Quote:
Originally Posted by m3823
I had changed $100 in sg anyway. Will avoid the ferry terminal if it's that bad. How bout the mall?
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The mall can just be as "good" as those in ferry terminal from my perspective,hehehe... Again,there are also 2 types of rate there (at mall), the better and the worse. Those shops at the front door,they offer the worst rate (i'm comparing within the mall now),those money changer further inside the mall,gives a little better rate than those at the front door.
My usual practice is, look for those individual-type money changer shops stretched in one whole row that are not in the mall. Like those money changers you seen in Singapore China Town area,like those shoe shops in Queentown Shopping mall. Many shops selling the same or similar product equates to a stiffer competition. Competition likely also means a better bargain. Ask at least 3 shops before making decision (physically ask for the price and don't just look at their price board).
Having said all the above,like some senior bros here have mention before. If you are planning to change less than S$1k,the difference were marginal between money changer shops in malls and those rows of shops mentioned above. You are likely only to save about S$1 to S$3. So it really depends if you find searching high and low,walking a 5 to 10 mins distance is worthy of your effort and time.
Overall time taken to look for the BEST can cost you about 30 mins (including time used to open mouth to ask) and just to save maybe about S$1 to S$3? When you are there in Batam, ask around the shops and you can better understand what i meant.
Read on...
Quote:
Originally Posted by m3823
My hotel is near the nagoya hill mall. Is it as bad as the ones in terminal?
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Before I reply your earlier post,i do check where your hotel is located. If you are staying in Formosa hotel,i will know how to direct you to walk within 1 min walk from it to get to my definition of BEST rate. But in general ,for my friends who don't stay around there,i will usually advise them to look for row of shops with at least few money changers around,and then ask at least 3 of them for their best rate. It will be stupid of me to ask you walk to Formosa from Ace to change money as it will cost you at least about 15 mins walk time. Or worse,spend 30k to 50k rupiah taxi fare to save S$1 to S$3 (unless you already booked a full day taxi,hehehe...it will then be worthy).
Example :
Money changer at ferry terminal offers 9500/SGD
Money changer at Batam Mall gives you 9520/SGD
Money changer at rows of shop's offered their best at 9550/SGD
Money changer opposite Formosa sells at 9560/SGD
You change S$100 at opposite Formosa,you saved 6k rupiah (when compared with the worst of the same day),which is about S$0.60. You changed S$200,you saved around S$1.20 and so on. You will then have to use your own judgement by asking around.
Note : I am talking about an individual person changing money here, if it is in a group of at least 3 person,my theory above will be a bit different.
To get to MY own definition of the best exchange rate in Batam,I will check XE or Yahoo finance websites. If the figure on those web sites say 9600/SGD,i should be able to get 9580/SGD opposite Formosa. Worst case scenario will be 9570/SGD.
I use the given rate from XE and Yahoo finance on Friday and Saturday to change my money on a Sunday. Or the rate on the eve of an Indonesia public holiday (or a day before eve) to gauge the rate for a public holiday.
Reason is simple,most banks in Indonesia don't open on public holidays and Sundays,and likely to open only half day on eves of public holiday and Saturdays. Most money changers cannot "buy" on "those time" to sell it to their customers, so they usually follow their last buying price.
Lastly, thank you for not quoting my whole long post.