• English
    • Indonesian
open bank account in indonesia

How to Open a Bank Account in Indonesia

Both natural and legal persons are entitled to open a bank account in Indonesia.

In Indonesia, there are three commonly used bank accounts, namely saving, checking, and deposits accounts.

Savings account

  • Frequently used account that allows real-time transfers.
  • ATM card

Checking account

  • Payments via checks or giro (demand deposit)
  • Delayed payment by retroactive checks

Deposit account

  • Higher interest rates
  • Deposits are withdrawn based on an agreement between a client and bank

How to Open a Bank Account in Indonesia

Corporate Entity

Opening a corporate bank account is one of the mandatory steps of a foreign-company incorporation process. The account must be established with a bank that is licensed as a Foreign-Exchanged Bank or Bank Devisa so that it can handle foreign currencies.

Even though most banks allow to set up a bank account after the company registration is complete, it is also possible to register a bank account during the process. Unfortunately, not all banks provide this service.

Foreign Individual

Banks apply different requirements, but a stay permit (either temporary or permanent) is required. Only with ITAS or ITAP foreign individuals in Indonesia are allowed to open bank accounts. In-depth knowledge of Indonesian regulations plays an important role because other than ITAS or ITAP, you will also have to prepare supporting documents.

Open a Bank Account in Indonesia with Cekindo

On top of the bank account opening for foreign citizens and legal entities in Indonesia, Cekindo can assist in the following services that require an individual approach.

Registration of a Corporate Account from Overseas

Thanks to our partnership with several banking institutions, it is possible to open a bank account while staying in a different country. Once provided with required documents, Cekindo will act on our client’s behalf and set up an account.

Open a Bank Account in Indonesia before Company Registration

To save time, Cekindo is here to work on customers’ behalf and start a business bank account during the establishment of a foreign-owned company is completed.

Contact our consultants

Selected Testimonials

  • I am thankful for Cekindo, as they assisted me for several months to obtain my business visa and enter Indonesia. I was in constant contact with valuable consultants the provided me with updated information during this precarious time. Today, my being in Jakarta is not a miracle – it was made possible by Cekindo.

    Gabriel Francois Pierre Hossaert
  • Balev Coporation

    We needed an expert in applying and obtaining respective registrations for our product range in Indonesia, and a renowned German consultancy company in the safety compliance field recommended Cekindo due to their well-developed network in the Asia Pacific. Cekindo’s practical knowledge helped professionally shape and balance the wording of our labels, resulting in full compliance with Indonesian product regulations while taking into account the market and its end users.

    Rumen Myankov
    Balev Corporation
  • Tim Stewart - Photo

    I would like to acknowledge the exceptional service that PT. Cekindo Business International provided to me and my company. I needed to attend a meeting in Jakarta in October 2020 and because of the COVID-19, there were some restrictions with regard to visa application. I made the right decision by consulting with the visa team at Cekindo. The application process was expertly handled. The team ensured the visa was issued well ahead of time for my trip. I would recommend PT. Cekindo Business International to anyone looking for expert help in managing the visa application process.

    Tim Stewart
    Northern Territory Building Consultancy
  • logo-PT-Asia-Victory

    Prior to choosing Cekindo as our business partner in Indonesia, we interviewed and compared several companies. Finally, we chose to cooperate with Cekindo because of its professionalism and quality. Cekindo has assisted us in many ways, from company certification application to KITAS application and financial statement compliance to the fulfillment of other tax obligations in Indonesia. We appreciate the team’s fast response and professionalism in preparing the financial statements, among others.

    Doris Chen
    PT. Asia Victory and PT. Bigger One
  • logo Toaster

    When I joined Toaster, it was already working with Cekindo. But it’s quick to see why Toaster chose Cekindo. Cekindo has been very helpful throughout. Toaster Headquarters is based in London. Indonesian tax laws are not our specialty. Cekindo’s team has helped us to understand Indonesian tax. They are very knowledgeable and dependable, and therefore a huge asset to our company.

    Tsui-Sie Wong

Selected Clients

Our Clients Find This Helpful. Please Review.
Rating: 4.6/5. From 24 votes.
Please wait...