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How to Open a Bank Account in Indonesia

02 September, 2014

Bank Account in Indonesia – One of the critical things for companies or foreigner investors wanting invest in Indonesia is opening of bank account. First thing is to understand process of opening and what type of accounts exists. There are checking accounts, savings and deposits account, so in total 3 types commonly used accounts. There are many banks in Indonesia, many of them offer foreigner currency saving (mostly in US$), checking accounts, deposits and also credit and debit cards associated with accounts.

What are the requirements to open a bank account in Indonesia?

To register an account you will be asked for letters of reference from employer or sponsor, copies of passport and temporary stay permit (KIMS, KITAS card) or permanent resident license (KITAP). For some of bank will be on the other hand a reference from previous bank enough. For company account you will be asked for Tax Registration Number of your company, and a letter issued by a company verifying that Indonesian income tax is paid might be required for checking accounts. Most of banks also require maintaining a minimum deposit in order to open a personal account in US$. However, there are some companies who run a system to write a personal check from home account, and the Rupiah cash will be issued by the company.

Company accounts choice sticks usually with selection of a checking account. It is making things easier for company, because there will be a report from the related bank, which can be used to track financial transactions. In addition, it also can be used in checking accounts payable – receivable transaction applies backward (demand deposits or giro can be withdrawn on a certain date) and to facilitate cash management for the company.

The advantages of each type of bank accounts commonly used in Indonesia:

Checking account

  • Possibility to make a payment using check or demand deposit (giro)
  • Ability to delay the payment by check backwards

Deposits account

  • Interest on deposits is higher than the savings account,
  • Deposits are withdrawn in accordance with the agreement with the bank customers ,
  • Can be transferable ( certificates of deposit )

Saving account

  • Can be used as a tool to transfer and debit facilities
  • Can be used as a tool for ATM facility
  • As a tool for amassing wealth

Common requirements to open a bank account for foreigners-

Opening if an Individual Account :

  • 21 years older or married
  • Complete and sign the application form along with supporting documents
  • Submit the copies of identity card ( ID / Passport and KIMS / Permits )
  • 4 × 6 photograph

Initial deposit :
IDR 1.000.000, USD 1.000, EUR 1.000, GBP 1.000,SGD 2.500, AUD 2.000, JPY 150.000, HKD 10.000, CHF 2.000

Company Account Opening :

  • NPWP (tax registration number), Business License,TDP (company registration) and the Certificate of incorporation
  • Complete and sign the application form along with supporting documents
  • Submit the copies of identity card ( ID / Passport and KIMS / Permits authorized officer ),

To open a bank account it can be done in about a day together with the debit card (ATM). In many cases banks request a minimum deposit to open an account. Similar documents will be required for credit card application. 

About the Author


Cekindo is market-entry consulting firm operating across Indonesia (Jakarta, Bali, Semarang). We provide one-stop solutions assisting foreign entities and entrepreneurs from various industries to successfully expand their market to Indonesia and beyond. Our main goal is to help you to focus on your business while we handle huge scope of HR, financial and legal services. Cekindo will assist you in setting up your business in Indonesia, supporting your daily operations and administrations, and representing your company in Indonesia.

PT. Cekindo Bisnis Grup, Business Park Kebon Jeruk, Blok H1-2
Jl. Raya Meruya Ilir No.88
Jakarta Barat 11620, Indonesia
Phone: +622180660999, Fax: +622180660901, Email: info@cekindo.com, Website: www.cekindo.com


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