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Thread: Opening a Bank A/C without a Kitas

  1. #21
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    Default RE: Opening a Bank A/C without a Kitas

    Sounds like I'll have to get married to a Balinese girl and then all my Banking problems will be solved ! Any offers?

  2. #22
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    Default RE: Opening a Bank A/C without a Kitas

    Hi all! We live in England and have a Premier Account with HSBC. Last year we opened a dollar account with HSBC in Surabaya with no problems. But now HSBC premier acc has truly gone global, this means that if you have an account at HSBC England for example, you'll also be recognised as a customer at every branch all over the world! (Before you weren't as HSBC's systems weren't connected between countries)

    Premier Acc means no ATM fees anyway, but now through an acc in England you could even get a mortgage for a property in countries like Indonesia! This is great for people like us who don't have KITAS.

  3. #23
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    Default RE: Opening a Bank A/C without a Kitas

    We have good experience this year. My husband and I opened account in Germany (DKB-Bank) and itīs works: We use Visa plus/Visa Elektron and no fees by ATM transaction. So we donīt need to bring any cash more... ATM with Visa plus or Visa Elektron can we find everywhere in this world.
    I think the other Bank of the word offer this option too...
    "Indonesia: Jauh di mata, dekat di hati"
    Salam-Regards-Saludos-Gruesse
    Dyah Narang-Huth, http://www.ikat-agentur.com

  4. #24
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    Default RE: Opening a Bank A/C without a Kitas

    going back to irma's post ..... is there a hsbc branch in singaraja or depasar ?

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    Default Re: RE: Opening a Bank A/C without a Kitas

    Quote Originally Posted by irma1812
    Hi all! We live in England and have a Premier Account with HSBC. Last year we opened a dollar account with HSBC in Surabaya with no problems. But now HSBC premier acc has truly gone global, this means that if you have an account at HSBC England for example, you'll also be recognised as a customer at every branch all over the world! (Before you weren't as HSBC's systems weren't connected between countries)

    Premier Acc means no ATM fees anyway, but now through an acc in England you could even get a mortgage for a property in countries like Indonesia! This is great for people like us who don't have KITAS.
    Hi Irma - I am not sure if HSBC exist in Den Pasar or Bali but it would be interesting to try to open a US$ a/c with them if they do have a Bali Branch. I wonder if you could also open a Rupiah a/c?

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    Default RE: Opening a Bank A/C without a Kitas

    I called HSBC this morning. There isn't a branch or ATM in Denpasar. I was told that it would be possible to apply for an account in Surabaya from Canada (CAD $150 fee). The representative told me that I could transfer funds on-line or by telephone between the accounts. This is true of all levels of account. Not only Premier.

    This eliminates the necessity of having someone on the ground here to wire funds to me, but I would still be on the hook for network (Cirrus etc) fees to make withdrawals using another institution's ATMs.

    This might work fine for small amounts but we would still need to deposit funds into my wife's account somehow for larger requirements.

    I was also told that the balance requirement for an HSBC Premier account here is CAD $150,000 and in Indonesia is 500 Juta Rp... keep in mind that that is CASH balance and not mixed assets!

    Matur Suksma,
    Bli Gede

  7. #27
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    Default RE: Opening a Bank A/C without a Kitas

    HSBC in Surabaya seems to have different rules than their branch in Jakarta. When I called them last May, they required a kitas visa to open a local account eventhough I keep a US HSBC account however not a Premier... can't exactly afford to maintain half a billion rupiah in a cash account and if I could I certainly wouldn't want to keep that kind of money on a cash account.

  8. #28
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    Default RE: Opening a Bank A/C without a Kitas

    Unfortunately there's no HSBC branch in Bali yet, but you can use any CIRRUS ATMs all over the world anyway, so don't worry about not having HSBC own ATMs.

    At HSBC England if you don't have a big enough investment you can also get Premier acc by paying Ģ19.99 p/m fee if you have a mortgage of min Ģ100k with them. The great thing about Premier acc is the fact that it has gone truly global like I said in my previous post.

    By the way Bli Gede, yes you could transfer funds between accs without having Premier acc, however it costs Ģ21 per transaction from England! With Premier acc it's free! If you do this regularly it all adds up!

    "Balance requirement for an HSBC Premier account in Canada is CAD $150,000 and in Indonesia is 500 Juta Rp": we don't have Rp500 juta in Indonesia acc, they basically took our investment at HSBC UK into account. So we don't even have to pay the fee for Premier acc in Indonesia either! :)

  9. #29
    Laj
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    Default RE: Opening a Bank A/C without a Kitas

    Maybe I can give some background as to why you will find it difficult/impossible to open a Rupiah Bank A/C in Indonesia without a KITAS. The very simple reason is that Bank Indonesia (BI, the Central Bank of Indonesia) has FORBIDDEN it.

    Early 2001 BI has introduced some rules to try to limit Rupiah / foreign currency speculation. Overnight the Central Bank introduced a set of foreign exchange restrictions which allowed certain foreign exchange transactions with non-residents only in case these transactions were covered by transactions in the real economy (e.g. import/export, investment in Indonesia etc.). One of the main and ultimately very effective measures was to prohibit Rupiah A/C for non-residents. Since this measure is as far as I know still valid today, non-resident companies, banks and natural persons are not allowed to open a Rupiah account with a bank, foreign or Indonesian, in Indonesia. Only residents are allowed to open a savings or current account in Rupiah. If you have a KITAS, stay permit, retirement visa you qualify as a resident. There are no restrictions for non-residents as to opening a foreign currency account with a bank in Indonesia.

    As I was working for a foreign bank in Jakarta at that time, I remember the introduction of this regulation quite well. Typically BI announced these foreign exchange restrictions retro-actively and with Draconian penalties for any bank not obeying the rules. Panic all around, because of course most banks (foreign and Indonesian) were involved in Rupiah speculation and almost all banks were caught with their pants down. If the penalties had gone through on the day of introduction of those forex measures, many banks would have been 'bankrut' instantly. Of course that is not what BI intended, but it did serve the purpose of bringing the message home, loud and clear.

    Of course Indonesia being Indonesia, even the impossible is possible. I think in another thread Jimbo mentioned that he has been able to open a Rupiah account, even when he is a non-resident. Obviously bank-employees can make mistakes, either as a true accident or on purpose. (Being a resident or not is probably just one flag of many in the customer file in their computer system.) However, Bank Indonesia is not an institution the banks in Indonesia like to fool around with, especially not when they run a financial risk in doing so. I therefore doubt that as a non-resident you will be able to find a bank willing to open a Rupiah account for you, unless they are stupid or an extremely good friend. Your best chances are when they are both.

    Hope this helps.

  10. #30
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    Default RE: Opening a Bank A/C without a Kitas

    Thanks Laj, that's the clearest answer I've heard to the question, ever. It explains alot.

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