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How to open a Bank account in Bali

Bank | Business | payments

  • March 30, 2024
  • 4 min
  • feature_image

    Opening a bank account in indonesia is a fundamental step towards financial stability and convenience, whether you’re resident or an expat in indonesia. . Foreigners can benefit from having an Indonesian bank account. Especially when you run a business in Indonesia, it’s beneficial to have a bank account that can receive the official currency of Indonesia, the rupiah (IDR). Foreigners can open an individual or business bank account in Indonesia. This article will explain everything you need to know about banking in Indonesia.

    BNI Bank

    Processing Time : It can take up to two weeks to set up an account IDR 1,200,000 is the deposit for the Indonesian Rupiah (IDR) account, which has a non refundable balance of IDR 150,000.

    • Deposit for U.S. Dollar (USD) Account: IDR 2,000,000 (USD account, not a multi-currency account).
    • Payment System: Mastercard.
    • Non-Personalized Card: The card is not issued in your name.
    • Card Linked to IDR Account: The card can only be linked to an IDR account. It cannot be linked to a USD account.
    • Accepts SWIFT Transfers: You can receive SWIFT transfers.
    • Mobile Application: The mobile application is in the Indonesian language.
    • Online Spending Limit: Up to IDR 10,000,000 per day. ATM withdrawal limit is IDR 5,000,000 per day.
    • Requires an Indonesian Sponsor: You need to have an Indonesian sponsor.

    Following that the bank will get the paperwork, and you wikk be invited to visit the bank branch once the account is prepared.IT can take up to three business days to set up an account.

    The bank branch is located in Kuta.

    For more information.

    Bank Mega

    • Three business days or so is the estimated processing time.
    • IDR 3,000,000 is the deposit for an Indonesian Rupiah (IDR) account, with an IDR 100,000 non-reducible balance.
    • $250 is the deposit for the US dollar (USD) account
    • Unpersonalized Card: Your name is not printed on the card.
    • Card Linked to IDR Account: Only IDR accounts are eligible to be connected to the card. It isn’t connected to a USD bank account.
    • Takes SWIFT Transfers: SWIFT transfers are accepted upon receipt.
    • Mobile App: The app is available on mobile devices and is available in Indonesian.
    • Online Spending Cap: The maximum amount that can be spent online in a single day is IDR 250,000,000.

    The bank branch is located in Seminyak.

    For more information about the account.

    Bank Permata

    • Processing time is 5-7 business days
    • Deposit for Indonesian Rupiah (IDR) Account: IDR 250,000 (with a non-reducible balance of IDR 100,000).
    • Deposit for Multi-Currency Account: IDR 1,000,000 (with a non-reducible balance of IDR 1,000,000).
    • Non-Personalized Card: The card is not issued in your name.
    • Card Linked to Multi-Currency IDR Account: The card is linked to a multi-currency IDR account.
    • Accepts SWIFT Transfers: You can receive SWIFT transfers.
    • Cannot Send SWIFT Transfers: You cannot send SWIFT transfers.
    • Convenient Mobile Application in English: The mobile application is available in English.
    • Online Spending Limit: Up to IDR 10,000,000 per day.
    • Requires KITAS for Account Opening: A KITAS (Temporary Stay Permit Card) is required to open this account.

    Additional Information about Permata Bank:

    • If you plan to travel outside of Indonesia, inform the bank in writing, by phone, in person, or via email at care@permatabank.co.id. Otherwise, your card may be blocked.
    • If you encounter issues abroad, contact international support at +622129850611.
    • You can remotely change your phone number by calling the bank.
    • To open an account, a LegalIndonesia staff member will provide you with the date and time of your bank visit (please note that the date and time may change). The card will be issued on the day of your bank visit.
    • Bank branches are located in Kerobokan, Legian, Seminyak, Kuta, and Nusa Dua.
    • Information about the Multi-Currency Card.
    • Information about the IDR Card.

    In the future, you can upgrade your card to the Red or Black card by making a specific deposit. After the upgrade, you will receive a personalized card with daily limits of 20 and 50 million IDR, respectively.

    Can foreigners open a bank account in Indonesia ?

    Regretfully most of the bank accounts in Indonesia won’t let you finish your bank account from another nation. The procedure could be initiated by downloading and filling out an online application. Nevertheless, you will need to verify your information or turn in your documents in person for the account to be formally published. This refers to a trip to an Indonesian bank branch.

    Indonesian banking: an explanation of fees

    In Indonesia, the majority of bank accounts have an admin charge of Rp. 15,000 to 20,000 each month. Although it seems like a lot, this is just about £0.80–£1 every month.Most banks also need you to make an initial deposit of about Rp 500,000.00⁶ (about £26). Additionally, be sure to look for fees in the fine print if your balance falls below a particular threshold.The majority of Indonesian banks offer free ATM cash withdrawals, however using an ATM owned by another bank could incur fees.Finally, there are foreign transfer fees to consider. When sending money overseas, the majority of Indonesian banks impose a fixed fee. There could also be additional costs.

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