Where to Buy Indonesian Rupiah in the USA Without Huge Fees

Preparing for your travels to Indonesia? You may be wondering whether you should prepare some Indonesian Rupiah in cash prior to your departure, or if its cheaper to simple use your cards in Indonesia after arrival.

In this guide, we will explore the best overall place to get Indonesian Rupiah online in the USA, which is with a travel money card like Revolut or Wise. If you'd like to simply withdraw Indonesian Rupiah in cash from an ATM in Indonesia, we will explain how to do so without incurring unnecessary fees.

We'll cover the costs, and the pros and cons, involved for each method. By understanding your options and their fees up front, you can enjoy the peace of mind that you're getting the best deal for your situation.

1. Indonesian Rupiah Travel Money Card

Travel money cards are prepaid debit cards that let you hold the local currency of your destination (IDR) so that ATMs and point-of-sale devices treat you like a local card holder. Simply top up your card balance in US Dollars and convert those balances to Indonesian Rupiah. Then use your card to pay with peace of mind like a local.

User-friendly fintech apps like Revolut and Wise far and away offer superior rates when compared to banks and bureau de change kiosks. Since you can download the apps and use their virtual cards directly onto your smartphone, we also consider them to be more convenient. Compare the in more detail with our in-depth prepaid travel card guide.

Revolut Account

Revolut charges no foreign transaction fees on the first $1,000 spent per month and no ATM fees on the first $1,000 per month, although fair use limits and weekend surcharges may apply. This ATM policy is far more generous than other competitors such as Wise, Monzo, and Monese. If you're in a rush, you'll still be able to access Revolut's instant virtual card from the app and add it Apple Pay, Google Pay, and other third-party digital wallets.

Wise Multi-Currency Account

Unlike banks, credit unions, airport kiosks, and foreign ATMs, Wise is transparent about never charging a hidden exchange rate margin when you convert your dollars into euros (and 51 other currencies) with them. The live rate you see on Google or XE.com is the one you get with Wise. Instead, they charge an industry-low commission fee, which ranges from 0.35% to 2.85%.

2. ATMs Abroad Using a Debit Card With No Foreign Transaction Fees

We recommend getting Indonesian Rupiah in cash from ATMs with debit cards because credit cards with charge you cash advance fees and high APR on ATM withdrawals. Plus, debit cards will use exchange rates set by your card network (like Visa and Mastercard), which are near the mid-market rate.

Foreign transaction fees are fixed percentage fees (usually around 2.5%) that card issuers will tack on to the purchase price. These fees pile up when you travel and spend internationally, which is why you should always travel with a card that waives foreign transaction fees.

Travel Tip: Read more about the 5 best debit cards that waives international transaction fees.

3. Online Foreign Currency Exchange

Online foreign currency exchange services are convenient and can be reasonably priced if you order a few weeks in advance. Take note to not pay with a credit card because your card provider will treat it like a cash advance, which will incur fixed fees and APR costs. When you order Indonesian Rupiah in cash online, foreign exchange service providers will charge you two kinds of fees:

1. Exchange Rate Margin: Providers apply an exchange rate that is poorer than the true "mid-market" exchange rate. They keep the difference, called an exchange rate margin.
2. Commission Fee: This fee is usually a percentage of the amount converted, which is charged for the service provided.

In-Person Cash Pick-Up

Most services allow you to visit a local branch in your neighborhood to pick up your cash. This is usually a no-cost service.

Home Delivery

For added convenience, you can pay a delivery fee to have the money sent to your designated address on a set date and time.

4. Traditional Banks

Despite commonly heard advice, banks and credit unions are outdated currency exchange providers. Many banks offer foreign exchange services online, but you may need to be a client of the bank. You can pay by cash, card, or with your existing account balances.

For illustration, we found that Bank of America was converting €1,000 EUR into $1010.60 USD even though the mid-market exchange rate was at €1,000 EUR = $1,063.60 USD*. That's a markup worth $53.

*Exchange rates recorded on 22 September 2023 12:55 CEST.

We generally recommend against getting Indonesian Rupiah from your traditional bank or credit union.

5. Money Changer Kiosks

Money changers generally charge high exchange rate margins, like banks and online foreign exchange services. We tend to treat these providers in the same category as airport bureau de change. Even if they advertise "no commission," you will still incur the hidden cost of the exchange rate margin.

While these kiosks may be conveniently located in cities and tourist attractions, we recommend going to bank ATM instead, using a prepaid travel card or a debit card that waives foreign transaction fees.

6. Airport Bureau de Change Kiosks

While bureaux de change at airports in the USA may be convenient for last-second exchanges, they charge huge exchange rate margins and hefty commission fees. They should be avoided at all costs.

If you need cash for your trip to Indonesia, we recommend that you withdraw cash from an ATM abroad, using a prepaid travel card or a debit card that waives foreign transaction fees.

Summary: Where to Buy Indonesian Rupiah in the USA

Each method to get Indonesian Rupiah in the USA will have its conveniences and drawbacks depending on your situation.

Here is a summary of the best places to buy IDR with USD:

1. Prepaid Travel Money Card: Compare the best travel money cards.
2. ATM with Debit Card: The top 5 that waive foreign transaction fees.
3. Online Foreign Currency Exchange Service: Learn about travel money.
4. Traditional Banks: Explore bank currency exchange.
5. Money Changer Kiosks: Find the best way to spend money abroad.
6. Airport Bureau de Change: Use ATMs abroad as better alternatives.