Thankfully, opening a bank account and getting benefits in Indonesia is relatively easy. Of course, there will be strict supervision and options. The process is doable for everyone, but again, be sure to do it right! What to do? Here are some things to consider:

Opening Bank Account Procedure
Starting with the obvious, choose the bank. Ideally, you should pick a bank that is close to your residence or work. Don't forget to pay attention to the ATM's condition. Is it well-spread? One thing is for sure: both ATMs and bank offices should be available around you. So you can withdraw or deposit large amounts of money without a problem.

In Indonesia, you will also find either local or foreign banks. Most of the big names will allow foreigners or expats to open their bank accounts. The account options can include a deposit with higher interest or a credit account. Some require strict evaluation and agreement before approval.

Requirement
The general requirement includes a reference letter from a sponsor. It can be an employer or an Indonesian spouse. Some documents include a copy of a passport, visa, temporary residence permit (KITAS), or permanent resident permit (KITAP).

After that, you will need the initial deposits. The amount will depend on the bank, as it can go around Rp 1.000.000 or around 100 USD. This number can go as high as 2,000 USD to open a bank account. With that money, expats will have a maximum of up to 50,000,000 USD.

The next thing to do is apply. You have to process it in the office and be assisted by banking personnel. For security features, some banks may require you to provide a fingerprint. After that, you will get the ATM card, set the pin for access, get the book, or activate mobile banking. After it is activated, you are free to use it.

Local Banks To Consider

1. BCA
One of the biggest and most popular options is a local bank. It is known for excellent services, international coverage, and easier transactions. It is widely used in Indonesia and has a lot of ATMs or offices in every city.

2. BRI
BRI, or Bank Rakyat Indonesia, is also one of the biggest banks in Indonesia. It is owned by the government, which makes it widely distributed in Indonesia. It does have overseas branches and is relatively easy to use.

3. Mandiri
The largest in terms of assets and commercial users, Bank Mandiri also has vastly distributed ATMs and offices all over Indonesia. It is also owned by the government and has several branches overseas.

Expats Friendly Banks

1. HSBC
Popular as a foreign bank, this is a bank founded in British Hong Kong. This bank is domestically popular and also widely available throughout Indonesia, plus it covers various services.

2. CIMB Niaga
Starting in Malaysia, Bank Niaga eventually merged with Lippo Bank. It makes the operation even bigger and can handle various benefits, such as life and health services.

3. OCBC NISP
Bank OCBC is based in Singapore but will eventually spread all over Indonesia, with the head office in Jakarta. It is a good option for expats who are low- to middle-class entrepreneurs.

Both local and international banks are available. It will be easier to process if you are living in the downtown area or the capital city of Jakarta. In many cases, foreigners or expats are welcome to have their own bank account. Good Luck!