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Andi Refandi
Andi serves as a Senior Account Executive on Emerhub’s global team.
Did you move to Indonesia recently? Having a local bank account is a must. It helps to avoid the additional transaction fees associated with an overseas account and makes it easier to manage your finances.
In this article, we will guide you through the process of opening a bank account in Indonesia as a foreigner with or without KITAS (temporary residence permit).
Can foreigners open a bank account in Indonesia?
Yes, it is possible to open a bank account in Indonesia as a foreigner. However, If you don’t have KITAS, Emerhub can help you open a bank account in Bali because of our longstanding cooperation with the banks.
With KITAS or KITAP (permanent residence permit), opening a bank account is much easier and you can do it anywhere in Indonesia.
Opening a bank account in Indonesia with KITAS
Following are the standard documents required to open a bank account in Indonesia as a foreigner:
- A valid ID or Passport
- KITAS/ KITAP
- Proof of address
- Tax Identification Number (NPWP)
- An initial deposit of $100 for a USD account or IDR 1,000,000 for a local currency account
Along with these documents, the banks can also ask for additional documents such as an employment letter or a letter of recommendation from your employer.
Process of opening a personal bank account in Indonesia as a foreigner
To open a bank account in Indonesia as a foreigner, here are the steps you must follow:
- Gather all the necessary documents such as Passport, KITAS, NPWP, etc.
- There are several local and international banks in Indonesia such as Mandiri, BCA, PermataBank, BRI, Standard Chartered, and HSBC. Visit your preferred bank and fill out the application form.
- Make the initial deposit to activate your account. By the time your account is active, you will also receive your Indonesian bank account number.
- Collect your ATM card and checkbook.
- Download the official app on your mobile device to set up internet banking.
Keep in mind that not all banks have staff that speak English fluently. So, if you are not comfortable with Indonesian, bring an interpreter with you. In case you are unable to find an interpreter, try visiting the main branch or the head office of the bank.
How to open a bank account in Indonesia without KITAS
Banks in Indonesia are hesitant to open accounts for foreigners without KITAS to avoid the risks associated with non-resident banking and to comply with anti-money laundering laws. That makes it difficult for foreigners without KITAS to open a bank account.
At the same time, processing KITAS can take six to ten weeks.
The good news is that Emerhub has developed an alternate solution that helps international visitors and expats without KITAS to open a bank account in Bali.
Emerhub’s special arrangement with banks for opening a bank account without KITAS
Emerhub has cooperations with several Indonesian banks in Bali. With Emerhub’s recommendation, a non-resident can open a bank account without having a residence permit in Indonesia.
When opening your bank account in Indonesia without KITAS, the Emerhub team will arrange a meeting in our office. Necessary documentation is prepared and signed by the bank in advance. This also helps to avoid the language barrier in case you don’t speak Indonesian.
For foreigners residing overseas, it is also possible to open a bank account remotely. For that, you can send us your signed documents via post. However, authentication is required in the bank on the spot to enable Internet banking for your new account.
Also read: How to Open a Corporate Bank Account in Indonesia
Opening a bank account in Indonesia without KITAS is possible but it requires some extra steps. For personalized assistance and seamless bank account opening without KITAS, please get in touch with the Emerhub team.
Our experts can consult on documentation, liaise with partner banks, and help kickstart your Indonesian banking within days.
If you plan to live and work in Bali, or perhaps move to Bali with family, we also have an extended plan that can help with that. Just fill out the form below, and we’ll get in touch with you quickly to help make your transition smooth and hassle-free.
