Banking Questions

Roy

Well Bert, you know bloody well that most 5th graders can run circles around me when it comes to computer stuff. For years I always felt that a mega bite was a joke on me based on my eating habits! :shock:

seanblist20

Because of the sudden increase of debt, Banks became more cautious in extending credit, making it more difficult for people to borrow. Consumer borrowing was up $16.2 billion in Jan, according to economic experts surveyed by Bloomberg. This followed a December where revolving and non-revolving consumer credit situations were up by $15.1 billion.

Markit

It really is possible to get 2, read it TWO, wankers on the same page. It only took 6 years. Anyone wanna raise me 1 wanker?

SamD

Markit wroteIt really is possible to get 2, read it TWO, wankers on the same page. It only took 6 years. Anyone wanna raise me 1 wanker?

I see your wanker, and raise you one tosser. Replying to 6 year-old posts is odd enough, but the utter banality and pointlessness of the posts are what intrigue me. What on earth is he on about?

Jade

Hi everyone, I am very new to the forum, have done lots of reading on banking but have some question that I'm hoping you can help with. My partner and are relocating from Australia to Bali at the end of the year, we will be coming in on a social visa. Do we need to have an Indonesian bank account to lease a house/villa and pay for things like internet bills etc? Can we even open an Indonesian bank account without a kitas visa? Thankyou for your help!

Normy

All depends on the accommodation cost involved. Some owners will rent 1 year at a time. You could both bring in aud 10000, or more if you complete paperwork at airport when leaving. If you are considering buying a lease this will be in many 100000s, depending on location. To big an amount to bring in cash. To transfer funds from your oz banks you would need Indonesian bank account, or someone local you can trust to use their account. Some banks will open savings account using a social visa. Usually need someone who has an account at that bank to help you. I opened an a/c Monday. All bills can be paid in cash, some at post offices or banks

Jade

Ok thankyou, so you can't do large transfers from an Australian account to an Indonesian account, say for a 1 year least payment? I would need to have an Indonesian account for this?

Jade

Thanks markit,what I meant was that I'm assuming I can't pay for a 1 year lease from an Australian bank account (ours) into the landlords Indonesian bank account. Good to know we can open an Indonesian account.

davita

Jade wroteThanks markit,what I meant was that I'm assuming I can't pay for a 1 year lease from an Australian bank account (ours) into the landlords Indonesian bank account. Good to know we can open an Indonesian account.

There's no reason you cannot transfer from your Australian account to you landlord's account in RI. You will need to establish the rate used to buy the Rupiah to get the correct figure...and sometimes the bank rate is not as good as money transfers, even including the charges. When I bought our villa in Bali I transferred the funds from Canada to the builder's account in RI. edit: I think that, depending the amount transferred, the bank may need a signed affidavit declaring the purpose of the funds.

Markit

Jade wroteOk thankyou, so you can't do large transfers [COLOR=#ff0000]from an Australian account[/COLOR] [B][I][COLOR=#0000cd]to[/COLOR][/I][/B] an [COLOR=#ff0000]Indonesian account[/COLOR], say for a 1 year least payment? I would need to have an Indonesian account for this?

Huh? You might wanna check that out...? You can get an Indo bank account at many banks here without needing a special visa - BMI for one - you will need someone with an account at that bank to vouch for your good character or at the least say he knows you. Make sure you go for the online banking option that makes transfers much easier - at least checking that the dosh has actually landed and then transferring it around to pay your bills. To get the money here you will need to talk with your home bank after you've done the deed here so they have a number/bank addy/etc for the target. Try with a small amount first to make sure all is greased and ready then tally ho!

Markit

A signed ape-of-david? You must be kidding? A few years ago I transferred 800,000,000.00 Rupiah in one shot - BNI bank calls my up "halo Mr. Mark what money for?". Mr. Mark "to build house" ... "OK, thank you Mr. Mark, have nice day!"

davita

Markit wroteA signed ape-of-david? You must be kidding? A few years ago I transferred 800,000,000.00 Rupiah in one shot - BNI bank calls my up "halo Mr. Mark what money for?". Mr. Mark "to build house" ... "OK, thank you Mr. Mark, have nice day!"

That's why I said 'may'. I cannot remember if a signature, or a simple declaration, was required. It was an afterthought to the OP to be prepared.

Normy

I guess it depends which bank you are with. Some are very cautious. I had money sent from oz to local business womens account. Had to get a letter from the notaris indicating funds for 3 years rental contract before allowing her to pass cash to me and then to owner (who had account at same bank) all to do with money laundering. Must have thought I was head of ozzie mafia.

DenpasarHouse

Do we need to have an Indonesian bank account to lease a house/villa and pay for things like internet bills etc?

There's these 2 services you can use that will accept your money into their Australian bank account and then they'll transfer the appropriate amount of rupiah into any Indonesian bank account you name. Usually on the same day. http://www.kangaroo-service.com :: Kanggaru.net :: After checking out all the options a few years ago, I found that these guys gave the best rate of exchange. The only rate better than them was to physically bring the money with you and change it at one of the money changers. Although, that obviously has a lot of risk involved. I've used the second one many times without a problem. I hope that helps.

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