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Old 19-10-2016, 12:55 AM
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Re: Batam Info / Interest / Help Thread

Quote:
Originally Posted by Black Page View Post
Why don't you guys use your debit card to withdraw from ATM? Because you don't want to leave "traces" at home that you have been in Batam? At least, you have stamps on the passport, so it cannot be that case.

On Friday, the official exchange rate SGD/IDR was 9406,57 (source XE.COM).
Considering that Maestro (by Mastercard) applies a fee on the order of 1.25% on the official exchange rate (I may be wrong and it could be 1.5%), the actual exchange rate on withdrawals on Friday night using a Singaporean debit card would have been something like 9289 (warning: NOT using the credit function. It must be the debit function, that is Maestro or Cirrus).

I know one can get something more by hard negotiation, but the convenience of withdrawing from ATM is a value itself. It takes just 2 minutes and the rate is competitive (in the case you report, even better).

How to use the "debit" function?
Use a card with the Maestro logo, possibly avoid multifunction cards including also credit function (Mastercard, VISA, etc.). Then select "Withdraw" from "Savings".
Finished with your masturbating?

Here's the withdrawals that I made recently when the rate is about 9,500, and about 9,200 late at night.



CAse 1: 1/10 - XE.com rate 9509
Case 2: 8/10 - Xe.com rate 9406

Usually we can get very close to the XE rate above. As for how much, i can't remember. But, once you factor in the $5 svc charge, the effective rate becomes low unless you withdraw a lot, eg. 2.5jt in the 8/10 case. Else, the rate via ATM will not better off from night money changer. Of course, you can beat the convenience of ATM machine when late at night though...
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