freeman
When I moved to Indonesia I transferred money from my Australian account to my Indonesian Danamon account. I have moved back to Australia but still have money left in my Indonesian account (in rupiah). I want to transfer it back to my bank account in Australia. It is too large an amount to do via ATM withdrawals and, in any case, that would be far too expensive to do due to fees and poor conversion rates. Danamon Bank had previously told me that I could do this simply via internet transfer using their token device from overseas. But now I am back in Australia and trying to do the transfer, I have found that it won't work, and when I phone their customer service and explain the problem they just say "it can't be done". Does any one know what the problem might be? Are there foreign currency restrictions in place in Indonesia to prevent foreigners withdrawing their money from the country? If so how does one get around this to get ones money back to Australia?
Markit
Rumour has it that you can transfer only $100,000.00 per month but as I said - rumour.
Smoke
I have been told ( as a SOSbud holder) I can only wire in (usd or rupiah maximun of 500,000,000. Rupiah per week ..You can do wire transfers from your indo bank only in person( as you have to sign a few forms) best to ask your banker on Gross amount you allowed to wire out ? Wire transfer was only about 65,000 rupiah going out in usd to hong kong for $8,000. USD and they waived all incoming fees for me since I a proirity customer (also a Higher conversion rate is given
Jaltona
If so how does one get around this to get ones money back to Australia?[/QUOTE]Let me withdraw it for you, and then I'll send it to you. Promise.
gilbert de jong
as far as I know...the banks can't (not allowed by law) transfer rupiah's to overseas banks...that's why the contract (when opening bankaccount) mentions "equivalent of xxx rupiah per day is allowed to transfer"...
Markit
as far as I know...the banks can't (not allowed by law) transfer rupiah's to overseas banks...that's why the contract (when opening bankaccount) mentions "equivalent of xxx rupiah per day is allowed to transfer"...[/QUOTE]But does this law mean that the Indo bank can't exchange my/you/our Rupiah for dollars and then transfer them?
gilbert de jong
no...they (the bank) can change your rupiah's into USD and then transfer USD (that's why I have a USD and Rupiah account)....I have no idea how one would go about to transfer AUD from Indonesia to Australia via bankaccounts, have never seen the possibility of an AUD-account at an Indonesian bank, but I have also never looked for an AUD-account...an option would be to transfer rupiah to Kanggaru (for example), and have them transfer AUD..seems there is no min/max amount that they can transfer, the cost per transfer is only 10 AUD...conversionrates from rupiah to AUD seems also to be reasonably good..
davita
I have HSBC Premier Acounts in Canada; Hong Kong; Malaysia; UK and Indonesia. The one in Jakarta has USD; CDN$ and GBP separate accounts and I freely e-transfer into those accounts and wait for an agreeable rate to transfer to Rupiah. I can also buy USD; CDN$ and GBP from the Rp account and freely e-transfer back.Cannot help with the AUD question as I've no AUD account.The Rupiah [B]is[/B] a convertible currency but I doubt any foreign bank will accept them as the currency is considered too volatile and risky. That is presumably why B.I. is using swops (Rp to Yen) to bulk up their foreign deposits. The main reason the Rp has lost over 20% value in 2013 is because of the outlow of USD deposits which the nation needs to pay bills.The good news is the B.I. yesterday declared the bank rate remains at 7.5% due to recent increase in the Balance of Payment situation.
freeman
no...they (the bank) can change your rupiah's into USD and then transfer USD (that's why I have a USD and Rupiah account)....I have no idea how one would go about to transfer AUD from Indonesia to Australia via bankaccounts, have never seen the possibility of an AUD-account at an Indonesian bank, but I have also never looked for an AUD-account...an option would be to transfer rupiah to Kanggaru (for example), and have them transfer AUD..seems there is no min/max amount that they can transfer, the cost per transfer is only 10 AUD...conversionrates from rupiah to AUD seems also to be reasonably good..[/QUOTE]Yes, that was the procedure initially recommended to me by the Bank. I have both an IDR and an AUD account at Danamon. I was supposed to transfer the money from my IDR account to my AUD account first, then transfer the AUD to my Australian account. But their internet banking system won't allow it and now their telephone Customer Service people just tell me it can't be done without explaining why. I can't get the staff at the branch who originally gave me the advice to take any responsibility for it now, even though I know them personally. If anyone lives close to Danamon Bank in Diponegoro, Denpasar and could go in and ask them how a customer would go about this transaction and then let me know it'd be mighty appreciated - maybe even rewarded if it works!
Smoke
I think a wire transfer you need to sign papers in the sending bank. Maybe look at Western Union ( I used them for a bit till the suspened my account for alledged Money Laundring )
ferdie
I think for overseas transfer, they still required you to actually signed it in a piece of paper (wire transfer form)Had my experience doing that kind of transfer for years in Jakarta using Citibank, HSBC and MandiriMy boss used to leave behind a signed form when he is abroad but that kind of trust is rare with everyone, maybe you could get someone to do it also?Just leave a signed form with the account numbers written already so the transfer can only be done to that specific account as a precaution, of course it should be someone listed/authorized already to process the transfer in the bank
gilbert de jong
@freeman...after reading your initial post again I noticed this, "using their token device from overseas"....and wanted to ask you : Does that device work overseas? if it works, then I can not imagine what could be the problem and keeps you from transferring between rupiah account and aud account...if no one else has an answer before tomorrow, I will swing by danamon in singaraja and ask there.
Markit
I think what freeman means is the little pin/ID validation calculator thingy that generates a new pin number when you log onto the bank website. Unusually, I might be wrong though.
Smoke
I think what freeman means is the little pin/ID validation calculator thingy that generates a new pin number when you log onto the bank website. Unusually, I might be wrong though.[/QUOTE] to change your pin number on you ATM card you must visit the bank , To change your user password on your online account you can reset that password anytime from anywhere in the world
gilbert de jong
to change your pin number on you ATM card you must visit the bank , To change your user password on your online account you can reset that password anytime from anywhere in the world[/QUOTE]smoke...think you have had enough bintangs with cheese for today :tranquillity:@markit, yes you are right about that validation/TAN-code generator (not electricity smoke), I was wondering if that thing would work overseas...@freeman, sorry but bank was not open, national holiday..will try to go there tomorrow though...sabar :)
ferdie
The pin generator works fine in my opinion no matter where you used them.My brother has one that he used regularly from Texas.The problem lies with the transfer to overseas account in my opinion :fatigue:
gilbert de jong
I am sorry freeman, but at the Danamon she could not give me a solution to your problem..She showed me the following webpage on her tablet [url=http://www.danamon.co.id/Home/YourPersonalFinance/Payments/ElectronicBanking/InternetBanking/tabid/158/language/en-US/Default.aspx]Internet Banking[/url]From that link I copy-paste the following :The services and support provided are:Account balance enquiry and transaction historyFunds transfer within Danamon accounts (same currency) and to other bank's accounts (Online - ATM Bersama/ALTO, LLG, RTGS - IDR only)
ronb
I have Internet banking for BCA, Mandiri, and Commonwealth (Indonesia). Of these, only Commonwealth has an option for International transfer and requires SWIFT code (and will help you find the code given the banks location and name) account number and name. It also has an option for transferring to Aussie banks where you just need the BSB number commonly used there. But I have not done any international transfers myself so not sure what currencies you can use, and what limits apply.
freeman
Okay the issue has been resolved, thanks everyone. I don't know what the problem is at Danamon. I was unable to get any assistance whatsoever from them, which is disappointing because otherwise I have found them to be quite a good banking service while I lived in Bali. Personal, friendly and competitive rates. But they let me down this time now that I am back home in Australia by leaving me in the lurch and not solving this problem for me. Several people recommended to Kangaroo Service to me, so I explored it a bit and have found my solution with them.I set up an account with Kangaroo Service. Initially there was a bit of confusion and they refused to register me because the registration form supplied on the website is apparently only for money transfers from Australia to Indonesia, not the other way around. So eventually they sent me the correct registration form for transfers from Indonesia to Australia and I sent through a small test transfer. It just came through in my bank account now and I can say it happened same day and at the promised $2 fee, so I'm pretty happy with that. So I think we can now rest assured that non residents can still perform an outward funds transfer via internet banking, despite the law change on 1st January 2014. This law change only changes the banks' reporting obligations as far as I can tell, and does not impose currency transfer restrictions. I hope this helps.
