Bali Expat Forum - Bali Travel Forum

Grastaman,

Sounds like an interesting alternative. I've been trying to find a way to open an account here in the UK that will allow me to have dollars, pounds, euros, anything but rups when we get to Bali because of the large difference in exchange rates between the banks (bad) and the money changers (good, or at least better than the banks). Now you're saying that it's possible to have a direct account (dollars, pounds, etc.) with the money changers? If they were reasonably dependable that sounds like the best option to have. Any chance of some contact information so I can check up myself?

Thanks in advance.

maybe try one of the larger ones like CV Kuta Central... i think its on Jln Raya Kuta (?). sorry, im not in Bali now, but its along the main business strip in Kuta (not the beach strip).

a word of caution: they are not guaranteed. they dont speak much english. that said, the mechanism has worked for me so far in that i am able to TT money in, transfer money out via fax instructions, withdraw money with "checks", and earn interest. as far as i know they have usd (6%) and IDR (12% intr pa).

these guys have a sizeable building office - i guess best to check when you are in Bali. i would guess that a few of the larger money changers do it.

2½ years after Bert’s post of Feb 2005 which said “I think BCA and BII are pretty easy, where BCA has more ATM's available” ………

BII ATM Network in Bali
• BII does have a lousy ATM network in Bali
• But, within Bali/Indonesia BII account holders can use the ATMs of the following banks at nil cost
1. Permata Bank
2. Panin
3. Danamon
4. Bukopin
5. Haga Bank
6. Lippo
7. Ekonomi
8. Kesawan
9. Bank Buana Indonesia
• Look for the “Alto” sign on the ATM

ATMs For BII Account Holders Outside Indonesia
• Outside Indonesia BII account holders can use ATMs displaying “Cirus”
• I’m currently doing this in Thailand
• My account is charged Rp25,000, regardless of the size of the withdrawal

I have been to the BCA Singaraja this morning to enquire about opening an account for an australian friend. I was told it is not possible in his name if he does not have a Kitas. At this moment he is in the procedure of having a house build.
Any suggestions?

Hello all. I'm back in Perth after 8 weeks in Sanur. First week home was depressing, but hey I have to earn the money to spend when I go back to Bali !! I went to the Commonwealth Bank in Denpasar and they informed me all you need is a letter from your bank in Oz to say you have an account and you can open one in Bali. I'll be doing that for my three month trip next year. Plus they have ATM's in quite a few locations. Only costs $1.50 to withdraw, and you can withdraw more than most ATM's.

Sorry, is it me? Does this make sense to anyone else? The 3 last posts all seem to contradict each other...

Don't misunderstand me - I don't blame the posters but isn't there any way to get a definitive answer on this?

Maybe from some official source - I know, "don't ask and we won't have to lie to you" but there must be a way around this bureaucratic BS?

There are thousands of expats that live and bank daily in Bali - be brave, go for it and tell us wannabes what's up - Jesus, we aint the IRS and they got better things to do than hang around on Bali expat forums.

Sooze - what bank where you at and does the letter need to be from its associated bank in OZ? - more info would be good.

Markit wrote: ...but isn't there any way to get a definitive answer on this?

Experience has taught me that there are no "definitive answers" for any bureaucratic actions in Indonesia. Everything depends on who you speak to at the time, who you know in the right places (or someone who knows someone, etc) and how much you're willing to pay.

Markit, throw away you're western ideas of "having to know everything up front" or you will go crazy. When you get to Bali, talk to local people, ask lots of questions. Eventually, it will all fall into place.

Matsaleh what a week to give up cocaine snorting (in the immortal words of Lloyd Bridges in Airplane).

If what you said were true then no ones money or land or house or car or motorbike or dog..... would be safe in any bank or other institution because your personal ownership of these things could be disputed by anyone with more money to bribe or "encourage" with than you had at that time.

These things do work in SE Asia just differently - and it's that difference I'm trying to get at.

I'll be that you have a bank account when you are in Bali - how? where? what did you have to do to get it? You know people that have them - what can you say about that?

If this is more than you feel you can tell then OK, but please don't cut the discussion off with the "wait until you get to Bali" - I thought that one of the reasons that this forum exists was to enable the free exchange of information between expats, natives and those who want to be.

Let the exchange begin!

[quote="Markit"]Matsaleh what a week to give up cocaine snorting (in the immortal words of Lloyd Bridges in Airplane).

Ha ha, I like your humour Markit. I think you will need it once you get to Bali. I know a few expats in Bali and they definitely keep their cards close to their chest. I just figure they are doing something their visa doesn't allow and leave it at that.

I tend to agree with Mats

A friend opened an account with a bank in Ubud with just a passport Two days later I walked in and tried to do the same.

Sorry not allowed. After much explaining that my friend did this very thing two days ago I got nowhere.

"We know nothing and a shrug of the shoulders, and a polite smile, but no I did not get my account.

Unfortunately I did not speak Bahasa Indonesian at that stage so got nowhere.

Markit you want it straight so here goes.

1. If you have a kitas you CAN open a bank account for sure

2. No Kitas no bank account at a local level

3. Your bank may be able to help you open a dollar account

4. Your friends in Bali may be able to help you open a bank account.

The main reason folks here hedge there bets is because they are not experts and can only go on experience which is why you get so many conflicting sources. We all try and help where we can but this is not just a forum to answer questions. If you do not like the answers kindly do your own research and then you can answer the next person who asks this question.

Markit wrote: Matsaleh what a week to give up cocaine snorting (in the immortal words of Lloyd Bridges in Airplane).

Now this made me laugh.

Markit wrote:I'll be(t) that you have a bank account when you are in Bali - how? where? what did you have to do to get it? You know people that have them - what can you say about that?

Markit, I don't have a bank account in Bali as I haven't found a bank that will give me an account without KITAS. What I do is transfer funds to my Visa card before I go and then withdraw over the counter. As most ATMs will only allow withdrawals of Rp1.5M or Rp2M per transaction, it's far more economical to withdraw say, Rp10 or Rp20M at a time over the counter. Only one transaction fee and my bank charges 1 percent currency uplift. So far, I've found the rate (including the 1 percent) to be comparable with street rate.

Markit wrote:If this is more than you feel you can tell then OK, but please don't cut the discussion off with the "wait until you get to Bali" - I thought that one of the reasons that this forum exists was to enable the free exchange of information between expats, natives and those who want to be.

I can assure you I wasn't trying to "cut the discussion off", only offering a suggestion from my own experience. I learned so much from this forum before arriving in Bali, BUT I learned a WHOLE LOT MORE from talking to locals.

Let the exchange begin!

Hear hear!

Jimbo wrote:The main reason folks here hedge there bets is because they are not experts and can only go on experience which is why you get so many conflicting sources. We all try and help where we can but this is not just a forum to answer questions. If you do not like the answers kindly do your own research and then you can answer the next person who asks this question.

I couldn't have said it better, Jimbo!

Hi all
I have had a account with the Panin Bank for the past 4 years and they couldnt be more helpfull, I send money from oz fairly regular and they havent missed a beat the staff are friendly and position of bank is great

Welcome to the forum psheppo!

Apparently the rules have changed since you opened your account. It seems that Indonesian banks are prohibited from opening IDR accounts for foreigners. According to another forum member working in banking in Indonesia, Laj, the regulations are designed to limit currency speculation.

In any case Panin has a partnership with ANZ bank which allows foreigners to open IDR accounts. I'm not sure how that fits in with the restrictions that Laj talked about. Panin has also been mentioned a couple of times by another forum member, Marcel, who said he opened an account recently without a kitas. I'm not sure if that was through ANZ-Panin or Panin.

Anyone interested in ANZ-Panin can see their fees and charges here: http://www.anz.com/Indonesia/english/feesandcharges.asp