Indonesian authorities have confirmed that one of the five men killed in two separate shoot-outs with police in Bali was connected to a terror cell found training at a paramilitary camp in Aceh two years ago.

Australia's Department of Foreign Affairs and Trade on Monday updated its travel advice in response to the "disruption of (an) alleged terrorist cell in Bali".

The overall travel advice level has not been upgraded, however, and continues to advise Australians to reconsider their need to travel to Indonesia.

National police spokesman Saud Usman Nasution confirmed earlier on Monday that the group killed in raids at addresses in Sanur and Denpasar on Sunday night were in the final stages of planning heists at locations in Bali heavily frequented by tourists.

Money raised from the robberies was to be used to fund terrorist activities, he said.