Bank accounts

[Claire Quinn]

Hello,
I am coming to Bali for 6 months or more in April and I would like to know if it is okay to open a bank account in Bali.

Thanks

Claire

 

[Bert Vierstra]

Sure, no problem.

I think BCA and BII are pretty easy, where BCA has more ATM's available.

Just take your passport and some money.

CitiBank and ABN AMRO ask for a minimum balance of 50 million rupiah's, BCA and BII don't.

 

[Petenjo]

Does it matter what currency? US$, AUD$ etc?

 

[sander]

Hmm, I tried to open a bank account. I have a multiple entry business visa. In BNI, Danamon and Mandiri they all asked for a kitas or a balinese KTP. Next bank I went to is Permata, they allowed me to open a account with a passport.

 

[Sanurian]

I tried to open a BCA account in Sanur a few months ago. They told me I had to have a KITAS.

A very close friend of mine (and long-term resident in Bali), uses a Dutch (?) International bank in Denpasar. He's found it relatively more efficient than local banks. I don't have the details at hand but if anyone is interested, let me know and I'll dig them out of my computer. There is a minimum opening deposit of about USD 2,000 (I think). It might be less.

 

[FreoGirl]

BCA do ask for a kitas. I find them pretty good - at least they have internet banking! and most businesses seem to have BCA accounts, so I can pay by direct transfer when doing business.

If it's only for 6 months maybe you could set up something with your own bank - they could have a relationship with a bank in Indonesia where you can access your $$.

of course there is always ATMS to access your funds from your own bank, but you probably know that :?

 

[Dyah]

somebody have experience with citibank? i hear that they have international giro account. You must have to open one account in your country, and we can use that acocount in every country, incl. Indonesia, without pay extra fee.

 

[Bert Vierstra]

Citibank: minimum amount to HAVE and KEEP on your account is 50 million. Dunno about their "international connections", but as far as I know Citibank US and Citibank ID are seperate entities...

I once opened an account with BII with just a passport, long time ago. They have internet banking as well, but not so many ATM's. So you tend to use other banks ATM's and you pay 25.000 rp extra all the time.

 

[Dyah]

Thank you Bert, i keep my BNI account (from Jakarta-office) ... and maybe will open BCA account in Bali on summer 2007, than i spend more time in Bali than Jakarta. I think it´s okay just with KTP DKI Jakarta, isnt´it? Have a nice day for you all.

 

[irma1812]

I have just sent my application off for opening an account at HSBC Jakarta. We have all our UK accounts with HSBC and have found them very good indeed, what are they like in Indo though? Anybody has had any experience with them there? Cheers!

 

[Tommy]

No experience whatsoever with HSBC or their ATM's in Bali from my part. We tend to rely on BII and BCA at the moment.

 

[mimpimanis]

I Have opened BII & BNI with no problems. Even got my ATM card there & then with BII.

Its a lot easier to open a bank account in Indonesia than it is in England I can tell you!

 

[Petenjo]

I was moving money around in Bali last year and had no problems opening USD$ and AUD$ bank accounts with BII.

However, 2 weeks ago I tried opening an IDR and ran into difficulties. They definately do want you to have a KITAS now - which is a problem for me. Anyway, with a little persuasion I was able to get it sorted - already having a foreign currency account was a help I'm sure. Otherwise you have to get someone to sponsor you I believe.

Hey, its Indonesia - if you have the time, patience and a little $, anything can get done

 

[grastaman]

one option that i was enlightened to is to open an account with one of the larger money changers...

they issue a "checkbook" that can be cashed at their branches, and the accounts (IDR and USD) do bear monthly interest. in addition, its easy to move money in and out via tt or remittance.

i was told by a reliable (non-bank) source that during the monetary crisis ("crismo") many expats moved their funds from banks to the better funded and less exposed larger money changers.

to open an account with a bank, a kitas is mandatory (as far as i know).

this is a decent option, though seemingly more risky, i dont think it is. (plenty of banks sank during the cris-mo).

eg try Kuta Central or the like.

 

[canubee]

According to my account manager at Permata Bank in denpasar Bank Indonesia has just issued new regulations on the opening of bank accounts by foreigners - specificly if you can demonstrate you have a visa that shows you can legally be in Indonesia for 2 months or greater a foreigner can open a bank account.

Finally some smart govt officials have figured out that their restrictions on bank accounts for foreigners was a detterent to foreign investment.

pm me if you want contact details for my account manager.

 

[johannes]

Hallo,

our costs for PLN are paid by our account at the bank BNI monthly during the whole year. Before leaving Bali we put some million rp there and after returning we get the invoices from the bank.
Very easy and save.
Johannes

 

[Markit]

Grastaman,

Sounds like an interesting alternative. I've been trying to find a way to open an account here in the UK that will allow me to have dollars, pounds, euros, anything but rups when we get to Bali because of the large difference in exchange rates between the banks (bad) and the money changers (good, or at least better than the banks). Now you're saying that it's possible to have a direct account (dollars, pounds, etc.) with the money changers? If they were reasonably dependable that sounds like the best option to have. Any chance of some contact information so I can check up myself?

Thanks in advance.

 

[grastaman]

maybe try one of the larger ones like CV Kuta Central... i think its on Jln Raya Kuta (?). sorry, im not in Bali now, but its along the main business strip in Kuta (not the beach strip).

a word of caution: they are not guaranteed. they dont speak much english. that said, the mechanism has worked for me so far in that i am able to TT money in, transfer money out via fax instructions, withdraw money with "checks", and earn interest. as far as i know they have usd (6%) and IDR (12% intr pa).

these guys have a sizeable building office - i guess best to check when you are in Bali. i would guess that a few of the larger money changers do it.

 

[VincentOG]

2½ years after Bert’s post of Feb 2005 which said “I think BCA and BII are pretty easy, where BCA has more ATM's available” ………

BII ATM Network in Bali
• BII does have a lousy ATM network in Bali
• But, within Bali/Indonesia BII account holders can use the ATMs of the following banks at nil cost
1. Permata Bank
2. Panin
3. Danamon
4. Bukopin
5. Haga Bank
6. Lippo
7. Ekonomi
8. Kesawan
9. Bank Buana Indonesia
• Look for the “Alto” sign on the ATM

ATMs For BII Account Holders Outside Indonesia
• Outside Indonesia BII account holders can use ATMs displaying “Cirus”
• I’m currently doing this in Thailand
• My account is charged Rp25,000, regardless of the size of the withdrawal

 

[jogry blok]

I have been to the BCA Singaraja this morning to enquire about opening an account for an australian friend. I was told it is not possible in his name if he does not have a Kitas. At this moment he is in the procedure of having a house build.
Any suggestions?