Bank Account Opening in Indonesia: Requirements, Types, and Procedures for Foreigners

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Opening a bank account in Indonesia requires several procedures.

Having a bank account is important to make transactions in Indonesia easier.

But the question is: is it possible for foreigners to open a bank account in Indonesia?

The answer is yes! 

Foreigners who wish to live in Indonesia need a KITAS or KITAP, which are required documents to open an account.

So, how can you open a bank account in Indonesia?

What You Need to Open a Bank Account in Indonesia?

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There are three main types of bank accounts in Indonesia that you may consider, checking accounts, savings accounts, and deposit accounts.

Most banks in Indonesia offer both Rupiah and foreign currency accounts.

Each bank has its own requirements for foreigners who wants to open a personal account.

You can check the specific requirements on the bank’s website, such as Mandiri, BCA, BNI, CIMB Niaga, and others.

Documents Required for Individuals

Generally, the documents needed for an individual to open a bank account in Indonesia include:

• Passport
• KITAS or KITAP
• Address in Indonesia
• Initial deposit, usually starting from IDR 1 million
• Long-term visa, sponsorship letter, or Tax Identification Number (NPWP).

Documents Required for Corporate Accounts

For corporate accounts, the required documents typically include:

• Memorandum and Articles of Association
• Taxpayer Identification Number (NPWP)
• Business licenses.

Documents Required for Representative Offices

If you want to open a bank account for a representative office, the required documents usually include:

• Copy of Company Registration (TDP)
• Tax Identification Number (NPWP)
• Business licenses.

Read more:

Buying a Home in Indonesia: A Guide for Expatriates

The Process of Opening a Bank Account in Indonesia

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What are the steps for opening a bank account in Indonesia? Follow these steps:

• Gather the necessary documents as mentioned earlier.
• Visit your preferred bank and fill out the application form.
• Make the initial deposit.
• Once your account is active, you will receive your Indonesian bank account number.
• Keep your ATM card and checkbook safe.
• If you want to connect your account with a mobile app, download the bank’s official app from the Apple App Store or Google Play Store.

The time it takes to open a bank account in Indonesia as a foreigner can vary depending on several factors, including your visa status and the specific bank’s procedures.

With KITAS or KITAP, the process can often be completed within a day, especially if you visit the bank in person with all required documents.

Read more:

Can Foreigners Get a Mortgage in Indonesia?

How to Open a Bank Account Without a KITAS?

Some people may want to open a bank account but don’t have a KITAS. But, is it possible?

Opening a bank account in Indonesia without a KITAS used to be nearly impossible.

However, recent government regulations have introduced new requirements, making it possible to open a bank account, even without a KITAS.

Opening a bank account without a KITAS is possible at some banks, but the process is more complicated and can take longer compared to having a KITAS or KITAP.

For those without a KITAS/KITAP, the process may take several days to a few weeks, depending on the bank and any additional documents required.