Medan

Currency Exchange in Medan, Indonesia

1. Where to Exchange Currency

• Banks: Major banks such as Bank Mandiri, BCA (Bank Central Asia), and BNI (Bank Negara Indonesia) offer currency exchange services. They typically provide competitive rates and are reliable.
• Money Changers: Look for licensed money changers, often found in shopping malls and tourist areas. Examples include:
  • Citi Money Changer: Located in various malls.
  • Travelex: Available in some shopping centers.
• Airports: Currency exchange services are available at Kualanamu International Airport, but rates may be less favorable than in the city.

2. Typical Costs or Fees

• Exchange Rates: Rates fluctuate; check online for current rates before exchanging. Money changers may charge a small margin over the interbank rate.
• Service Fees: Some money changers may charge a nominal fee for transactions, typically around IDR 10,000 to IDR 20,000 (approximately $0.70 to $1.40).
• Bank Fees: Banks may charge higher fees for currency exchange, especially for smaller amounts.

3. Procedures to Follow

• Identification: Bring a valid ID (passport) for transactions, especially at banks.
• Amount Limits: Be aware of any limits on the amount you can exchange at one time, particularly at money changers.
• Count Your Money: Always count your money before leaving the counter to ensure you received the correct amount.

4. Local Considerations and Tips

• Safety: Use reputable money changers and avoid street vendors. Always exchange money in well-lit, busy areas.
• Cultural Norms: Bargaining is not common in currency exchange, but it’s polite to greet the staff.
• Keep Small Denominations: Carry small denominations of Indonesian Rupiah (IDR) for local transactions, as larger notes may not be accepted everywhere.
• ATM Withdrawals: Using ATMs can be a convenient way to obtain local currency. Check with your bank regarding international withdrawal fees.

5. Trusted Locations

• Bank Locations:
  • Bank Mandiri: Multiple branches throughout Medan.
  • BCA: Located in major shopping areas.
• Money Changer Locations:
  • Citi Money Changer: Located in Medan Plaza and other malls.
  • Travelex: Available in larger shopping centers.

6. Cultural and Practical Advice

• Language: Basic knowledge of Bahasa Indonesia can be helpful, though many staff at banks and money changers speak English.
• Local Etiquette: Always be polite and respectful during transactions. A smile goes a long way in Indonesian culture.

By following these guidelines, you can navigate currency exchange in Medan effectively and safely.