UM Surabaya Lecturer Shares Tips for Safe Exchange of Money Ahead of Eid

• 06 Apr
• 2023

Ilustrasi gambar CNBC Indonesia (Tri Susilo)

UM Surabaya Lecturer Shares Tips for Safe Exchange of Money Ahead of Eid

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• By Uswah Sahal
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During Eid, apart from going home, distributing envelopes to relatives and neighbors is a moment that is celebrated every year. So do not be surprised if towards the end of Ramadan, people are flocking to hunt for locations or new official money exchange institutions.

However, in the midst of the excitement of Ramadhan and Eid, it is undeniable that a spike in crime also accompanies these two moments. One of them is the rampant criminal acts of counterfeiting money and brokers exchanging money.

To avoid this, UM Surabaya Sharia Banking Lecturer Arin Setyowati shared a number of tips that can be done to be safe when exchanging money ahead of Eid;

According to Arin, the first thing he did was exchange money at an official place. As announced by Bank Indonesia (BI) that money exchange can be done directly at Bank Indonesia's partners, namely banking institutions that are around the place of residence or work environment.

"At official money exchange locations from Bank Indonesia, one can save money without incurring additional money exchange fees," said Arin Thursday (6/4/23)

Second, avoid exchanging money through brokers. This anticipates exchanging money at an additional fee beyond the amount of money exchanged. In addition, also anticipate that the money being exchanged is counterfeit money.

"If you are forced to not be able to exchange money independently, then try to exchange money through friends or colleagues who work at the bank," Arin added.

Third, hunting for information regarding terms and locations for money exchange. According to Arin, this is an important step so that you are not rejected when you are at the money exchange location. One of them is the requirement to bring an official identity card and ascertain how much can be exchanged. As for location information, you can go to the official website of Bank Indonesia.

Fourth, do the money exchange early. This is important to do even though money changers with smaller denominations are mushrooming everywhere, so as to avoid snaking queues and jostling. What's worse, if you exchange money in a hurry (time is running out), it is very likely that you will choose the option of exchanging money to an unofficial place.

Fifth, understand and learn the skill of self-screening money. It is important to do this to ensure that the denominations we receive are not counterfeit money. One of them is the 3D technique which includes seeing, feeling and tracing.

To test this, Arin first asked the public to pay attention to the color, especially in the image of the shield on the banknotes. Both are touched, try to touch slowly and in detail. Real money, has a rough texture in several parts of the currency such as the main image, nominal figures, pictures of the national symbol, spelled out letters, phrases of the Unitary State of the Republic of Indonesia, and the words Bank Indonesia.

"Lastly, see through. Point the money at sufficient light, then in certain parts it will show the shape of currency denominations and the logo of Bank Indonesia will be more intact," concluded Arin.