How to Open a Bank Account in Indonesia

Both natural and legal persons are entitled to open a bank account in Indonesia.

In Indonesia, there are three commonly used bank accounts, namely saving, checking, and deposits accounts.

Savings account

• Frequently used account that allows real-time transfers.
• ATM card

Checking account

• Payments via checks or giro (demand deposit)
• Delayed payment by retroactive checks

Deposit account

• Higher interest rates
• Deposits are withdrawn based on an agreement between a client and bank

A. How to Open a Bank Account in Indonesia

Corporate Entity

Opening a corporate bank account is required to form a foreign company. To handle foreign currencies, the account must be opened with a bank that is licensed as a Foreign-Exchanged Bank or Bank Devisa.

Although most banks allow you to open a bank account after your company registration is complete, you can also open a bank account during the process. Regrettably, not all banks offer this service.

Foreign Individual

Different banks have different requirements, but a stay permit (temporary or permanent) is required. Foreign individuals in Indonesia are only permitted to open bank accounts with ITAS or ITAP. In-depth knowledge of Indonesian regulations is essential because, in addition to ITAS or ITAP, you will also have to prepare supporting documents.

B. Open a Bank Account in Indonesia with Abisnis

In addition to opening bank accounts in Indonesia for foreign citizens and legal entities, Abisnis can help with the following services that require a personalized approach.

Registration of a Corporate Account from Overseas

It is possible to open a bank account while traveling in another country thanks to our collaboration with several banking institutions. Abisnis will act on our client’s behalf and open an account once the necessary documents are provided.

Open a Bank Account in Indonesia before Company Registration

To save time, Abisnis is available to work on behalf of customers and open a business bank account while the establishment of a foreign-owned company is completed.

Non-Resident Bank Account

Tourists and non-taxpayers can also open a bank account in Indonesia. Even though these accounts are in high demand, particularly in tourist areas such as Bali, many banks refuse to provide this service. Abisnis will not only recommend banking institutions but will also assist with the setup. We will also consider the advantages and disadvantages of all available accounts, such as:

• maximum USD 50,000 balance
• a balance of USD 50,000 and above
• a large balance exceeding USD 1,000,000