.
Leave the remainder of your travel budget in your home bank account to access in Bali at ATMs. You just need a standard bank account with an ATM card that is enabled for overseas transactions.
I have found a surprisingly good exchange rate when I have used ATMs in Bali….quite close to the rate offered for cash at a reputable money changer…it will be a little less, but not a bad price to pay for the safety of not carrying all cash.
You can also use a VISA or Mastercard for credit card transactions. Often you can have that card linked to your checking or savings account as well. However, I like having a credit card separate from my checking/savings ATM card, further reducing risk and loss if a theft occurs. Keep them in separate locations, not together in the same wallet or money belt.
Contact your home back before you go and make sure your card and account will be accessible using overseas ATMs. Let them know your dates of travel as well so they don’t flag your legitimate transactions as fraudulent.
If you are trqaveling with your partner, split your cash and bank money equally - each carry 25% of your total cash and each have at least one home bank account with 25% of your bank money. That way if either of you is robbed you will loose less.
If you are going on a longer trip and Bali is just one stop, I suggest getting two home country bank accounts with different banks and split your money equally between these accounts. Keep one card in your wallet or money belt and the other separate so if one is lost of stolen you still have access to money.
Want the full story?
Read our MEGA article, Bali Travel Tips for a complete list of tips and resources.
Other articles:
The dirty secrets travel card companies don’t tell you
Dirty secret #1
One of the reasons travel card sellers sell their cards is because they claim you will get a better exchange rate.
I think that is rubbish. You will get the best rate if you change at a reputable money changer when you arrive in Bali.
This is particularly true if you come from a country that Bali money changers accept currency from. These countries are: Australia, Brunei, Canada, China, Denmark, Euro, Hong Kong, Japan, Malaysia, New Zealand, Singapore, South Africa, South Korea, Switzerland, Thailand, the United Kingdom, or the United States.
If you come from a country like, for example, India and you need to exchange Indian rupees into US dollars before you leave home, you might see a benefit in going for a travel card that allows you to buy Indonesian Rupiah directly. You’ll just need to do the math.
Dirty secret #2
That leads me to the other reason I don’t like travel cards: if you have money left on them at the end of your trip, it can be hard, or expensive, to get your money back into your pocket. So don’t go there if you don’t have to.
The risk of theft in Bali is actually very low
There is very little theft in Bali, so the ‘risks’ travel card sprukers will try to scare you with are actually way overstated. Of course we have to be careful when traveling and be mindful of cash and cards, but you have to be careful with a travel card anyway. So what’s the difference?
But aren’t travel cards popular?
You’ll see travel cards being pushed by travel websites a lot - because they make a commission if you buy one via their link. So travel cards look popular because they are promoted everywhere.
Heck, I could be making money recommending travel cards to my readers, but I think they are a rip and just won’t do it.
I just think they are not necessary, and I would rather you keep the commission and spend it on yourself.
Conclusion: Is it Worth getting a Travel Money Card for Bali?
No. Follow my advice above and just bring a combination of cash and home bank ATM and or credit card and you will be sweet. Save the money and spend it on yourself.
FAQs
1. What is a travel money card and is it worth using for Bali?
A travel money card, like a debit or credit card, can be loaded with Indonesian rupiah making it a potentially cost-effective payment method for Bali travel.
2. Are there other currency exchange options for Bali than just using cards?
Yes! Bring cash to Bali and use a reputable foreign currency exchange outlet to change it into Rupiah.
3. How can I save money on currency exchange when traveling to Bali?
Bring cash. Cash is king. Be safe by bringing 40-60% cash and the balance in a bank account you can access from a Bali ATM.
4. What should I consider when deciding how to manage my overseas spending in Bali?
Maximizing convenience and security with your choice of payment methods should be your main focus; consider if paying through networks like visa will suit your needs better or if having physical cash might work more effectively.
5. Should I get travel insurance when planning my expenses for a trip to Bali?
Getting Travel insurance could protect against potential losses incurred due to unforeseen circumstances during international travels; think about this as an additional layer of security while managing your finance in foreign lands.
