the spock
Hi,I am getting married next year in Bali and those things are not cheap.By the past I used to utilise kangaroo service to transfer significant amounts of money from my Westpac Australia account to my BNI account to pay rents etc however I have found that they seem to have problems lately with new banking regulations and I can't transfer big amounts like before (I think now it is limited to AUD1000).Anyway I did a telegraphic transfer from my new Australian bank which is P&N bank to my BNI account and P&N bank charged me $45 for the transaction fee in IDR which is ridiculous.I saw some recent news forbidding the possession of foreign currencies bank accounts in Indonesia.What do you use these days now Kangaroo service is more limited?I heard Commonwealth bank waives the fees if we have 2 accounts in Indonesia/Oz?Do you use Paypal?Cheers.
davita
Hi,I saw some recent news forbidding the possession of foreign currencies bank accounts in Indonesia.What do you use these days now Kangaroo service is more limited?I heard Commonwealth bank waives the fees if we have 2 accounts in Indonesia/Oz?Do you use Paypal?Cheers.[/QUOTE]FWIW....I hold accounts in US$; UKP; CDN$ in HSBC Jakarta and can internet transfer from HSBC accounts, in those other countries, free of charge. I then exchange to IDR, when the exchange rate is favorable, with a telephone call to my relationship manager in Jakarta. It needs to be a Premier Account to be free. This requires a deposit retained in any HSBC account worldwide.Is there an HSBC bank in Australia?edit. Just realized I cancelled my US$ account as the USA demanded that all US$ accounts overseas be scrutenized for tax evadors...whether US citizen or not. I had to submit a notarized document to say I was NOT a US citizen....so I subsequently cancelled my US account.
Normy
@ Spock. I user world remit. It takes a bit of effort setting up the initial account. Banking security regulations are getting more difficult. The daily limit at my OZ bank is quite small. Think fee was about $20 for about $5000. Usually same or next day to an Indo account. I get blocked transferring direct from my OZ account to the Indo account as the last stage of the process involves the receipt of a 'token sms' which contains a 1 off number which you must enter . Problem is bank sends it to my OZ mobile phone. I don't enable roaming. Don't try Western Union as very expensive. Also give paypal a miss as you can only send cash to someone who has a paypal account and then must be transferred to an OZ bank account. Not much use when the recipient is outside OZ.
Markit
I disagree - Paypal is an alternative. We have a paypal account in our "home" country that is attached to that bank account and also one in Indonesia that is attached to our bank account here. You can transfer from your "home" account to your "home" paypal account and then transfer between your paypals and then down again to your Indo account all per internet. Would suggest US dollars all the way but PP won't transfer dollars to an Indo account and give a fairly shatty rate of exchange but WTF the Rupe hit 13800 today so how greedy do you need to be?
ronb
I have Commonwealth accounts in oz and Indonesia and they don't waive fees. They charge $22 for a transfer and then provide an exchange rate to Rupiah which is not as good as some other banks or exchanges. So I started using Bamboo Exchange - similar to Kangaroo but with lower fee ($5) and very good exchange rate. Last April I was transferring $10,000 per day in order to accumulate for a property purchase here. The $10,000 amount was because that was my Internet Banking daily limit to transfer into their Bank of Queensland account. My most recent $10,000 transfer was late June, don't know if anything has changed since then. The guy at Bamboo is Rudi Verdi and I met him when last in Sydney. He has had trouble with the big banks and that is why he moved to Bank of Queensland. In June there was another change so that instead of an same-day transfer into Mandiri, it now takes 1-2 days. He still has same-day into BCA. This money transfer business is constantly being pushed around by regulations designed to prevent so called "money laundering" or transfer of funds to so-called "terrorists". So whatever option you pick - it may change.
sherm
I had Chase bank account here in the US and was able to withdraw from certain ATMs since has offices in Indonesia with no ATM fee. I do not know if this is still possible but it was. I was told I could get IDR at branch office too but never had the need.I felt rate of exchange was fair.
the spock
Hi ronb Looks like bamboo is finished now. [url=http://www.bambooexchange.com.au]Money transfer from Australia to Indonesia | Bamboo Exchange[/url]
Fred2
Bamboo ExchangeANNOUNCEMENTSBank Account ClosureDue to Closure of our last Bank Account, we will suspend our money transfer service from 15th of July 2015.Last day of transfer is 14th of July 2015Thank you for Trusting us and being our loyal customer since 2009.THANK YOU!
ronb
Sad to see this happen. There had been signs - so not totally surprised. So for now, it will be back to Commbank transfers I guess.The statement from Kangaroo is at [url=http://www.kangaroo-service.com/information/changes-to-kangaroo-service.html]IMPORTANT - Changes to Kangaroo Service[/url] so they are still operating but with the $1,000 per day limit.
matsaleh
Saw this one advertised on a FB page today. Has anyone used this service?[URL]https://transferwise.com/[/URL]
Nydave
I believe I researched that same one only last week,and they don't cover Indonesia,
Markit
Yes they do!
Nydave
Actually you are right,to be honest it was one of my guys saw the ad on the train while coming to work one day last week and he checked it out and told and me they don't transfer to Indonesia,i have just checked it myself and you are correct they do transfer from here,it seems to take quite a while before it appears in an account in Ri,and to be honest I really don't understand the whole procedure involved from their website,right now im using Bni Bank,they have a branch here in Ny,and they charge $25 for amounts up to $2,000,and from $2,000 to $50,000 the fee is $35,also the whole transaction is done in one day,i was sending to a $$ account,if I were sending it to a regular Rp account they said there would be no fee as its Bni to Bni,who knows,but Monday my wife got Rp 13,890 per dollar,
Markit
I doubt if the transaction is done in one day - here the BNI say up to 10 working days for the money to land on your account. In actuality it is usually closer to 4/5. Concept is simple - they take the stand that money is going both directions and it is stupid to actually transfer the dosh so punter A sends 1000 to London from Jakarta, punter B sends 22,000,000 IDR to Jakarta from London so they just give punter A's dosh to punter B and vice-versa, then take a small cut. Genial!
Nydave
Yeah it did go thru in one day,i was surprised myself,i went into the bank here in Ny around 2-30 pm as 3pm is the cut off time (after 3pm it wouldn`t be sent until the next day),and it was in the Indo account the next morning,do they have Bni banks in Australia,
Normy
Transfer wise don't support bni or bri. At least not with an Australian account. Just finished talking to them on their chat line. A friend has a bii maybank account, which they don't list. TransferWise have bii and also maybank. Took a chance and sent a small amount for him at bii. Hope it gets to him.
Markit
Money landed on my BNI account - no problem.Maybe you try sending me some money and I'll let you know if it works?
SusanSydney
[url=http://www.smh.com.au/money/saving/nonbanks-give-best-deals-on-international-money-transfers-20150909-gjic8q.html]Non-banks give best deals on international money transfers[/url]The Sydney Morning Herald had an article on this issue the other day, thought some might be interested in it.Me, I don't understand a word of it but I'm sure you all will.
the spock
Had a look into transfer wise website and they don't state anything about AUD to IDR. My bank recommends cash passport, anyone used it?My friend has a CommBank foreign currency account I might set up one. Can't understand I still receive quotes in USD I thought it was not allowed anymore...
Normy
On transfer wise you can transfer aud to rp. I cant find a way to reverse the process and send a specific rp. amount. I usually play around with their conversion rate and send an aud figure which converts to a rp., which is slightly more.@ 17. Transfer got through to 2 people just using their a/c number and bank name. No specific branch. Also was successful transferring from a joint a/c. So I am happy, they are not expensive and transfer is quick.
