How to Open A Bank Account in Indonesia as a Foreigner 

Opening a bank account in Indonesia as an expat is straightforward once you have your ITAS or KITAS in hand. This guide covers the major local and foreign banks, account types, initial deposits, tourist accounts, and the cheapest ways to transfer money internationally.

Are you in the process of moving to Indonesia as an Expatriate and thinking of opening a bank account? No need to worry. 

Opening a Bank account in Indonesia is relatively easy despite having strict supervision by the Indonesian Central Bank (BI) for all banking services. 

There is local and international banking institution in Indonesia with several available for expats or foreigners. Those banking accounts are in rupiah and foreign currency accounts which are usually USD available for expats living in Indonesia. Expats are entitled to use several banking services with a mostly straightforward procedure. 

In this article, I would like to guide you in the process of opening a bank account, available banks to choose too, and other services that you can avail yourself of while storing your money in the bank.

 

Procedures for Opening a Bank Account in Indonesia 

Let’s take a quick look at what you need to have to open a bank account in Indonesia.   

Which Bank to Choose  

There isn’t much difference between each bank in Indonesia, in which you can find out more below.

Ideally, you would like to open a bank account near your residence or place of work. In Indonesia, you still need to visit a physical bank regularly for submitting paperwork and other future transactions that may arise.

Another thing to look at is the number of ATMs in your area, in which you should first scout the area first to see which banks have the most ATMs there. It would be convenient for you especially if you would require emergency withdrawals. Just take note that most banking institutions in Indonesia have a joint agreement allowing you to use other ATM bank branches for a transaction. But you will incur additional charges if you use a different ATM provider    

In case you would like to deposit a large amount of money into your bank account, such as over $50,000 USD or equivalent, it’s better to go with major banks to ensure your financial security.  

Types of Banking Accounts Available for Expats 

Depending on the purpose of your bank account, a foreigner is allowed to open or choose these types of bank accounts.

They can open a checking account for the ability to make payments by cheque (giro). Apart from that, you will have the ability to defer payment by retroactive check.

They can also open a saving account that enables them to use the account as a tool for transfers and debits. Part of this service is accessing ATMs.

An expat can open a deposit account that provides higher interest than a savings account. The only catch is deposits are withdrawn following the agreement with bank customers with expected higher returns.

Lastly, an expat can open a credit account. If approved, you will receive a credit card that you can use to purchase from different vendors across Indonesia. You will have to undergo stricter evaluation before getting approval. Be mindful of the fees as well.  

Requirements 

Generally, when you need to open a personal bank account in Indonesia, here’s what you need to have: 

• A reference letter from a sponsor who’s either your employer or an Indonesian spouse 
• A copy of the passport 
• A temporary residence permit (ITAS/KITAS) or permanent resident permit (ITAP/KITAP)
• An initial deposit  
• A proof of address in Indonesia (rental contract, utility bill, and etc.)

For expats or foreigners already married to an Indonesian and plan to open a bank account and deposit an amount of over 50K USD or other equivalent major currencies. You will have additional requirements such as Husband/Wife ID, proof of residence, and banking financial products from other banking institutions for verification.

For bank accounts used for payroll purposes, several other documents may need to be submitted.  An expat will need to submit a Tax Identification Number and an employment letter issued by the hiring company.

Normally it’s prepared by the hiring company representative and the expat will go to the bank for completion of banking documents and signatures.   

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In expat forums discussing Indonesian banking in 2025-2026, BCA consistently comes up as the top pick. Its myBCA mobile app is praised for its English interface, and staff at BCA branches in Bali and Jakarta reportedly walk newcomers through account setup in English. The branch near the Expatriate Center in Jakarta sees enough expat traffic that the process is well-rehearsed. Several expats also note that some branches now accept digital copies of documents rather than requiring original physical copies.

Do You Need an NPWP (Tax ID) to Open a Bank Account?

NPWP (Nomor Pokok Wajib Pajak) is Indonesia’s tax identification number, and it comes up constantly in the bank-account process because banks report interest income to the tax office. Indonesia’s Directorate General of Taxes requires a foreign national registering for an NPWP to supply a copy of their passport plus a valid KITAS or KITAP. A passport on its own is not accepted for NPWP registration.

You generally do not need an NPWP for a simple rupiah savings account. Where it becomes necessary is a payroll account, since your employer needs it to report your salary, and it is worth having for any account that will earn meaningful interest. Without an NPWP on file, banks apply a higher withholding rate on interest income until you supply one, so sorting it early is mostly about not overpaying tax on money sitting in savings.

Initial Deposit  

A payroll bank account doesn’t require minimal deposit amounts while non-payroll bank accounts will require a minimum deposit amount.

On average, you will require 1,000,000 rupiah for starting deposit amount for a rupiah-based bank account. If you open a foreign currency-dominated bank account, you can make an initial deposit of 100 USD. For foreign tourists, you are allowed to open a bank account starting at 2,000 USD with a maximum of 50,000,000 USD or equivalent for a different major currency.  

Application 

After all requirements are prepared, the expat is required to proceed to the bank of choice and complete the steps. Assisted by banking personnel, you will need to complete the banking forms and have all the documents properly signed.

Some banking institutions may require an expat to provide fingerprints to complete the forms and part of the verification process.

Once completed, you will be provided an ATM card and asked to create a PIN for access. Banking personnel will assist in activating the ATM. In the digital era, your ATM can be used as a debit card and access the ATMs for cash withdrawals or transfer of funds. An ATM card in Indonesia is also a debit card. This means you can use it for direct purchases. You can also perform other transactions like internet payments, electrical and water utility purchases and payments, and so much more.

Once the ATM card is activated, you will have the option to use the online banking system for online transactions such as checking the remaining balance, transfers, and payments.

To improve your digital banking security, you have a choice of either using your phone or a security device (token) that generates codes while performing online banking services.    

You can also use a VPN to improve security when doing any online transaction.  

Banks in Indonesia

With over 90 banks in Indonesia, here are some that have a large customer base for their wide range of products and services. 

Local Banks 

You have two options for local banks: government banks and private banks. 

There are the most popular options for expats in Indonesia. Both banks have similar features and customers can perform a transaction in either of the banks. Both banks are regulated with ownership as the sole difference.  Both government and privately owned provide good customer service and have the most number of supporting branches all over Indonesia.

Apart from the local services, the overseas presence is also an important banking feature. Several countries, such as Singapore, Hong Kong, and Malaysia, are the countries with the largest number of Indonesian bank branches.    

BNI 

Bank Negara Indonesia or BNI is the oldest government-owned commercial bank. It has also the most number of overseas branches. Countries with BNI branch offices include the United States, United Kingdom, Japan, Hong Kong, and Singapore. BNI is quite famous for its mobile banking service and call center among the government-owned banks in Indonesia 

Bank Mandiri 

Bank Mandiri is the largest Indonesian bank in terms of assets and commercial users. It has the most number of ATMs all over Indonesia.

Also, a government-owned bank with the second most overseas branch office. Bank Mandiri has branches in England, Singapore, Hong Kong, London, and so on.

BRI 

Bank Rakyat Indonesia or BRI started its banking operation in Purwokerto city on Java Island. Since then it has transformed into one of the biggest banks in Indonesia. Another government-owned bank has many oversea offices. BRI overseas branches are in New York, Singapore, Hong Kong, Taiwan, Cayman Islands, and Timor Leste.

BRI has the most number of branches located all over Indonesia.  

BCA 

The most popular widely used bank, Bank Central Asia or BCA is the biggest privately owned commercial bank in Indonesia. BCA is famous for its excellent banking services. They have a lot of financial services with relative ease in doing bank transactions.

It has representative offices of commercial banks in other countries too such as in Hong Kong and Singapore. 

Maybank 

Maybank is a private commercial bank and is part of Malayan Banking Berhad of Malaysia. It is considered one of the largest financial service providers in ASEAN.

Bank PAN Indonesia 

Bank PAN Indonesia, better known as Panin Bank, is the result of a merger between Bank Kemakmuran, Bank Industri Jaya, and Bank Industri Dagang Indonesia. The banking loans program for house purchases is quite famous for Indonesian customers. 

Currently, Bank PAN Indonesia has one representative office for commercial banks in Singapore. 

Foreign Banks in Indonesia 

There are many foreign banks in Indonesia, but only a few are the most popular and are considered to have a fairly good performance by the financial authorities in the country.  

DBS Bank Indonesia 

Being a part of the DBS Group in Singapore, DBS Bank Indonesia has provided many satisfying services to its customers. The bank, whose name stands for The Development Bank of Singapore Limited, has been declared one of the best foreign banks in the country by trusted sources such as Forbes.

Expats can consider this international bank for its wide overseas presence. It has worldwide offices in more than 40 countries. 

HSBC Holdings Bank 

Another foreign bank popular domestically is HSBC (The Hongkong and Shanghai Banking Corporation), which was founded in 1865 in British Hong Kong. The interesting fact is that this bank based in London, England has opened branches in Indonesia since 1884. Only about two decades from the year it was first founded.

Initially, this bank contributed to financing and facilitating the sugar trade in Indonesia. However, now HSBC Bank has offered a variety of services to customers covering the fields of corporate, retail, and wealth management. 

OCBC Indonesia (formerly OCBC NISP) 

The Oversea-Chinese Banking Corporation or abbreviated as Bank OCBC is Singapore’s base international bank. After acquiring the local bank NISP and setting up its head office in Jakarta, the bank traded as OCBC NISP for years, then dropped the NISP suffix in 2023 and now operates simply as OCBC in Indonesia. In 2020, this bank won the title of one of the best banks thanks to its brilliant performance.  

Providing key financial support to low-middle-class entrepreneurs is one of its best financial services.  

CIMB Niaga 

As described above, CIMB, which hails from neighboring Malaysia, has acquired Bank Niaga an Indonesian local bank. The bank with the long name Commerce International Merchant Bankers began working with Bank Niaga and operating as a CIMB business in 2008. In addition, CIMB has also merged with Bank Lippo which has been in existence since 1948. 

You can open an account with as low as a 100,000 starting deposit amount. It also provides free life and health service for some of its banking services. 

Is Your Money Safe? Deposit Insurance in Indonesia (LPS)

Indonesia has its own version of the FDIC. Lembaga Penjamin Simpanan (LPS), the government deposit insurance agency, guarantees deposits at licensed commercial banks up to a ceiling set per depositor, per bank. It applies to foreign nationals the same way it applies to Indonesian citizens. Check the current ceiling on lps.go.id rather than working from a figure you read elsewhere, since it is reviewed over time.

The guarantee covers rupiah and foreign currency accounts alike, but it only applies if your account meets what LPS calls the “3T” conditions:

• Tercatat (recorded): your deposit is properly recorded in the bank’s own books.
• Tingkat bunga (interest rate): the interest you earn does not exceed the LPS guarantee rate for that period.
• Tidak melakukan fraud (no fraud): you are not implicated in conduct that caused the bank a loss.

That middle condition is the one that catches people out. LPS publishes a guarantee interest rate, and if a bank offers you a rate noticeably above it, the excess is not protected if the bank fails. Before you accept a high-interest offer on a large balance, check the current LPS rate for your account currency.

Expat-Friendly Banks in Indonesia. 

The idea of having a resident bank account makes it more convenient and accessible for you to exchange money and conduct financial transactions locally. 

A great example is the local bank BCA. It has a considerable overseas presence and is easily one of the top banks in terms of capital, services, and customer base in Indonesia. They can assist you to open an Indonesia account if you have an existing BCA Singapore account  

This way an expatriate can maintain their normal account in their home country while opening an account on a similar bank that has multiple country bank branches. 

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Can a Tourist Open a Bank Account in Indonesia? 

According to the Indonesian Financial Regulatory Body (OJK), foreign tourists are allowed to open a bank account using a passport for identity verification. However, the main condition is that you need to put an initial deposit of $2,000 USD. And not all the banks are willing to open an account for a tourist.

I successfully opened a bank account as a tourist with BCA in Bali.

Please note that bank may require additional paperwork. It’s still a good idea to recheck with the bank again.

International Money Transfers 

This service is quite famous for expats sending funds overseas to their family or friends. A great example of this financial service is the use of western union. Western Union has close collaboration with Indonesian local banks such as BRI, Bank Mandiri (sharia), and CIMB Niaga. Simply go to their branches and the banking staff will assist in performing the transactions. This financial service can help you transfer either directly to an individual receiver or your overseas bank account. The transaction is almost instantaneous. Transaction cost ranges from 30,000 – 100,000 rupiah. 

Another financial service with a similar function is Moneygram. This service has a joint work agreement with the local BCA. Collaborating with BCA means great customer service with widely available branches for support. Transaction cost starts at 100,000 rupiah. 

Another popular financial service is Wise. Having the advantage of just using a smartphone with stable internet and you can already avail the service. You will need to download the app on your (App store Apple/Android). The procedure is quite straightforward with transfer almost instantaneous too.

One trend in expat communities in 2025-2026 is the growing use of Jenius, the digital bank from Bank SMBC Indonesia (renamed from BTPN in 2024), as an alternative for digital nomads who lack a KITAS. Jenius allows registration with a tourist passport through its app, with no physical branch visit required. Functionality is more limited than a full resident account, but it covers day-to-day transfers, rupiah management, and linked debit payments, which is enough for shorter stays.

Now, on to You 

The Indonesian banking industry is recognized as having a stable value because until now it is considered the most dominant in raising public funds over assets as well as channeling the money to individual customers or entrepreneurs. With the increasing number of acquisitions or mergers of foreign banks in Indonesia against domestic banks, you can expect better products available in the future.

What’s more, an improvement in technology greatly facilitates customers saving activities and applying for capital loans, and adding benefits for users of national banks. Financial authority is expected to be able to monitor the progress of all banks in Indonesia ensuring the safety of customers.

The majority of Indonesian banks are accessible to foreigners or expats. Provided requirements are given to banking personnel, you will be able to access various banking products to help you manage your financial needs.

Frequently Asked Questions

Can I open an Indonesian bank account remotely, before I arrive?

Plan on doing it in person. Most Indonesian banks want a foreign national at the branch to complete account opening, even where the mobile app is excellent once the account exists. A few digital-first products advertise app-based sign-up, so check the specific product rather than assuming either way.

Do I need an Indonesian phone number to open an account?

Yes, in almost all cases. Banks use an Indonesian mobile number for one-time passwords and mobile banking activation, so pick up a local SIM before your branch visit.

Do I need to apply for the LPS deposit guarantee separately?

No. The guarantee is automatic for any account that meets the 3T conditions above. There is no enrollment and no extra paperwork at your end.

Can I hold both a rupiah account and a US dollar account at the same bank?

Yes. Most banks that serve expats let you open a rupiah account and a separate foreign-currency account under one customer profile, which helps if you are paid or save in a different currency from the one you spend.

What happens if I stop using my Indonesian bank account?

Banks can classify an inactive account as dormant after a period without transactions, then restrict online access or apply a fee until you reactivate it in person. The inactivity window is not standardised across banks, so check your own bank’s terms rather than assuming a fixed number of months.

Can I close my Indonesian bank account after I have left the country?

Policies vary. Some banks allow closure through a power of attorney or by post, others insist on an in-branch visit. Contact your bank before you leave Indonesia rather than assuming you can close it later from abroad.

Which Indonesian bank is best for foreigners?

It depends on where you live and what you need. BCA has the widest ATM network and the most English-friendly app. The state banks (BNI, Bank Mandiri, BRI) have more overseas branches if you want an easier link to accounts abroad. Foreign banks such as OCBC or DBS suit people who already bank with the parent group elsewhere in Asia.

Sources Cited

• Lembaga Penjamin Simpanan (LPS): guaranteed deposits and the 3T conditions
• Direktorat Jenderal Pajak (DJP): NPWP registration
• Otoritas Jasa Keuangan (OJK): Indonesia’s financial services regulator, which licenses and supervises banks
• Bank Indonesia: the central bank