Thread: Anyone using Standard Charter for there Business Banking?

Hi All,

I was just wondering if any other Bali Business owners out there use Standard Charter? I will be setting up my business in the coming months and I am starting to look into the Banks.
Couldnt really find any old threads that recommend certain banks for Business Banking.

So if anyone has good/bad experiences with Standard Charter or recommendations to what there business uses that would be awesome!

Thanks in advance
Simon

Originally Posted by spicyayam

I have no experience with them, but I suppose it just depends on what your needs are. Do you need a merchant account, credit card processor and can they provide it?

The advantage you have with using a local bank is a larger number of branches and ATMs and possibly lower fees than a foreign bank.

Thanks Spicyayam for your reply, I think I will need a credit card processor but not at first as my first business is not aimed at Tourists but more at business owners. The others will be though so thanks for that tip (I forgot about that).

I will be keeping my business running in the UK and will be receiving payments from there, but the costs to transfer money from my UK bank to an Indonesian bank is a concern. As Standard Charter are in both the UK and Indonesia I am considering using them for my UK banking and hence making it easier/cheaper to transfer money between UK and Indonesia.
Plus I can have a USA dollar account in the UK with Standard Charter.

I will prob open a personal account with a local bank though because as you rightly point out it will be easier for ATM locations etc...